Tuesday Apple Rumors: iPhone 5 on Oct. 14
Report says Apple targeting another Friday iPhone release; also, Facebook iPad App might be announced at Oct. 4 iPhone 5 reveal.

Apple RumorsHere are your Apple rumors and news items for Tuesday:

iPhone 5 Out Oct. 14?: Apple (NASDAQ:AAPL) will hold a press event to announce its new iPhone on Oct. 4, but a Tuesday report from Macotakara (via Apple Insider) said the real date to look at is Friday, Oct. 14 — the rumored day the iPhone 5 will release. This coincides with previous reports that Apple has blacked out Oct. 14-15 for Apple Store employees, preventing them from requesting vacation time on those days. The iPhone 5 will release in the U.K., Germany, Japan and France within “a matter of weeks” after that date. Apple has a history of releasing new iPhone models on Friday — every iPhone model with the exception of 2010′s iPhone 4 has been released on a Friday.

On Target for $500 Per Share: They balked when some analysts pegged Apple with a $400 target price back in 2009, but Apple showed them, hitting an all-time high of $422 in September. Analyst Shaw Wu of Sterne Agee issued a note Tuesday reiterating Sterne’s “buy” rating on Apple and placing a price target of $500 on AAPL. The note was issued in response to a Monday note from JPMorgan Chase & Co. suggesting that demand for Apple’s iPad is declining. Wu also said cuts in Apple’s iPad orders are likely accounting for plans to release a new model of the tablet during the first quarter of 2012.

Facebook iPad App Coming Next Week?: Facebook has been expected to deliver an official app for Apple’s iPad for months now, but the social network’s f8 conference has come and gone with no sign of the new tablet-based tool. However, a Tuesday report at Mashable (via Venture Beat) said Facebook might have held off on announcing its new app for Apple’s big iPhone 5 reveal on Oct. 4. The rumor goes that Apple and Facebook will debut both a new native iPad app as well as a new version of the Facebook iPhone app.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.

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