Appleis introduction of a new version of its Final Cut Studio suite along with Final Cut Server signal the companyis attempt to make a stronger push into the high-end pro video market, according to Piper Jaffray analyst Gene Munster. "Apple has consistently signaled that it is making a bigger push into the pro editing market, with new products and an expanding presence at the NAB trade show," he said. "The Final Cut Server product is clearly another step in this direction."
Final Cut Server addresses a long-standing criticism that Apple did not offer pro tools for handling high-end projects, according to Mr. Munster. Its success will be a critical factor in helping Apple gain additional market share at the pro level, but is not likely to have an impact on the companyis near-term numbers. He commented "Appleis announcements at NAB yesterday are not big news compared to the companyis other product announcements this year, and we do not expect that these announcements will impact numbers in the near term."
Mr. Munster is maintaining his "Outperform" rating for Apple stock, and is lowering his target price from US$124 to $123. Apple is currently trading at $90.70, up 0.46 (0.51%).