"There are other types of reading, like webpages and magazines, that matter just as much as books to many readers, too. For those needs, an iPad's retina display will display images and text like a champ."
So, is there any future for dedicated e-readers?
McQuivey says that as Amazon continues to establish itself as an Internet clearinghouse for all sorts of goods (both physical and digital), the Nook, which got a $300 million infusion from Microsoft last year, could look to selling textbooks and other educational tools.
A rumored plan to split the e-book division off from Barnes & Noble's brick-and-mortar stores could come as early as Thursday and would be a perfect jumping-off point, he said.
"All the more reason for Nook to separate from Barnes & Noble, turning to its investment partners like Microsoft and Pearson and saying, 'Let's see how far we can take this platform into productivity and education,' " he said.
"Of course there's risk there, but there was risk in getting into the tablet business."