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Just watch the ipad mini 5 is pathetic bare bones release . I predict it will have A9 processor , Touch ID 1 , no pencil support , no w2 chip, no headphone jack, comes in 8 , 32 gig variations and costs $399.99 and could have been released years ago.

While it is fashionable to be pessimistic towards Apple and their product releases, your predictions do not make sense:
  1. A9 Processor - Apple has most likely wound down A9 manufacturing at this point, now that the iPhone 6s/6s Plus have been discontinued. At the very least, Apple will move to the A10 Fusion, as they current 6th Gen iPad and iPhone 7/7Plus are current shipping products and the A10 Fusion would be a nice bump for the mini, while utilizing current manufacturing lines.
  2. Touch ID 1 - It is more logical and economical to move the mini to Touch ID 2 at this point.
  3. No Pencil support - I think the jury is out on this one. Apple surprised me by giving the iPad (6th Gen) Pencil support last year and I think they will remove this barrier on the mini. However, it is quite possible that they think that doing this is a mismatch market-wise. Hopefully, they will see the demand is there for that capability, plus the added sale of a Pencil.
  4. No W2 chip - The W2 chip is not used in iPads at all - only AirPods, Beats and Apple's Watches. This is a non-issue.
  5. No headphone jack - I expect Apple to retain the current chassis or regress to the mini 2/3 chassis to make manufacturing and repairability cheaper and easier as the did with the iPad (5th and 6th Gen). Removing the headphone jack does not make sense unless they make a chassis change to match the ID of the iPad Pro line.
  6. Comes in 8, 32 gig variations - maybe 32GB and 128GB versions, but I really think they will stick to one storage tier. If you are arguing 8GB, I have to ask if that was a typo before insinuating that you sound petty.
  7. Cost $399.99 - Possibly, although the mini 4 is routinely discounted to $299 and lower by Target, Best Buy et al., so I suspect that if Apple does a 32GB and 128Gb, the prices will move to $329.00 and $429.00 to mirror the iPad 9.7".
  8. And could have been released years ago - The original iPad mini (2012) was a response to the phablets and smaller tablets of the time. Apple thought that larger iPhones and cheaper 9.7" iPads would supplant demand for the mini, however, I think they underestimated the potential categories and use cases where neither is desirable or preferred.
Tempering expectations with reality is always a good idea, doing so dispassionately is better, but I digress.
 
The idea of a slight speed bump but none of the updates that the rest of the ios devices have had since the gen 3 was launched is annoying, I want a mini pro, the cost is not an issue, full spec, fully featured and full fat, I’m all in.
I don't want a small budget tablet, the big ones are a pain, if I wanted cheap and cheerful I'd go android.
 
I want a mini pro, the cost is not an issue, full spec, fully featured and full fat, I’m all in.
I don't want a small budget tablet, the big ones are a pain, if I wanted cheap and cheerful I'd go android.

You want an iMac Pro without the expensive and ill-placed monitor - I feel that.

The iPad Mini should be almost everything that the iPad (not the iPad Pro) is now. It should be with an A11 or better the A12X, and the Apple Pencil 2 should be the standard and the price about $360o_O! Yes, I'm resigned to the USB-C connector - there is no cable that is a single standard! Why? The storage should start at 128GB, then 512GB - mini in size of the housing only, not the features.

Wishful thinking, huh!
 
No Pencil support - I think the jury is out on this one. Apple surprised me by giving the iPad (6th Gen) Pencil support last year and I think they will remove this barrier on the mini. However, it is quite possible that they think that doing this is a mismatch market-wise. Hopefully, they will see the demand is there for that capability, plus the added sale of a Pencil.

I think Pencil support is the point. Both professionals who prefer a smaller pocket-sized device that they can take notes on, and businesses who use the mini as a point of sale device which would benefit from a Pencil for signing, and other data input. Then there’s students and others who want a compact device to take notes on, and draw and sketch when the moment moves them ... all iPads should have Pencil support, and I’d be surprised that the XS Max doesn’t get it next year. The only reason it wouldn’t, is if Apple wants to try to drive customers to purchase two different devices instead of just one. But the fact that Apple dropped the SE and made the XR, seems to suggest that’s not as big a motivator as it once was, though I can’t imagine that eventually all iOS devices will support the Pencil.
 
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