Apple: UBS, Piper See Pent-Up Demand Come Oct. 4th

Some instantaneous Street response has been trickling in to Apple’s (AAPL) announcement it will hold an iPhone-related press conference at its headquarters on October 4th.

Piper Jaffray’s Gene Munster writes that he expects there will be one new unit, the “iPhone 5,” as he terms it, with a larger screen and “thinner form factor,” or $199 and $299 retail (after subsidy). The iPhone 4 may be dropped to $99, with some slight update to its components, and will be rebranded the “iPhone 4S.” There will be no “low-end” iPhone added to the line-up, he writes.

With a nod to the “let’s talk” phrase in the invite, Munster guesses voice recognition technology will be unveiled.

Munster thinks demand from Verizon Communications (VZ) customers, especially, will be strong, given the current model was six months old when it came to Verizon in February.

UBS’s Maynard Um expects additional feature announcements related to the upcoming iOS 5 update, and Apple’s iCloud service.

As for the hardware, “We believe a refreshed iPhone 5 will boast enough physical improvements to drive another strong adoption cycle. Although screen resolution should remain the same, we expect an improved front/back camera resolution, faster network technology, a faster A5 processor, improved graphics performance, and potentially thinner/lighter form factor.”

Apple shares are up $2.61, or 0.7%, at $405.78.

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