Thursday, May 10, 2007, 12:40 pm PT (03:40 pm ET)
Apple hints at video rentals through iTunesApple Inc. strayed from making any material announcements during its shareholders meeting on Thursday, but did hint that it will offer video rentals through iTunes at some point in the future.
"Timing of this is difficult to determine, but we would expect [iTunes video rentals] sometime in 2008," said PiperJaffray analyst Gene Munster, who attended the shareholder gathering in Apple's hometown of Cupertino, Calif.
No stock split
In a note to clients, Munster noted that an Apple stock split is looking less likely in the near term. "We do not expect a stock split in the next several months (previously we were expecting the company would split the stock)," he wrote. "Apple may be adopting a more Google-like approach (i.e., not-splitting shares and allowing the stock price to move out of historical ranges)."
No iPhone delay
Another key takeaway from the meeting, according to the analyst, was that the company's iPhone remains on track to ship next month. "There have been some rumors suggesting that the iPhone could be delayed," he explained. "Chief executive Steve Jobs confirmed iPhone will be in the market next month (June)."
AT&T won't buy out your existing cell contract
In one final tidbit, Munster noted that non-AT&T subscribers will need to make the move to the wireless carrier on their own if they seek an iPhone.
"The company indicated that Apple and/or AT&T will not 'buy-out' non-AT&T subscribers that are looking to purchase an iPhone, but are currently tied to a contract with another carrier (this is as expected)."
On Topic: General
- Apple hit with class action lawsuit over alleged labor violations, more then 20K plaintiffs involved
- Apple completed 29 acquisitions in past nine months, not including Beats
- NBA star Kobe Bryant discusses day with Apple's Jony Ive set up by simple cold call
- Apple granted comprehensive 'iTime' smartwatch patent with in-strap circuitry, arm gesture support
- New Apple ad shows off sticker-clad MacBook Airs, calls it 'the notebook people love'