“Piper Jaffray analyst Gene Munster is weighing in today with his views on Apple Inc., as the tech giant gave up on any plans to make its own television as long ago as last year, according to a Wall Street Journal report,” Scott Fields reports for Smarter Analyst.
While it is a small consolation that the article affirms that Apple was actually working on a television during that period, in the end we were wrong in our constant expectation of the product. Originally we had expected that content was the reason for the delay; however, we misidentified the true reason for delay, which was a lack of perceived killer features as reported by the WSJ. We incorrectly assumed that a combination of Siri, FaceTime, a TV app store, and PrimeSense based motion control could be compelling enough as a unique feature set for the device. Given how adamant we have been about the reality of an Apple television, it’s hard to accept the reality of no Apple television. Our latest thinking prior to this story was that Apple would launch a television in 2016. Based on this report, we no longer expect a television to launch indefinitely. Given that overall investor expectations for a television were low and Street estimates did not reflect a television, we believe there will be no sustained impact to shares of AAPL. — Piper Jaffray analyst Gene Munster
Full article here.
MacDailyNews Take: Gene got one wrong. He admitted it. He remains one of the best Apple analysts on the planet.
Behind Apple’s move to shelve their UHD TV project – May 18, 2015