Apple’s shares gained three percent on rumors and speculation

Apr 30, 2013 10:21 GMT  ·  By

Apple’s shares gained three percent yesterday following rumors that the Cupertino giant was preparing a summer iPhone launch. But analysts in Asia are telling us not to hold our collective breath for the rumor to pan out.

MarketWatch reports, “Apple […] shares advanced for a third day on speculation that iPhone 5S could roll out as early as July.”

The WSJ-owned paper mentions that, despite getting picked up by numerous media outlets, including ourselves, the rumor doesn’t hold water.

It quotes analysts at Credit Lyonnais Securities Asia as saying, “No way. Component suppliers are only beginning to ramp production in June/July. Phone will not hit until late summer/early fall.”

That’s what Tim Cook himself suggested during his company’s quarterly earnings call last week. The Apple CEO specifically said that customers and investors alike should be looking out for new hardware products in the fall timeframe.