Here are your daily Apple Inc. (NASDAQ: AAPL) stock news and rumors for August 26, 2010. Apple finally sets the date for their big September video event and music will be the belle of the ball, the next generation of iPod Touch and the iTunes music service taking center stage. The iTV is also said to be making its debut at the event but will not make the big splash earlier reports said it would. Finally, the iPod Touch and iPhone get new video streaming options as Netflix (NASDAQ: NFLX) updates its app for all APPL mobile devices.
Apple Media Event for New iPod Set for September 1: While Bloomberg was predicting yesterday that AAPL would host an event to announce their refreshed technology offerings, the company themselves sent out invitations to media outlets to let them know the proper date and time. Apple will hold their media-centric press event on September 1 in San Francisco. The invitation includes a picture of an acoustic guitar, leading many to believe that the event will focus greatly on Apple’s new music related products and services, specifically the next generation of iPod Touch and its long-rumored streaming iTunes service. A new streaming version of the iTunes service has been expected since Apple acquired web-based music outlet Lala earlier this year. While Apple’s new iTunes is still expected to offer a significantly different user experience, Media Memo’s Peter Kafka reported this morning that music industry executives are expecting a streamlined web-based version of iTunes with numerous new social features and not cloud-based streaming of purchased music as has been expected. The new iPod Touch that will be unveiled is rumored to include a 5 megapixel camera. Refreshes of the iPod Shuffle and iPod Nano are also expected.
Jobs: New iTV Will Not Be a Mainstream Hit: While the new iPod line and web-based iTunes service will be the stars of APPL’s September 1 media event, it is also expected that the Cupertino, California company will unveil their new television device and service said to be called iTV. While reports earlier this week indicated that AAPL was preparing for a major roll out of the iTV at a media event on September 7, the company is now intimating that they will be quietly bringing iTV to market. Bloomberg writer Peter Burrows, following up on his report that Apple would be aggressively backing the new iTV at the September 7 event, now says that the $99 set top box iTV will only represent the “tail end” of Apple’s video strategy. The technology company will instead highlight their new television services, particularly the 48-hour, 99 cent TV show rentals, as expansions of their entertainment options on mobile devices like the iPod Touch, iPhone 4, and iPad. Citing a “person familiar with Apple’s plans,” Burrows wrote that Apple CEO Steve Jobs is not convinced the iTV will be a mainstream hit.
Netflix Updates App for iPod Touch and iPhone: Netflix’s streaming video application available in the iOS App Store got an update yesterday making it compatible with the iPhone and iPod Touch rather than just the Apple iPad. Netflix subscribers can view any movies or television shows available on the video rental company’s Instant Watch service. Users can also manage their account information. The app is compatible with 3G Apple devices as well, requiring only that the device run operating system version iOS 3.1.3 or later.
As of this writing, Anthony Agnello did not own a position in any of the stocks named here.
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