ANALYST: Apple Will Launch A Cheaper iMac Next Year

Ming-Chi Kuo, an analyst at KGI Securities, believes Apple will release a cheaper iMac in 2014, Apple Insider's Neil Hughes reports.

Apple set its latest iMac price too high and lowering the cost will help drive shipments abroad, Kuo said in a note released Saturday. The cheapest iMac out now costs $1,299.

In addition, Kuo believes Apple will launch its third iPad mini next year. The second-generation iPad mini hasn't launched yet, but it's expected to be announced on October 22.