Gene Munster is skeptical that Apple's guidance of lower margins for the rest of the year in its Q3 conference call back in July, and expects the company to continue to outperform expectations.
The Piper Jaffray analyst said that lower prices for NAND flash memory will offset any reductions in price for new iPods introduced last month.
Munster speculates that even with an introduction of a sub-$1,000 MacBook before the end of the year, Apple's margins will remain healthy. Yes, it will have an impact, but not to the degree that Apple execs hinted in their phone call: Munster thinks margins would only fall to around 30 percent.
In fact, Munster says "investors would see the lack of redesigned, lower-priced Macs as a more significant negative than they would a 30 percent GM guide in the December quarter." (Emphasis mine.)