Here are your Apple rumors and AAPL news items for today:
Wait Confirmed: Speaking with reporters and analysts during a conference call about Apple‘s (NASDAQ:AAPL) quarterly results on Tuesday, CEO Tim Cook indicated that new products would not launch until fall, Forbes notes. Without citing any specific products under development, Cook noted that the company had “some amazing new hardware and services” coming in the fall and next year. The remark appears to support a number of analysts who said supply chain sources were indicating a September or October launch for the next generation iPhone. Cook also noted that Apple would not release a larger-screen iPhone until it had resolved some of the “significant tradeoffs” that rivals had made in making their large-display smartphones. A number of reports indicate that Apple is developing a smartphone with a larger display than the 4-inch screen found on the iPhone 5. While some reports had projected a launch for a bigger iPhone later this year, Cook’s remarks suggest that a larger-screen iPhone won’t debut until next year at the earliest, if at all.
Lesser Grade: Despite $145 billion in cash reserves and no debt, Apple didn’t receive a AAA debt rating from Moody’s Investor Service, Bloomberg notes. The company is planning to borrow money to finance a plan to return $100 billion to shareholders through higher dividends and a $50 billion share repurchase program. In granting Apple’s commercial paper a grade one level below the top grade, Moody’s noted “shifting consumer preferences” in the technology market. Apple has received a credit rating below Microsoft (NASDAQ:MSFT), Exxon Mobil (NYSE:XOM) and Johnson & Johnson (NYSE:JNJ). Moody’s assigned Apple an Aa1 rating, while S&P gave it an AA+ rating.
Upcoming: Apple has announced the dates for its annual Worldwide Developers Conference, CNET notes. This year’s WWDC will take place between June 10 and June 14, at San Francisco’s Moscone West Center. The annual meeting focuses on changes to Apple’s Mac and iOS systems. The conference is closely watched for clues about soon-to-be-launched Apple devices. Tickets for the event cost $1,599.
For more about the company, check out our previous Apple Rumors stories.