Apple shares jump after reports on new iPhone

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Apple shares shot higher Monday after unconfirmed reports that the tech giant was preparing to launch a new version of its hot-selling iPhone in September.

Apple traded up 1.7 per cent to end the day at $595.03.

The technology blog iMore, which follows Apple events, said it learned that a launch event was set for September 12 for the iPhone 5, and that the phones would start shipping by September 21.

The report cited "sources who have proven accurate in the past."

Apple did not immediately respond to a request for comment.

Apple normally keeps its product launches close to the vest, but a number of reports have said the iPhone and iPad will be released in time for holiday sales. The iMore report was the first however with a specific launch date.

The Dow Jones website AllThingsD said it confirmed that Apple scheduled a "special event" September 12 but not whether it was for the iPhone. The technology site said however that it was clear that Apple is "ramping up for a big fall product cycle" by stockpiling inventory components.