Apple plans to debut a smaller, cheaper iPad by the end of this year, people familiar with the plans said in July.

Apple's shipments of iPads surged 44 percent to 17 million in the second quarter, giving the company its biggest share of the market in more than a year as devices from competitors lost ground, according to a report this month from IHS.

The Cupertino, California-based company may have also started production of a television product, Misek said, citing recent data from Sharp Corp., Hon Hai and “other specialty chemical and TV component suppliers.”

Apple is in talks with at least one of the largest U.S.cable companies about teaming up on a product to carry live television and other content, a person with knowledge of the plans said yesterday.

Eoin Treacy's view As the most innovative consumer electronics company in the world, when Apple announces the production of a new product, investors sit up and pay attention.

Apple posted one of the best examples of a consistent uptrend between early 2009 and January when it proceeded to accelerate higher. The share hit a medium-term peak in April and quickly unwound its overbought condition relative to the 200-day MA. It has held a progression of higher reaction lows since MA and posted a new high today.

While not as overbought, relative to the 200-day MA, as in April prices are becoming increasingly overextended. A period of consolidation would increase the potential for the share to sustain a move to new high ground. A sustained move below the 200-day MA would be required to question the medium-term uptrend.