Apple shares today rose $1.10, or 2.3%, to close at $49.78 after earlier touching a new record of $50.12.
Analysts at Piper Jaffray have reiterated their “outperform” rating on Apple Computer Inc (AAPL) and raised their target price from $52 to $60.
In a research note published this morning, Piper analysts stated their belief that Apple’s new ultra thin iPod nano will account for robust sales during the December quarter, calling the newest member of the iPod line a “home run.” Piper Jaffray Analyst Gene Munster said in the note that the new player is expected to draw new users into portable music market due to its ultra-thin design. He also expects the iPod nano to attract strong sales due to current iPod owners seeking to replace older iPod models.
“Analyst reaction to Apple’s announcement was overwhelmingly positive. Many cited the nano, rather than the Rokr, as the more important product,” Gabriel Madway reports for MarketWatch. “Credit Suisse First Boston raised its price target on Apple to $56 from $45. Analyst Robert Semple said in a note that ‘these products keep Apple positioned to continue its dominance of the portable music market.’ First Albany hiked its Apple price target to $53 from $48, forecasting strong demand for both Apple’s iPod products and its computers. UBS also raised Apple’s price target to $59 from $54.”
Full article here.
Related articles:
Mossberg: Apple iPod nano ‘beautiful, incredibly thin, and exceeds Apple’s performance specs’ – September 08, 2005
Apple’s iPod nano will make competitors whimper, Motorola’s ROKR inexplicably bland – September 07, 2005
Tech pundit Enderle: ‘iPod Nano is a hit,’ Motorola ROKR ‘simply doesn’t have enough Apple in it’ – September 07, 2005
Jupiter analyst Gartenberg: ‘the market is going to go for Apple iPod nano in a big way’ – September 07, 2005
Analyst: iPod nano ‘could be Apple’s next home run’ – September 07, 2005
Video of Steve Jobs introducing iPod nano, ROKR iTunes phone now available online – September 07, 2005
Apple’s Steve Jobs predicts ultra-thin iPod nano ‘will become the highest volume iPod in the world’ – September 07, 2005
Apple introduces iPod nano – September 07, 2005
Apple’s iPod nano will make competitors whimper, Motorola’s ROKR inexplicably bland – September 07, 2005
first post
too bad i didnt have some stock before the announcement
“NANO NANO” – Mork from Ork (Mork and Mindy)
Actually I think it was “Nanu Nanu” but who cares anywhay, sock is rising, Apple isn’t dying. Mac’s are on iPod welfare, life is good.
I agree that the Nano was the hit product of the Wednesday announcement. The Motorola ROKR phone is not special. Sure it can synchronize with iTunes for a measly 100 tracks but that is not enough to make me want to buy it. The Nano saved Apple from the disappointment of the ROKR’s reception.
Greek:
ο νάνος (o nanos) = the dwarf
just to counter the posts who say that nano comes from “a billionth” (wich makes no sense whatsoever…)
Correct me if I’m wrong, but this is the only time I can remember when Apple’s stock actually climbed on a positive announcement. I have come to accept that the better the news from Apple, the worse the stock does the next day.
If Apple goes up to $60/share, I’ll buy you each a nice yacht.
In an Indian dialect Nano means small – thus the small iPod
Apple stole the name “Nano” from Creative! Creative has an entire line of MP3 players called the “Nano” and the “Nano Plus”. I imagine that we’ll be hearing about a lawsuit from Creative any day now. Why did Apple have to steal their competition’s name??
Nano isn’t exactly a name. It’s a prefix for measurements like kilo, mega, giga, etc. So we won’t be hearing about any lawsuit. That’d be like: no company could name their product xxxx MINI because of the iPod mini. Type “nano” into google – it already shows up way before Zen Nano.
Nano = one billionth.
Other than the technology (nanotechnology) possibly used to get such electronics into such a small form factor… I don’t think “nano” or “one billionth” applies to either product.
What will we see next? iPod Pico, iPod Zepto
Palmer Deville
MDNMW: Green as in, the iPod Nano will bring in the green for another quarter or so.
To all those naysayers who, a few months ago, were saying that Apple could not sustain its dominance with the iPod, well here’s your answer, the iPod Nano.
