By Keerthi Chandrashekar (staff@latinospost.com) | First Posted: Jun 18, 2012 03:57 PM EDT

A man shows a photograph he took on his iPhone of an Apple store in Beijing. (Photo : REUTERS/David Gray)

The release of the new iPhone 5 could make Apple the most profitable, publicly traded company in the world. As it stands, Apple is currently the most valuable company in the world, with a net worth of over $600 billion.

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On Monday, Topeka Capital Markets analyst Brian White wrote a note to investors stating that Apple is poised to continue to dominate the tech industry. The new Macbook Pros, a potential iPad mini later this year, and of course, the eventual release of the iPhone 5 (rumored to be released around September) will all contribute to rising profit margins for Apple.

"In CY12, we believe Apple is poised to generate the highest annual net income of any publicly traded company ever," White wrote.

"On average, we estimate Apple's net income in CY12 will be over 6x higher than the three tech companies on an individual basis (when at a $500 billion market cap) or 1.9x the aggregate profit of these three companies combined. When including all five companies, we estimate Apple's net income in CY12 will be 4x higher than the average."

Topeka Captial Markets and White say that Apple stock should be bought, with a target of $1,111 - nearly double its current value.

KGI Analyst Mingchi Kuo believes that the iPhone 5 will ship around 65-70 million units this year if released around September.

The iPhone 5 is rumored to come with a 4-inch screen, up from the current 3.5 inches of the iPhone 4S. It is also rumored that it will come 4G LTE equipped, meaning download speeds could increase tenfold. A patent recently filed by Apple hints that a removable camera lens and filter could also be a new feature.

Apple is also set to release Apple HDTV, as it attempts to help consumers live a lifestyle in which Apple products dominate.

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