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

May 22, 2008 4:21 PM ETApple Inc. (AAPL)7 Comments
Eric Savitz profile picture
Eric Savitz

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.

This article was written by

Eric Savitz profile picture
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Eric joined Barron's as a feature writer in New York in 1988, after four years at the Dow Jones news wires. In 1995, he moved to California as the magazine's first reporter in Silicon Valley, creating the Plugged In column. Eric left Barron's in 1998 to become executive editor of The Industry Standard. He rejoined Barron's in Palo Alto in late 2001. Eric also writes the monthly Tech File column for Smart Money magazine. Visit Tech Trader Daily ( and Barron's Online (
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.