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Apple: Ahead Of iPhone 5 Launch, S&P Repeats Buy Rating

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Ahead of this morning's expected launch of the iPhone 5, S&P Capital IQ analyst Scott Kessler reiterated his Buy rating on Apple shares.

"We expect AAPL to announce the latest version of the iPhone, perhaps called the iPhone 5," he writes. (What else would they call it?) "We see availability within a week or two. Specifically, we expect the new iPhone to have a larger screen and be thinner than prior iterations. Importantly, we expect the new iPhone to offer enhanced battery performance and advanced LTE/4G capabilities allowing for greater access speeds. We also would not be surprised if the new iPhone was a 'world phone' usable in multiple countries around the world."

Not a lot new there, to be sure, but a brief glimpse at what's ahead.

Apple shares are quiescent ahead of the launch, with the stock up 33 cents, to $660.92.

My colleague Connie Guglielmo will be blogging this morning's launch live from the Yerba Buena Center in San Francisco.