A slew of analysts cheered Apple Inc's iPad 2 after a thin but energetic Steve Jobs made a surprise return to the spotlight to present the sequel to the blockbuster iPad, strengthening Apple's dominance in the increasingly crowded tablet market.
The $499 device is thinner than the iPhone 4, twice as fast as the last tablet, camera-equipped, and ships March 11 in the United States and March 25 in 26 more countries. The surprisingly fast roll-out highlights the fierce competition in the tablet market.
"While it (iPad 2) doesn't include any new breakthrough features or functionalities, the sum total of its refinements and upgrades - thinner, lighter, faster, more connected - significantly enhance the device's overall appeal," Oppenheimer's Yair Reiner said in a note to clients.
"This is a sad day for the crowd of competitors still struggling to home in on the first iPad's price and performance," Reiner, who continues to see Apple grabbing 75-85 percent of the tablet market in 2011, said.
The iPad has completely dominated the nascent tablet computer market, but literally dozens of new devices are set to launch this year.
"Despite the launches of many competitive tablets, we believe Apple's product leadership, vertical integration, and vast scale will cause it to win the largest shares of the tablet market and the majority of the economic benefits," Jefferies & Co said.
BofA Merrill Lynch mentioned Apple's new chip with dual-core processors, rear- and front-facing cameras, compatible HDMI cable among the iPad 2's notable features but rued the absence of a USB port which it said may deter some customers.
Gleacher and Co called the technological improvements that the Apple design team made to the iPad 2 in just about 12 months as "nothing short of phenomenal."
Research firm Gartner cut its forecasts for global sales of personal computers in 2011 and 2012 as consumers increasingly pick tablets like Apple's iPad over PCs.
The appearance of the ailing Jobs at the event, was unexpected BofA Merrill Lynch said.
"While we don't expect this to be a catalyst for the stock, we believe investors find it reassuring," it said.
Apple shares were up $3.18, or nearly 1 percent at $355.30 in pre-market trade. They closed at $352.12 on Wednesday on Nasdaq.
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