Today yet another prominent analyst is weighing in on Apple Inc. (NASDAQ:AAPL) stock. Piper Jaffray’s Gene Munster released a report today that says in 2013 he expects three new Apple products to be released. According to Munster, next year will be a pivotal one for the company.
Although Munster does believe 2013’s products may be trumpeted about a bit less than this year’s products were, he expects that this upcoming product cycle will “set the stage for bigger changes in the product lineup” in 2014 and future years.
Munster does say he expects to see the Apple Television by next year’s holiday shopping season, with prices set between $1,500 and $2,000 for a 42- to 55-inch screen. He also outlines a number of other expected product releases, including Apple radio service by March 2013 and a new iPad Mini with retina display. He also expects an updated Apple TV box that has an app store, so that users could begin building their library before the television itself launches.
By June he believes Apple Inc. (NASDAQ:AAPL) will preview iOS 7, which he predicts will have “wallet features for Passbook, commerce integration for Siri” and improvements to Apple’s mapping software. He also expects a retina display option to be added to the Macbook Air by this time. Munster doesn’t expect the next iPhone until September 2013, when he predicts the iPhone 5S will have a faster processor, more data storage, a better camera, and other upgrades.
Munster also believes 2014 will bring with it a less expensive iPhone and possibly an increase in the product’s update cycle to two times per year. Today, Munster is holding his position of Apple Inc. (NASDAQ:AAPL) shares at his overweight rating and $900 price target.