“Jefferies & Co.’s Peter Misek this morning raised his price target on Apple (AAPL) to $800 from a prior $699, writing that he has ‘increased confidence’ the company will introduce a television set, leading him to raised his fiscal 2013 (for the year ending September) estimate to $214 billion, well above the Street consensus of $187 billion,” Tiernan Ray reports for Barron’s.
“‘We now believe the iTV could be called ‘iPanel’ as it is far more than a TV,’ writes Misek,” Ray reports. “Misek explains in an email this morning that his conjecture regarding the name derives from the fact that the ‘iTV’ name is owned by the U.K. company of the same name, which has global rights, he says, ‘and won’t sell them based on recent checks,’ although it’s still possible in the end the company could sell to Apple. ‘They may be just negotiating’ at present, but he can’t be sure, he tells me.”
Ray reports, “And, he adds ‘this is so much more than a TV. It is a display, gaming center, media hub, computer, home automator, etc.’ …Misek cites a couple of reasons for his confidence, including Apple’s manufacturing partner Hon Hai Precision’s announcement last week that it will take a 10% equity stake in Japanese display maker Sharp, and that Hon Hai chairman Terry Gou will buy 47% of Sharp’s display unit with his own money.”
Read more in the full article here.
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