Here are your Apple rumors and AAPL news items for today:

Apple Will Make Highest Annual Profit of Any Public Company: Brian White, an analyst at Topeka Capital Markets, says that Apple (NASDAQ:AAPL) will make the largest annual income of any publicly traded company ever, CNET notes. White has previously forecast Apple shares to hit $1,111 by next year. White says the release of the next generation iPhone, plus a possible smaller iPad later this year, will send the company’s profits and share price soaring, CNET says.

Apple’s Taiwanese Supplier Takes Bigger Stake in Sharp: Hon Hai Precision Industry (Foxconn) is negotiating with Sharp to purchase a larger stake in the Japanese display maker, Reuters says. Hon Hai invested $844 million in Sharp in March as part of a partnership for LCD production. With increased production capacity from Sharp, Hon Hai could be preparing to handle display production for Apple’s much-anticipated TV set, Reuters notes.

App Developers Unconcerned by Possible Apple Device Aspect Ratio Changes: A Piper Jaffray (NYSE:PJC) analyst surveyed 100 app developers at last week’s Worldwide Developers Conference (WWDC) and found that few thought a change in aspect ratios for a smaller iPad or larger iPhone would be much trouble, Apple Insider says. Apple is expected to introduce a new iPhone with a 4-inch or larger screen, and a smaller iPad, later this year. The analyst concluded that adding new screen sizes to Apple’s mobile device lineup would have little impact on the debut of new applications, Apple Insider says.

For more about the company, check out our previous Apple Rumors stories.