Second JP Morgan Report Calls Nano iPhone Into Question

After a report by JP Morgan analyst Kevin Chang that Apple was preparing to convert its iPod Nano into a mobile phone sent its shares to an all-time high of $132.35 Tuesday (+1.5%), three JP Morgan colleagues of Chang's issued a second report questioning the veracity of his report. JP Morgan analysts Bill Shope, Elizabeth Borbolla and Vlad Rom said Apple was more likely to release a 3G version of the iPhone next and questioned Chang's assertion that a patent filing by Apple indeed did refer to a Nano iPhone, saying the filing "gives little information on actual upcoming products." In his report, Chang also cited unnamed supply chain sources. A JP Morgan spokesman addressed the discrepancy between the two reports saying, "it's not unusual for two analysts to have slightly different views," as the analysts in question cover different tech sectors.

Sources: The Age, AP, tuaw.com
Commentary: Apple To Convert iPod Nano To Mobile Phone In 4Q -- Analyst • iPhone Watch: Sales May Be Slowing, Software Upgrade Rumors Abound • iPhone: A Look Inside
Stocks/ETFs to watch: Apple Computer Inc. (AAPL), JP Morgan (JPM). Competitors: Nokia Corp. (NOK), Motorola Inc. (MOT), Ericsson ADR (ERIC), Palm Inc. (PALM), Research In Motion Ltd. (RIMM). ETFs: Internet Architecture HOLDRs (IAH), PowerShares QQQ (QQQQ), Technology Select Sector SPDR (XLK)
Conference call transcripts: Apple F2Q07 (Qtr End 3/31/07) Earnings Call Transcript

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