Apple stock hits new high amid reports of launch

Apple stock hits new high amid reports of launch

NEW YORK — Apple Inc. shares hit an all-time high Thursday after a published report suggested the intensely scrutinized yet secretive company may be getting ready for a major product announcement.

Citing unnamed people familiar with the preparations, the Financial Times reported on its Web site Wednesday that Apple has rented space for several days in late January at an arts center in San Francisco.

The company is famed for its highly staged launches. CEO Steve Jobs has used past events to introduce groundbreaking — and lucrative — gadgets such as the iPod and the iPhone.

Although Apple has not acknowledged working on a tablet computer — the company is notorious for keeping upcoming product plans closely guarded — analysts expect the company’s next blockbuster to be something of a cross between a laptop and an iPod Touch, which is essentially an iPhone without the calling features.

Apple shares closed at $209.04 Thursday, up $6.94, or 3.4 percent, to $209.04. Apple shares have recovered from a 52-week low of $78.20 in January, helped by consistently growing profits. Associated Press