Bound component value isnt updating

I have this component:

App.AppTestComponent = Ember.Component.extend({
  tagName: 'input',
  type: 'text',
  value: undefined,
  attributeBindings: ['type', 'value'],

  valueObserver: function() {
    console.log('This code is never triggered');
  }.observes('value')
});

I bind the value attribute using the attributeBinding, but when I change the textbox value, the value property isnt updating, and the valueObserver isnt triggered.

How do I bind to the value attribute of a input type="text"? Do I have to extend from Ember.TextField?

Here's an example of the problem: http://ift.tt/1BISz4i