Apple Stock Reaches New Highs As iPhone 5 Launch Nears

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Apple Inc. (NASDAQ:AAPL) is skyrocketing to new highs just days before the hotly anticipated iPhone 5 launch is expected. The share price crossed the 680 mark with an over $3.8  surge in previous close price of  676. 27. The price is swinging between 675-681 for today so far.

The Apple Inc. (NASDAQ:AAPL) share price also went through a major surge around Aug 20, where it jumped from $648 to 665.15. The stock has swerved between 656- 676 during the past weeks.

Apple Stock Reaches New Highs As iPhone 5 Launch Nears

Apple Inc. (NASDAQ:AAPL) has been pushing all barriers to reach the production limits, the tech mogul has intensified manufacturing in all of its hardware counterparts in China and Korea. Judging by how well the stock is performing lately, any bearish view on how the market will work for Apple after iPhone 5’s release seem like junk. The present growth point to a great earnings per share outlook for the next quarter that is Q4 for FY2012.

The device is expected to be available in stores at the end of September. The sales will become the part of Apple’s next quarter only marginally and will still make up for a better Q4 than the below expectation Q3 earnings results.

The missed earnings for the last quarter were largely due to increased disinterest in iPhone 4S when a new and better version is going to be released soon. Apple Inc. (NASDAQ:AAPL) has gone through some production hiccups due to problems in its major component manufacturers and transition to in-cell touch technology but we are expecting a great couple of quarters ahead.

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