Apple (APPL) Stock: Shares Up In Anticipation of iPhone 5s Release
As it unveils Tuesday two new iPhones at 1pm ET, Apple is entering a crucial stage in trajectory shareholders hope will boost the company's stagnant growth.
Apple (AAPL) closed Monday with prices up 1.60% to a $506.17 close as anticipation grew for Tuesday's product release event unveiling the new iPhone 5s and a cheaper budget iPhone product. Still, shares were down about $2 in the early start to Tuesday. Over the month, shares have gained more than 10% over the month in anticipation of the unveiling.
Apple second year under Chief Executive Officer Tim Cook has been less successful than his iniatial year as the company has paled to competitor Samsung in the lead for smartphone sales in the global market.
In the latest last count, Samsung shipped between 72 million and 76 million smartphones last quarter, while its iPhone competitor came in at a mere 31.2 million units. Still, Apple has retained its lead in overall mobile traffic across all devices, including the iPod music player and iPad tablet devices.
Writing in the New York Times' "Bits Blog," Nick Bilton claims the newest unveiling could "make or break" the company that has seen competitors gain momentum in the global smartphone market.
Echoing these claims, Tim Bajarin, president of Creative Strategies Inc., told Los Angeles Times, "The stakes are higher for Apple to deliver superior hardware, software and services."
Check back here for further stock updates as the release is announced.