Friday Apple Rumors: Updated iPad for Christmas

New LED backlight and display will make iPad slimmer and cooler


daily apple rumors  300x180 Friday Apple Rumors: Updated iPad for ChristmasHere are your Apple rumors and AAPL news items for today:

iPad to Receive Technology Upgrade: Apple (NASDAQ:AAPL) will release an updated iPad by the end of this year featuring a single-LED backlight and IZGO display technology, Apple Insider reports. The rumored updates would allow Apple to reduce the iPad’s thickness, while solving heating issues associated with the two-LED backlights in current iPads. The newly updated model would feature better battery life and will hit shelves in time for the holiday shopping season.

Apple ipad 3 promo photo 2 200x151 Friday Apple Rumors: Updated iPad for Christmas
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New iPhone to Get Faster Chips: Apple is planning to introduce quad-core processors in its next-generation iPhone, according to DigiTimes. The quad-core chips would be made by Qualcomm (NASDAQ:QCOM). Smartphones from Samsung, HTC and LG already feature quad-core chips, so the move is seen as necessary to keep pace with escalating smartphone competition. Other rumors say Apple will adopt Samsung’s Exynos 4 quad-core processor in its new iPhone. The new iPhone is expected to debut in either September or October.

Apple Shares to Explode: Topeka Capital Markets analyst Brian White has reiterated his stock forecast for Apple on CNBC’s Fast Money. White says with the looming introduction of the next-generation iPhone and the possible debut of a smaller iPad sometimes this fall, the company’s shares could hit $1,001. That would give Apple a valuation of about 18 times current earnings. Adding to the stock’s value, says White, are the eventual release of an Apple-branded TV and a deal to bring the iPhone to China Mobile (NYSE:CHL).

For more about the company, check out our previous Apple Rumors stories.

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