Apple's stock took a hit Tuesday and it could be because the iPad mini might be priced too high.
This morning the company announced its new 7.9-inch tablet, but since then Apple's stock has fallen more than 3%, or more than $20. It closed at $613.36.
Typically after new product announcements, Apple's stock falls as people sell on the news, but this time it may be tied to the iPad mini's pricing, according to Value Walk.
The iPad mini starts at $329 for a 16 GB model. By comparison, the iPad mini's competitors, the Google Nexus 7 and the Amazon 7-inch Kindle Fire HD, offer their tablets at $250 and $200 for 16 GB models, respectively.