“When will the new iPhone come out? And what’ll that do for lagging Apple (AAPL) stock, down 26% this year after a 31% gain in 2012?” Donna Howell asks for Investor’s Business Daily.
“‘A late-September launch of an iPhone 5S and a redesigned iPhone 5’ are among key assumptions that Pacific Crest Securities analyst Andy Hargreaves talks about in a research note Friday. He also lists the launch of a new 9.7-inch iPad around the same time, and expects a November launch for a new iPad Mini Retina,” Howell reports. “Hargreaves bases some of his sales views on an iPhone launch date of Sept. 20 but says Apple ‘could launch its new iPhones earlier than we currently estimate.'”
Howell reports, “With a sticky user base — iPhones users don’t tend to switch — and new Apple products on the horizon with some cost reductions, Hargreaves says increasing confidence in iPhone profits creates an attractive risk/reward for investors. ‘We expect the coming iPhone refresh to drive total iPhone unit volume that exceeds many investors’ current expectations,’ Hargreaves wrote.”
Read more in the full article here.