Here's When Apple May Announce Apple TV
NEW YORK (TheStreet) -- Rumors of the long-awaited, oft-mentioned Apple (AAPL) television set are creeping up again. At least one Wall Street analyst thinks we could see the device next holiday season.
Piper Jaffray analyst Gene Munster believes Apple could release the long-awaited television set in November 2013, just in time for the holiday rush. "We believe Apple will launch a TV in time for the 2013 holiday," Munster wrote in his report. "As we have previously discussed, we expect a $1,500-2,000 MSRP (Manufacturer's Suggested Retail Price) with screen sizes in the 42"-55" range." He rates Apple "overweight" with a $900 price target.
A November 2013 release date would contradict what Jefferies analyst James Kisner said recently about the Apple TV. Kisner described the release as "imminent" in a research note discussing Arris Group (ARRS) .
There has been some concern that Apple's product lineup (iPhone, iPod, iPad, MacBook) is getting stale and an Apple branded television would reinvigorate investors' appetites. Over the past three months, Apple shares have fallen 15.46%, compared to a 5.23% decline in the Nasdaq.
Apple currently offers a set-top box known as Apple TV, but it's always been a hobby, albeit a beloved one, according to CEO Tim Cook. Many believe the Apple TV set-top box is not the only entrant Apple has planned for the living room, with an eventual television set to come.
At this point, specific details of the Apple television set are a matter of pure speculation. Munster, however, thinks it will include Siri and FaceTime, Apple's voice recognition and video chatting software.
There are rumors Apple is working on an remote that would control multiple devices, and make set up much easier for the customers. Perhaps this is what Steve Jobs meant when he said he had "finally cracked it" while discussing the television set with his biographer, Walter Isaacson.
Apple shares are lower in Tuesday trading, off 0.82% to $561.11.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New York