A mockup of the iPhone 5. (Photo : idealschina.com)
The iPhone 5 should be revealed within a month, at an Apple event on September 12. If the reports are true, the iPhone 5 will be in users hands as early as September 21. Jeffries analyst Peter Misek expects the iPhone 5 launch to be the bigget handset launch in history, and the rumors are fueling a surge in Apple's stock.
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At around 3:00 p.m., Apple stock was trading for over $646, an all-time high over the previous high of $644 back in April.
The global securities and investment banking group Jeffries estimates that 170 million smartphone users globally will be free of their contracts by the end of 2012 and 450 million more in 2013.
The reason this is important is that these 620 million people will then have the option to renew a two-year contract with a new phone at a lower price. More likely than not, a large number of these people will opt for the iPhone 5.
"We therefore see significant and very fertile ground for the iPhone 5's success," said Misek.
The iPhone 5 will be the biggest overhaul to the iPhone in a long time with 4G capabilities and a larger screen among other features. The last release, the IPhone 4S, was essentially the same model as the iPhone 4 with some tweaks.
Jeffries thinks that Apple will have around 15 million of the iPhone 5 in inventory by mid-September.The report also speculates that an iTV will be rolled out sometime in 2013.