Don’t believe what you read! JP Morgan first issued a report over the “iPhone Nano”, but Piper Jaffray just topped that by claiming Apple’s stockprice will hit $205. Citing a new model for recording iPhone revenues, Piper Jaffray analyst Gene Munster expects this to substantially increase Apple’s 2009 calendar year income.
Of course, this is assuming the electronics giant can sell 45 million handsets in 2009. I think this is entirely possible, because Munster also wrote: “Conversations with investors over the past month suggest awareness of potential for iPhone units is high, but awareness of potential resulting impact to earnings is low.”
Apple’s stock price is currently riding along nicely at $143.75 (+ $3.75).
Via [AppleInsider]
The iPhone Nano rumors originated with JP Morgan analyst Kevin Chang … NOT via Gene Munster or Piper Jaffary.
Chang issued a report to JP Morgan subscribers dated Sunday, July 8, predicting that Apple would release a low-cost, Nano-sized iPhone before the end of the year and might ultimately sell 30 to 40 million of them.
Chang may eventually be proved right, but JP Morgan nonetheless fired him for issuing the report.
Oops! You're right, corrected!