iPad mini and iTV already in ‘full production’ according to report
In a research note to investors on Friday, Jefferies analyst Peter Misek wrote that Apple‘s (AAPL) rumored iPad mini and “iTV” are both already being assembled by Apple’s manufacturing partners. The analyst notes that even though July is a historically flat month, Foxconn’s (2317) revenues were up 5% from June, leading Misek to believe the iPad mini is responsible. Additionally, Taiwanese sales data from July and information from his own sources revealed that Apple has increased iPad mini orders from 18 million units to 25 million for the September quarter, and more than 30 million units for the December quarter.
The analyst believes that Apple’s rumored iTV is in “full production” and could be released before the end of the year. “Recent data out of Sharp, Hon Hai and other specialty chemical and TV component suppliers support this,” he wrote, according to Forbes, adding that manufacturer JDSU (JDSU) recently revealed that it had a new non-gaming “living room” based customer for its gesture control modules. Misek also suggests that Apple will “leverage AT&T‘s and Verizon’s content deals for the iTV.”
He estimates that in fiscal 2013, the Cupertino-based company will earn $63 a share, noting that its upcoming iPhone debut “will be the biggest handset launch in history.” Misek projects that Apple could sell at least 8 million iPad minis in the holiday quarter at an estimated retail price of $300, and 2 million HDTVs at an estimated price of $1,250. Combined, the devices could increase the company’s revenue by almost $5 billion.
As for Apple’s rumored September 12th press event, the analyst believes the company will almost certainly announce the next-generation iPhone and quite possibly the iPad mini, but it probably will not unveil its HDTV until some time later.
Misek continues to recommend Apple to his clients and raised his price target from $800 a share to $900.
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