Apple On The Rise After Company Announces Media Event On September 1st (AAPL)

Shares of Apple Computer AAPL have been trading near the low end of its range going back to April in recent weeks. The stock is getting a boost today, however, gaining 0.90% to $245.07. The company announced that it will be holding a media event on September 1st, in San Francisco. The speculation is that Apple will unveil a new iPod Touch at the event. There are also rumors that the tech giant will introduce a beefed up television console called which will offer episode rentals through a service called iTV. It will be interesting to watch how the stock trades heading into this event and then afterwards. The announcement has been good for a +2% pop in the shares including today and yesterday. If you are looking to unload your AAPL stock, the ramp up in the share price going into the event could be a good opportunity. If, on the other hand, you want to get long AAPL, a pullback could materialize in the days after the announcement as traders "sell the news."