Apple’s shares closed at an all time high of $648.11 as speculation mounts that the company is going to announce a new iPhone and along with it a smaller iPad and iTV. So far, the rumors about the new iPhone were circulating only in the tech industry but it appears that Wall Street investors saw an opportunity in them and decided to jump at it. Rumors about the new iPhone crept up first in May and since then the shares went up by 22% to reach their record high.
It is expected that Apple is going to announce the new iPhone on September 12th which is less than a month away now and the smartphone is supposed to reach the stores a few weeks after that. There have been several leaks about the alleged smartphone and its new features and increased size and these are in tune with the reports received from the suppliers, most of whom are based in Asia.
The new device is also going to feature a better processor, a superior camera and quite possibly a smaller dock connector than the existing devices. In addition to the new phone, it is possible that the company is going to release a smaller version of its popular tablet, the iPad. This device is speculated to have a smaller screen at 7.85” and is going to be competing with the likes of the Amazon Kindle Fire and the Google Nexus 7. While some analysts also believe that the company is going to announce iTV, a television set, a significant number are of the opinion that this will not happen till next year.
he increase in the stock comes after a fall in the prices after the release of the second quarter results earlier this month. Sales of the iPhone fell considerably from the previous year and this caused a significant drop in share value. It is possible that sales of the company fell as users would rather buy the new version when it comes out than get stuck with one that is soon going to be outdated. On the other hand, iPad sales have been as strong as ever and it continues to dominate the tablet market with a significant margin. If a smaller version is indeed released, it is likely that customers will prefer it to the Amazon tablet owing to the strong foundation that Apple already has.
