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Piper Jaffray online media analyst Gene Munster joins the panel for this conversation. Following is a synopsis of his main points.
What's going on?
About a week ago we started to pick up on iPhone shortages on the East Coast, explains Munster, and yesterday the US was basically sold out. This is unheard of for a company like Apple [AAPL
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Such as…
A new iPhone, replies Munster. We think it will be similar to what’s out now, but slimmer and have new applications.
What’s the timing of the release?
Last night I talked with a Taiwanese component supplier who said it could be out in limited numbers as early as the end of this month, Munster says. This just shows how well Apple keeps things stealth.
Seems like a peculiar strategy?
They typically do this, he adds. Apple doesn’t want to get caught with a bunch of iPhones and we’re seeing the channel wind down. This is a critical product for Apple. It doesn’t make sense that they’d just be out of stock.
Is the stock a buy on this shortage?
Yes, says Munster. We feel confident there is a 3G phone coming.
I agree fully, adds Pete Najarian. And also look at Nokia [NOK
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It’s a weird product transition, counters Jeff Macke. They better have a 3G phone coming and not just be out of stock!
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Trader disclosure: On Apr.2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (YHOO), (INTC) Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (CROX), (MSFT), (NYX), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF); Pete Najarian Owns (AAPL), (CSCO), (ETFC), (MU), (NOK), (TSO) , (YHOO), (XLF); Pete Najarian Owns (AA) Calls, (BSC) Calls, (COP) Calls, (MSFT) Calls, (LEH) Puts, (MER) Puts, (OIH) Puts; Pete Najarian Has A Long Diagonal Time Spread In (RIMM)
Piper Jaffray Is A Market Maker In (AAPL)
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