Gene Munster Gives Up

Also on CNBC:

For years Piper Jaffray’s closely followed analyst Gene Munster proclaimed that Apple would soon launch a television set. On Tuesday, he offered a mea culpa after a report surfaced that the company gave up on the project more than a year ago.

“This is a tough day for me. It’s a hard reality to accept, and I think that is the reality of it: the TV is on hold,” Munster told “Squawk Alley.”

He continued to say, “It’s a small consolation that they were aggressively looking at this. At the end of the day, I was wrong.”

$10 says he doesn’t stop asking about it on the quarterly analyst calls.

★ Tuesday, 19 May 2015