Gene Munster Offers Initial Estimates for Apple's (AAPL) Smaller iPad
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Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
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Piper Jaffray's Gene Munster issued some estimates related to Apple's (Nasdaq: AAPL) still-rumored smaller iPad Monday morning. The analyst is one of the first to put down actual figures for the device.
Munster believes a smaller iPad will start at $299 for the 16GB model, and be released sometime during the fourth quarter of this year. Munster had previously expected the device to be launched during the first quarter of 2013.
Apple could ship 4-6 million of these smaller iPads during the last quarter of this year, accounting for about 20 percent of total iPad sales, according to Munster. He sees the smaller iPad stealing some 30 percent of all the Android tablet sales.
Munster believes the introduction of the device could add about 1 percent to Apple's sales and earnings during the fourth quarter.
Piper Jaffray maintains an Overweight rating and $910 price target.
To track all the market-moving analyst action on shares of Apple, visit our Analyst Ratings page.
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Munster believes a smaller iPad will start at $299 for the 16GB model, and be released sometime during the fourth quarter of this year. Munster had previously expected the device to be launched during the first quarter of 2013.
Apple could ship 4-6 million of these smaller iPads during the last quarter of this year, accounting for about 20 percent of total iPad sales, according to Munster. He sees the smaller iPad stealing some 30 percent of all the Android tablet sales.
Munster believes the introduction of the device could add about 1 percent to Apple's sales and earnings during the fourth quarter.
Piper Jaffray maintains an Overweight rating and $910 price target.
To track all the market-moving analyst action on shares of Apple, visit our Analyst Ratings page.
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