Apple iMac makeover appears ripe for summer, says firm
There's an 80 percent likelihood that Mac maker Apple Inc. will set aside a day this summer to introduce a complete redesign to its signature iMac desktop line, analysts for Piper Jaffray investment research said this week.
Billing the rumored iMac makeover its "Hot Topic of the Month," the firm cited a lack of recent updates to the all-on-one systems as well as recent AppleInsider reports in saying there is a an 80 percent chance redesigned models will arrive sometime in the coming months.
"Based on Apple's product roadmap and the fact that the iMac has not been updated in 309 days, we [...] continue to expect redesigned iMacs this summer," analyst Gene Munster wrote in a research report.
In addition to new iMacs, the analyst also referenced reports that Apple is developing a 13-inch MacBook Pro model featuring an ultra-portable, lightweight enclosure. Such a development, he said, could form a possible inroad for Apple in Asia, where Mac sales have lagged global averages.
The PiperJaffray analyst also used his report Thursday to reiterate his belief that Apple is working on Mac OS X-based iPods with similar touchscreen features to the iPhone.
"While Apple has been criticized for diversifying its product lineup, we believe Apple is focusing its offerings on the OSX software, which is used in Macs, Apple TVs, iPhones, and soon, iPods," he told clients.
Munster, who has also been tracking the availability of iPhones at Apple retail stores since launch day, said supply appears somewhat constrained but is improving daily.
"Apple's supply met demand through the first weekend, but in less than 1 week, by the 5th of July, only 1 percent of Apple's 165 US retail stores had iPhones available," he wrote. "Stores have been receiving regular shipments of iPhones, and as of July 10 availability levels have stabilized around 50 percent.
Munster maintains an Outperform rating on shares of the Cupertino-based Apple with a price target of $160.
Billing the rumored iMac makeover its "Hot Topic of the Month," the firm cited a lack of recent updates to the all-on-one systems as well as recent AppleInsider reports in saying there is a an 80 percent chance redesigned models will arrive sometime in the coming months.
"Based on Apple's product roadmap and the fact that the iMac has not been updated in 309 days, we [...] continue to expect redesigned iMacs this summer," analyst Gene Munster wrote in a research report.
In addition to new iMacs, the analyst also referenced reports that Apple is developing a 13-inch MacBook Pro model featuring an ultra-portable, lightweight enclosure. Such a development, he said, could form a possible inroad for Apple in Asia, where Mac sales have lagged global averages.
The PiperJaffray analyst also used his report Thursday to reiterate his belief that Apple is working on Mac OS X-based iPods with similar touchscreen features to the iPhone.
"While Apple has been criticized for diversifying its product lineup, we believe Apple is focusing its offerings on the OSX software, which is used in Macs, Apple TVs, iPhones, and soon, iPods," he told clients.
Munster, who has also been tracking the availability of iPhones at Apple retail stores since launch day, said supply appears somewhat constrained but is improving daily.
"Apple's supply met demand through the first weekend, but in less than 1 week, by the 5th of July, only 1 percent of Apple's 165 US retail stores had iPhones available," he wrote. "Stores have been receiving regular shipments of iPhones, and as of July 10 availability levels have stabilized around 50 percent.
Munster maintains an Outperform rating on shares of the Cupertino-based Apple with a price target of $160.
Comments
Where can I get a job repeating what Steve Jobs himself stated?
PS? When these analysts release a target price, what kind of time frame are they refering to?
"this summer"
"sometime in the coming months"
At least ThinkSecret mentioned August. Here's what I think of you PiperJaffrey:
I mean it's pathetic! Of course there's an 80% chance of a new iMac coming this summer - at least 80%!
And what does a target price of $160 for AAPL tell us when the price is already over $130 and everything is lookin up for Apple?
How do these people justify their exsistence? Not to mention their inflated salaries!
PS? When these analysts release a target price, what kind of time frame are they refering to?
They are refering to a 12-month time frame. Although, they revise it so often it hardly matters!
right!
That's something that's always annoyed me.
A 'target price' without any sort of time reference is totally irrelevant!
Munster: "Uh... I got nuthin'... Oh, wait a second." (Lightbulb goes off over head)
The so-called 'analysts for Piper Jaffray' are playing their usual play-it-safe game, so whatever happens they can always cover themselves.
I mean it's pathetic! Of course there's an 80% chance of a new iMac coming this summer - at least 80%!