What they fail to realise is that Apple is always innovating and introducing products that the market has not even thought of yet. Nobody saw the Nano coming. If Apple simply released the original iPod and added nothing to it, then yes their dominance would fail, but they don’t. These analysts who do not understand creativity (after all they are simply bean-counters), so with Apple they will always get it wrong.
As a side note, I LOVE the black version. You heard it here first: when the Mactels come out they will be modelled on the look of the iPod Nano black’s design & colouring. The strapline will read: Apple Mactel: we’ve moved to the dark side!
I don’t think apple want people to buy the ROKR over an iPod, what they want is for people buying a phone – most importantly none iPod users – to buy a ROKR over other phones. Once they get one they will in turn start using iTunes, in turn they may start buying music and/or decide to buy an iPod because of the positive experience. They are then under the influence of the iPod halo and might then go on to buy a mac. As long as the phones aren’t rubbish and iTunes is seen as the best thing about it then it works for apple – if only as great advertising.
Jim,
I imagine that they used the name ‘nano’ in order to add insult to injury; sort of like rubbing salt into an open wound.
After Sim Wong Hoo’s blustering last year about an ‘advertising offensive’ in which Creative was supposed to spend a million U.S. dollars to promote its ‘brand’, this was probably Apple’s way of showing them just exactly what Creative was up against.
Plus, it’s pretty ironic; who knew that Creative had a ‘nano’ line of products, other than you? Whereas almost EVERYONE who uses a computer, or an mp3 player, will know about Apple’s iPod nano.
It’s called “A Cruel Irony®.”
MaWo: ‘reaction’. As in: Upon hearing news that Apple had introduced the iPod nano, Creative’s president, and resident recipient of this years ‘Most Likely To Go Postal®’ award, Sim Wong Hoo’s reaction was to crap himself and mutter unintelligibly.
I wish that the new Macs will make Apple shares climb up to Everest!
MW: “tax” as there is a 51,74 € tax for the “artitsts” in France in the 4 GB iPod Nano price!
Screw it. I was bummed there was no Firewire but the thing is just too cool. I also was finally able to watch the webcast of the event and I think the RDF has kicked in.
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I want one.
Nobody saw the Nano coming. -Satori
Um a couple people did. The concept contest was held almost a year ago now.
http://ilounge.com/index.php/sitenews/comments/ipod-flash-concepts-winner-announced/
With 3 Macs and a perfectly good older iPod I have no need for this product.
….but I’ll be buying one once it hits my Apple store.
Actually, Mork said “Nanu nanu”. But that’s just a technicality. I want an iPod nano!!
That partnership with Cingular and Motorola is a very wily move by Apple. Reminds me of some kid I knew back in gradeschool; a kid who has the coolest toy in school that everyone wants and that nobody else has. When the toy becomes a little old, he gives the toy to another kid who then thinks he’s now the koolest kid in school because he has this toy that everyone wants and that nobody else has. Thinking he’s now one of the popular kids in school and expecting all the other kids to flock to him, he turns around and sees the real cool kid pull out a new exciting toy that exclipses his toy. So now, all the kids flock to the real popular kid to play with him and nobody wants to play with the kid who got the old toy. Oh wait, that kid was me!!!
I want a nanobook!
MW “every”
Similar,
Maybe I should have said no company saw the nano coming, because if they did, they would have anticipated this from Apple, and would have a product available now that could get close to it. They haven’t.
The reason they haven’t is because they don’t innovate like Apple, they simply follow, they do not lead.
Speaking of “Nanobooks” this technology you see in the iPod Nano will be the sign of things to come.
Technology exists that makes using a hard drive obsolete, everything will be stored in a state of pernament “on” type of RAM, not the electrical dependant kind we use now. Thus the Unix like operating system with it’s permissions for every file will come into play.
What’s nice about this new type of RAM/solid state hard drive combination is it will not need so much battery juice.
The screen of the iPod Nano will also be used in Nanobooks of the future thus they will be incrediably thin.
This is why Apple had to go with Intel and their roadmap of dual core, low wattage and low temp processors. Volume also comes into play.
A problem facing the ultra flat non-mechanical notebooks of the future is of course the cd/dvd drive.
Flash based cards would be so much better, but the world is still stuck with mechanical rotating plastic cds.
MDN Word “truth”