iPad 2 will have stiff competition this year, analyst thinks

In a note to investors on Tuesday, Ticonderoga Securities analyst Brian White became one of only a few analysts to take a minority stance on the iPad 2… sort of. White thinks Apple’s next-generation iPad will see stiff competition from the wave of tablets set to crash down on our shores this year, whereas most believe Apple’s tablet will be a clear winner over competitive offerings. “We estimate there are well over one hundred tablets coming to market around the world this year.” White writes. “Assuming a new iPad is unveiled at this event, we believe Apple must make a convincing case for why the iPad 2 is better than the plethora of competitors coming to market, while at the same time persuading iPad 1 buyers to upgrade to iPad 2.” That was enough to garner some attention, apparently, as White then pumped the brakes. “We still believe the combination of the Apple brand, economies of scale and the company’s powerful ecosystem are reasons enough for Apple to outpace its competitors,” he notes. White currently has a Buy rating on Apple stock with a $550 price target.

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