Analyst: iPhone 'Appears To Be In the Works'

Bear Stearns analyst Andy Neff on Wednesday said in a research note that he came away from a recent meeting with Apple executives convinced that an "iPod phone appears to be in the works, although timing remains uncertain," according to the Consumer Electronics Stock Blog. He also expects refreshed iPods ahead of the holiday season, although the so-called "true video iPod" would be a complement to the existing line, not a replacement of one of its members.

"While investors are anxious about iPod data points, we would use the near-term weakness as a buying opportunity," Mr. Neff wrote. He maintained his current expectations of US$0.48 EPS for the current quarter, on revenue of $4.6 billion, along with his $94 price target. He said: "We remain buyers of the stock."

Thanks to iLounge for the link.

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