Apple Stock Jumps As iPhone 5 Approaches

Apple’s stock price hit new highs this week, contrary to the long-held belief that it would drop following the resignation of Steve Jobs as CEO. But analysts and investors continue to speak highly of the stock.
Strong rumors are pointing to a product announcement on Oct. 5 that could be the new iPhone 5. In addition, the new phone could become available on more networks in the U.S. such as Sprint or T-Mobile.
An iPhone 5 would probably carry iOS 5, the long-awaited update to the iPhone operating system. It may be made available to iPhone 4 and iPad users at the same time. iCloud, Apple’s replacement for MobileMe, would likely also be released at the same time.
Apple produced an update this week to Final Cut Pro X. This update included the ability to export and import projects, paving the way for integration with other tools.