Apple to Debut New iPod September 1st? (AAPL)

Apple AAPL is set to release a new version of its famed iPod September 1st, according to people familiar with the situation. A Reuters report notes that "The company has in recent years used splashy September events to showcase new iPod models for the year-end spending spree. It typically also describes tweaks and new features for its iTunes online media store." There has also been speculation that Apple could release a revised version of Apple TV. The product has been largely rejected by the mainstream consumer, but Apple regards the product as a "hobby." That could change soon, however. "From our checks with supply chain and industry sources, we believe potential changes could turn Apple TV into a bigger hobby and a multimillion unit seller," Shaw Wu of Kaufman Bros wrote in a client note. Shares of Apple gained more than 1.2% Wednesday, to close at $242.89.