Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, October 7, 2011

Article Excerpt

APPLE INC., $369.80, Nasdaq symbol AAPL, unveiled the latest version of its hugely popular iPhone smartphone this week. This new version, called the iPhone 4S, features a faster processor, a better camera and software that lets users enter commands and search the Internet by speaking instead of tapping the screen. However, investors were expecting an entirely new iPhone instead of an upgraded version of the current model. That caused the stock to fall 6% after the iPhone 4S was announced. However, it soon recovered these losses. Apple also announced that Sprint Nextel Corp. (New York symbol S) will become the third wireless carrier in the U.S. to sell the iPhone. Right now, only AT&T and Verizon offer the device. In addition, Apple has cut the prices of its older models. These moves should help the iPhone increase its market share in the face of rising competition from smartphones that use the Android operating system developed by Internet search provider Google Inc. (Nasdaq…