This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

iPhone Rumor Gnaws at Apple

Chatter about a possible delay in the anticipated launch of Apple's (AAPL - Get Report) iPhone spooked shares of the computer company Thursday.

Apple stock recently shed $1.79, or 2%, to $88.04, but it was off as much as 2.7% earlier in the day.

"Based on our checks, we believe the timing of Apple's iPhone commercial launch is around late first quarter 2007 to early second quarter 2007," CIBC World Markets analyst Ittai Kidron wrote in a Thursday note. CIBC does and seeks to do business with the companies it covers in its research reports.

"We have no exact details on the form factor or functionality of the handset, yet we believe Apple could be designing as many as three different models (real or decoy)," Kidron added.

Apple has not confirmed the launch of iPhone, but some analysts have expected that its debut could come as early as Macworld in January.

"This is a product that Apple is not even acknowledging exists at this point," says Richard Stice, an equity analyst with Standard & Poor's who follows the company.

Still, if the expectation was that the device was to launch at Apple's annual gathering, "that would explain (the stock's) move."

Stice does not own shares of the company, and his firm does not do banking.

"These rumors are a dime a dozen at this point, and I think Apple knows what they're doing," says Gene Munster, an analyst with Piper Jaffray. "We're 90% confident that they will show it by Macworld. It may not be in full production, but they'll show it."

He says that the company has a history of showing a product, shipping it soon after, but not having immediate availability. Munster's firm makes a market in the stock, and does and seeks to do business with the companies it covers.

"Speculation about new Apple products is always a great form of entertainment, especially around December," says Jupiter Research's Michael Gartenberg. "We're seeing people react to rumor.

"At this point, it's simply idle speculation."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs