Apple shares (NASDAQ:AAPL) rallied on Monday prior to the company’s event on Tuesday where it will be revealing its tenth anniversary iPhone along with other software updates and new product launches.
Apple shares which have rallied by more than 40% this year is currently trading at around $161.50 which is 1.81% higher than the previous trading session. The stock of the iPhone maker hit an all-time high of $164.94 last month on optimism regarding the release of a brand new iPhone version.
Investors which reacted positively to reports that the next iPhone would be offered at a starting price of $1,000 has been mostly optimistic regarding the company’s stock after the company posted positive sales numbers and a steady demand for its current iPhone flagship which is the 7 and 7 Plus despite the upcoming release of a new unit.
According to reports, the company would be unveiling not one but three iPhone units this Tuesday with one being offered as the premium unit. Apple is also reportedly working on another iPhone release next year.
Aside from a new iPhone, the company is expected to release the final version of the iOS 11 as well as a brand new Apple Watch with cellular connectivity as an added feature which will make it easier for users to connect it with an iPhone.
The talks surrounding the upcoming product launch has sent the shares of the company higher during the past couple of weeks. However, Apple shares briefly plunged week on reports that the company is facing production issues surrounding the production of the next iPhone.
By Tuesday’s opening session, the shares of the company traded higher as the Apple event draws closer. Reports reveal that the company would be naming two of the devices iPhone 8 and 8 Plus while the premium device would be called the iPhone X in line with the event.
Aside from the unveiling of the new flagship phone, the company is also expected to announce a release date for its HomePod smart speaker which was revealed earlier this year as well as an update or glimpse into the Apple Park which is expected to cater around 12,000 Apple workers.