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Since debuting the product in 2007, Apple has released new versions of its signature smartphone to U.S. stores in June, with one exception (in 2008). Now, however, the iPhone 5 is set to go on sale in September, or even October. Investors should take great interest in what an autumn product launch might portend about Apple's underlying strategy.

Sprint and Nextel stocks climbed Thursday on word that the two companies are on the verge of resolving their five-month pricing dispute.