Jul 23, 2014 - 05:15 PM EDT — AAPL: 97.19 (+2.47, +2.61%) | NASDAQ: 4473.697 (+17.681, +0.4%)
“2013 will be a very important and eventful one in the land of Apple as the company is expected to move from an annual product upgrade cycle to a six-monthly one, giving Apple’s stock a big boost, market experts told CNBC on Monday,” Wall Street Pit reports. “‘We’re on the cusp of an enormous product upgrade cycle and we think Apple’s earnings are going to be dynamite in the 4th quarter,’ said Channing Smith, co-manager of the Capital Advisors Growth Fund, on CNBC’s ‘Squawk on the Street.’ Smith said he expects Apple’s stock to grow 20% over the next few years and retest its all time highs of $705.07, achieved just ahead of Apple’s iPhone 5 launch in September, 2012.”
WSP reports, “Meanwhile, Eric Jackson, founder of Ironfire Capital LLC, said besides speeding up the product upgrade cycle for the iPhone series to a six month cycle instead of a 12 month cycle, Apple is expected to introduce some new products in FY 2013, including the much-anticipated ‘iTV’ slated for November, and possibly even an iCar system, which would control navigation and entertainment in automobiles.”
Read more in the full article here.