My "buddy" Kevin Chang at JP Morgan got everyone in a tizzy by claiming Steve is going to turn the iPod nano into a low-cost iPhone.
I've played golf with Kev a few times, and he's a nice enough guy, but it really ticks me off when he tries to one up me. Notice how all the other n00bs laid nice and low yesterday after my report? Not Kev. Says for his "research" he talked to a couple Tawainese factory workers and found this patent on the internet:
Then he makes this brilliant statement:
“We believe that iPod Nano will be converted into a phone because it’s probably the only way for Apple to launch a lower end phone without severely cannibalizing iPod Nano,” he said noting that the new phone could have “rather limited functionality.”
OK let's think about that: you "convert" the nano into a phone because that way you somehow won't be "severely cannibalizing iPod Nano."
So ten year olds want an iPod Nano and now they've got to get a phone? n00b....speaking of rather limited functionality.....
Sorry Kev, but Apple's not turning the nano into an iPhone. Smaller and cheaper iPhone coming? You bet, but it's not going to look anything like the pictures in that patent. Would you buy anything that looks like that? Oh and they're not going to sell 40 million of them in 2008. Dude hype like that is bad for business. Maybe instead of throwing numbers around like that you should think about raising your $125 price target.... which by the way is especially absurd if you really think Apple is going to sell 40 million iPhone Nanos in 2008.
Pretty shoddy work dude... that's why they've still got you stuck on assignment in Tawain instead of hanging with the big boys. Call me when you visit next... I'll spot you two strokes.
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