The New York Times says the computer giant has confirmed it will hold an iPad related event March 7 in San Francisco. It reportedly will have 4G, as well as Long Term Evolution technology. Apple has not responded to a request for comment.
Speculation about Apple's tablet has continued to pick up in anticipation of the debut, particularly after Best Buy and other retailers lowered their prices for the iPad 2. Many saw that as a sign that retailers wanted to shed inventory to make room for the new iteration.
Speaking to CNBC, co-founder of Apple Steve Wozniak said that he believes that not only will Apple continue to increase in value, but shares will eventually hit $1000. His reasoning is that Apple is actually several very strong companies rolled into one. Wozniak highlighted the Apple retail store, the iPhone, the iPad, iTunes, and the Mac division as examples of companies within Apple.
Apple shares were trading at $US532.98 at 2:47 p.m. New York time, up 1.4 per cent, after earlier reaching a record high. The stock has climbed 31 per cent this year.
The introduction of the new iPad will be Apple's first major hardware release since the death of co-founder Steve Jobs in October. With new features, Chief Executive Officer Tim Cook aims to give customers more reasons to stick with the iPad, even as rivals undercut it on price. While Apple's tablet starts at $US499, the Kindle Fire costs $US199.
The company also may use the March event to unveil an updated Apple TV set-top box, which could stream higher- resolution video to consumers' televisions, according to Gene Munster, an analyst at Piper Jaffray Cos. in Minneapolis. Apple is planning to release a full television set as early as the December quarter, Munster said today in a report, reiterating an earlier prediction.
The new iPad is being assembled by Apple's main manufacturing partner, Foxconn Technology Group. That company, which also builds the iPhone and other Apple products, gets about 22 per cent of its sales from Apple, according to supply- chain data compiled by Bloomberg.
Apple will sell 29 million iPhones in Apple’s second quarter ended March, higher than the previous average expectation of 28 million. For this fiscal year, Bachmann estimated the iPhones sales would reach 120 million, higher than the previous average expectation of 118.5 million. Bachman also raised the expectation on the fiscal year 2013 Apple iPhone sales, he forecasted the sales would reach 156.3 million, higher than the previous average expectation of 153.5 million.
Meanwhile, Apple’s fiscal second-quarter earnings per share from $8.96 to $9.16, due to the iPhone sales are expected to increase, but still below the $9.43 expectation of the Wall Street analysts. For this fiscal year, Bachmann estimated Apple’s earnings per share would be $42.33, higher than the previously expected figure of $42.03, but lower than the industry average expectation of $42.71.
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