Ming Chi-Kuo, an analyst with KGI securities released a report late last week, squashing the hopes of Apple customers anxiously awaiting a larger 12.9″ iPad Pro.

It was long rumored throughout 2013 that Apple was expected to launch a larger iPad to compete with Samsung’s largest tablet, released late last year. While that tablet may still be in the works Kuo believes we won’t see that tablet until 2015. He’s also suggested that we won’t see an upgrade to the iPad Mini either.

Kuo has suggested that Apple will spend their resources working on a new version of the best selling iPad Air instead of the lower margin iPad Mini.

Kuo says that the new iPad Air wil be faster, utilizing a new A8 processor and a touchID fingerprint sensor, originally released in the 2013 update to the iPhone 5, the iPhone 5s.

Compared with lower-margin iPad mini with Retina display, which shipments has been tepid, higher-margin iPad Air was a hot selling item in 4Q13, which will slow Apple in developing new iPad mini models. We believe Apple plans to launch upgraded iPad Air early this year, and will accelerate development of 12.9” iPad. As such, more resources will be allocated to these two products, which will affect the progress of the development of new iPad mini. All told, we think chances of the debut of a new iPad mini in 2H14 are slim. In addition, the 12.9” iPad is unlikely to be offered in 2014. For these reasons, we predict the only new iPad product in 2H14 will be the upgraded iPad Air.

macrumors.com reports that Kuo has also said that Apple will prioritize the iWatch this year. The iWatch is their long rumored smart watch which is believed to be an integral part to their expected Healthbook app.

Kuo also believes that the 12.9″ iPad will see a release in 2015, and could be targeted towards the enterprise market.