Apple Inc. (NASDAQ:AAPL) Outperforms The Broader market, Up 1.20%
Shares of Apple Inc.(NASDAQ:AAPL) are among the few gainers on Wednesday despite a triple digit fall on the DOW. The stock was recently up 1.20% to $579.11, near to session high of $579.84. The stock made a low of $566.56 in the morning session.
As per a media outlet in China, Apple’s Chinese manufacturing partner Foxconn has already been delegates to produce the new so-called iTV on a trial basis at its Shenzhen factory.
Moreover, last week analyst at Gene Munster from Piper Jaffray predicted that it is likely to be announced in December and ship next year.
The iTV is expected to range in screen sizes from 42 to 55 inches and cost in between $1,500 to $2,000, according to analyst Gene Munster from Piper Jaffray. The analyst had predicted that the stock will hit 1,000 within two years.
However, Forrester Research analyst James McQuivey said that Apple would be foolish to come out with just another TV display, no matter how elegant it is. He also added that TV business is a tough nut to crack and content is still controlled by monopolists and they are unlikely to give Apple the keys to their content archives. However, simply introducing a new display on which to watch that content as it is currently delivered by existing distributors won’t offer consumers much that’s new.
Instead, McQuivey hopes Apple will come out with “the world’s first non-TV TV.” He also said that instead of selling a replacement for the TV, Apple should convince millions of Apple fans that they need a new screen in their lives, which should be called the iHub, a 32-inch screen with touch, gesture, voice, and iPad control that can be hung on the wall wherever the family assembles for planning, talking, or eating in more and more U.S. homes, that room is the dining room or eat-in kitchen.
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