Apple Cutting iPad 1 Price (AAPL)

Apple AAPL is cutting the price of its first iPad after it announced the second version of the iPad today. Each model of the iPad has been reduced $100, which brings the entry level 16 GB Wi-Fi-only iPad to $399 and the most expensive 64 GB Wi-Fi + 3G model down to $729, down from $829. Refurbished first-generation iPads are even cheaper. A refurbished 16 GB Wi-Fi iPad 1 is priced at $349, while a refurbished 64 GB Wi-Fi + 3G iPad 1 is $659.