What's Important in the Financial World (10/23/2012)
As usual, the public and investors have made a circus out of the release of a new Apple Inc. (NASDAQ: AAPL) product. In this case, it is the iPad mini, which is supposed to compete with the Amazon.com Inc. (NASDAQ: AMZN) Kindle and Google Inc.'s (NASDAQ: GOOG) Nexus 7. The Nexus has not sold well, at least based on any public information. Therefore, it is unlikely to be a threat. The Kindle is another matter. Amazon claims the Kindle Fire HD is its best-selling item. The decision by Apple to release the mini is its first defensive move in memory. Apple usually leads the field with innovative products and is never flanked by competition. But the Kindle has been in the market for more than two years now, and no one can deny its success. Apple has been flanked and the mini, its solution, must do well for supporters of the stock to continue to completely defend their case.
Douglas A. McIntyre