Months before it’s expected launch, the iPhone 5 is already starting to get a lot of hype. The latest in this observed phenomenon is a new ratings upgrade by Wells Fargo putting Apple shares on an “Outperform” rating.
According to the financial firm, they have raised Apple’s rating “given what we believe will be the biggest product launch in consumer electronics’ history,” referring to the iPhone 5 launch, a report from StreetInsider notes.
“New iPhone launches and the resulting earnings upside driven by demand have historically been the biggest share catalysts for Apple,” Wells Fargo said in guidance to its clients.
Wells Fargo gives Apple a valuation range of $640 to $660.
Nonetheless, this dubbing of the iPhone 5 launch as the “biggest ever” in consumer electronics’ history should not be surprising as past launches of previous iterations of the iPhone have also been dubbed the same in the past.
The iPhone 5 is expected to be launched sometime this October.
Image from marc.flores on Flickr (CC)