Apple, Inc. (NASDAQ:AAPL) is shifting production of iPhone and iPad displays to Sharp Corp. in Japan. It may also introduce a television with screens from the same partner as early as the middle of 2012, Jefferies & Co. said.
Peter Misek said in an interview, that “it gives Apple a partner that they can control manufacturing and secure supply at a lower price.” Apple will make a modified version of what are known as amorphous TFT displays and will likely begin commercial production of what he called iTV in February. Rival TV makers are likely at least 6 to 12 months behind, Misek said. Besides diversifying away from Samsung for displays, Apple has shifted some purchases of flash memory from Samsung to Toshiba Corp, he said. The deal with Sharp gives Apple more control over manufacturing. Samsung Electronics Co. is a growing rival in smartphones and tablets.
Here’s how Apple closed trading into the holiday:
- Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $369.25, down $7.26, or 1.93%. Its market capitalization is $343.18 billion. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 13,751,235 shares versus a 3-month average volume of 20,007,700 shares. The company’s trailing P/E is 13.34, while trailing earnings are $27.68 per share. About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Get the most recent company news and stock data here >>
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