Apple’s Q4 guidance may imply September device launches

Apple CEO Tim Cook and his supporting cast of executives have said on several occasions that the company has several exciting new products in the pipeline that will begin rolling out this fall. Everyone is expecting an iPhone 5S, a new entry-level iPhone, a completely redesigned iPad and maybe even an iWatch to debut over the next few quarters, but the question on Apple fans’ minds — and on investors’ minds — is when will all of these new products begin launching? Alongside its fiscal third-quarter results, Apple on Tuesday issued Q4 revenue guidance of $34 billion-$37 billion, which one industry watcher believes points to a late September launch for at least some of Apple’s new products.

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“We don’t think that Apple can hit its newly issued revenue guidance for the September quarter unless it launches new products,” BTIG analyst Walter Piecyk wrote in a research note on Tuesday evening. ”After delivering $35 billion in revenue in the June quarter, management guided to $34-$37 billion next quarter. Revenue would more typically drop multiple billions if the company had no new products planned. With September quickly approaching, this could be the start of a string of new product announcements that increase investor confidence in Apple’s ability to return to EPS growth next year.”

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Piecyk reiterated his Buy rating on Apple shares with a $540 price target.

This article was originally published on BGR.com