Apple (AAPL-NASDAQ) has confirmed reports that its iTV that was set to launch will be delayed until mid-March. The company is saying that it is taking longer to wrap up the last issues. This may impact this current quarter models for revenues, but the good news is that this delay is really only two to three weeks. It also would tend to make on think that it will have fewer tech issues and product recalls in the first batches of these that get shipped.
Technology companies often have to make delays ahead of key launches to work out the big glitches. Two to three weeks won’t be the end of the world even for a beloved stock like Apple. If this was a game changing development the stock would be down more. Shares closed down 0.45% at $88.65 in regular trading, and shares are only down 0.4% to $88.30 in after-hours trading after the news broke.
Jon C. Ogg
February 26, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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