Published On: Fri, Aug 17th, 2012

Apple iPad Mini, iTV In Production Now, Analyst Says

Not only are Apple's (AAPL) rumored iPad Mini and iTV products for real, they're already in production, says Jefferies analyst Peter Misek.

In a research note Friday, Misek raised his iPad tablet shipment estimates based on his assumption that the smaller-screen iPad Mini has gone into production. He expects Apple to make 25 million iPads in the third quarter and more than 30 million in Q4, up from his previous estimates of 16 million and 18 million, respectively. His earlier estimates did not include the iPad Mini.

Taiwan-based contract manufacturer Hon Hai is the main manufacturer of the iPad Mini, he says. Hon Hai's July sales were up 5% from June when they're usually flat based on typical seasonality, Misek wrote.

What's more, Misek is convinced that Apple is in full production of a television set, informally called the iTV.

"We believe the iTV is in full production," Misek wrote. "Recent data out of Sharp, Hon Hai, and other specialty chemical and TV component suppliers support this."

Apple is likely to forge content deals with AT&T (T) and Verizon (VZ) for the iTV. The television also will use a gesture control interface with technology from JDS Uniphase(JDSU), he says.

Misek is modeling Apple to sell 2 million iTVs in the fourth quarter at an average selling price of $1,250. But the iTV launch could be pushed into Q1, he says.

Meanwhile, most investor attention is focused on Apple's sixth-generation iPhone, tentatively called the iPhone 5, which is expected to be unveiled next month.

Misek, who has a buy rating on Apple stock, raised his price target from 800 to 900. In early-afternoon trading Friday, Apple shares were trading near 645, an all-time high, up 1.4%.


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