Apple (NASDAQ:AAPL) TV Sales Reach 1 Million, Not Relevant Yet

Kaufman Brothers said the announcement by Apple (NASDAQ:AAPL) that they reached 1 million in sales for Apple TV was "Immaterial" at this time, but is considered a positive based on future contributions to the company.

Kaufman said, "While this is in line with the higher-end of expectations of 1 million units per quarter and fairly modest at a $400 million annual revenue run-rate for a company consensus is modeling $88 billion in fiscal 2011 revenue, we nonetheless view it as a positive as we firmly believe Apple TV has the potential to become a more material contributor and game changer in the TV space."

Concerning Apps and Apple TV, they added, "This capability isn't available today but we believe it could be added fairly easily as Apple TV uses a similar A4 processor architecture as the iPhone, iPad and iPod touch."

Apple was trading at $325.21, up $1.01, or 0.31 percent, as of 11:53 AM EST.