And what does a target price of $160 for AAPL tell us when the price is already over $130 and everything is lookin up for Apple?
How do these people justify their exsistence? Not to mention their inflated salaries!
Why should you care? They work on commission. If they goof, their clients move elsewhere, that is they don't loose all their investments.
Why should you care? They work on commission. If they goof, their clients move elsewhere, that is they don't loose all their investments.
No, they don't work on commission. They aren't brokers. They aren't selling stocks, or any other securities. They get paid for their analysis.
It has been 30 days and counting since the imac platform has been updated....When will jobs address this problem !!!
No, they don't work on commission. They aren't brokers. They aren't selling stocks, or any other securities. They get paid for their analysis.
You are right. I should have said they get paid from the revenues generated by the brokers. In effect, bad analysis causes bad client relationships. Enough of them and you are out.
In addition to new iMacs, the analyst also referenced reports that Apple is developing a 13-inch MacBook Pro model featuring an ultra-portable, lightweight enclosure.
First of all, HAVE I NOT CALLED THIS 13" MBP RUMOR FOR OVER A MONTH NOW?!?! ...and no one listens.
Anyway, this will NOT be an Ultra-Portable. At best, it'll be slightly more portable than a MacBook.
Following a 13" MBP, Apple will either release a smaller MacBook or tablet that can be considered as an ultra-portable... but Apple will never market it that way. They' simple call it MacBook Mini or the iSlate or whatever it happens to be. Apple doesn't succumb to the limitations of conventional terminology when developing their products.
-Clive
You are right. I should have said they get paid from the revenues generated by the brokers. In effect, bad analysis causes bad client relationships. Enough of them and you are out.
They don't get paid in a way that would influence their reports that way. Most of their income is generated by investment houses, and companies in the industry, who are interested in what their competitors are planning. Brokerage houses are a small part of their client list.
The problems we had in the '90's, with banking houses owning the research arms, which were then sometimes perverted into becoming an arm of their banking business has disappeared, with most all of these research companies not being owned by brokerage and banking houses.
when they are, they must say so. As the client lists of the investment houses, and banks are public (for the most part), when research units are owned, it's easy, if you want to, to find if the research is benefiting the client list.
While it may appear that way upon occasion, if a company is doing well, and the analyst praises it, it's the trend that must be observed.
They don't get paid in a way that would influence their reports that way. Most of their income is generated by investment houses, and companies in the industry, who are interested in what their competitors are planning. Brokerage houses are a small part of their client list.
The problems we had in the '90's, with banking houses owning the research arms, which were then sometimes perverted into becoming an arm of their banking business has disappeared, with most all of these research companies not being owned by brokerage and banking houses.
when they are, they must say so. As the client lists of the investment houses, and banks are public (for the most part), when research units are owned, it's easy, if you want to, to find if the research is benefiting the client list.
While it may appear that way upon occasion, if a company is doing well, and the analyst praises it, it's the trend that must be observed.
Munster is a Sr. Investment Analyst employee of Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking and institutional securities firm focused on delivering financial advice, investment products and transaction execution within targeted sectors of the financial services marketplace. Through its principal subsidiary, Piper Jaffray & Co., the Company serves corporations, government and non-profit entities, institutional investors and the financial advisory needs of private individuals.
"Based on Apple's product roadmap and the fact that the iMac has not been updated in 309 days, we [...] continue to expect redesigned iMacs this summer," analyst Gene Munster wrote in a research report.
Amazing!
In a another research paper a senior analyst a Perdy, Berdy and Nerdy Research Inc also concluded that based on the 12 ounce Steak with creamed potato i had for dinner last night along with the bowl of cereal and fruit i ate this morning there is an 80% chance that i will have a bowel movement sometime today.
There's an 80 percent likelihood that Mac maker Apple Inc. will set aside a day this summer
If anyone from Piper Jaffray investment research is looking at these comments you would probably do well to realise that when writing papers intended for a global market (i assume you are, not all Apple investors are in the US) that the Southern Hemisphere does not share seasons with the Northern Hemisphere. Down below the equator it is actually the middle of winter now and hight of summer will not hit until December.
It might sound a bit picky but in a global economy it is probably useful to understand, using months or quarters is probably the most appropriate method. I understand that it is much easier to be vague when you just say 'summer' as even if the imac is delayed until September you can still claim a win, but saying the next 3 months or so will serve the same purpose.