Piper Jaffray Comments on Apple's 3rd-Gen iPad Unveiling on March 7
Piper Jaffray has published a report on Apple (NASDAQ: AAPL) after the company announced its special event scheduled for March 7, 2011 to unveil the iPad 3.
In the report, Piper Jaffray writes, "Earlier today (2/28) Apple announced it will host a special event on 3/7 where the company will unveil the third generation iPad. Note Apple's email invitation includes a picture of an iPad with what looks like a high-resolution screen and the tag line "We have something you really have to see." Indeed, we expect the new iPad (possibly called iPad HD) to have a high-resolution "retina" display, faster graphics and processing, and 4G LTE wireless connectivity. Apple may call the new iPad the "iPad HD" to highlight the high-resolution display, or the iPad 4G to highlight the possible inclusion of 4G LTE wireless connectivity, or simply the iPad 3, as it is the 3rd gen iPad."
Piper Jaffray maintains its Overweight rating and $670 price target on Apple, which is currently trading up $7.15 from yesterday's $525.76 closing price.
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