Updated: JPMorgan Retracts “iPhone Nano” Analyst Prediction

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Date: Wednesday, July 11th, 2007, 09:06
Category: iPhone

iphone.jpg
If it sounded too good to be true, it was.
According to Engadget and several other outlets, yesterday’s optimistic comments from JPMorgan analyst Kevin Chang have been retracted by the company.
The rebuttal took place in the form of a document put forth by the firm’s North America Equity Research division. Here, JPMorgan states that the firm “has not been able to independently confirm” Chang’s comments without a second source and mentions that a “lower-end iPhone appearing in the near-term would be unusual and highly risky.”
Also mentioned in the document are several suggestions that a “high-priced, non-subsidized 3G model” will surface “in the first half of 2008.”
Full images of the retraction can be found here courtesy of The Unofficial Apple Weblog.
Update: An article over at TimesOnline states that a well-placed source at JPMorgan claimed the retraction was “completely erroneous” and that the firm stood by the original comment.
“In no way are we retracting what Mr Chang said,” the source said. “We express our view through research documents, and the way the market reacts to them is a function of the market.”
The disparity has been noted as two analysts’ views differing on the information at hand when analyzing Apple’s stock.
If you have thoughts or comments on this, let us know what you think by way of the forums.


iphone.jpg
If it sounded too good to be true, it was.
According to Engadget and several other outlets, yesterday’s optimistic comments from JPMorgan analyst Kevin Chang have been retracted by the company.
The rebuttal took place in the form of a document put forth by the firm’s North America Equity Research division. Here, JPMorgan states that the firm “has not been able to independently confirm” Chang’s comments without a second source and mentions that a “lower-end iPhone appearing in the near-term would be unusual and highly risky.”
Also mentioned in the document are several suggestions that a “high-priced, non-subsidized 3G model” will surface “in the first half of 2008.”
Full images of the retraction can be found here courtesy of The Unofficial Apple Weblog.
Update: An article over at TimesOnline states that a well-placed source at JPMorgan claimed the retraction was “completely erroneous” and that the firm stood by the original comment.
“In no way are we retracting what Mr Chang said,” the source said. “We express our view through research documents, and the way the market reacts to them is a function of the market.”
The disparity has been noted as two analysts’ views differing on the information at hand when analyzing Apple’s stock.
If you have thoughts or comments on this, let us know what you think by way of the forums.

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