Apple (AAPL): iPad Mini Release Date November 2

After months of rumors, Apple (NASDAQ: AAPL) is set to release its iPad Mini later this afternoon. In fact, the release date of Apple’s latest innovation has already leaked.

November 2 is when the iPad Mini will hit shelves, several media outlets are reporting. We’ll know for sure in a matter of hours. But a few other details about the new product are also trickling out.

Namely, that the iPad Mini will start at a cost of $249, and that it will have a 7.85-inch screen size. The iPad 2 has a 9.7-inch screen.

Despite the leaked details, Apple shares are down a bit in pre-announcement trading. The stock had fallen 1.4% as of 11:30 a.m. eastern to dip below $625 a share for the first time since early August.

But a big move could be imminent after today’s announcement. Apple shares have historically taken off after the company has launched new products – topping $700 a share for the first time in its history after the recent iPhone 5 release.

Plus, with the stock down 11% in the past month, Apple can actually be bought at a relative bargain right now.

That may not last long – perhaps no longer than a couple more hours. Better snatch up Apple shares now while they’re “cheap.”