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Bear Stearns analysts Andy Neff, Bill Hand and Ted Chung sent a note to clients summarizing their take on the new Apple (NASDAQ:AAPL) iMacs with the Core 2 duo. Excerpts follow:

New AAPL iMacs with Core 2 Duo Compellingly Priced versus Wintel. Looking at the new iMac configurations just announced this morning with Core 2 Duo processors across the board and lower entry-level pricing, AAPL’s products are once again priced very competitive, e.g., 20% below comparable Sony (NYSE:SNE) Vaio system -- AAPL iMac at $1,674 vs. SNE VAIO at $2,100 -- despite SNE system configured with a slower processor, lower-end video card, same HDD/DRAM capacities, and slightly smaller screen (see the table below). Reminder: AAPL is expected to introduce new iPods as well as new video products (device/content) -- “It’s Showtime” according to AAPL -- on Tuesday, September 12.

Stock impact: positive for AAPL (compellingly priced products ).

aapl core 2

AAPL 1-yr chart:

AAPL 1-yr chart

Source: The New Apple iMacs are Compellingly Priced