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iPhone or iHype?

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Apple fell 2% Tuesday after the New York Post gave the iPhone a bad review. Will consumers shell out $600 for the iPhone this Friday? Fast Money turned to CNBC’s Jane Wells and the web cam to find out.

Jane Wells says Apple (AAPL) wants to sell 10 million iPhones over the next year and a half. She adds that’s only 1% of the market so it’s probably doable.

Jane also says she’s hearing the two big issues with the iPhone are its battery life and the touch pad. She spoke with 3 “real people” all of whom said they want an iPhone but will probably wait a couple months to see how they work.



Pete Najarian says he’s losing a little confidence in Apple and recommends shorting Apple and getting long Nokia (NOK).

Robert Davidman joins the conversation via the webcam. He runs a New York marketing company called Earthquake Media and is a self diagnosed BlackBerry (RIMM) addict.

Davidman says he’s concerned the iPhone won’t sync up with the Microsoft (MSFT) exchange server in the office.

Eric Bolling says BlackBerry will likely continue to dominate the business customer, but he feels the consumer side of the business is a different story.

Symbol
Price
 
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VOW3
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MSFT
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NOKIA
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BB
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Trader disclosure: On June 26 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Macke Owns (SWY); Najarian Owns (.VIX); Bolling Owns (BP), (T); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures; CNBC Is A Service Of NBC Universal And Dow Jones