 Hey guys, so I've got Avi Greengard here. Avi is, I would say, the best analyst in the industry. And actually, I heard you guys talking about price points. And Avi, I want to kind of get into it with you. So Apple's got a product at $329 with the iPad Mini. They've got a whole bunch of competition at $199, and kind of a massive, amorphous, not-so-successful competition at $499 and above. What's your take on the Mini and its price points? Well, I mean, I think that it's a fair price for what you're getting. You're getting a premium product. I think that's actually what Apple's done here. They've created sort of a new segment of the tablet market, of the small tablet market, at a higher price point that just does a lot more. So that doesn't mean that there isn't a market. I agree with what you were saying earlier, that there is a market for a $199 tablet. And that if you are, for example, if you're just looking to consume content, and you're looking for a small tablet, a lightweight tablet for that, then maybe the Kindle Fire HD is the right product for you. Maybe the Nook HD is the right product for you. Or if you want a little bit more versatility and a little bit more complexity, then the Nexus 7 is a great product there. But if what you're looking for is an entry point into Apple's iOS ecosystem, you want those $275,000, I would call them almost like bespoke experiences, where, look, there are things you can do on an iPad that you can't do on any of the other products, and then there are things that you can do on the other products that are just better on the iPad. So let me ask you this. With the big iPad, we're just going to call it the big iPad from now on, I guess, there is a big market of people who are saying, you know, it's a laptop replacement. This is the future of computers, right? You've got cars and trucks, and the trucks are the laptops, and the tablets are the cars, and everybody's going to have a car sooner or later. This product is small. I mean, it's physically smaller. It doesn't feel like you could replace your laptop with it. Is that going to dilute Apple's message there, or are they still kind of pursuing this post PC strategy? Well, I don't know that that was ever really Apple's explicit... Cars and trucks. Yes, the cars and trucks analogy is. And there's no question that... Speaking of trucks, by the way, the fire truck is going by. That's probably Apple's fire truck. So I do agree that you can't do some of the things that you would do. I mean, I carry around... There have been times when I've carried around the big iPad with Logitech's keyboard cover and used it as sort of a laptop replacement. But why are you shoving the microphone up my nose? Okay, all right, all right. These people are telling me... You want me to hold it then? All right, is this better? All right, and we're supposed to look at the camera. We're supposed to look at the camera? Okay. Can you start singing then? If you'd like me to. So I do think that there are use cases where the iPad mini fits where a regular iPad doesn't. I was just thinking... Now, this is just personally... This isn't industry analysis. This is a guy sitting in the audience going, I want one of these. If you take a MacBook Air and you take an iPad mini, you've covered all my use cases for when I'm on the road. I can get my writing done and I can consume media. I can use iOS apps, some of which don't really have analogs on the full-size truck of the Air. And so I do think that you're right that this doesn't quite fit as a full laptop replacement. But again, it also depends on what you're talking about in terms of post-PC laptop replacementism. If what you're using your laptop for is Facebook and YouTube videos, and Lord knows there are a lot of people who... That is a reason to use it. Then the smaller size may be perfect. And when you're looking at not an individual purchaser who's going, hmm, I should buy an iPhone and I've had... I should just leave. I should just let you do all the impressions. Who is this person? It's the inner me, yes. We often think in terms of, well, gosh, Apple has products this big, this big, this big, and this big. And now they're going to expect me to buy one of each of them. But what if you're not talking about an individual, you're talking about a household and you have kids. I have lots of kids. And that's a confession. And you want to give your kids something so that they leave your full-size iPad alone or you have someone who wants to get online and do a quick Google search or if you have someone who wants to be on Facebook and there are a limited number of devices you have in your house that do that, well, the iPad Mini does fit into that sort of laptop replacement post-PC paradigm and it does so at a lower price than a full-size big iPad. I just need to ask you another question and then you can go again. So before I let you go, give me a rough estimate. I mean, how many of these things do you think they're going to sell for the holidays? A lot. Just a lot. Yeah, I mean, that's the one thing that as an analyst, the type of analysis I do is I don't do forecasts. Thank God. I will say that when they first launched the original iPad, I did come up with a ballpark figure and I talked to my contacts at Apple and said, yeah, that's what we think too and we were both very, very wrong. Okay. Well, then I won't ask for an exact number. Avi, thanks so much for joining us today for a little bit.
 Hey guys, so I've got Avi Greengard here.
 Avi is, I would say, the best analyst in the industry.
 And actually, I heard you guys talking about price points.
 And Avi, I want to kind of get into it with you.
 So Apple's got a product at $329 with the iPad Mini.
