Apple Shares Dipped Earlier On False Rumors of iPhone Delay

Wednesday, 16 May 2007 | 1:41 PM ET

Shares of Apple dipped as much as 4% earlier -- before recovering later in the session -- on an erroneous report that the highly-anticipated launch of its iPhone would be delayed until October.

The stock recovered after Apple said the speculation was false.

“Apple is on track, as the company has repeatedly said, to ship the iPhone in late June – as scheduled,” an Apple spokesman told CNBC's Silicon Valley bureau chief, Jim Goldman.

The spokesman denied the report, calling it “erroneous,” and underscored that the report did not come from Apple.

The spokesman also pointed out that Apple had already announced that Leopard, the company’s next-generation operating system, would be delayed until October.

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