Wall Street investors shedded Apple stock on Wednesday following a report from American Technology Research analyst Shaw Wu, who suggested that while Apple is working on a new video-capable iPod, it won’t be out until sometime in 2007.
Wu suspects that a new version of the iPod nano will ship in the fourth quarter of 2006, later than he previously expected it. Wu attributes the delay to a switch in suppliers.
Wu said that a widescreen video version of the iPod is probably on the way, but thinks that it’ll be pushed back to the first half of 2007.
Apple, for its part, does not comment on unannounced products. It last refreshed the iPod product line in February, 2006 with the introduction of a 1GB iPod nano.
The most tantalizing tidbit of iPod intelligence recently came from Terry Gou, chairman of Hon Hai Precision Industry, the Taiwanese contractor who manufactures iPods for Apple. Gou recently told Hon Hai investors that Apple was getting ready to unveil a new iPod that employed a “none-touch” concept, but didn’t elaborate any further.
Hon Hai is the same company recently drew criticism after it was revealed that its factory workers worked longer hours than were permitted under Chinese law. News agencies report that Hon Hai
has since admitted
to the problem.
The stock hit its lowest price in eight months after the report was published. Wu also lowered his price target on Apple shares from $101 to $75. Apple was trading at $55.72, down $1.71, or 2.98 percent for the day, as
posted this article.