Apple Trading Up On Tablet News

Apple is trading up on the day (+7.81, or just over 4% to $197.71) following a report that it will start ramping up production early next year on an upcoming tablet device.

The report comes from Oppenheimer analyst Yair Reiner, who opined that the February 2010 ramp-up implies a product launch in late March or April.

Apple is currently in negotiations with book publishers and distributors such as Amazon (NASDAQ: AMZN) for content to be accessed via the tablet.

Oppenheimer’s Reiner estimates that the tablet could add 25 to 38 cents in EPS for Apple per quarter, if 1-1.5 million are sold at an average price of $1,000.