Shares of Apple Inc.(NASDAQ:AAPL) popped up quckly in early session on Monday and rose as much as 2.20% to $597.92 after failing to hit $600 mark earlier in the session. The stock made session high of $599.44.
Last week, the stock fell below $600 mark and touched as low as $570 as the company failed to meet analysts’ estimates on back of lackluster demand for its iPhone. However, despite recent weakness in earnings, analysts believe that the company will come back with strong demand for new version of iPhone, which is speculated to be launch by October late year.
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Before earnings, analysts were somewhat expecting the company to report lackluster earnings as there were estimating lower iphone’s demand as tech lovers were expected to postpone their buying to get better updated versions. As a result, analysts were recommending to buy the stock at every fall and this is what happening now. Buyers are moving back into the stock, which has created another bullish round for the world’s most valued company.
This morning, The blog iMore is reporting that the company will hold a launch event for both devices on Wednesday, September 12, with the new phone to ship on Friday, September 21. The report is attributed to “sources who have proven accurate in the past.”
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Also to be launched on the same date, according to the report, will be a new version of the iPod nano. The post says the release date for what everyone has been calling the iPad mini also could be September 21. The report speculates that a new iPod Touch could debut at the same event.