Apple is obviously one of the richest tech companies in the world, next to microsoft. They've been releasing products left and right over the past decade, and now we can expect the latest version of the iPhone to come out soon. They are quite ecstatic. According to analysts, this could prove to be one of Apple's greatest days in technology history. As a result, share prices have gone up and are expected to rise a tremendous amount in the coming days. We don't yet know the full details of the iPhone 5, but you can be sure we'll keep you posted as the news comes out.
"Less than one month ago, shares of Apple plunged after the company's third-quarter earnings "disappointed" the bean counters on Wall Street. Less than a month later, shares of Apple are up more than 12 percent and are again trading at an all-time high. In fact, earlier today, Jefferies & Co. raised its price target from $800 to $900, as Apple's valuation now tops $600 billion.
If you want to understand why, cue up the 1960s' hit by The Happenings, "See You in September."
That's when the iPhone 5, the biggest, worst-kept secret in techdom, is expected to be announced. Peter Misek, the Jeffries analyst responsible for Friday's price upgrade, described the upcoming product launch as "the biggest handset launch in history." Earlier this week, longtime Apple analyst Gene Munster suggested that Apple will sell 26 million to 28 million devices in its September quarter should its latest iPhone land 10 days before the end of the month."