Through The Fly's Eyes: Apple Inc

from Laurie Pasternack of Theflyonthewall.com

Apple Schedules Event for September 5th

This morning, Apple (AAPL) confirmed a media event on September 5th. According to digital invitations to analysts and media, the company is planning to introduce "a new array of digital media offerings" at the event, called "The Beat Goes On."

Rumors are swirling that the "digital media offerings" may include a new variety of Mac OS X-based iPods. In addition, sources close to the matter believe CEO Steve Jobs, who generally unveils new iPod models before the start of the holiday season, may announce offerings related to the company's digital media download service and iTunes software.

Apple hasn't released a new iPod model in over a year, so exactly how sure are the analysts? According to Piper Jaffray analyst Gene Munster, "I would say 99 percent chance it's new iPod." Munster said he believes the company is looking to "closely focus its business" and related segments around its Mac OS X operating system, instead of reports to the contrary. Bloomberg reported sales of the iPod and music on iTunes accounted for nearly 40% of Apple's revenue last quarter. Based on this, a new generation of iPods would be great for the company, as a way to keep their offerings fresh and may likely cause users to upgrade their models. Consumers, too, appear to be excited over an impending announcement: Shares of Apple were up more than 4.15% in mid-day trading.

As for components, according to analysts, along with redesigns of the video iPod and iPod nano, the new iPods may incorporate the recently-released iPhone's 3.5-inch touch screen. The third-gen iPod nano may include video capabilities and come in five new colors, but may still contain storage capacity of 2GB to 8GB. There is less speculation regarding the sixth-gen video iPod, but at 70% certainty, Munster said it could be widescreen, with WiFi capability, and may have storage capacity of up to 160GB. The Piper Jaffray analyst, who believes Apple is "entering the two strongest quarters in the company's history," also puts the lowest iPod price point to $299 from $249.

Be sure to mark September 5th on your calendar, because if new iPods are indeed announced, you won't want to miss it.