“It is widely expected that Apple will introduce the iPhone 5 on September 12, 2012,” Nigam Arora writes for Forbes. “Traditionally Apple stock runs higher into a major product launch. However, this time iPhone 5 frenzy has turned into a full-fledged mania. Adding fuel to the fire is speculation that the mini iPad will also be announced on the same day.”

“Yesterday Apple stock broke out to an all time high. Based on the number of shares outstanding, this price calculates a market cap of $623.5 billion. Apple just beat the market cap record set by Microsoft on December 30, 1999 of $618.9 billion,” Arora writes. “It was not long ago that analysts were concerned about the law of large numbers. Now everyone has become oblivious to the concern. Apple mania is in full swing. Astute investors will enjoy the party but keep an eye on the exit.”

Read more in the full article here.