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Apple seeking to launch new iPhones in June/July, says RBC Capital

Based on supply chain checks, RBC Capital believes that Apple is working to introduce the iPhone 5S and a more affordable, lower end iPhone in the June/July period. The low end iPhone will feature the same form factor as the iPhone 5 but will have plastic casing and no retina display, the firm wrote. This device should be accretive to Apple's corporate margins and could add $5+ to its EPS in 2014, added the firm ,which maintains a $600 price target and Outperform rating on the shares.