The iPhone maker is seeking protection for the name, which is listed in a category for products such as a handheld computer or watch, according to a June 3 filing with the Japan Patent Office that was made public last week. Takashi Takebayashi, a Tokyo-based spokesman for Apple, didn’t respond to a request for comment.
Apple’s shares have retreated more than 40 percent from a record high in September amid concern that Chief Executive Officer Tim Cook has taken too long to deliver a new breakthrough product to help make up for stiffer iPhone competition. The company has a team of about 100 product designers working on a wristwatch-like device that may perform some of the tasks now handled by the iPhone and iPad, two people familiar with the company’s plans said in February.
“We can expect a full TV at Apple in the future, maybe a watch, and who knows what other future devices,” Tavis McCourt, an analyst at Raymond James & Associates Inc., wrote in a research report today. He upgraded the shares to strong buy with a $600 target price. “New connected devices, whether they are TVs, cars or other devices are likely to be first adopted by high income consumers, over whom Apple dominates globally.”
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