Apple ( AAPL) shares were losing more than 3% as concerns about future product innovation at the company weighed on the stock. Apple has delivered the largest product refresh in its history in 2012, updating the iPhone, the iPad twice, announcing a slew of new Macs, and coming out with the iPad mini as it seeks to gobble up tablet market share. The stock was off $18.70 at $561.50 in afternoon action.
Shares of American Tower ( AMT) and other wireless tower stocks were surging following news that AT&T ( T) plans to invest $14 billion in its network build-out over the next three years. The Dow component plans to allocated $8 billion toward wireless initiatives and $6 billion toward its wireline infrastructure. American Tower shares were tacking on more than 2% to $75.58. Other tower stocks, such as SBA Communications ( SBAC) and Crown Castle International ( CCI) were also rising on the news. Interested in more on American Tower? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull