Apple Inc (AAPL)

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08:10 AAPL Apple: iPhone business model the key at WWDC - Lehman (185.37 )

Lehman says AAPL remains their "top pick" in the IT Hardware space. On June 9, firm expects co to reveal the 3G iPhone, elaborate on the new iPhone SDK (software developers kit) and iPhone enterprise features and launch the iPhone "App store."

Firm believes that the most important revelation at the WWDC could be around the iPhone's business model in terms of how AAPL will drive unit volumes with the carriers. Firm does not expect to see any new Macs at the event but do still expect new redesigned notebooks to surface next quarter and help Sept quarter results. Firm is currently modeling iPhone unit sales of 1.7 mln in fiscal 3Q (ends June) and sales of 2.55mm in fiscal 4Q.