Jobs Continues To Surprise At Apple Event

Apple's (NASDAQ: AAPL) Steve Jobs introduced a refreshed line of iPods, Apple TV, a rejuvenated version of iTunes as well as iOS 4.1. According to a Deutsche Bank Report, the event mainly in line with expectations. Based on valuation, the shares are rated a Buy.

Highlights from the iPod portfolio include an even small iPod shuffle for $49. The nano is given an even smaller form factor with a multi-touch screen and is priced stating at $149 which was consistent with expectations. The iPod touch now has Facetime with a front facing camera, retina display and HD video and starts at $229 for the 8GB model.

Apple TV received a complete makeover starting with the new price of $99. It can now stream Netflix (NASDAQ: NFLX) movies and HD TV rentals from ABC and FOX. Prices range from $0.99 to $4.99.

The new iTunes upgrade includes Ping, a social network for music. Ping will make the new iTunes more interactive for users.

Deutsche Bank has a price target of $375 on Apple.

Apple closed the day yesterday at $250.33