Shares of AAPL ended higher by 2.40% in Tuesday’s session after the company has sent out invites for an event on October 23 that will be held at the California Theatre in San Jose.
The company is not revealing any details except for a tantalising "We've got a little more to show you."
Everyone is sure that the company is about to reveal its iPad Mini, that has been the subject of so much speculation and discussions for the last couple of months.
Ever since the invites made its appearance in reporters' newsrooms, the Apple stock has been rising again. It had depreciated about 10 percent from the high it had hit on September 21, when its iPhone 5 had gone on sale.
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It is expected that the iPad Mini might just wipe out the criticism that Apple has been receiving first due to its defective mapping application that replaced Google Maps, then some tiny but irritating glitches in its new operating software iOS, and then later for the supply problems that it is facing.
Then one of its component suppliers Foxconn was found to have been violating China's labour laws by hiring under-age interns at its factories.
The smaller, cheaper iPad Mini is meant to compete with Google's Nexus 7 and Amazon's Kindle Fire tablet and is expected to have a starting price of either $249 or $299 compared to the regular iPads which start at $499.
If Apple hits the nail on the head with the iPad Mini, then you can bet investors will reward the company with another surge in stock price. Apple better be careful though, because if the supply of iPad Minis can’t keep up with consumer demand, it may find itself in a similar situation once again, Slash Gear said.