Apple Trades Near $660 as Speculated iPad Mini & iPhone 5 Launch Nears

Apple’s stock has been rising steadily over the last couple of weeks ever since rumors of the iPad Mini started increasing in frequency. Apple is expected to launch the next iPhone — the iPhone 5 — and a cheaper version of the iPad – the iPad Mini — at an event on September 12. As the date gets closer, we expect Apple’s stock to continue at all-time high levels.

The iPhone 4S had excellent sales despite being only a marginal improvement over the iPhone 4. Compared to that, the iPhone 5 is expected to be a major upgrade.

Apple may also unveil a new iPod, as well as the Apple TV. If that does happen, Q4 2012 could end up being Apple’s biggest quarter yet with sales driven by 4 major product lines.

Apple currently has a market cap of around $615 billion, with its stock trading at nearly $660. Its P/E multiple is around 15 right now. However, given the kind of growth it has shown in the last couple of quarters, its PEG ratio would actually imply that it is undervalued, assuming it can maintain its recent growth rate. If it does launch these new products, I find it hard to argue that it wouldn’t.

via Apple – Google Finance

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