Here is your daily Apple (NASDAQ: AAPL) stock news and rumors for September 21, 2010. There’s a new report that indicates the Verizon iPhone may not be as rough on AT&T as some think. Also, a new deal points to high def Apple TV and Adobe continues its Flash push on Apple products.
AT&T Won’t Lose its iPhone Users to Verizon: Financial services group Credit Suisse has found that AT&T (NYSE: T) doesn’t have as much to fear from the release of the long rumored Verizon (NYSE: VZ) iPhone as previously thought. Their results were based on a broad survey of AT&T’s mobile customers, not just iPhone users. Contrary to what many analysts have predicted, Credit Suisse has found that only 23% of current iPhone users in the United States are interested in switching to Verizon once that provider offers iPhone support. CS said 63% of current customers would actually stick with AT&T going forward. Other telecoms are even less of a threat to AT&T. Only 3% of users said they would switch to a Sprint (NYSE: S) iPhone and just 2% would switch to Deutsche Telekom (PINK: DTEGY) subsidiary T-Mobile if given the opportunity. When combined with other data compiled in the survey, Credit Suisse found that the introduction of a CDMA Verizon iPhone would only cost AT&T 1.4 million iPhone users. While not a number to sneeze at, 1.4 million users represent only a fraction of the current iPhone user base in North America. Credit Suisse has actually raised their price target for AT&T stock to $35, up from $27.
New Licensing Deal Points to High Definition Apple TV: The new streamlined Apple TV unveiled at the beginning of September came as a surprise after months predicting a more robust reboot for the technology. The new Apple TV was going to be rebranded iTV and support 1080p video output, not a tiny low cost box with very little storage capacity, according to the tech rumor mill. If Piper Jaffray analyst Gene Munster is to be believed, the beefier Apple TV is still on its way, and while it may not be called the iTV as previously expected, it will be a whole lot more powerful that the new set top box. Apple signed a confidential multi-year agreement with Rovi Corporation (NASDAQ: ROVI) yesterday and Munster believes this is evidence that the Cupertino, California company is developing an all-in-one Apple HDTV. “We believe this announcement is further evidence that Apple is developing live TV and DVR features for its Apple TV product, and will likely launch an all-in-one Apple Television in the next 2-4 years. Following its deal with Rovi, Apple would be clear to add live TV, DVR and guidance features to its Apple TV product, which we believe is a critical step towards an all-in-one Apple Television.” Given Google Inc. (NASDAQ: GOOG) ambitions with Google TV, it would make a great deal of sense for Apple to target TV buyers directly with their own device.
Adobe Releases Photoshop Elements 9 and Premiere Elements 9 for Mac: It has been a good month for editing software giant Adobe (NASDAQ: ADBE) on Apple’s platforms. The company has seen partial support for their multimedia tool Flash coming to the iOS portable operating system and they’ve also released a beta version of Flash for 64-bit operating systems including OS X. Today, Adobe has launched the latest editions of Photoshop Elements 9 and Premiere Elements 9, their respective photo and video editing software suites, for both Microsoft (NASDAQ: MSFT) Windows and Apple Inc.’s Mac platforms. This marks Premiere Element’s debut on Mac computers.
As of this writing, Anthony Agnello did not own a position in any of the stocks named here.
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