Investors bullish ahead of Apple iPhone launch
SAN FRANCISCO/CHICAGO (REUTERS) - Investors are hoping that Apple Inc will unleash some of its old magic when it takes the wraps off its latest iPhone on Tuesday, with many building bullish share and options positions.
In the past two weeks, Apple investors have bought almost twice the number of call options than puts on three major United States (US) option exchanges.
Apple on Tuesday is holding a media event at its headquarters in Cupertino, California, where it is expected to launch an updated iPhone model - widely referred to as the iPhone 5S - as well as a cheaper version of the device dubbed the iPhone 5C.
Investors are hoping that in addition to the phone unveiling, the company will also announce it has finally penetrated the world's largest wireless carrier China Mobile Ltd, which has over 740 million users.