Apple Recap: New iPhones, Catalyst Demand, Verizon’s Love

Apple (NASDAQ:AAPL) closed more than 2.6 percent up on Tuesday, reversing a four-day losing streak and recovering from having touched a 52-week low mark on Monday. The stock closed on $431.14. Here’s a cheat sheet to company news making the buzz on Tuesday:

New iPhones On Way

Apple will announce the successor to its iPhone 5 as well as a low-cost version of its smartphone in one go in June, according to KGI Securities analyst Ming-Chi Kuo. The two devices will be out in the market by July, he added. The supposed iPhone 5S will have a faster A7 processor, a Smart Flash technique for higher-quality photos, and a fingerprint security chip built with help from AuthenTec, which Apple acquired last year. The device may also have a larger battery than its predecessor, but will likely sport the same aluminum body. The cheaper iPhone, meanwhile, will be made out of fiberglass and plastic. Both new phones would also, most likely, come equipped to be compatible with China Mobile’s (NYSE:CHL) TDD networks, although those models may not be available until September due to testing and network design processes… (Read more)