The Apple invitation said only: "The spotlight turns to notebooks." Occasionally, Apple unveils revolutionary new approaches at such events, but analysts shrugged when asked about the possibility.SAN FRANCISCO
(Reuters) - Apple Inc will unveil its updated laptops on October 14 and
they may cost less, but analysts say the company's drooping stock has
already taken any change into account.
"I think it's already factored into the stock. People have been
expecting this announcement for well over a month," said Andy
Hargreaves of Pacific Crest Securities in Oregon.
The company's stock was up 1 percent at $90.64 in midday trading,
but closed down 1 percent at $88.74 and, overall, it has lost about 56
percent of its value since closing at a year high of $202.96 on
December 27, 2007.
Apple enters the fourth quarter against a background of continuing
headlines about falling stocks and failing banks, and a September in
which retail sales dived beyond expectations.
At minimum, Apple will use the event at its Cupertino, California,
headquarters to refresh its laptop line by updating to the latest chips
and it may also offer new designs.
The Apple invitation said only: "The spotlight turns to notebooks."
Occasionally, Apple unveils revolutionary new approaches at such
events, but analysts shrugged when asked about the possibility.
"You won't know that until the day of the event," said Tim Bajarin of Creative Strategies in Campbell, California.
Analysts also raised the possibility of a drop in the sticker price
for laptops that now start at $1,099, more than twice the cost of the
cheapest of the Window-based laptops.
Apple chief financial officer Peter Oppenheimer opened the door to
speculation as long ago as July 21 during a discussion of the company's
computer line.
The executive said the company introduces "new products that
initially cost more because they deliver an entirely new level of value
to the customer. Then we ride the cost curves down with value
engineering and volume manufacturing, leaving us far ahead of our
competitors."
Bajarin was cautious and stopped short of forecasting price cuts.
"It's a possibility. We don't know that for sure," he said.
He said Apple emphasizes design and functionality, "but clearly they
have become more price conscious as they have become more competitive."
(Reporting by David Lawsky; Editing by Andre Grenon)
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