Top Nav

iPad Mini: It’s Official

Ian Wyatt

Well, the rumors were true: the iPad Mini is here.

Apple (NASDAQ: AAPL) announced its latest innovation just minutes ago as part of a morning press conference in San Jose, California.  As I begin to write this, Apple shares are down 0.8% for the day. Let’s see where they are by the time I’m finished.

In the meantime, here are some of the details about Apple’s newest electronic tablet:

  • It has a 7.9-inch screen, and at 0.68 pounds is 53% lighter than the iPad 2.
  • It has a 5-megapixel camera on the back – similar to the iPhone 4S.
  • It has a battery life of 10 hours.
  • It costs $329 – $79 more than the $250 starting price some media outlets had reported, but the lowest price yet for an iPad.
  •  WiFi versions of the iPad Mini start shipping next Friday, November 2.

So what do investors think of the new iPad? It seems like that higher-than-expected price point isn’t sitting well.

In the 10 minutes since I started writing this post, Apple shares have fallen off a cliff. They are suddenly down 2.5% – and still falling.

Typically, Apple shares go through the roof after the company unveils a new product. Now they’re going in the opposite direction. Is it a simple case of mispricing? Or have investors simply become numb to new Apple products?

If it’s the latter, that could be a major problem for the world’s largest company. We saw a similar drop in shares after the iPhone 5 was released last month – but only after the stock jumped more than 6% in a week and crossed the $700-a-share mark for the first time in its history.

Daily Profit Offer

Sign-up for Daily Profit and each day you'll receive profitable stock recommendations and useful stock market insights that can add wealth to your portfolio immediately. Our research is guided by a simple principle: avoid risk and focus on buying assets at a discount. Simply put, we know you can succeed as an individual investor – and we can help. Sign up to receive 5 weekly issues and one special Weekend Edition of Daily Profit.
You've successfully subscribed, click the link in your email to confirm your subscription.
There was an error, and you have not been subscribed, please try again.