FORTUNE -- Although there is no shortage of iTV speculation -- thanks to rumor sites like Taipei-based DigiTimes -- and plenty of Apple (AAPL) analysts ready to calculate to the penny how much an Apple-branded TV set would add to the company's bottom line, some experts have started to back away from what was once seen as an inevitablity.
In December, Richard Gardner, formerly of Citigroup, warned that "Apple has not even defined specs yet." In February, Barclays' Ben Reitzes suggested that Apple was focused more on lining up TV content partnerships than on the production of a TV set.
Now Pacific Crest's Andy Hargreaves has poured what may be the coldest water yet on the idea. In a note to clients issued Monday, he makes two points: (I quote)
As it happens, I agree with Hargreaves (see here), although he goes on to say that Apple is more likely to be building an iPad mini. That one I'll believe when I see it.
Two very different iPhone reports -- with very different perspectives -- were published this week.
One, from Citigroup's Richard Gardner, focused on the short-term. He looked at inventory levels in Apple's supplier channels, saw levels coming down, concluded that iPhone sales over the holidays were soft, and lowered his Apple (AAPL) price targets for the next three years.
The other, from Generator Research's Andrew Sheehy, took the long view. He reviewed Apple's MOREPhilip Elmer-DeWitt - Jan 14, 2009 9:32 AM ET
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