Piper Jaffray’s Gene Munster ends the week with a note to clients as to what to expect from Steve Jobs at Apple’s World Wide Developers Conference on June 9.
Here's what Munster thinks we can expect:
- New iPhone Well duh! However, Munster cautions investors not to have over the top expectations regarding the new iPhone. He expects the new iPhone to look much like the old iPhone except with a 3G chipset and that we shouldn't look for a new-look iPhone until at least January '09.
- New iPhone OS The revamped OS X iPhone will mark the point where the iPhone's hardware is opened up to third-party developers.
- New MacBooks The MacBook's been around it its current form for a few years now, and Munster says that there's a 60% chance Jobs will introduce new MacBooks in time for the back-to-school feeding frenzy.
I think that Munster is right to urge investors to reign in their expectations of Jobs because no matter how much the iPhone MKII is hyped, the reality is that it's not going to be anywhere near as exciting as the original iPhone. Overhyped expectations could lead to crushing disappointment, which in turn could have an adverse effect on Apple's stock price.
We've had the exhilaration of the initial release, now we will get a few rounds of refinement. This won't be all that exciting for investors, but it does mean good news for customers.