From Reuters:
Apple Inc shares rose more than 4.5 percent on Wednesday, fueled by excitement over the pending launch of new iPod digital music players, which could entice current users to buy upgraded models.
The stock climbed $5.74 to $132.56 in early trading on the Nasdaq, after Apple distributed invitations to a September 5 event in San Francisco. Goldman Sachs said in a note to clients that the date would bring "the almost certain launch of a new family of iPods."
"The product announcement is likely to include a full line-up of revamped iPods with significantly greater functionality at current price points, including the much-anticipated full-screen video iPod," Goldman said.
Goldman recommended clients buy Apple shares, saying the next video iPod could drive "an accelerated upgrade cycle."
Apple shares are up about 55 percent this year, driven by the steady strength of the iPod, which dominates the portable music player market, and the late June launch of the iPhone.
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3 comments:
Wow. Apple does it again and continues as the 800 lbs gorilla.
With their release of a new product line apple will hit the ground running to generate huge potential 4th quarter sales. A great time for new products is later 3rd quarter, early 4th...swing right into gift giving season.
Also, current iPod users that will not be separated from their digital devices (you know who you are) will not want to be left in the dark and will feel a need to upgrade.
I am going to agree with the buy rating for the stock...apple has had a great 52 week run.
Just imagine if you bought 100 shares in Jan.2003 @ $6.00.
I don't even want to think about it!!
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