14 DAY TRIAL // The latest news in the development of the iPhone, interestingly enough, does not come from the usual rumor sources, but from American Technology Research.
In a research note released Tuesday, analyst Shaw Wu told clients that "an Apple-designed smart phone has moved from concept to prototype and recently has progressed to near completion as a production unit. We believe this smart phone has been in development for over 12 months and has overcome substantial challenges including design, interference, battery life and other technical glitches."
Although there have been many objections to the feasibility of such a device, both in terms of technology and the market, Wu said that Steve Jobs "is finally satisfied with the end product Apple engineers have produced in terms of quality and the right blend of cell phone and portable media player."
As a result, American Technology Research clients were encouraged to be aggressive in the purchasing of Apple shares, prior to the launch of the device. The analyst also raised the target price on the Cupertino Company from $75 to $91.
While the device may have been approved, there are still a lot of things that Apple needs to do before the iPhone can become a runaway success, and it is clear that, while the development stage might be drawing to an end, the iPhone itself will not be emerging as a product in the near future.