October could be the release date of Apple’s iPhone 5, according to technology analyst Piper Jaffray Co.’s Gene Munster.
In a report this morning, the Washington Post quoted Munster as stating that he is revising his earlier prediction of an August release for the latest version of Apple’s wildly selling iPhone line, following chipmaker Qualcomm’s reported difficulty in meeting supply demands.
Munster had earlier disclosed that Qualcomm’s radio chips will be included in the next generation iPhone, allowing for faster connection to the Internet.
He had earlier recommended that investors buy Apple stock, predicting that the release sometime this summer of the iPhone 5 would raise projections for financial results by the last quarter of the current year.
Early descriptions of the latest generation iPhone said it will feature a new body design and will work with faster wireless networks.
iPhone users will see an even faster connection for heavy-duty mobile operations such as Web browsing or watching videos, as the new iPhone will be working with the so-called long-term evolution or LTE, wireless networks being built by AT&T Inc., and Verizon Wireless.
The current model, iPhone 4S, released in October last year has been Apple’s fastest-selling product, accounting for 53% of its sales in just one quarter ending in December 2011.
Investors looking to the October release of the latest iPhone version are at the same time watching Apple’s stocks which closed at $587.81 in yesterday’s trading in New York, down 3.4% from the previous day, but up 50% from last year.
Apple is still holding firm to the title of the world’s most valuable company.