Wednesday Apple Rumors: iPhone 5 Announcement Due Oct. 4

Here are your Apple news items and rumors for Wednesday: iPhone 5 Announcement
Coming Oct. 4: All Things Digital reported Wednesday that the long-suspected
Apple (NASDAQ: AAPL ) press conference to announce the next iPhone will take
place Oct. 4. This information came from sources close to the situation . Apple
was expected by analysts to announce its new iPhone at the end of September with
an early October release to follow, but All Things Digital s source indicates
the new smartphone will release a few weeks after the press conference. The
seeming delay could be the result of rumored production problems hampering the
iPhone 5s release . The event will be the first major product reveal from the
company since Steve Jobs handed over the CEO reins to former COO Tim Cook.
Shareholders worried that a Jobs-less Apple might fumble a new product launch
shouldnt be concerned considering Apple shares continue to break records . China
Booms Ahead of iPhone 5 Release: Brian White, analyst at Ticonderoga Securities,
issued a note to investors (reprinted at Apple Insider ) discussing the state of
the Chinese telecom industry and things are going pretty well over in the
largest country on earth. The number of subscribers using 3G mobile phones grew
a whopping 7.8% in August, bringing the total number of users to 93.8 million.
White believes this rampant growth will continue throughout the fall, leaving
China with 125 million 3G subscribers by the end of the calendar year. The
highly anticipated iPhone 5 is going to play a key part in this growth as well.
Investors would be wise to pay attention to China Mobile (NYSE: CHL ) and China
Telecom (NYSE: CHA ) as the iPhone 5s release nears. While both companies stocks
are trading near 52-week highs, the iPhone 5 will be the first Apple product
available on those respective networks. Fall 2011 could prove an auspicious
season for the Chinese telecom industry. Kazaa Finds New Life on iPhone and
iPad: Back when the Best Buy -owned (NYSE: BBY ) Napster digital music service
was the face of Internet music piracy, a number of other small file-sharing
services sprung up in its wake. Among those was Kazaa, a peculiar company that
attempted to monetize file sharing before it was driven into obscurity by
copyright infringement litigation in a number of countries. Owner Sharman
Networks has resurrected Kazaa as a new streaming music and Internet radio
service on the iPhone and iPad. The new service, which costs $10 per month,
works almost identically to others like Rdio and Spotify. Its a curious new
entry in a market thats growing more crowded by the day . As of this writing,
Anthony John Agnello did not own a position in any of the stocks named here.
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