White's meetings with Apple suppliers has turned up an interesting note, however. “Our research is pointing to the unveiling of a lower priced iPad in the first few months of 2012 that is aimed at expanding the company's market potential by tapping into a more price sensitive consumer segment,” the analyst wrote. “Essentially, this ‘iPad mini' will also fend off the recently announced Amazon (AMZN, $235.48, NR) Kindle Fire that addresses the low-end tablet market with a $199 price tag but could lead to bigger tablet ambitions from the online retailer in the future.”
White continued, noting that the “mini” moniker refers to the tablet's lower price and not necessarily a smaller screen size. “We believe this lower priced iPad could be priced in the mid-to-high-$200 range,” White said. “We expect this will be followed by a much more powerful, feature rich standard-priced iPad 3 in 2Q12.”
White reiterated a Buy rating on Apple stock with a 12-month price target of $666.
