Oppenheimer Offers Update On Apple Inc. Following iPad 2 Unveiling

Oppenheimer has published a research report updating investors on the state of Apple Inc. AAPL following yesterday's unveiling of the iPad 2.

"While it doesn't include any new breakthrough features or functionalities, the sum total of its refinements and upgrades—thinner, lighter, faster, more connected—significantly enhance the device's overall appeal,' Oppenheimer wrote. "The closest historical parallel would be the iPhone G2.5 to 3G transition, whose slew of relatively minor upgrades allowed sales to more than triple in the product's second year.

"This is a sad day for the crowd of competitors still struggling to home in on the first iPad's price and performance."

Shares of AAPL closed Wednesday at $352.12.