Munster Calls Apple Conference a 'Non-Event'; Believes Jobs Will Unveil New iPod Lineup (AAPL)
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Piper Jaffray's Gene Munster issued a note on Apple (Nasdaq: AAPL) this morning following news yesterday that the company will indeed hold a conference on September 9 in San Fransisco.
The firm believes that at the conference Steve Jobs will unveil a new lineup of iPods, specifically, a new iPod Touch, redesigned Nano's and possibly a new classic version. Piper said that it expects each of these new iPods to come equipped with a camera. As for the rumored "tablet", Piper believes an announcement from Apple is unlikely, saying that the device is not yet ready to go to market.
Moving away from hardware, Piper expects Apple to update its iTunes software with a new social networking feature -- possibly introducing Facebook integration -- as well as new iTunes content.
Piper feels that investors will view the new iPod lineup as a "non-event" but feels that if Steve Jobs does present, it will certainly be viewed as a positive.
Piper Jaffray currently has Apple shares rated at Overweight with a $186 price target.
Shares of Apple are down about 0.9% to $166.75 today.
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