Apple’s new iMac, Mac Pro and 27-inch Cinema Display launch sets the company up for strong computer sales heading into the school buying season, according to UBS analyst Maynard Um. Apple introduced the computer updates, along with its Magic Trackpad, on Tuesday morning.
“This morning Apple refreshed their line of iMacs, Mac Pros and LED Cinema Displays, and unveiled a new Magic Trackpad,” Mr. Um said. “The refresh comes in time for back to school, which could drive upside to our unit estimates.”
The new iMac and Mac Pro models include faster Intel processors along with more powerful ATI video cards. The Magic Trackpad lets desktop Mac users navigate their computer with a multi-gesture capable trackpad instead of a mouse.
Apple’s updated product lineup, along with the popular iPhone and iPad, will likely draw interest beyond the educational buying season and carry over into the holidays as well. “We expect Apple’s broad portfolio (particularly iPad and iPhone) to be two of the most sought after products into [the second half of 2010] and, in particular, the holiday season, which we expect will translate into continued growth momentum,” Mr. Um said.
Mr. Um is maintaining his “Buy” rating and US$340 target price for Apple’s stock. Apple is currently trading at $262.25, up 2.97 (1.15%).