Piper Jaffray analyst Gene Munster confirmed today that the asset management company no longer expects an Apple-branded TV to be launched in the future. The news is courtesy of Munster’s corporate memo updates and follows yesterday’s confirmation, by The Wall Street Journal, that Apple abandoned its plans for such a TV over a year ago.
Munster was well known for touting beliefs that the Cupertino company would launch an Apple TV in the near future, rumors which were rekindled in large part thanks to a direct quote from Steve Jobs in the Apple CEO biography by Walter Isaacson. The analyst began predicting a 2012-2013 launch year for the product in 2011, with other news and rumors circulating that year, and in the years since, helping propel the so-called branded TV. Apple.
The latest prediction came just last December, with Munster estimating the TV would cost around $ 1,500 with a 2016 launch. Today, the Piper Jaffray analyst notes that if the news confirms Apple was working at some point. on a television, the company was actually wrong in its “constant expectation of the product”. Munster notes that the company was also wrong about the reason for the delay, and now the cancellation, of the project, having less to do with core content and more to do with the lack of specific untapped features in the crowded TV market. .
“We’ve been talking about an Apple TV for most of the past decade. While it’s a small consolation that the article claims Apple was actually working on a TV during that time, we ultimately messed up our expectation. product constant. Originally we expected content to be the cause of the delay; however, we misidentified the real reason for the delay, which was a lack of perceived killer features as reported by the WSJ. mistakenly assumed that a combination of Siri, FaceTime, a TV app store, and PrimeSense-based motion control could be compelling enough as a single feature set for the device. “
Piper Jaffray now lines up with most of the other parties after Apple, believing that the company will announce a revamped Apple TV at WWDC in June and “finally launch the new device in September or October.” In line with other rumors, the analyst believes the new Apple TV will integrate Siri, HomeKit, and an App Store.
Munster ends today’s memo by commenting on another suspected future product from Apple, predicting that as the company progresses, television is less likely to be the focus of the show thanks to the growing presence of the virtual and augmented reality. “We believe Apple is actively working on the first virtual and augmented reality products,” Munster said. “Although we may be over 5 years from the launch of these products.”