14 DAY TRIAL // Barron's is reporting that Bernstein Research analyst Toni Sacconaghi has a meeting this week with Apple COO Tim Cook, CFO Peter Oppenheimer and SVP-Product Marketing Phil Schiller. According to the analyst, Apple's officials “appeared confident” about its guidance for the second fiscal quarter ending in March. Moreover, the trio allegedly “projected a confident and unwavering tone.”
The report offers several meeting highlights, including projections on the Mac channel inventory, iPod marketing strategies, the possibility of an Apple netbook, the unchanged status of the Apple TV as the company's ongoing “hobby,” no iPhone nano and more. According to Sacconaghi's research note issued to clients yesterday, “[the] Mac channel inventory is below target level." The analyst says "that suggests a return to targeted level could add 500 basis points to Mac unit growth in the quarter,” according to the Barron's report.
Other highlights include:
· The trio was “most bullish about the iPhone business,” seeing a chance to gain share, with its software as the principal differentiator. · In PCs, the company still sees “huge” market share headroom. · In iPods, Apple is pushing the iTouch, which benefits from its ties to the App Store. · Apple TV has “lots of barriers” to work through, and is not as big an opportunity as the other three primary Apple businesses. · A netbook offering “does not appear imminent,” but he says that the company is clearly thinking about the possibilities. He reports that Cook said Apple has “ideas here,” and that it could eventually offer an opportunity for the company. · Sacconaghi sees new iMacs in March and new iPhones in mid-year. · The company does not appear to be pursuing his idea of an “iPhone Nano” · Any new phones will likely include both a browser and ties to the App Store. · The $999 (polycarbonate) White MacBooks are selling reasonably well, but the strongest selling notebooks were the new aluminum case models.
Unfortunately, Sacconaghi also stressed in his note that the company gave no details on new products.