Apple's iPod Touch Hits the Stores

by: FP Trading Desk

Checks indicate Apple Inc.’s (NASDAQ:AAPL) highly-anticipated iPod Touch is now appearing in several stores in larger cities, with most of the music players priced at US$399, UBS analyst Ben Reitzes said in a research note.

The iPod Touch was announced on September 5 and the 16 gigabyte version could ship by September 28, according to Apple’s Web site.

The availability of this new iPod could help Apple’s product mix, as Mr. Reitzes outlined in recent comments.

He forecasts 11.5 million iPod unit sales in the fourth quarter of 2007, representing growth of 32% annually and 17% on a quarterly basis.

Mr. Reitzes rates Apple shares a “buy” with a US$182 price target.