Apple iPad Mini has strong early sales

WOW, that's a lot of punches to the throat

Apple announced it has sold three million iPads in the three days since the launch of the iPad Mini. Canaccord Genuity Tech Analyst Michael Walkley estimates Apple will sell 9.25 million iPad Mini units in the December quarter and 40 million units in fiscal 2013. Walkley believes the iPad Mini has raised the bar relative to lower-priced competing tablets with impressive hardware specifications, competitive pricing, and the leading software ecosystem that includes over 275k iPad-specific applications.

The iPad Mini hardware specs include: 4G LTE support, A5 processor, 7.9” display at 1024x768 resolution, iSight 5mp rear-facing camera, FaceTime HD front camera, and 10 hours (9 hours - 4G LTE) battery life. Over the weekend, AllThingsD reported that it costs Apple $188 to manufacture the device.

Is innovation at Apple stronger than ever? While many chuckled at late night talk show host Jimmy Kimmel's take on the new iPad Mini (which aired last week), Kimmel may not be too far off the mark: "First came the iPod, then a slightly thinner iPod, then a tinier iPod, then a taller, thinner iPod, then a taller, thinner iPod that shuffles your songs, then a pink one, a blue one, a green one, then an even smaller iPod, then a wider iPod. [After those, came] an iPod you can touch, then an iPod you can talk on, then an iPod you can talk on with a G on it, then a shorter, fatter iPod, then a shorter, fatter iPod that shuffles, then a thinner iPod you can talk on with a 4 on it, then a gigantic iPod you cannot talk on, then a gigantic iPod you cannot talk on that's a little faster, then a white one, then a taller, thinner iPod you can talk on, and now a bigger but not gigantic iPod you cannot talk on...Don't forget to buy a new charger." In light of Hurricane Sandy, Kimmel said anybody in New York or New Jersey who stands in line for an iPad Mini this weekend should be "punched in the throat."

Apple (AAPL : NASDAQ : US$584.62), Net Change: 7.82, % Change: 1.36%, Volume: 18,830,709

About the Author

Canaccord Genuity Inc. is a global investment banking and institutional brokerage firm. Their website is www.canaccordgenuity.com.

For disclosures of any equities mentioned here please see: http://www.canaccordgenuity.com/en/ODD/pages/disclosures.aspx.

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