December 25, 2006
Waiting on Apple Cellphone Call
Buzz about an iPod cellphone has propelled Apple shares to near-record highs, reports the The WSJ. "The anticipation is extraordinary in the financial community," says Toni Sacconaghi, an analyst at Sanford C. Bernstein.
"In the past six months, talk about an Apple device that combines the entertainment functions of the company's hit iPod digital music player with a cellphone has reached new heights. Wall Street analysts and investors believe a device will likely debut next month at MacWorld.
... In a research report last week, Morgan Stanley analyst Rebecca Runkle estimated Apple could sell six million cellphones next year and 12 million in 2008, generating $5.41 billion in new revenue for both years combined.
Ms. Runkle wrote that she had been told that two cellphone models went into production this month with four-gigabyte and eight-gigabyte storage capacities, similar to the iPod nano and enough to store as many as a few thousand songs She has Morgan Stanley's most positive rating on the stock. Apple is an investment-banking client of the bank.
Image from iPhone Concept Blog
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