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发帖数: 16371 | 1 【 以下文字转载自 Stock 讨论区 】
发信人: wavelets01 (信箱), 信区: Stock
标 题: Apple: Small iPad to Eliminate Android Differentiation, Says Piper
发信站: BBS 未名空间站 (Mon Jul 9 11:45:03 2012, 美东)
Mon, 09 Jul 2012 15:41:55
By Tiernan Ray
Piper Jaffray's Gene Munster this morning reiterates an Overweight rating on
shares of Apple (AAPL) and a $910 price target, writing that recent news
reports the company will produce a smaller iPad by the end of this year are
different from the 2013 introduction he'd been expecting, but probably are
in accord with what the buy side was expecting.
"We had previously expected a smaller iPad in March 2013, but believe the
Street generally expected the device this year," he writes.
"Given iPhone 5 timing, it seems most likely that Apple would introduce the
smaller iPad during the phone event, although we also expect an Apple TV
refresh, which could make for a crowded event."
Munster hypothesizes that Apple might sell a 7-inch or 8-inch iPad for $299,
somewhere between the $199 iPod Touch with 8 gigs of storage and the $399
iPad 2 with $16 gigs. If so, Apple could sell 4 million to 65 million units
in the December quarter, after cannibalizing 10% of the sales of normal
iPads and 30% of the sales of tablets running Google's (GOOG) Android
operating system, which will include Google's own "Nexus 7" tablet, and
models from Samsung Electronics (005930KS) and Amazon.com (AMZN).
Munster argues that by being lower in price and having the option of a
smaller screen than the current model, such an iPad would "eliminate the
core Android points of differentiation."
Munster is not changing any estimates, as he had already included
expectations for a smaller iPad in his fiscal 2013 projection for the year
ending September of '13. That estimate calls for $194.32 billion and $50.27
per share.
Apple shares today are up $4.62, or 0.8%, at $610.50.
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