Market Overview

iPad Mini Will Have "Mediocre Customer Adoption," Says Analyst

Apple (NASDAQ: AAPL) might have a difficult road ahead when it releases the iPad Mini on November 2.

Trip Chowdhry, managing director of equity research at Global Equities Research, said that he felt Apple's media event was met with "too much hype."

"[The] announcements failed to live up to the hype," he said in an e-mail.

In providing a brief list of key takeaways from the event, Chowdhry affirmed that "Innovation at Apple is over."

"Just incremental improvements, nothing groundbreaking," he said. "The best is over for Apple. iPad Mini is playing catch up to Google (NASDAQ: GOOG) Android [and] probably will have a mediocre customer adoption."

Innovation has been a major concern for Apple shareholders. After releasing several groundbreaking products, such as the iPod and iPhone, and several industry-changing products, including the iPad and MacBook Air, the company reported record-breaking revenues in 2011. Despite releasing even more new products in 2012, Apple has been unable to maintain that level of growth.

Analysts had hoped that the iPad Mini would be the product that could save Apple and push it above $1,000. It now appears that Apple might need something more significant.

Follow me @LouisBedigianBZ

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