Analyst predicts smaller, cheaper iPad for October

Apple’s next device is, according to analyst expectations, a lower-priced, smaller iPad. And it will be out in October,¬†Pacific Crest analyst Andy Hargreaves believes.

The crystal baller has attached a price to his prediction as well: $299.

“We anticipate an entry-level 7.85″ iPad with 8GB of NAND capacity to price at $299 with an initial gross margin of 31%,” he wrote in a recent report.

“We estimate Apple will sell 10.0 million 7.85″ iPads in FQ1 (Dec. 2012) and 35.2 million in all of F2013.”

If such a model were to be released, it would do so at the expense of its bigger brother; Hargreaves cuts down fiscal 2013 predictions from 91.6 million to 65.2 million.

The smaller device is believed to be taking the place of the similarly priced iPad 2.

About the author: Rain Anderson

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