It seems that Apple (NASDAQ:AAPL) may deliver the so-called iTV within the year which will be much better compared to an ordinary television. According to Peter Misek, an analyst from Jeffries, the company will deliver a good number of these devices within the fourth quarter.
Even as analysts have a positive outlook on the chances of Apple in the television market, it may be possible for the device to use another name aside from iTV for its next-generation television. The device may be dubbed as the iPanel instead of iTV.
Misek added that Apple shares may reach the $800 level even as he adjusted his projections for the company. The new projection comes after Gene Munster of Piper Jaffray revealed that Apple shares may reach $1,000 or a total market capitalization of around $1 trillion.
According to Misek, Apple may deliver around two million units of the iTV or iPanel for the last quarter, which may also increase the sales of the iPhone and the iPad. However the company may use the name iPanel instead of iTV.
The reported iTV or iPanel is expected to be more than just an ordinary television as it will also become a gaming center, a computer, media hub and home automator among other functions it will offer users. The company will also not find it easy to get the rights to the name ‘iTV’ from the TV network in the UK which shares the same name.
It remains uncertain if the iPanel name will be used eventually even as the assumptions of Misek on the upcoming product offering of Apple may be quite possible. For the moment, Hon Hai, an Apple supplier has invested in Sharp to the tune of $800 million which would give Apple the necessary tech for the device.
The data center of Apple in North Carolina was also upgraded to supposedly support the reported iTV product of the company.