“Apple is reportedly getting ready to announce its iPad Mini soon. The Wall Street Journal is reporting that Apple’s Asian suppliers have started production on the 7.85-inch tablet, which is rumored to be announced later this month,” Ciaccia writes. “Apple may send out invitations as soon as Oct. 10 for the event, with the actual announcement coming Oct. 17.”
Ciaccia writes, “It could be big for investors, said Sterne Agee’s Shaw Wu. ‘Like other products, lower price points tend to drive sales. An iPad Mini we think would likely drive incremental iPad buyers,’ Wu said in a phone interview with TheStreet. ‘There’s going to be some cannibalism of iPad sales, but we think it makes a lot of sense.’ Wu rated Apple shares buy with price target of $840.”
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