Analysts are increasingly upbeat about Apple's prospects for the TV market. But iTV may not be the name for this next-gen television. Are you ready for iPanel?
Jefferies analyst Peter Misek has raised his estimates for Apple and said that shares could hit the $800 mark. That price target comes just a few days after Piper Jaffray analyst Gene Munster said Apple could be worth $1 trillion in market capitalization, or $1,000 a share.
Misek expects Apple to ship 2 million TVs in the December quarter and pull along iPad and iPhone sales. The catch is that the iTV may be an iPanel. Misek said in a research note:
We now believe the iTV could be called "iPanel" as it is far more than a TV; it is a display, gaming center, media hub, computer, home automator, etc. Also, Apple would likely have difficulty getting naming rights from the UK TV network ITV.
It'a a bit unclear whether Misek's iPanel idea will stick, but his argument that Apple will make a TV seems to add up. First, supplier Hon Hai invested $800 million in Sharp in a move that gives Apple some TV scale and technology. Misek added that Apple is doubling the size of its North Carolina data center, presumably to support a TV.