Vague Rumor of 3G iPhone Delay Was Enough To Make Apple Slide

| About: Apple Inc. (AAPL)

Were it not for the recent crumbling of the stock, and the questions about the drop raised by readers, I would hesitate even to pass this along. But here goes.

Apple (NASDAQ:AAPL) shares appear to be losing ground this afternoon on rumors involving possible delays of the 3G iPhone. Now, I would point out that Apple has not even officially confirmed that there will be a 3G iPhone; but the device has been widely expected to debut on June 9, when CEO Steve Jobs give the keynote at the upcoming Worldwide Developers Conference at Moscone West in San Francisco.

One trading source tells me there are “rumors of a rumor” of a 3G delay. You have to love stocks moving on rumors of rumors. Meanwhile, is reporting that the weakness is being “attributed to vague concerns regarding 3G launch.”

Meanwhile, Reuters is reporting that AT&T CFO Rick Lindner said today that his company has yet to determine pricing for the new version of the phone.

“There’s not been a product announcement. There hasn’t been any pricing decisions made. That’s yet to come,” Lindner told the Reuters Global Technology, Media and Telecoms Summit in New York. He said AT&T has more than 2.5 million current iPhone customers, with the average subscribers spending nearly $100 a month on service.

Apple today at close was down to $177.05 from an open of $179.18.