Piper Jaffray Said Apple (AAPL) To Introduce Redesigned iMacs Tomorrow

August 6, 2007 9:11 AM EDT
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Piper Jaffray Comments on Apple (AAPL). The firm said, "We believe Apple (NASDAQ: AAPL) will introduce redesigned iMacs at a press event tomorrow (8/7). The iMac has not been updated in 334 days vs. a product average of 168. Since early this summer when AppleInsider first issued the story, we have been anticipating an iMac update with a radically new form-factor. If Apple releases a new iMac tomorrow, we believe it may provide upside to our Sept. quarter Mac estimate of 1.9m. We also believe a new iMac would shift investor focus away from the early stages of iPhone sales and back onto the more significant story of Mac market share growth. In calendar Q207, worldwide Mac market share rose to a historical high of 3.0% (up from 2.6% in March and 2.5% in Dec.)." The firm maintains their Outperform rating and a $211 price target.

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