But analysts thought that Microsoft's late-comer status would force it to undercut prices of current players to gain any traction among consumers, though not necessarily businesses.

"Consumers will require a healthy discount for Surface versus an iPad, something we believe will prove difficult given the new iPad starts at just $499 and the iPad 2 starts at a price of just $399," White said.

A possible complication of Microsoft's calculations would be Apple's introduction of a long-rumored "iPad Mini," a scaled-down iOS tablet featuring a 7-in. display. "[That could be] released this September at a price point of $250-$300, providing a more cost competitive product for Apple and opening up a new market segment," added White.

Only in one fashion did Microsoft effectively compete with Apple yesterday: The way it introduced the Surface.

Several, including some who attended the Los Angeles press conference, pointed out similarities in Microsoft's presentation, from pacing and the use of video to multiple executives and even a designer touting different aspects. Those are typical of a Apple product launch.