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Apple shares have risen about 1 per cent on analyst predictions that the surprisingly low price of the iPad will lead to “millions” of sales. Apple’s chief executive Steve Jobs launched the multipurpose device at a company event in San Francisco early this morning Australian time.

The initial price will be $US499 for the base 16-gigabyte version capable of displaying e-books, web content, movies and more. Analysts say the price and functionality sits the product somewhere between an iPhone and Apple’s Mac laptop computers.

Source: Surroundedme.com