Apple Poised to Soar in 2013: Experts

Apple will speed up its product upgrade cycle in 2013, giving the company's beaten down stock a big boost, market experts told CNBC on Monday.

"We're on the cusp of an enormous product upgrade cycle and we think Apple's earnings are going to be dynamite in the fourth quarter," said Channing Smith, Portfolio Manager at Capital Advisers Growth Fund, on CNBC's "Squawk on the Street".

Smith said he expects Apple's stock to grow 20 percent over the next few years and that he expects Apple to return to its all time highs, which it reached in September when its stock hit $702.10.

Since then, fickle investors have shaved more than a quarter from the tech giant's market capitalization, partly in fear that Apple might be losing its ability to innovate and stave off its competition.

Read Full Article from CNBC.

- Posted: 2012-12-31 14:57:46

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