Rumor: Apple (AAPL) Launching 8GB iPhone 5C This Week

NEW YORK (TheStreet) -- Apple  (AAPL) could make another move in the smartphone market, as MacRumors reports through two German blogs and its own sources that the tech giant could release an 8GB iPhone 5C as early as Tuesday.

The phone would be the new entry-level model and would be available in all 5C colors. Apple currently offers the iPhone 5C in 16GB and 32GB models.

One source in the MacRumors report is Caschys Blog, a German site that became aware of an alleged note sent by German carrier O2 to retailers. The note, which has not been verified, claims the new 8GB phone would cost 509 euros, or $707, compared to the 569 euros, or $791, for the 16GB model.

Another source, the German blog iFun, reported that the 8GB version would launch on Tuesday. MacRumors also cited multiple sources who said Apple has already shipped the new phone to carrier stores in the U.K.

Finally, Engadget posted a photo of a product package that lists a blue, 8GB iPhone 5C as the model.

Apple was rising 0.71% to $528.39 at 1:15 p.m. on Monday.

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TheStreet Ratings team rates APPLE INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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