Here are your Apple rumors and AAPL news items for today:
Variety: Apple (NASDAQ:AAPL) will release an overhauled iPad and possibly two iPhones this year, iLounge notes. The fifth-generation standard-sized iPad will debut in October and will feature a much thinner profile, possibly adopting IGZO touchscreen technology to shave millimeters off its thickness. The new iPad will also feature smaller bezels, following the iPad Mini’s lead. The next iPhone, the iPhone 5S, will be an update to the current model, which may frustrate some Apple enthusiasts, but could feature a larger rear flash for camera use, and will debut in October. A lower-priced iPhone is also under development, apparently for emerging markets like China. The low cost iPhone will feature a plastic casing to reduce costs. Finally, a 4.7-inch screen iPhone is in development, dubbed the iPhone +, but is unlikely to be released this year.
Dethroned: The recent sharp slide in Apple’s share price has cost the company the title of the “worlds most valuable company,” CNET notes. Exxon Mobil (NYSE:XOM) has reclaimed the title as Apple shares dropped to $439.23, putting its market capitalization at $412.7 billion, compared to Exxon’s $417.2 billion. The two companies have been vying for the title since 2011, but Apple pulled past the global energy giant in August as its shares rose sharply, ultimately exceeding $700 a share. Rising concerns about its competitiveness against Android smartphones, especially those from Samsung, and quarterly results that missed inflated Wall Street expectations have sent the stock tumbling since.
Betting on the Future: In documents filed with regulators on Thursday, Apple revealed that it spent $1 billion on research and development during the December quarter, the Los Angeles Times notes. That’s up 33% from the same period in the previous year. During a conference call relating to its recent quarterly results, company officials assured investors that Apple had a full pipeline of new products in development. Among those new products could be the long-rumored Apple-branded TV.
For more about the company, check out our previous Apple Rumors stories.