One of the reasons for the iPad’s projected weakness is Apple’s larger screen iPhone 6’s and 6 Plus’s. As can be seen in Fiksu’s chart below the bottom line is the Mini 3, which is having the slowest uptake of any iPad Mini. And the Air 2 (the third line from the bottom) is significantly trailing the original Air.
Apple’s shares are down about 1% to $119 while the overall stock market is down about 0.4%. There is an article on 9to5Mac that has data from KGI Research’s Apple analyst Ming Chi-Kuo (who is quite good) that iPad sales could decrease 30% year over year in calendar 2015 to between 44-45 million. (Note that I own Apple shares).