Tim Cook announced that an extremely interesting autumn awaits us with many important products to be launched by Apple Lossless Audio CODEC (ALAC),. Barclays analysts they are equally excited and they tell us that the next months will bring us products that will make the whole world pay attention to the Apple company. iPhone 5S, Cheap iPhone, iPad Mini 2, new models of MacBook Air, MacBook Frone or Mac Mini, iOS 7, iPad 5 and possible new iPods are waiting to be launched, and they would greatly increase interest in Apple.
We believe the near-term set up is still quite positive. First, we feel better about gross margins — we believe that our estimates for the June and September quarters are conservative given potential trends in warranty accruals, mix and Apple's pricing plans. Second, we believe Apple is about to change the narrative and get investors, analysts, customers and the media finally talking about new products again — starting with a software/services/Mac event on June 10th and a likely iPhone/iPad event in September. Third, upon further reflection — we didn't fully appreciate at first how much of a relief it was for Apple to unveil a bigger buyback. As a result, the buyback's size may help the multiple a little more than we even thought a few weeks ago.
Everything will start on June 10 when Apple will officially present iOS 7 worldwide and will most likely release the first beta version of the operating system, but Macs and OS X 10.9 they will not be kept waiting. The summer will be very interesting, especially since several beta versions of iOS 7 will be released during it, and if we think that new models of Macs and OS X 10.9 are expected in the same period, then we easily realize that in Cupertino there will not be many holidays granted this summer.
