A few years ago iPhones were a luxury item. Now, everyone seems to have one and it can drive an entire market. (Photo : REUTERS/Aly Song)
How important is the upcoming Apple event on September 12? For starters, without any numbers, it should be when Apple unveils the hotly-anticipated iPhone 5 and iPad Mini along with some new iPods. When numbers are taken into account, it's easy to already see the impact the event is having on Apple's stock. The world's most valuable company's stock is skyrocketing, and has one analyst saying that it could go as high as $900.
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Apple stock opened on Monday, August 20 at around $650 and as of 12:48 p.m., has already jumped to $661.48 and has a current market capitalization of over $620 billion. It also hit an all-time high at $664.75 earlier on Monday, making the most valuable company even more valuable.
Jeffries & Co. has been following the Apple rumor mill for a while, and has been speculating on the impact this fall will have on Apple. Analysts from the firm have declared the iPhone 5 to be the must-have consumer electronics device of 2012.
Jeffries Analyst Peter Misek even went as far as revising his previous Apple stock price prediction of $800 to a whopping $900, citing that the iPhone 5 could be "the biggest handset launch in history."
If these numbers are any indication, and if you believe that the economy works on a "self-fulfilling prophecy," then it looks like Apple is in for a record-breaking fall. With the iPhone 5 pulling attention back to Apple within the smartphone market, and the iPad Mini ready to open up a whole new budget tablet market for the company, Apple will have plenty of devices that are bound to be best sellers. Not only will its value and market capitalization climb to new heights, but it will secure a place among consumers that will be hard for competitors such as Samsung to deal with.