Apple Inc. (NASDAQ:AAPL) computer has set September 9 as the day it will unveil its much anticipated new iPhone 6 and wearable products, as momentum investors continue to like the stock ahead of the new product release. The stock reached a new record high today, trading above $102 per share in early afternoon trading.
Apple to hold its event at Performing Arts center
The product release will be held at an event at the Performing Arts center near Apple’s headquarters in Cupertino, CA, according to a Bloomberg report.
At the event, Apple is expected to reveal its two new iPhone models, one with a 4.7 inch screen and another with a 5.5 inch screen, significantly larger than the current iPhone and more in keeping with competition from Samsung.
The computer company is also set to release fashion product that could become a larger part of its revenue stream as the “internet of things,” a world where smart computers are integrated into everyday life, becomes more of a reality. The company is set to release a new wearable device, the first ne product category since 2010 when the company launched the iPad, then a revolutionary product. ValueWalk has noted on several occasions that the monster battle to control the computer networked life – with Apple and Google leading contenders – could redefine the core landscape for the corporations for years to come.
Apple reveals some and conceals more details of the product launch
Like a good event and PR marketer, Apple left some room for the imagination without revealing much in the way of details for the product launch. “Wish we could say more,” the company said in the event invitation, according to the Bloomberg report. Apple has been not only a leader in designing products that are easy to use and sleek in their simplicity, but the products have always had a “cool factor” that speaks to a upper end consumer who is willing to pay up to receive the Apple experience.
Momentum players are willing to pay up as well. The stock price of Apple continued to rise heading into the new product launch. Shorter term algorithmic traders may have entered the stock near the 18th of August and continue to remain long, while longer term momentum players likely started piling into the stock in April of this year.