“Tuesday, Apple is holding its iPad event to refresh the company’s second-largest driver of revenue, behind the iPhone,” Chris Ciaccia reports for TheStreet. “It could be the company’s most important iPad-centric event since the original iPad was announced, according to one analyst.”
“Cantor Fitzgerald analyst Brian White, who rates shares “buy” with a $777 price target, notes that the iPad update could help refresh iPad sales,” Ciaccia reports. “‘We believe this iPad launch will help put a bottom in the iPad sales cycle that reached negative territory in 3Q:FY13 for the first time in the history of the iPad,’ White wrote in his note. He is expecting that Apple will unveil the fifth-generation of the 9.7-inch iPad, and an updated second-generation of the iPad mini. He also believes that Apple will update the MacBook Pro, and give more detail about its desktop operating system, named OS X Mavericks.”
Ciaccia reports, “White believes the fifth-generation iPad will have a slimmer, thinner design, taking its new design from its smaller sibling, the iPad mini. ‘We believe the iPad 5 will be approximately 15% thinner than the iPad 4 and we estimate at least 20-30% lighter,’ White notes. He also believes it will be 7% to 10% smaller than its predecessor, and come in Apple’s new color scheme which it incorporated into the iPhone 5s: space gray, gold and silver.”
Read more in the full article here.
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