Bear Stearns analysts Andy Neff told clients on Wednesday that he recently had a meeting with Apple CFO Peter Oppenheimer and Vice President of iPod Product Marketing Greg Joswiak.
Joswiak spoke about the direction Apple is going, Joswiak said he is feeling "optimistic about the company's "continued innovation and twin drivers."
Neff wrote, "Ultimately, Apple's goal is to create a product that customers would want (as opposed to creating new technology merely for the sake of technology), while focusing on areas where it can differentiate," continuing with, "Apple noted that it has a number of products currently in development that are likely to be introduced over several years."
The analyst also wrote referring to the newly announced iTV, "Though details remain sketchy, Apple emphasized focus of iTV to improve user experience by leveraging its software expertise and implied that there may be features beyond the mere streaming of video content," [sic]
Apple had previously acknowledged that the iTV will be capable of streaming music, photos and podcasts but has never commented on the situation with movies.
Andy Neffs meeting with Apple execs pointed towards an "internal hard disk drive for storage" and "advanced user interface software."
On another note Bear Stearns has upgraded Apple from a price target of $94 per share to $100 per share. With a rating of outperform.