As debate as to whether or not an Apple television continues to rage on, at least one analyst thinks it may be named “iPanel.”
In a note to investors today, Jefferies & Co.’s Peter Misek raised his target price on Apple stock from $699 to $800. While this isn’t that big of news as it seems everyone and their brother is adjusting their targets as of late, what is intriguing is that he bases part of this adjustment on the rumored Apple television. While many have been referring to it as “iTV” for some time, as we already know there are some possible legal issues surrounding that name. Instead, Mr. Misek writes, “We now believe the iTV could be called “iPanel” as it is far more than a TV.”
The reasoning behind his declaration is that the British broadcaster ITV does own the global rights to the name, and it seems unlikely that it would license its name to Apple. iPanel, on the other hand, is currently owned by Crestron, “which discontinued its product line and is focusing more on Apple products to integrate in their system.” Mr. Misek also points out that it would be more consisten with Apple’s other products such as iPod, iPhone and iPad to keep the “iP” beginning to the name.
Defending the iPanel name even further, Misek explains, “It is a display, gaming center, media hub, computer, home automator, etc. Also, Apple would likely have difficulty getting naming rights from the UK TV network ITV.”
Of just about any analyst who has written about the possibility of an Apple television, Misek seems to have done the most research and has one of the most well thought out reasonings that I’ve seen yet. Down to analyzing satellite photos and building permits for Apple’s North Carolina data center doubling in size – which he feels is being done to handle video – it seems he has covered all of the bases. In the summation of his analysis, Misek says he foresees the introduction happening in the fourth quarter of this year and has gone on to raise his target for fiscal year 2013 for Apple from $198 billion to $214 billion based off the television and other products.