A 'healthy' Steve Jobs expected to take the stage tomorrow
Wall Street will look for signs Tuesday that Apple can maintain its strong sales growth amid a weakening consumer market, but will also pay close attention to the physical appearance of chief executive Steve Jobs.
In a note to clients on Monday, Piper Jaffray analyst Gene Munster said he's confident the Apple co-founder will be on hand to personally take the wraps of the company's new line of iPod digital media players and other products, which should reassure shareholders and, in turn, boost Apple shares.
"While some investors are concerned that Jobs will not deliver the keynote, we have reason to believe he will," Munster said. "Therefore, we believe his health has improved since the June event, which would be a positive for the stock."
Concerns over Jobs' health have lingered since his gaunt appearance during Apple's June developers conference. Although it was later revealed that Jobs was suffering from a treatable nutrition problem and not a reoccurrence of his cancer, the matter was again thrust before the public when the Bloomberg wire service inadvertently published his obituary two weeks ago.
Jobs' health aside, investors will also be looking for the Cupertino-based Apple to provide an update on sales of its iPhone 3G, which sold 1 million units in the first three days after its launch on July 11th.
Shares of the company have trade down nearly 20 points in the past few days due to a broader market retreat and uncertainty on the part of investors as to the itinerary for Tuesday's "Let's Rock" event. Many are hoping for Mac-related announcements, such as a new line of notebooks, which may not make the cut, according to Cross Research analyst Shannon Cross.
"Right now Apple stock is kind of caught between concerns about strength in the consumer market and questions about how quickly they will be refreshing products and what they will announce tomorrow," Cross told the Associated Press. "It is kind of a buy on the rumor sell on the news kind of stock. Apple often sells off ahead of their announcements."
Like Cross, Piper Jaffray's Munster sees redesigned Mac notebooks in the short term, but used his research note Monday to sideline those expectations for the time being, saying it now "appears unlikely that they will be announced at the event tomorrow."
Munster had previously expected Apple to use its gathering Tuesday to introduce both Mac and iPod products. However, a timeline published by AppleInsider outlining some of the company's future hardware announcements suggested that new Mac offerings -- including MacBooks, MacBook Pros, and iMacs -- would follow the introduction of iPods by several weeks and months.
In a note to clients on Monday, Piper Jaffray analyst Gene Munster said he's confident the Apple co-founder will be on hand to personally take the wraps of the company's new line of iPod digital media players and other products, which should reassure shareholders and, in turn, boost Apple shares.
"While some investors are concerned that Jobs will not deliver the keynote, we have reason to believe he will," Munster said. "Therefore, we believe his health has improved since the June event, which would be a positive for the stock."
Concerns over Jobs' health have lingered since his gaunt appearance during Apple's June developers conference. Although it was later revealed that Jobs was suffering from a treatable nutrition problem and not a reoccurrence of his cancer, the matter was again thrust before the public when the Bloomberg wire service inadvertently published his obituary two weeks ago.
Jobs' health aside, investors will also be looking for the Cupertino-based Apple to provide an update on sales of its iPhone 3G, which sold 1 million units in the first three days after its launch on July 11th.
Shares of the company have trade down nearly 20 points in the past few days due to a broader market retreat and uncertainty on the part of investors as to the itinerary for Tuesday's "Let's Rock" event. Many are hoping for Mac-related announcements, such as a new line of notebooks, which may not make the cut, according to Cross Research analyst Shannon Cross.
"Right now Apple stock is kind of caught between concerns about strength in the consumer market and questions about how quickly they will be refreshing products and what they will announce tomorrow," Cross told the Associated Press. "It is kind of a buy on the rumor sell on the news kind of stock. Apple often sells off ahead of their announcements."
Like Cross, Piper Jaffray's Munster sees redesigned Mac notebooks in the short term, but used his research note Monday to sideline those expectations for the time being, saying it now "appears unlikely that they will be announced at the event tomorrow."
Munster had previously expected Apple to use its gathering Tuesday to introduce both Mac and iPod products. However, a timeline published by AppleInsider outlining some of the company's future hardware announcements suggested that new Mac offerings -- including MacBooks, MacBook Pros, and iMacs -- would follow the introduction of iPods by several weeks and months.
