Apple (NASDAQ:AAPL) is finally giving us a smaller and cheaper iPad, but the world's most valuable tech company didn't stop there. The class act of Cupertino is also refreshing its full-sized iPad line, months ahead of its historical springtime update.
Why is Apple pushing out new tablets? Well, the company's quarterly report two days later provided an important clue. It turns out that Apple sold just 14 million iPads during the period, well short of what analysts were expecting.
Beefing up the iPad's specs while introducing a smaller $329 model that has some -- but not all -- of the same specs should breathe new life into Apple's tablet dominance during this critical holiday shopping season.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- Angie's List (NASDAQ:ANGI) continues to grow in popularity. Turning a profit is the stumbling block. The subscription-based website for vetted reviews of local service providers saw its quarterly revenue soar 75%. Unfortunately, Angie's List loss widened during the period. Maybe there's a reputable stain-remover specialist on the site to help it clean up the red ink.
- The market said "see you later, alligator" to Crocs (NASDAQ:CROX), after the resin footwear maker missed Wall Street's sales target and posted disappointing guidance for the current quarter. After years of rebuffing claims that its shoes are faddish, Crocs may finally be peaking.
- Akamai (NASDAQ:AKAM) is serving up good stuff again. The leading content-delivery network posted better-than-expected revenue and earnings. Serving up media files and speedy website pages may seem like an obvious growth industry, but cutthroat pricing has held Akamai back in the past. It's doing pretty well these days.