Apple, Inc. is set to release its much-anticipated iPhone later this month on June 29, 2007. Apple debuted a series of commercials over the weekend, which confirmed the June 29th release date.
Apple’s stock is climbing considerably, and with the release of the iPhone it will continue to grow. Apple (AAPL) had a record intraday high of $127.61 a share today and closed at $124.07 up $0.24 over Wednesday’s close, an all time high for the stock.
Gene Munster, of Piper Jaffray estimates that 15% of iPod users will replace their device with an iPhone by 2009. Based on that forecast, 45 million iPhones will be sold in 2009. Bodog.com has posted betting odds of 20 to1 that the stock will increase by more than 10% on June 29th, 2007.
In addition to acting as a mobile phone, the iPhone also includes an iPod and Internet device. Users will be able to talk, text, write emails, surf the web, watch movies and listen to music all from a device slightly bigger than a deck of cards. Everything is controlled with the touch of a finger using new multi-touch display software.
AT&T, formerly Cingular Wireless, will be the exclusive wireless carrier of the iPhone. The iPhone will come in two versions: a 4-gigabyte storage capacity for $499 or an 8-gigabyte storage capacity for $599. Both Apple and AT&T will sell the iPhone at their stores, based on 2-year service contracts.
Apple Chief Executive Steve Jobs initially showed off the iPhone at the MacWorld show in January 2007. He said the device would be on the market in June. After delaying the release of Apple TV, the company needed to meet the release for the iPhone.
Bodog.com has posted betting odds on what will happen to the value of Apple Inc.'s (AAPL) stock on June 29th, 2007, the phone's scheduled release date?
Increase by more than 10.00%: 20/1
Increase by 8.01% – 10.00%: 15/1
Increase by 6.01% – 8.00%: 5/1
Increase by 4.01% – 6.00%: 4/1
Increase by 2.01% – 4.00%: 3/1
Increase by 0.01% – 2.00%: 2/1
No Change (0% change): 15/1
Decrease by 0.01% – 5.00%: 3/2
Decrease by 5.01% – 10.00%: 7/1
Decrease by more than 10.00%: 15/1
