Apple Prepares To Sell New iPhone This Summer: WSJ

For those of you who can’t get enough iPhone news: The new model will be “similar in size and shape to [the] current one” and will go into production this quarter The Wall Street Journal reports citing “people familiar with the device’s production.” The paper adds that later this year Apple will offer a low-priced iPhone. Like the existing models, it will have a four-inch screen but with a different casing and colors. What else can the Journal tell us about the new iPhones and how they’ll differ from the iPhone 5 which was introduced in September? The paper says that information “remains unclear” — journalism jargon for “we don’t know.” Apple could use some upbeat news. Rival phone makers including Samsung and others using Google’s Android platform have been gaining ground on the iPhone. Apple’s shares closed today at $429.90 — down 19.4% so far in 2013, and -38.9% since mid-September. Today Goldman Sachs analyst Bill Shope cut Apple from the company’s “conviction list” and slashed the price target 12.9% to $575 although he still rates the stock a “buy.”

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