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fmikehugo

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fmikehugo

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Wednesday, 04/16/2008 10:08:26 AM

Wednesday, April 16, 2008 10:08:26 AM

Post# of 147221
07:54 AAPL Apple: Continue to expect a slightly redesigned 3G iPhone in June- Piper Jaffray (148.38 ) -Update-

Piper Jaffray notes effective today, O2 cut the price of the 8GB iPhone by 37% in the UK and on 4/4 T-Mobile cut the price of the 8GB model by 75% to €99 in Germany.

The firm says iPhone availability remains constrained at U.S. Apple stores. They believe Apple is draining the channel ahead of a new iPhone and continue to expect a slightly redesigned 3G iPhone in June.

Firm says the 3G model will likely feature a redesigned exterior and an entry level price of between $349 and $399. Regarding the exact timing, they note that the iPhone promotion in the UK ends June 1 and the promotion in Germany ends on June 30. Firm reits Buy and $250 tgt
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