updated 03:30 pm EST, Mon March 3, 2008
3G iPhone delayed, testing
Industry analysts expect Apple's heavily rumored 3G iPhone to be delayed, according to a note from RBC Capital Markets analyst Mike Abramsky. The Wall Street Journal reports that the delay will occur due to testing and fine-tuning on partner networks. Both RBC and Banc of America Securities lowered price targets for the Cupertino-based computer manufacturer, which caused shares to lose 3.4-percent, or $4.26, settling at $120.76.
Banc of America analyst Scott Craig lowered estimates since he believes that Apple will see a weaker sell-through of iPods and iPhones for the first fiscal quarter, due to consumer and production weakness.
Update: Despite the report by The Wall Street Journal, the delay is unconfirmed, and could be based on extraneous information known to the publication. Apple has not verified this information with any public channels, and as such, details are scarce.