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Apple Inc. (AAPL) Stock Reaches New High on Rumors – Or Truth?

Apple Inc. (NASDAQ:AAPL), already the most valuable company in the world, is adding to its value Friday as the stock has moved up nearly 1.5 percent from its Thursday close to surpass the $645 mark based on the latest chatter regarding the September launch of a new iPhone and a rumored launch of new and updated devices. The new stock level surpasses the past all-time high of $644 in April and ends a four-month funk for the stock.

Apple Inc. (NASDAQ:AAPL)

For the record, Apple Inc. (NASDAQ:AAPL) has not made any official announcement that a new iPhone or iPad Mini is coming – it has all been based on chatter and hints. Some definitive “hints” have also come out very recently, as there has been a step-up in tablet production at some partner manufacturers, as well as TV component manufacturers, with one of them admitting tht Apple Inc. (NASDAQ:AAPL) has just been added as a client. All of the feedback deals with behind the scenes activity, as several manurfacturers are reporting increases in production in recent weeks.

This recent news has stepped up the chatter for a new iPhone, new iPad, iPad Mini and even an iTV set-top box, with the design of showing live cable television. Talk has been that Apple Inc. (NASDAQ:AAPL) is talking with cable companies – and even wireless companies like AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ).

With all this news, analyst Peter Mizek of Jefferies & Co., has raised his price target on Apple Inc. (NASDAQ:AAPL) stock to a whopping $900 a share, which would be a 40 percent premium on its current record-setting level. If Aple can get past the $668 mark per share, it would become the most valuable company of all time, surpassing a $618 billion valuation on Microsoft Corporation (NASDAQ:MSFT) achieved in late December 1999. Mizek said his analysis indiates that the iPad Mini and iTV are in full production and on schedule for a fall release.

For those who have been invested in Apple Inc. (NASDAQ:AAPL) stock for the long term will likely be enjoying this news, including the new stratospheric target price. Apple is one of the most popular position among all hedge funds, which include Greenlight Capital, run by David Einhorn (see his billion-dollar portfolio).

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