AppleInsider reports today that Sterne Agee analyst Shaw Wu has said that he thinks that the iPad mini, due to be announced on October 23 by Apple, will be â€œthe competitionâ€™s worst nightmare.â€ Wu bases this belief on the fact that Appleâ€™s rivals are already having trouble competing against the $399 iPad 2 and $499 iPad 3, let alone a smaller, cheaper iPad mini. Wu says that just how hard Appleâ€™s competitors will be hit depends on whether or not it wants to â€œgo for the killâ€, and swallow up lower profit margins in order to achieve the $199 price point of such competitors as the Google Nexus 7 or Amazon Kindle Fire HD. However, Wu actually goes as far as to say that he doesnâ€™t even think that Apple needs to lower the price point as far as $199 for it to be a success, and he thinks that the smaller tablet could be successful at a much higher price point of $350. Recent reports have suggested that the entry-level Wi-Fi-only iPad mini could be priced at approximately $250/Â£250. Source: Apple's smaller iPad expected to be 'competition's worst nightmare'