Apple shares spike as Steve Jobs announces iPad pricing

Apple shares spiked after chief executive Steve Jobs announced a starting price point of $499 for the iPad, the company’s new, and much-anticipated, tablet device. That’s half of what analysts had predicted at $999.

Shares surged to as high as $209.11 from $205.776 yesterday, once Jobs unveiled the price matrix. During the first part of Jobs’ keynote, they fell to as low as $200.43.

The iPad starts at $499 for a model with WiFi and a 16GB hard drive. But it can be as expensive as $829 with 3G and a 64GB drive. The 3G model of the iPad is unlocked. But with AT&T as the carrier, there’s an option of a monthly price plan of $14.99 with a 250GB limit or unlimited at $29.99.

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Tags: iPad