iSlate and Major iTunes Overhaul Expected At Jan 27th Event - Analyst
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52 Buy, 12 Hold, 1 Sell
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Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
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Canaccord Adams commented on Apple's (Nasdaq: AAPL) planned event scheduled for January 27 in San Francisco. The firm believes that Apple's introduction of an iSlate and a major overhaul of iTunes are likely to be announced at the event.
Analyst Peter Misek commented, "We see major newspapers, magazines, books and other print media being integrated into a new iTunes store. We see the iSlate as a direct competitor to the eReaders, attempting to make them obsolete. Additionally, we believe Apple will introduce a subscription model that will change the market once again. We can envision commuters downloading TV shows, magazines and newspapers for their daily trek. We believe an iSlate will sell for around US$799 without a subsidy, while a subsidized version is likely to sell for around US$500 with a contract."
Misek said both AT&T (NYSE: T) and Verizon (NYSE: VZ) are vying to carry the Tablet and both are likely to carry the device.
Two primary issues temper the firm's enormous enthusiasm. "First, non e-ink technologies are hard on the eyes and, second, we believe the iSlate is very bandwidth intensive, which will put additional strain on the networks which are already approaching full capacity," Misek said.
Overall, the firm believe this is very positive for Apple’s stock due to material future revenue and earnings growth potential. The firm is reiterating their Buy rating and $250 price target.
Analyst Peter Misek commented, "We see major newspapers, magazines, books and other print media being integrated into a new iTunes store. We see the iSlate as a direct competitor to the eReaders, attempting to make them obsolete. Additionally, we believe Apple will introduce a subscription model that will change the market once again. We can envision commuters downloading TV shows, magazines and newspapers for their daily trek. We believe an iSlate will sell for around US$799 without a subsidy, while a subsidized version is likely to sell for around US$500 with a contract."
Misek said both AT&T (NYSE: T) and Verizon (NYSE: VZ) are vying to carry the Tablet and both are likely to carry the device.
Two primary issues temper the firm's enormous enthusiasm. "First, non e-ink technologies are hard on the eyes and, second, we believe the iSlate is very bandwidth intensive, which will put additional strain on the networks which are already approaching full capacity," Misek said.
Overall, the firm believe this is very positive for Apple’s stock due to material future revenue and earnings growth potential. The firm is reiterating their Buy rating and $250 price target.
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