Market Overview

Apple Could Hold iRadio Announcement Until September

Apple (NASDAQ: AAPL) is largely expected to unveil its mysterious streaming music service, commonly referred to as "iRadio," during its annual World Wide Developers Conference.

Gene Munster, Piper Jaffray's senior research analyst, believes that Apple will introduce a music service at some point this year -- but he isn't 100 percent convinced it will happen next week.

"We have expected a music service at some point in 2013," Munster told Benzinga via e-mail Tuesday. "WWDC make sense to announce it. If not next week, it would likely be in September around an iPad and iPod event."

All signs indicate that Apple will release (or at the very least announce) the fifth-generation iPad in September. The device is expected to be a slightly thinner and lighter version of the fourth-generation model, and will likely come with the usual batch of processor tweaks.

Little is known about the next version of the iPod Touch, which is likely to come after the iPhone is updated this fall. For now, Apple has decided to sell a cheaper version of the four-inch iPod Touch that hit stores last fall.

If Apple chooses not to unveil iRadio next week -- either because it wants to save it for an iPad event or because it is still working out the details with Sony (NYSE: SNE) -- the company may disappoint bloggers and investors who are expecting a major announcement.

For that reason -- and the volatility that comes with stock fluctuations -- some investors have started to shy away from media reports.

Brian Shannon, the President of AlphaTrends.net, told Benzinga that he avoids Apple-related news and rumors.

"I try to stay as far away from headlines as possible," he said. "I like to know when they're gonna come out so I know when to expect volatility…[but] I'm focused on the price action."

Shannon is not even interested in the annual hype from Apple CEO Tim Cook.

"I don't listen to it one bit," he said. "I have no interest in what Tim Cook has to say. To me, what's more important is what happens with the stock price and how it gets factored in. The danger to me is that you hear all these wonderful stories and all this wonderful information about Apple all the way down from $700."

Shannon said that by listening to those stories, investors may "create an opinion" about what Apple is going to next.

"I think that Apple is gonna come out with Apple TV and make a billion dollars or whatever," said Shannon, paraphrasing the investor opinion. "Therefore I'm gonna buy it."

Shannon said that he may keep an eye on WWDC in an effort to protect himself from the volatility that may follow, but he has no interest in the news or rumors that may come from the event.

Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ

Posted-In: AlphaTrends Apple Brian ShannonAnalyst Color News Rumors Analyst Ratings Tech Best of Benzinga

 

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