Apple TV platform 'iPanel' to hit shipments of 12 million by end of 2013

Apple TV platform 'iPanel' to hit shipments of 12 million by end of 2013
Apple's unannounced television platform will be branded iPanel, and will retail for around $1,250 when it launches in Q4 2012.

That's the take of Jeffries & Co. analyst Peter Misek, who has claimed the iTV device's RRP will have a gross margin of 30 percent.

Misek's confidence in the product has prompted him to increase his price target on Apple shares from $699 to $800 - a figure he's arrived at by predicting the firm will ship 12 million iPanels by the end of 2013.


"Due to increased confidence in the iTV launch, we are adding 2 million iTVs to CQ4 and 10 million to CY13 and including a halo effect of one iPad or iPhone per iTV," said Misek.

"Our new FY13 EPS estimate of $53.98 (prior $49.20) is above the St's $49.38."

Misek's bullish narture stems from Hon Hai's recent $1.6 billion investment in Sharp's LCD business, which has prompted some to speculate that the Foxconn's parent company is positioning itself to gain iTV manufacturing orders.

"We believe the Hon Hai/Sharp deal is due to Sharp's increasing importance to Apple and iTV," explains Misek.

Misek also points to evidence that Apple is doubling the size of its North Carolina data centre to support his claims.

[source: Street Insider]
Staff Writer's news editor 2012-2013


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