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Wearables Authors: Elizabeth White, Yeshim Deniz, Zakia Bouachraoui, Liz McMillan, Pat Romanski

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Rumor: iPhone 5S to Launch by June in 5 Colors, 2 Screen Sizes

iPhone 5SAfter a seven-month run that took Apple shares to an all-time high in late September, the company’s stock plummeted more than 25% and touched new lows as 2012 drew to an end. According to Topeka Capital Markets analyst Brian White, Apple’s strong portfolio, a reversal of the negative news trend surrounding the company, and a fresh new “iPhone 5S”  will help the stock rebound in 2013, and he maintains a Buy rating on Apple shares with a sky-high price target of $1,111. “Apple is our top overall pick for 2013,” White wrote in a note to investors on Wednesday that discussed Topeka’s stock picks moving into the new year. “With the 25% correction in Apple’s stock from the high in September, the stock is now trading at just 7.7x our CY13 EPS estimate (less cash) and the company’s portfolio has never been stronger, in our view.”

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Shelly Palmer is the host of Fox Television’s "Shelly Palmer Digital Living" television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.

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