Rumor: Apple Sets iPad Mini Event

Rumors have been floating around for well over a month that Apple Inc. (NASDAQ: AAPL) was preparing to launch a new versions of its iPad tablet. The so-called “iPad mini” would be cheaper than the existing iPad, primarily due to its smaller screen size. The iPad mini (if one exists) is believed to use a screen measuring 7.85-inches compared with the iPad’s 11-inch screen.

Today’s addition to the rumor is reported at cnn.com stating that a “major Apple investor” has heard from “multiple sources” that invitations to a press event will be sent out on October 10th. If Apple follows its usual pattern that implies a product introduction on October 17th followed by a launch date of November 7th for the iPad mini.

Apple, following its long-standing practice, has said nothing regarding the rumor.

The report at cnn.com does refer to the latest story as “a rumor we have not reason to believe.”

Apple’s shares are trading about flat in the mid-afternoon today, at $667.30 in a 52-week range of $354.24 to $705.07.

Paul Ausick