Apple Inc. (NASDAQ:AAPL) Shoot Up To Near $700 As Investors Continues To Cheer Latest Developments

With smart marketing techniques and a flawlessly timed launch, Apple Inc. (NASDAQ:AAPL)’s iPhone 5 might be able to double the sales of its predecessor in the first week itself. Analysts are predicting a figure of 33 million units being sold in this quarter! Perhaps this is an indication that the supply problems that plagued the earlier models have been taken care of this time.

The latest offering from Apple will be shipped from September 21 and is expected to reach 100 countries by the year end. Though the model is not outstanding, the company’s shares shot up after the unveiling, as opposed to the launch of the 4S model when the shares fell. Shares of AAPL soared another 1.60% to $693.87, after hitting another high of $695.86. Analysts are betting on shares increasing by as much as $200 in December and coming between $750 and $1,000.

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FBR Capital Markets is among the firms that share the opinion of $1000 a share. The new iPhone is incorporated with a 4-inch "retina" screen that projects an image of higher resolution. It is lightweight and will make use of the much-awaited high-speed 4G LTE wireless networks, which will give it an edge over its rivals. Barclays has further added that the holiday season will be extremely beneficial for Apple due to the launches of new Macs and the iPad Mini.

Apple will score in another area – the prices of older models will be slashed, as William Blair & Co have stated. The iPhone 4 will be available free after subsidies and will be an apt substitute for the 3GS model. The brokerage has predicted that sales of all iPhone models will jump up by 29% to 33 million for the July-September quarter.

Janney Capital Markets expects the new iPhone to sell 7 million to 10 million units at the end of September, while RBC is more optimistic, quoting a figure of 8 million to 10 million units to be shipped. Credit Suisse states that high-end smartphone sales will shoot up by 20% next year and Apple will grab a 47% share, surpassing its long-time rival Samsung.