Apple stock price leaped to a new high on Friday amid rumors it is poised to hit the market with new versions of iPhone, iPad, and Apple TV devices.<\/p>\n
Apple shares were trading at $644.52 mid-day on the Nasdaq exchanged, buoyed by a Jeffries investment bank analyst advising clients that the price could climb to $900.<\/p>\n
The arrival of the iPhone 5 “will be the biggest handset launch in history,” Jefferies investment bank analyst Peter Misek said in a note raising the target price for Apple stock and giving it a ‘buy’ rating.<\/p>\n
Jefferies reasoned that Apple is positioned to take a significant portion of the profit to be generated by hot tends in smartphones, tablet computers, and gadgets linking to the Internet on latest-generation 4G networks.<\/p>\n
The Internet has been abuzz with unconfirmed reports that Apple will introduce a new iPhone, perhaps with a larger screen, at a press event in September.<\/p>\n
The Cupertino, California-based company is also believed to be readying a smaller version of its market-ruling iPad and a revamped Apple TV box, referred to unofficially as “iTV,” that routes video or programming to televisions.<\/p>\n
“We believe the iTV is in full production,” Misek said.<\/p>\n
Jefferies raised its forecast for iPad sales from 18 million to 25 million for the third quarter and from 22-25 million to 30 million for the final three months of this year.<\/p>\n
Apple has the largest market capitalization in the United States, with its stock giving it a value of about $602.25 billion.<\/p>\n
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