Jefferies: $1500+ Apple TV Coming This Fall
In a note released today, Jefferies analysts predict that Apple (NASDAQ: AAPL) will finally release its long-awaited Apple TV this fall -- in September or October.
In advance of the release, Jefferies believes that Apple will host a product event in March based around the TV, suggesting that it could be an SDK introduction. For the non-technically minded, such an event would be aimed at introducing the device to app developers who could then begin work on producing applications for the TV ahead of its fall release.
On price, Jefferies thinks there will be two models -- a 42-inch and a 55-inch. On the former, Jefferies is looking for a price just above $1500. Depending on the features offered and the quality of the display, that wouldn't be that much more expensive than other, high-end TVs.
In fact, Jefferies doesn't believe Apple will sell the TV at exceptionally high margins -- like it does with its other devices. Instead, Apple will rely on “leveraging content via partnerships with existing pay-TV operators.”
As for the stock itself, Jefferies reiterated its Hold and $500 price target. Shares of Apple traded near $466 late in the day Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.