It is all coming to an end tomorrow. The seemingly never ending saga of iPhone 5 speculations have taken their final breaths in the past week. The device has carried such intrigue and following that one sometimes forgets that it is after all a smartphone, not the climax of a multipart blockbuster movie.
Given the history of Apple Inc. (NASDAQ:AAPL)’s famous product launches, everybody is expecting a boost in stock after the release event. The share price has always swung above bars when Apple Inc. (NASDAQ:AAPL) brings new devices into the market. Apple Inc. (NASDAQ:AAPL) released iPhone 4S on October 4 2011. The share price soared to $400 and touched $420 in the proceeding days. Similar healthy upswings were seen when Apple Inc. (NASDAQ:AAPL) released the improved iPad2 in March and share price touched $600. Gene Munster at PiperJaffray has been famous for his bullish views on Apple Inc. (NASDAQ:AAPL). He predicted that the stock would soon reach $700 in the 12 months following the iPad release and also made a forecast that the price would switch to four digits by 2014.
Munster’s latest increasingly bullish thesis on Apple Inc. (NASDAQ:AAPL) states a price target of $910 and expects the sale of 10 million units of iPhone 5 by the end of September. There are strong indications that the actual product will hit the stores on September 21, if that is true then selling 10 million units in less than 10 days would probably be a new record. iPhone sales account for about 70 percent of Apple’s earnings.
Apple Inc. (NASDAQ:AAPL) went above $680 in the last week, it is now trading around $660. The big question is, will it jump above $700 after Silicon Valley’s hottest property is launched tomorrow? The share price will have to jump by 6 percent to break the record, and that is not particularly unusual for Apple Inc. (NASDAQ:AAPL). It rose 13 percent after iPhone 4S release, so 6 percent looks possible. If Apple manages to go above $700, it will beat out its nemesis Google Inc (NASDAQ: GOOG) which recently crossed $700 again after five years. Only in the case of Apple, the sky seems to be the limit.