The Apple logo is pictured outside the Apple store in Santa Monica, California Aug. 24, 2011.Mario Anzuoni/Reuters
Expectations are rising for the next generation of the Apple iPhone. All Things Digital has a roundup of some recent rumours surrounding the iPhone 5, noting that one of Apple Inc.'s manufacturing partners is producing 150,000 iPhones a day, and is schedule to produce a total of 6 million of the mobile devices in September alone.
An analyst at BTIG estimates that Apple will sell 21.5 million iPhone 5s in the fourth quarter alone – and potentially far more if it adds Sprint as another carrier in the United States. Apple hasn't yet announced when the new device will be launched, but the scuttlebutt is some time in October.
Apple shares have been riding the same roller coaster as the rest of the stock market over the past month or so. Since hitting a high of $404.50 in late July, they fell below $355 in August. They have since recovered most of that lost ground and are currently up 3 per cent since Steve Jobs resigned as the company's chief executive in late August, raising concerns about whether Apple can continue to produce popular leading edge consumer technology devices.
Year-to-date, though, Apple has been a star, with the shares up 20 per cent, versus a 4.9 per cent decline for the broad S&P 500.
David Berman