Comments
I find it very troubling that the stock value of the entire company is being based pretty much on the health of one person. Billions of dollars at stake and one man can make it tumble by having a bad day on the stage.
Welcome to the stock market, please leave your money at the door.
I find it very troubling that the stock value of the entire company is being based pretty much on the health of one person. Billions of dollars at stake and one man can make it tumble by having a bad day on the stage.
The stock market is like politics. People put crap out there and hope it sticks. Facts are secondary at best.
While I'm here, what the fuck is a 'keynote' anyway? Can't he just say presentation? Does everything have to be said in the most obscure and pretentious language possible when you're an analyst in order to get paid? Obviously so.
I think it'd be a great gag for Jobs to be carried onto the stage in a stretcher, or even a casket
Excellent idea. Maybe he could jump out at the end and say "one more thing..." to wild applause. Or someone could call him on his iPhone beyond the grave to the line "Let's see Nokia beat that". Or maybe the whole presentation could take the form of a séance with a Ouija board making the announcements.
Hopefully Jobs is hitting the fast-food.
Actually his condition requires that he only eat healthy food. It's the fats and oils in the junk food that would kill him.
Steve Jobs is by all accounts a very tough guy. I bet nothing would make him happier than to outlive all his tubbier competitors in the computer business, merely by virtue of his low calorie, low carb, low fat diet. He would probably be on the same diet even without the condition.
Balmer for instance, is an early heart-attack just waiting to happen. It amazes me that everyone focuses on Jobs because he looks skinny, when he's probably a hundred times healthier than Balmer and half the tech press.
Anything can happen, but if I was a betting person, I'd say he will be around for years.
Steve should smoke more pot. Then he'll get the munchies and get fat, and the stockholders will be happy.
While I'm here, what the fuck is a 'keynote' anyway? Can't he just say presentation? Does everything have to be said in the most obscure and pretentious language possible when you're an analyst in order to get paid? Obviously so.
Keynote is probably only appropriate for the presentations opening Macworld and WWDC. This is only a presentation.
/Adrian
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While I'm here, what the fuck is a 'keynote' anyway? Can't he just say presentation? Does everything have to be said in the most obscure and pretentious language possible when you're an analyst in order to get paid? Obviously so.
it's playing on the fact that Jobs uses Keynote to make the presentations that he uses to show stuff at the events.
While I'm here, what the fuck is a 'keynote' anyway? Can't he just say presentation? Does everything have to be said in the most obscure and pretentious language possible when you're an analyst in order to get paid? Obviously so.
New Oxford American English Dictionary, 2nd Edition:As Zandros stated, it doesn't really make sense here sense it's not kicking off a conference. I suppose one cold argue that it's kicking off at least 6 months of sales of new products, but I certainly would NOT be one of them.
New Oxford American English Dictionary, 2nd Edition:As Zandros stated, it doesn't really make sense here sense it's not kicking off a conference. I suppose one cold argue that it's kicking off at least 6 months of sales of new products, but I certainly would be one of them.
Yes, I know what a keynote is, I was referring to valid usage. Arguing that it's kicking off sales is a stretch. Did you mean to say "I would not be one of them"?
As a word play it's pretty pathetic too. If he used "sermon" I might have been impressed.
I hope Steve can put to rest any questions about himself by appearing healthy on stage tomorrow.
Yes, I know what a keynote is, I was referring to valid usage. Arguing that it's kicking off sales is a stretch. Did you mean to say "I would not be one of them"?
Yes, I forgot to add the word 'not'.
Looking forward to tomorrow!
I hope Steve can put to rest any questions about himself by appearing healthy on stage tomorrow.
That would certainly be better that Steve's health putting him to rest.
(Thank you, thank you, I'll be here all night folks)
Boy, I really hope Apple can come up with an Eee PC "killer" soon. I'm going to have to go to the dark side so I don't have to cary my 17"MBP when I travel. Please, Steve, please!
See you later then. Apple won't be releasing any underpowered machine any time soon or maybe ever. The Air is as close as it comes. Is that low-spec'ed enough for you?