This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Drops as iPad Mini Rumors Swirl

NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) is reportedly getting ready to ramp up production of the next version of the iPad mini, with shipments starting in August.

Apple shares were falling 1.1% to $431.35 in mid-day trading. Company officials could not be immediately reached for comment.

Tech Web site DigiTimes notes that Apple's manufacturing partner, Pegatron, has received orders from Apple to start building the next version of the iPad mini, in addition to the cheaper iPhone that's been much buzzed about in recent days and weeks.

It's expected the next version of the iPad mini will look largely similar to the first version, but will have Retina Display, Apple's high-pixel density screen technology. It's also rumored that the next-gen iPad mini will have a faster processor and better camera.

Sales of the iPad mini have gone extraordinarily well since the product was announced in October 2012. Though Apple doesn't break down iPad sales by the 9.7-inch larger iPad and smaller iPad mini, iPad sales have continued to rise sharply. Apple sold 19.5 million iPads during its most recent quarter, compared to 11.8 million in the same quarter last year.

Apple owned 39.6% of the tablet market, according to research firm IDC.

Apple shares were lower in Friday trading, off 0.43% to $434.10.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.65 -0.66%
FB $101.93 0.92%
GOOG $681.92 -0.32%
TSLA $150.01 4.40%
YHOO $26.75 -1.30%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs