The Mac Observer

PJC: Apple September Event Expected

August 5th, 2008 at 3:00 PM - Apple Stock Watch by John Martellaro

Piper Jaffrayis Gene Munster, in a note to investors on Wednesday, said that he expects Apple to host a special event in early September and announce new iPods and Mac portables. He doesnit see the so-called MacBook touch appearing until 2010.

In his note, obtained by TMO, Mr. Munster noted that Apple has had an iPod launch event in early September for the past three years.

"We expect redesigned MacBooks and MacBookPros, and a new iPod touch," he wrote. The analyst noted that such an event has not yet been announced, but he expects Apple to re-enter the US$999 price point previously occupied by the iBooks with new MacBooks. He also believes there will be redesigned MacBook Pros which havenit seen a major design change since the first PowerBook G4 was released 5.5 years ago.

Regarding the iPod, Mr. Munster wrote: "Specifically, we believe Apple will increase the capacity of the iPod shuffles as well as the iPod nanos (but maintain current price points); redesigned form factors for the shuffles and nanos are unlikely. We believe the iPod touch may be redesigned and may enter the $199 price point, in line with the iPhone."

Mr. Munster also commented on the so-called "MacBook touch": "While there has been some speculation that Apple will introduce a portable Mac based on the multi-touch technology in the iPhone and iPod touch, we do not believe Apple will release such a device in September," he wrote. "While we do believe Apple is currently testing some form of "MacBook Touch" using a touch screen as the primary input, we currently believe this is more likely a 2010 event. Rather, we believe a smaller version of the 13-inch MacBook Air is likely in the 2009 time frame."

Historically, Mr. Munster noted that Apple has seen a 4% rise in AAPL stock price from before to after such a September event and a 47 percent rise from the week before through the holidays.

The PJC analyst is maintaining a BUY rating on AAPL. In afternoon trading, Apple was at US$164.20, +$3.56 for the day.

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