Anticipation was building that Apple would launch the sexy new iPhone at its worldwide developers’ conference in early June. Some had also hoped that God would reappear at the event and send the audience and Apple’s stock to cloud nine.
Alas, it seems heaven will wait.
Piper’s Gene Munster:
WWDC Keynote Will Be Delivered By Phil Schiller; Jobs Likely Absent.
Earlier today (5/13) Apple announced that Phil Schiller, not Steve Jobs, will deliver the keynote for the WWDC event on 6/8. This is
consistent with our expectations as well as Apple’s indications that
Steve Jobs is still planning on returning to the company “at the end
of June” (emphasis added). In order for Jobs to deliver the keynote on
6/8, he would likely begin preparations well before his intended
What We Expect To See (And Not See) At WWDC; No New iPhones. As
indicated in today’s press release, we believe Apple will focus on the
new version of Mac OS X, Snow Leopard at WWDC. While some investors
may be expecting Apple to launch redesigned iPhones at WWDC, we do not
anticipate the launch in early June. Rather, we expect Apple to host a
special event in late June or early July to launch a family of iPhones.
We continue to expect multiple models, possibly a high-end iPhone with
improved specs from the current version and a low-end version with
lower capacity and fewer features along with a reduced pricing plan.
Such a model could also be used in Apple’s launch of the iPhone into
China as soon as the end of summer ’09.
Our Take On Steve Jobs’ Return To Apple. Apple continues to expect the
return of Steve Jobs by the end of June (likely implying after WWDC).
Until then, it appears that day-to-day operations at Apple are running
smoothly. We believe Jobs may return to Apple with a reduced role,
possibly as chairman, with COO Tim Cook assuming the CEO position.
Regardless, we think the transition of leadership during and after
Jobs’ leave of absence will not negatively impact Apple’s business.
SAI’s Apple analyst Dan Frommer, meanwhile, isn’t worried. If Apple launches the new iPhone family and Steve returns “before the end of June,” he says, all will be well.
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