Let's Talk: iPhone 5 Date Now Set

UPDATE: Last week we wrote on Apple

potentially holding an event on October 4 to showcase its new iPhone, the iPhone 5. Today the company

with the slogan, "Let's talk iPhone." Shares of Apple are participating in today's rally, albeit under performing, up around 0.5%.

What we all knew was happening may now have an official date. AllThingsD

this morning that Apple

will be holding its next big event, where it is expected to unveil the iPhone 5. There were rumors

that the iPhone 5 would launch in late October, and could potentially disrupt the quarters of some of Apple's suppliers, who operate on a different fiscal year then the Cupertino-based tech titan. With an expected October 4 unveiling, this does not appear to be an issue. According to the report, Apple will unveil the new phone with CEO Tim Cook on stage, surrounded by other key executives such as Phil Schiller, iOS head Scott Forstall and Eddy Cue, but Cook will be the main presenter. He

and this seems to be the right call. Otherwise, Cook could be seen as being undermined by others on the executive team. When Jobs resigned, he specifically put his weight and support behind Cook. We have seen an incredible amount of anticipation for the iPhone 5, but what is incredible is the amount of demand for the iPhone 4. Goldman Sachs noted that the demand for the iPhone 4 has not wavered really at all, unlike in previous refreshes. Everyone knows a new phone is coming, yet the demand for the iPhone 4 is still there. There are reports of an

similar to what Apple did with the iPhone 3, so that is something to keep an eye and an ear out for on October 4. It is absolutely incredible the demand Apple is seeing for the iPhone 5, as well as the iPhone 4. Demand is usually exceptionally strong anytime Apple is about to unveil a new product, but the demand for the previous product usually starts to decline. Not so this time. It appears that not only are consumers loving Apple products, that enterprise is moving faster than anyone thought towards

The price action in Apple recently has been exceptionally strong, as it powered past $400 easily. Generally when Apple is set to release a new product, its stock price runs up in anticipation of the launch, then sells off once the new product is announced. The recent price action in Apple is indicative of a launch date relatively soon. October 4, the whole world will be watching. Maybe we will even get a "one more thing."

Traders who believe that Apple's iPhone demand will continue to strengthen might want to consider the following trades:

This is bearish for Research in Motion

, as Apple takes away enterprise market share.