by Christopher Freeburn | October 7, 2013 11:11 am
Here are your Apple rumors and AAPL news items for today:
Bigger: When Apple (AAPL) launches its next-generation iPhones next year, it will abandon the 4-inch displays it adopted with last year’s iPhone 5, BGR notes. According to Peter Misek, an analyst at Jeffries, the next flagship iPhone will sport a 4.8-inch screen. Prior to the iPhone 5, the iPhone’s screen had remained at 3.5-inches since the first iPhone launched in 2007. The move to a larger screen was a concession to the expanding market for larger-screen smartphones. A number of recent reports indicate that Apple has been experimenting with larger-screen iPhone prototypes. Most analysts have predicted that Apple would eventually increase the size of the iPhone’s display in order to match popular smartphones from Samsung and other rivals that feature increasingly larger screens. Misek also raised his price target for Apple from $450 a share to $600 a share. He now considered the stock a “Buy,” noting that improved margins would “allow Apple to skate by until iPhone 6 launches” with its larger screen. Last month, Apple launched its new iPhone 5s and iPhone 5c, both of which have 4-inch displays.
All Clear: U.S. regulators have ended in investigation of Apple’s overseas cash holdings and taxes, AllThingsD notes. The probe was launched four months ago by the U.S. Securities and Exchange Commission (SEC) after the iPhone-maker came under criticism in Europe and the U.S. for using overseas locations like Ireland to lower the amount of taxes it pays on revenue generated in international markets. Last month, however, the company received a letter from the SEC indicating that the agency had finished its review of Apple’s finances for fiscal 2012 and that no action would be taken against the company. Apple has agreed to release more information regarding its overseas financial arrangements and tax payments.
Objection: On Thursday, Apple said it would appeal a judge’s ruling in its e-book price-fixing case, AppleInsider notes. In July, federal judge Denise Cote found the company guilty of conspiring with five publishers to raise prices for e-books sold through its iBookstore. The Department of Justice, which sued Apple over the allegations, has proposed remedies that include years of independent monitoring of the company’s e-book sales and contractual agreements with publishers. Apple had previously indicated its intention to contest the verdict, but did not formally notify the court of the appeal until last week. The legal battle now moves to the Second Circuit Court of Appeals.
For more about the company, check out our previous Apple Rumors stories.
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