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Piper Jaffray comments on Apple (NASDAQ:AAPL) saying they believe Apple will introduce redesigned iMacs at a press event tomorrow (8/7). The iMac has not been updated in 334 days vs. a product average of 168. Since early this summer when AppleInsider first issued the story, they have been anticipating an iMac update with a radically new form-factor.

If Apple releases a new iMac tomorrow, they believe it may provide upside to PJ Sept. quarter Mac estimate of 1.9m. Apple seems to be replicating its iPod strategy in the Mac business. For the past two years Apple has announced new iPod models in Sept., ahead of the holiday shopping season; this year Apple is announcing upgraded Macs ahead of the education buying season. And similar to the successful holiday quarters in CY05 and CY06, the firm expects Mac sales in the CY07 education season to be strong.

Piper also believes a new iMac would shift investor focus away from the early stages of iPhone sales and back onto the more significant story of Mac market share growth. Maintains Outperform and $211 tgt.

Notablecalls: Is this enough to create some serious buy interest in AAPL today? I'm not quite sure. But I do expect some early interest. An iMac with a new form-factor sounds kinda kewl.

Source: Piper Expects New Apple iMacs Tomorrow; Could Ignite Buy Interest in Stock