The smartest M&Ms (Munster & Marshall) in the pack, weigh in on Apple (AAPL)
Gene Munster
Piper Jaffary tech analyst Gene Munster issued a note to clients today projecting that Apple will sell 1.4 million iTablet devices in full year 2010. Munster believes the new rumored device will go on sale in March and will sell about 162,000 units per month. He further speculates that the iTablet (name TBA) will run current iPhone/iPod Touch apps, as well as a new breed of apps designed for a larger screen on an advanced version of the iPhone OS:
While there are several options ranging from a touch screen Mac OS X to an iPhone-like OS, we expect the tablet to be driven by a new version of Apple’s iPhone OS that runs a new category of larger apps alongside all the current apps from the App Store,” he said. “We believe Apple’s tablet would compete well in the netbook category even though it would not be a netback.
iTablet concept
Broadpoint AmTech analyst Brian Marshall also weighed in on iTablet today (watch video below). Marshall is modeling several million iTablet (iSlate) units at an average selling price (ASP) of $600.
While the iTablet is getting much buzz, Marshall remains very positive on iPhone sales and he is projecting $20 billion in iPhone revenue in 2010. Marshall noted that “iPhone is less than 1% penetrated” into Apple’s 140 carrier partners’ customer-base and Broadpoint Amtech sees plenty of room for growth. On the high side of their earnings projections, Broadpoint Amtech is looking for $11.75 in full year earnings for Apple (AAPL). $11.75 at a 22 price/earnings multiple = 259, hence Broadpoint AmTech has a $260 price target for Apple (AAPL) shares over the next 12 months.
