Apple (AAPL) Event Could Be Disappointment -AmTech
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American Technology Research is out with a report giving its expectations for Apple's (Nasdaq: AAPL) Steve Jobs hosted special event on Tuesday, September 9. Ahead of next week's conference, the firm maintains a Buy rating and $220 price target on Apple.
The firm believes the market is pricing in low expectations for a break-through announcement at the event given Apple's stock price slide over the last week. Given the title of Apple's invitation to the event -- "Let's Rock" -- and AmTech's recent supply chain checks, the firm believes "this will likely be an iPod-centric event." As rumors have been circulating that new Macs could be unveiled at the event, AmTech believes the conference could be viewed as disappointing.
Further, AmTech feels that radical changes related to the iPod are less likely considering "the great success and extensive refinement iPod has already undergone." The firm sees Apple introducing "a modestly redesigned 4th generation iPod nano and slimmer 2nd generation iPod touch with lower price points and higher storage capacities." AmTech points out that the iPod touch is currently "somewhat mispriced" as the 3G iPhone costs less than the iPod at identical storage capacities. The firm believes price cuts could "re-accelerate iPod sales".
The firm mentions two new "wildcards" products which could be released at the event: "an advanced AppleTV with DVR and TV tuner capabilities and/or a new touch form factors (iPod-Mac hybrid) with larger screens."
Despite the somewhat negative sentiment surrounding the special event, AmTech recommends long-term investors use recent weakness in shares of Apple as a buying opportunity.
Apple, Inc. designs, manufactures, and sells personal computers, portable digital music players, and mobile communication devices, as well as related software, services, peripherals, and networking solutions worldwide.
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Comments
Steve
Unfortunately the big news of the day will be the presence and condition of Steve Jobs. It will be nice to get past this. http://tech-stock-investor.blogspot.com
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Apple
Neel Joshi on Sep 8, 2008 11:45 AMHey you guy's at Amtec, are you ever happy. I hope you are not getting paid for writing crap. I think I n eed to quit my tough job and become a writer/Analyst. --- If you guy's can get paid for writing this crap than I can do better. ---What a bunch of Idiot's