For more than a year now, Piper Jaffray analyst Gene Munster has been insisting that Apple (AAPL) is plotting a move into the television business – and soon. He thinks the company will start selling TV as soon as the end of calendar year 2012.
Munster was at it again on Thursday, asserting in a research note that Apple “will enter the TV market with a full focus, as an
all-in-one Apple television could move the needle when connected TVs proliferate.”
Munster estimates that the flat panel TV market will be 220 million units in 2012, and that 48% of those, or about 106 million, will be Internet connected. He thinks Apple could sell 1.4 million units, adding $2.5 billion in revenue, growing to $4 billion in calendar 2013, and $6 billion in 2014.
Among other factors, Munster points to recent news that the company has been paying up to secure a major supply, of…something. And he thinks that something involves displays.
“On Apple’s most recent earnings call, the company announced that it executed long-term supply agreements with three vendors and will spend about $3.9 billion over a two-year period,” he writes. “Based on our meetings in Asia (not with component suppliers) in conjunction with recent media reports, we believe Apple is securing displays for future products. Apple has started to emphasize display technology in recent months (iPhone 4, iMac 27″) and we expect this emphasis to continue with the second gen iPad, future iPhones and Macs, as well as a future Apple television.”
Concludes Munster: “Recent developments in Apple’s strategy, including the component deal we believe could secure up to 50″ LCD displays, bolster our confidence that the company remains serious about the connected living room.”
Munster was at it again on Thursday, asserting in a research note that Apple “will enter the TV market with a full focus, as an
all-in-one Apple television could move the needle when connected TVs proliferate.”
Munster estimates that the flat panel TV market will be 220 million units in 2012, and that 48% of those, or about 106 million, will be Internet connected. He thinks Apple could sell 1.4 million units, adding $2.5 billion in revenue, growing to $4 billion in calendar 2013, and $6 billion in 2014.
Among other factors, Munster points to recent news that the company has been paying up to secure a major supply, of…something. And he thinks that something involves displays.
“On Apple’s most recent earnings call, the company announced that it executed long-term supply agreements with three vendors and will spend about $3.9 billion over a two-year period,” he writes. “Based on our meetings in Asia (not with component suppliers) in conjunction with recent media reports, we believe Apple is securing displays for future products. Apple has started to emphasize display technology in recent months (iPhone 4, iMac 27″) and we expect this emphasis to continue with the second gen iPad, future iPhones and Macs, as well as a future Apple television.”
Concludes Munster: “Recent developments in Apple’s strategy, including the component deal we believe could secure up to 50″ LCD displays, bolster our confidence that the company remains serious about the connected living room.”
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