“Supply concerns over Apple Inc’s new iPad are ‘overblown,’ Jefferies said in a note, adding that the company is expected to produce 12-15 million tablets this quarter,” Himank Sharma reports for Reuters.
“The third generation iPad sports a crisper display, dubbed the Retina Display, and some industry commentators and technology blogs have said the company could face a supply crunch for these displays in the near term,” Sharma reports. “Jefferies analyst Peter Misek, however, said industry concerns over the sharper screens used in the new iPad were unfounded, as Apple suppliers have ramped up production for the new display. ‘Despite widespread concerns, we believe there will be enough screens for the new iPads,’ said Misek, who raised his price target on Apple stock to $699.”
Sharma reports, “Jefferies’ Misek, rated five stars by Thomson Reuters StarMine for the accuracy for his earnings estimates on Apple, also said the company would launch its widely speculated “iTV” television set later this year. Misek said the company is expected to start full-scale production of the rumored “iTV” television by May or June for a fourth-quarter launch.”
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