RIM's PlayBook "Too Late" To Impact Apple - Analyst

September 28, 2010 2:47 PM EDT
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Analysts at Wells Fargo commented on Apple (Nasdaq: AAPL) today following the announcement of RIM's (Nasdaq: RIMM) PlayBook, which is expected to be released in early 2011.

The firm notes that RIM's product is being touted as the "first professional tablet," rather than a consumer-focused device.

Key difference are size, as PlayBook has a much smaller 7" screen versus iPad's 9.7". PlayBook also weights 0.9lbs, versus iPads 1.5lbs. PlayBook also has a front- and rear-facing camera, which is missing on the current iPad version. The firm thinks Apple's second generation iPad will match this capability around the same time frame.

The firm thinks RIMs' release "may be too late," as the second-generation iPad, the onslaught of Google Android-based tablets coming in time for the holidays, and potentially some Microsoft Windows 7-based tablets.

The firm is maintaining its Outperform rating and $300-$320 price target on Apple.

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