Apple's (NASDAQ:AAPL) Jobs Back in Spotlight, Unveils iPad 2

The highly-anticipated unveiling of iPad 2 and appearance of Apple (NASDAQ:AAPL) CEO Steve Jobs has become a reality, as Jobs came on stage to a standing ovation after taking another medical leave from the company.

Reuters noted, "The familiar sight of the Silicon Valley legend in a black turtleneck and jeans cheered fans and investors who had fretted about the health of the charismatic company co-founder. Shares of Apple, which had been flat, climbed as much as 1.4 percent after he strode onstage.

"In the run-up to the event, there had been almost as much speculation about whether Jobs would appear as there was about the device itself. Jobs, who has been treated for a rare form of cancer, had been on indefinite medical leave for an undisclosed condition."

Some of the features of the iPad include speeds which are double the first iPad, is thinner than iPhone 4, and comes with a camera installed.

In what is unusual for an Apple product, the iPad is priced at levels that create a serious moat against competitors. It appears they don't mind competing with lower margins in order to gain market share, but also turn over more units, which will generate more earnings even in a low-margin environment.