Apple iPhone 5 Gets Oct. 4 Launch Date

NEW YORK, (TheStreet) — Apple's (Stock Quote: AAPL) iPhone 5 unveiling is set for Oct. 4 and new chief Tim Cook will run the ceremonies, according to The Wall Street Journal's blog AllThingsD.

The hotly anticipated event will be Cook's first product introduction since he replaced Steve Jobs last month.

Apple shares have been hitting new all-time highs in anticipation of a strong new product cycle this fall led by the refreshed iPhone 5 and the possibility of a stripped down iPhone 4 to sell in expanding markets like China.

The new iPhone -- which is expected to be redesigned and run on a dual-core processor with a better camera -- is likely to go on sale within two weeks of the announcement.

For Apple fans accustomed to the excitement of Steve Jobs' "one more thing" presentations, there will be a slight adjustment to the lower-key delivery from Cook. In past product showcases when Jobs was unable to attend due to health reasons, marketing chief Phil Schiller stepped in to handle the demos.

Apple shares closed at $413.45 Tuesday after hitting a high of $422.86 earlier in the session. On Wednesday, Apple was up nearly 1% in premarket trading to $415.67.

—For all of the latest iPhone-related news, visit MainStreet’s “iPhone” topic page!

More from Credit Cards

31 Ways to Save Money in College

31 Ways to Save Money in College

How to Use Back-to-School Shopping As a Way to Teach Your Kids About Budgeting

How to Use Back-to-School Shopping As a Way to Teach Your Kids About Budgeting

American Express Touches All-Time High During 5 Straight Sessions of Gains

American Express Touches All-Time High During 5 Straight Sessions of Gains

What Is APR and How Does It Differ From Interest Rates?

What Is APR and How Does It Differ From Interest Rates?

LendingTree CEO Focused on App and Digitized Mortgage Experience

LendingTree CEO Focused on App and Digitized Mortgage Experience