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In a new research note published today, Topeka Capital Markets analyst
Brian White points to a new report from Chinese business site 21cbh.com
claiming that Foxconn/Hon Hai has accelerated its schedule for ordering
television-sized LCD panels from Sharp, fueling speculation that the
panels are destined for an Apple television set that could debut in time
for the holiday shopping season this year. Foxconn and Sharp announced a partnership earlier this year to advance LCD technology, a move some observers have seen as closely tied to an Apple television set.
This
morning, the Chinese character version of 21cbh.com indicated in an
article that Hon Hai Precision expects to start receiving LCD TV panel
orders from Sharp in 3Q12 instead of 4Q12 as was originally planned.
Recall, Hon Hai invested in Sharp earlier this year to secure LCD panels
that we believe will largely support a new Apple TV. Based on a recent
interview by 21cbh.com with a Sharp executive and information from
sources at the company, the online news source believes the order is for
the new Apple TV and could be available for the holiday season. In our
view, a holiday launch would make for a very merry holiday season for
Apple and consumers. However, we will continue to monitor the data
points surrounding the timing of this launch as they could change.
In his new note, White also reiterates his claims from earlier this month
regarding Apple's use of Kinect-like motion sensing technology for
controlling the forthcoming television set, with the device also
including an iPad-like touchscreen remote.
White continues to be one of the most optimistic analysts regarding
Apple, maintaining his 12-month price target for the stock at $1,111.
He believes that Apple could generate $10 billion in revenue from its
television set in the first year, operating under the assumption that
Apple's device will command a higher price than its competition's
products and that the company will be able to grab 2% of the LCD
television market in its first year.
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