 They've got a whole bunch of competition at $199, and kind of a massive, amorphous, not-so-successful
 competition at $499 and above.
 What's your take on the Mini and its price points?
 Well, I mean, I think that it's a fair price for what you're getting.
 You're getting a premium product.
 I think that's actually what Apple's done here.
 They've created sort of a new segment of the tablet market, of the small tablet market,
 at a higher price point that just does a lot more.
 So that doesn't mean that there isn't a market.
 I agree with what you were saying earlier, that there is a market for a $199 tablet.
 And that if you are, for example, if you're just looking to consume content, and you're
 looking for a small tablet, a lightweight tablet for that, then maybe the Kindle Fire
 HD is the right product for you.
 Maybe the Nook HD is the right product for you.
 Or if you want a little bit more versatility and a little bit more complexity, then the
 Nexus 7 is a great product there.
 But if what you're looking for is an entry point into Apple's iOS ecosystem, you want
 those $275,000, I would call them almost like bespoke experiences, where, look, there are
 things you can do on an iPad that you can't do on any of the other products, and then
 there are things that you can do on the other products that are just better on the iPad.
 So let me ask you this.
 With the big iPad, we're just going to call it the big iPad from now on, I guess, there
 is a big market of people who are saying, you know, it's a laptop replacement.
 This is the future of computers, right?
 You've got cars and trucks, and the trucks are the laptops, and the tablets are the cars,
 and everybody's going to have a car sooner or later.
 This product is small.
 I mean, it's physically smaller.
 It doesn't feel like you could replace your laptop with it.
 Is that going to dilute Apple's message there, or are they still kind of pursuing this post
 PC strategy?
 Well, I don't know that that was ever really Apple's explicit...
 Cars and trucks.
 Yes, the cars and trucks analogy is.
 And there's no question that...
 Speaking of trucks, by the way, the fire truck is going by.
 That's probably Apple's fire truck.
 So I do agree that you can't do some of the things that you would do.
 I mean, I carry around...
 There have been times when I've carried around the big iPad with Logitech's keyboard cover
 and used it as sort of a laptop replacement.
 But why are you shoving the microphone up my nose?
 Okay, all right, all right.
 These people are telling me...
 You want me to hold it then?
 All right, is this better?
 All right, and we're supposed to look at the camera.
 We're supposed to look at the camera?
 Okay.
 Can you start singing then?
 If you'd like me to.
 So I do think that there are use cases where the iPad mini fits where a regular iPad doesn't.
 I was just thinking...
 Now, this is just personally...
 This isn't industry analysis.
 This is a guy sitting in the audience going, I want one of these.
 If you take a MacBook Air and you take an iPad mini, you've covered all my use cases
 for when I'm on the road.
 I can get my writing done and I can consume media.
 I can use iOS apps, some of which don't really have analogs on the full-size truck of the
 Air.
 And so I do think that you're right that this doesn't quite fit as a full laptop replacement.
 But again, it also depends on what you're talking about in terms of post-PC laptop replacementism.
 If what you're using your laptop for is Facebook and YouTube videos, and Lord knows there are
 a lot of people who...
 That is a reason to use it.
 Then the smaller size may be perfect.
 And when you're looking at not an individual purchaser who's going, hmm, I should buy an
 iPhone and I've had...
 I should just leave.
 I should just let you do all the impressions.
 Who is this person?
 It's the inner me, yes.
 We often think in terms of, well, gosh, Apple has products this big, this big, this big,
 and this big.
 And now they're going to expect me to buy one of each of them.
 But what if you're not talking about an individual, you're talking about a household and you have
 kids.
 I have lots of kids.
 And that's a confession.
 And you want to give your kids something so that they leave your full-size iPad alone
 or you have someone who wants to get online and do a quick Google search or if you have
 someone who wants to be on Facebook and there are a limited number of devices you have in
 your house that do that, well, the iPad Mini does fit into that sort of laptop replacement
 post-PC paradigm and it does so at a lower price than a full-size big iPad.
 I just need to ask you another question and then you can go again.
 So before I let you go, give me a rough estimate.
 I mean, how many of these things do you think they're going to sell for the holidays?
 A lot.
 Just a lot.
 Yeah, I mean, that's the one thing that as an analyst, the type of analysis I do is I
 don't do forecasts.
 Thank God.
 I will say that when they first launched the original iPad, I did come up with a ballpark
 figure and I talked to my contacts at Apple and said, yeah, that's what we think too and
 we were both very, very wrong.
 Okay.
 Well, then I won't ask for an exact number.
 Avi, thanks so much for joining us today for a little bit.