Apple (AAPL) iPad Will Boost Media Stock: CNBC

Apple (NASDAQ: AAPL) unveiled its eagerly-awaited tablet iPad yesterday. According to Apple CEO Steve Jobs, iPad will compete with e-readers, portable game consoles and media players. The entry level iPad has been priced at $499.

According to CNBC's Julia Boorstin, this relatively low price threshold will lead to faster adoption. The main beneficiaries from this fast adoption will be the media companies whose contents iPad will sell.

Apple has collaborated with five major book partners for its propriety book store, iBooks. These publishers are HarperCollins , MacMillan, Simon & Shuster , Penguin and Hachette Book Group. Similarly, Apple is expected to announce tie ups with the game companies as well.