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Analyst: Apple to Introduce iPhone, Ultra-portable Device in 2007

Analyst: Apple to Introduce iPhone, Ultra-portable Device in 2007

by , 11:55 AM EST, November 28th, 2006

UBS Investment Research analyst Ben Reitzes sees strong iPod shuffle and nano sales giving Apple even more momentum moving into 2007. He also predicted next year will bring exciting product announcements, including an Apple-branded cell phone and ultraportable devices.

Mr. Reitzes said "In calendar 2007, we continue to expect new video iPods, more content deals for video, and more moves into the digital entertainment arena for Apple, including the iTV media hub device. Phones and ultra-portable devices could also be announced within the next year. We should hear more from Apple at Macworld in January with Steve Jobs' keynote on January 8."

He forecasts Apple will report 16.56 million iPods sold for this quarter, and 1.8 million Macs sold. Mr. Reitzes is raising his first quarter 2007 EPS from US$0.78 to $0.80 based on an 11-percent revenue growth to $6.4 billion, up from $6.3 billion.

EPS for fiscal 2007 are up, too, from $2.75 to $2.84 based on $23.76 billion in sales, up from Mr. Reitzes' earlier estimate of $23.25 billion. His target price for Apple's stock is up from $95 to $108, and he is maintaining his "Buy" rating.

Apple stock is currently trading at $91.53, up 1.99 (2.22%).


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

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Observer Comments

Show: Subjects Only | Full Comments
Close Name:Dave -   TMO Staff Posts: 227 Joined: 11 Jun 2001
Subject: Jan 8th?

Seems like the Jobs' keynote would be on Jan 9th, no?

Close Name:Biff Posts: 1479 Joined: 08 Apr 2004
Subject:

LOL. Wow its amazing how similar his prediction are to existing rumors!

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