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Apple readies biggest iPhone yet: report

Apple CEO's salary bump
Apple CEO's salary bump 01:04

The biggest iPhone so far is reportedly in the works. The outsized device is among three new smartphones Apple (AAPL) will unveil this fall, according to Bloomberg News, citnig people with knowledge of the company's plans. 

The screen for the enlarged iPhone could be as big as 6.5 inches, almost an inch larger than the iPhone 8 Plus, making it one of the biggest smartphones in the consumer market. 

The coming lineup will also include an upgraded handset the same size as the current iPhone X as well as a more affordable model with some of the flagship phone's key features, Bloomberg said.

Apple's bigger device is aimed at consumers looking for the multitasking abilities of so-called phablets, while also appealing to people who'd like a less expensive version of the iPhone X, the people cited by Bloomberg said. 

After lots of hype, sales of the iPhone X have run below expectations since its 2017 release, with Apple selling 77.3 million iPhones in the last quarter of last year, under analysts' estimates of 80.2 million units. The iPhone X's $1,000 price tag has deterred some from buying the phone, and now Apple is looking to have a model for all. 

Apple update 00:36

Apple shares gained 2.1 percent on Monday, putting it within reach of its record high, after Warren Buffett told CNBC that he's purchased more stock in the iPhone maker than anything else in the past year. In the fourth quarter, Apple was Berkshire Hathaway's (BRK.A) second-largest holding. 

Shortly before the close of trading, Apple's stock was at $179.17, just shy of its $179.26 record closing price on Jan. 18. 

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