iPhone 5Walmart has drastically slashed the prices of the iPhone 5, iPhone 4S, and the fourth-generation iPad, making holiday shopping for Apple fans more affordable.

The iPhone 5 is available for $127 – a $63 savings from Apple’s retail price of $199.

The 16GB fourth-generation iPad with WiFi and Retina display is normally priced at $499. Walmart has cut the price by $100. Starting Monday, December 17th, the deal will also include a $30 iTunes gift card.

Walmart has also cut the price of the iPhone 4S by $50 – shoppers can now get their hands on one for only $47.

There are strings attached with the iPhone discounts. These discounts apply to in-store purchases only. Also, according to Walmart’s website: “Price based on new line activation or eligible upgrade with 2-year contract.”

The discount on the iPhone 5 may raise questions on the sales performance of the model. The sale was announced shortly after UBS analyst Steven Milunovich lowered his previous expectations for iPhone sales. He lowered sales expectations by 5 million units for the first 3 quarters of 2013.

In addition, Milunovich stated that Apple appears to be suffering a lapse in iPad sales with the release of the iPad Mini – a cheaper and more compact model of the iPad many people know and love.

The deals at Walmart will only last for the next 30 days, according to the company.

We’ll be monitoring this closely here at CP. Will other retailers, like Best Buy, follow suit? We’ll be watching for an iPhone/iPad price war to break out, or at least some price matching.

What do you think of these amazing discounts from Walmart? Will you be more likely to invest in an iPhone or iPad now? Share your comments below!