Multi-touch Technology Could Be More Important Than The iPod
03.14.07 - 12:59pm
Apple stock is currently selling for 89.12 after the iPod jump helped leap it from lows in the $30’s. Analysts have continued to raise the target price on Apple since Christmas with new products such as Apple TV and the much publicized iPhone soon to hit the market.
USB anaylst Ben Reitzes believes Apple’s multi-touch display technology on the iPhone could become more important than the iPod,
as the technology is incorporated into other Apple products and could lead to a touch-screen revolution. He wrote “We believe this ‘Mega-Platform’ could help Apple become an ‘open-ended’ growth story once again with a logical chronology of new products for years to come. We expect multi-touch to be prevalent in Apple’s major hardware products within three to five years — making its way into touch-screen Macs next year. We also expect new touch-screen video iPods, ultra portables, more phones and possibly even TVs in the future.”
Other Apple products could be coming out with the multi-touch technology as soon as 2008. That and the launch of the iPhone just 3 months away should boost Apple’s bottom line. Thus Reitzes has a “buy” of Apple stock with a target rate set at $124.
Apple is already getting a boost from the iPhone as free advertising dollars from iPhone hype hit 400 million as reported by USA Today. Harvard Business School professor David Yoffie says “No other company has ever received that kind of attention for a product launch. It’s unprecedented.”
BAC is also remaining bullish on Apples stock due to its new line of flash based products expected out in this year. Apple is rumored to be launching a new flash based notebook and flash video iPod.
All in all Apple’s stock is a hot commodity and analysts are still expecting it to rise higher. During the last 3 months Apple has grown +4.2%, even with NASDAQ being down 2.7%.
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