Reining in hype for the new iPhone
Posted
May 23 2008, 01:09 PM
by
Kim Peterson
Rating:
We're officially in bizarro world when people start lining up at Apple stores for absolutely no reason. Yet that happened yesterday in New York (Engadget has the details.) Perhaps it's a sign of the inevitable hysteria that surrounds Apple's annual developers conference, slated for June 9. The biggest question is whether the company will announce a faster iPhone, and analysts are weighing in with predictions.
Top Apple analyst Gene Munster of PiperJaffray told investors today to cool their heels. Yes, Apple will show a new iPhone with 3G capabilities, which allow for faster Web access, but it will look almost exactly like the current model, he wrote. Don't expect revamped iPhones until 2009. Apple shares are up slightly today to $178.62.
It's been a while since we've seen new MacBooks, and Munster said there's a 60% chance they'll be announced at the conference. Odds are higher that they'll come this summer, he said.
The iPhone uses AT&T's network, and AT&T's CFO said yesterday that a price for the phone hasn't been set yet. That decision is entirely up to Apple, he said.
Update: Two more analysts chime in. Goldman Sachs' David Bailey predicts Apple will sell 11 million iPhones this year. That's 1 million more than Apple's own goal. Bailey raised his price target for the stock to $220 from $185. A Merrill Lynch analyst raised his price target to $215 from $186 and predicts 20 million iPhone unit sales in 2009.