The new iPad Mini is here

ipad mini

In its biggest product move since the debut of the iPad two years ago, Apple Inc took the wraps off an 8-inch tablet on Tuesday launching a smaller version of the gadget into a market staked out by Amazon and Google. The 7.9 inch ‘iPad mini’ marks Apple’s first unique foray into the smaller-tablet segment. Just two days before Microsoft is ready to show off its own ‘surface’ tablet, Apple also announced a 4th generation full sized iPad with further improvements and latest cunning technology. A smaller tablet will mark the first device to be unveiled by Tim cook, who took over from Steve Jobs just before his death. Back to the iPad-mini, all software that runs on iPad runs on Mini, though it has a separate design. Display Area on the iPad Mini is a third larger than its android competitors.

The “starting sweet spot” for the tablet would be in the $249-$299 range, according to a survey of over a thousand consumers by Baird Equity Research. Topeka Capital’s Brian White argued a smaller tablet could overtake sales of the iPad in a few years. He is forecasting sales of 5 million to 7 million in the December quarter.
Apple shares rose 4 percent on Monday, buoying the benchmark S&P 500 index. While the stock is up 56 percent this year, it is currently down 10 percent from its record high of $705 on Sept. 21, struck by concerns about iphone supply disruption at contract manufacturer, Foxconn Technology. Sharp criticism about errors in its Maps service also hurt.”Apple’s stock is up a ton and it is only logical that it will take a breather after a while,” Yoshikami said. “I don’t think there is any fundamental issue beyond that.”