“Apple Inc. has been racking up steady gains over the past few weeks as expectations have built up around the widely anticipated launch of its next iPhone, which could come as early as next month,” Dan Gallagher reports for MarketWatch.

“Growing speculation and leaks in the media are feeding into expectations by investors, who remain highly keyed on the next update of what has become Apple’s largest product, accounting for a majority of both revenues and profits in the first nine months of the current fiscal year,” Gallagher reports. “The stock has picked up nearly 12% following a short-lived selloff that resulted from its July 24 earnings report, which showed a sequential decline in iPhone sales ahead of the new launch.”

Gallagher reports, “The device expected to be designated as the iPhone 5 is believed to feature a redesigned, thinner body, larger touch-screen and the ability to connect to the latest generation of LTE networks. It will also feature the iOS 6 version of the mobile operating system that Apple previewed in June and set for a launch date of ‘this fall.’ …Recent media reports say the company is planning a Sept. 12 event to announce the new iPhone ahead of a market launch later in the month, likely adding to the company’s results for its fourth fiscal quarter.”

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