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Apple’s Goes After Textbook Market (AAPL, MHP, PSO)

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By Paul Ausick Published

Today’s announcement from Apple Inc. (NASDAQ: AAPL) regarding its new textbook app for the iPad included news that McGraw-Hill Cos. Inc. (NYSE: MHP), Pearson plc (NYSE: PSO), and Houghton-Mifflin Harcourt will offer content through the free iPad digital book app, iBooks 2.

Apple also said that publishers had agreed to pricing for most digital books would be $14.99 or less. That’s a pretty big deal. Just checking the Amazon.com website, one of the books Pearson will offer through the iBookstore is Environmental Science: Your World, Your Turn, an 11th-grade science, which carries a list price just shy of $90.

Of course, students will need a $500 iPad in order to read the $15 digital book.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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