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Last updated on April 21, 2014 at 1:20 EDT

Analyst Says No New iPad In 2011

September 19, 2011

Despite many other media claims throughout the year, a J.P. Morgan analyst said there will not be an iPad 3 released in 2011, reports allthingsd.com.

J.P. Morgan analyst Mark Moskowitz wrote to clients that new research indicates that the iPad 3 will not go into production this year.

“There are prototypes in the supply chain related to the next-generation device, but our conversations with industry participants suggest that a new device will not be available until sometime in calendar 2012,” Moskowitz wrote.

He said Apple is in no need for a new iPad model because the device still holds 68.3 percent of the tablet market. 

“The other tablet entrants have stumbled so far, and that trend-line could persist deep into 2012,” he said in a statement. “Motorola Mobility and Research In Motion have been recent disappointments, and we expect more stumbles from others.”

Meanwhile, as speculation of a new iPhone model continues to increase, Apple’s stock price closed on Friday at an all-time high of over $410 per share.

The new price has given Apple’s market capitalization about a $25 billion cushion over Exxon Mobil in the rankings of the most valuable companies in the world.

Steve Jobs, co-founder of Apple, resigned as CEO of the company four weeks ago, leaving his position to Tim Cook.  Since then, the company’s stock has risen 15 percent and is now higher than it had ever been under Jobs.

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Source: RedOrbit Staff & Wire Reports