Apple Shares Rise in Anticipation of New Product Launch

It’s no secret that Apple wants to get into the business of making its own TV set, and there have been plenty of rumors and reports about how and when it’s going to happen.

Now, an analyst says he’s learned that the set will go on sale late this year, for $1,500 to $2,500.

In a research note Wednesday, Brian White of Topeka Capital Markets says the “iTV” will be 60 inches on the diagonal, but could also come in 50- and 55-inch versions. Apple will also release a small “iRing” that fits on the viewer’s finger, allowing the user to control the screen by pointing, White says.

Apple shares rose $2.20 to close at $431.99 Wednesday, as the tech-dominated Nasdaq index fell 1.1 percent. Apple’s stock is still close to the 52-week low of $419, which it hit a month ago.