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Apple shares fall following iPad mini pricing announcement

Reports claim the drop could be down to the smaller iPad's £269 price tag

Apple's share price fell following the company's special event on 23 October, and reports are suggesting that this could be down to the iPad mini's £269 price tag.

The Washington Post reports that "as soon as the price was unveiled" for the iPad mini, Apple's £269 ($329) 7.9in iPad set to compete with Amazon's Kindle Fire and Google's Nexus 7, share sell-off's sped up, and the share price dropped more than $20, ending with a decrease of 3.3 per cent.

"Who's going to buy it?" Matriz research analyst Michael Allenson said following the iPad mini's announcement. "And what are they going to use it for? I don't see that it's differentiated enough."

"When I look at the data from our tablet research, it tells us that people are looking to have fewer devices," Allenson said. "It's a lot of choices that Apple's put in front of people. The question is, are they going to get more people through the door?"

SEE ALSO: Hands on with the iPad mini

On the other hand, Forrester's Sarah Rotman Epps said: "In some ways, [the iPad mini] is cannibalising its own potential sales, but it's also expanding Apple's addressable market."

However, Apple has seen a huge success will its full-size iPad, selling more than 100 million iPads in two and a half years, and dominating the tablet market with a 70 per cent share.

READ: Tim Cook: Apple by the numbers

Plus, the iPad mini was not the only announcement at Apple's event. Long-awaited new iMacs were launched, as well as a 13in MacBook Pro with Retina display that could prove a popular laptop choice, a new Mac mini, and a fourth-generation iPad.

For more analyst reactions to Apple's iPad mini, see Apple struts iPad mini, goes premium with $329 price

See also:

iPad mini cases, covers & accessories WATCH: Apple's iPad mini and Smart Cover videos Refurbished iPad 3 available from Apple for £315 Apple unveils Fusion Drive for new iMac and Mac mini iPad mini vs iPad: We compare Apple's new tablets Apple's predictable iPad mini keynote still had some surprises Apple iPad mini in pictures

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