As Amazon (AMZN) launched its much-awaited Kindle Fire Thursday attracting rave reviews, its top competitor Apple (AAPL) posted gains in the street ending the day at $676.27, gaining $6.04, almost 1 percent higher than the previous close.
The e-retailing giant also launched an e-reader Paperwhite and plans to sell advanced Kindle Fire HD tablet by November.
Apple's gain despite the recent launches clearly shows how the new iPad release, often referred to as "iPad Mini," slated for October release, will supplement the Cupertino giant's leading position in the market.
Although Amazon scrip (AMZN) also posted a new high Thursday touching $252.27, before ending the day at $251.38, almost 2.10 percent higher than the previous close, the new Kindle Fire HD is not expected to make much of a dent into Apple's portfolio.
This is because the Kindle lineup for Apps remains a weak spot, CNBC has noted, stating that it will take time for developers to build apps that take advantage of Kindle Fire new 9" HD display.
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This puts Apple at a significant advantage as the firm advances into the holiday season. And Apple may release a new iPad, in 2013, according to CNBC.
Earlier, Brian White, an analyst at Topeka Capital Markets, told CNET: "We believe the combination of Apple's expanding digital grid, innovative design, unmatched aesthetics, leading App availability, intuitive user interface and expanding technology innovations will continue to keep the company on top of the tablet market for many years to come."
This apart, Apple's ecosystem comprising App Store offers over 650,000 mobile apps as of July 2012, with over 200,000 pertaining to the iPad, CNET reported.
Among the competitors, Google (GOOG) posted a significant gain of 2.74% ending Thursday at $699.40 while Samsung (005930) gained 0.59% ending the day at 1196000 KRW.