Apple’s latest financials reveal yet another solid quarter, but with CEO Steve Jobs on medical leave since last January, the company’s shares have been dwelling in limbo.
Over the past 30 months the company’s share prices have quadrupled, but since Jobs’ medical leave the company has only experienced an 11 per cent rise this year.
“This stock is still very attractively priced, especially relative to the overall market,” said Channing Smith, co-manager of the Capital Advisors Growth Fund, owner of Apple shares.
Even with Jobs tending to his health, a booming second half is expected with the supposed release of the next generation iPhone. Alone, Reuters reports the iPhone accounts for 40 per cent of Apple’s revenue.
Apple’s usual tradition is to release its highly anticipated iPhone series in June, but the company has yet to announce a predecessor to the iPhone 4, let alone release one.
It is believed the next iPhone will be released in September, and will feature a dual core processor, a thinner body and an 8 megapixel camera. Also being launched is Apple’s iCloud music service and updates for its computers and phone devices.
