The company is expected to schedule an event for some time late August, in which it will unveil the nextGen iPhone, which is also expected to be a dual band phone, able to work on CDMA and GSM networks. Numerous brokerages have raised their price targets above $500 per share, as they expect the stock to outperform in the second part of the year. Last week, Apple said that its new Lion OS topped on million downloads in the first day of availability.
Meanwhile, Apple (NASDAQ:AAPL) climbed 1.3% to $403.70 after posting a new all-time high at $404.50, as momentum in the stock continued following the stellar earnings report from last week and as numerous brokerage houses have raised their target prices above $500 as they expect outperformance in the second half of the year to continue amid the launch of the next generation iPhone in September. Apple crossed the $400 mark for the first time ever in regular session, after HTC Corp., the Taiwanese smartphone maker, said that it willing to negotiate with Apple for the use of its patents, after the U.S. International Trade Commission ruled on July 15th that HTC had infringed 2 Apple patents.
Apple (NASDAQ:AAPL) fell 2.68% to $392.59, with the stock accelerating its losses in the afternoon, giving back its prior session gains. Apple was weak along the whole market over uncertainties regarding the global growth amid debt woes, which spur participants to shun risk and take some profits in highflying names like Apple, which have rallied from $310 in mid June.
Apple (NASDAQ:AAPL) fell 0.20% to $391.82 after trading as high as $396.99. During the session, there were some rumors and speculation that the tech giant has discussed internally the possibility to make an offer for Barnes & Noble (NYSE:BKS).
Apple (NASDAQ:AAPL) fell 0.34% to $390.48 after chopping around the neutral line on most of the session after trading as low as $384 on concern over the debt ceiling negotiation and as GDP retreated with consumers pulling back in the first and second quarter and as consumer sentiment fell to the lowest in almost 2 years. The tech giant, which had its cash holdings compared with the U.S. government, was still seeing participants willing to buy on weakness as analysts expect outperformance from Apple in the second half of the year.
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