Microsoft Introduces Surface Pro 4, Says It's 'Not In Same Class' As MacBook Air

• Shares of Microsoft Corporation MSFT were higher by 0.77 percent late Tuesday morning while the PowerShares QQQ Trust, Series 1 (ETF) QQQ was lower by 1 percent.
• Microsoft is hosting a presentation in which new products and features are being introduced.
• Microsoft's Surface Pro 4 is thinner, lighter, and more powerful than its predecessor.

Shares of Microsoft were outperforming the broader indices late Tuesday morning, gaining 0.77 percent. At the same time, the Nasdaq-Index ETF was lower by 1.16 percent while the Dow Jones average was flat.

Investors and traders were likely reacting positively to the introduction of numerous new products at a company event, including the Surface Pro 4.

Related Link: Looking To The Charts To Find Out What's Driving Microsoft's Rally

Microsoft's corporate vice president for Surface Computing, Panos Panay, took center stage to introduce the new tablet that can double as a laptop.

"This challenge of the tablet and the laptop... which do you buy? Remember that problem? It's gone," the executive was quoted as saying by The Verge. The device was also described as being the "thinnest, most powerful" Intel Corporation INTC Core PC ever shipped and its closest competitor is "not even close."

The Verge also noted that Panay even argued that the Surface Pro 4 is not even in the same class as Apple Inc. AAPL's MacBook Air as the Microsoft device is 50 percent faster and comes equipped with specifications that is normally reserved for laptops. In addition, storage on the Microsoft device goes all the way up to 1TB.

The Surface Pro 4 is available for preorder and starts at $899.