New iPhone Monday?


Come Monday the world may be craving Apple and we’re not talking Red Delicious. Just a few days from now at the company’s developer conference in San Francisco it’s widely believed that Steve Jobs will premiere the new third generation (3G) iPhone.

Reuters Paul Thomasch writes, “Early buzz is that the new iPhone will be faster and accompanied by support for corporate e-mail, which should help expand the gadget’s audience to the business world. Apple has declined to comment on what Jobs will announce, but speculation can be found just about anywhere on the web.”

“I think the most important thing will be price point,” says Lehman Brothers IT hardware analyst Ben Reitzes on Fast Money. “I wouldn’t be surprised to see something in the $200-$300 range.”

”And for AT&T it should be very beneficial,” he adds. “I think it could hog a lot of traffic and have higher average revenue per user per month. It could even start a whole new mobile community and become the goldmine they’ve been waiting for.”

How would you trade it?

Apple is a buy, says Reitzes. I'm bullish long-term.


Tell us what you think. Will a new Apple iPhone Monday drive the shares higher? Answer the Charles Schwab Question of the Day.

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Trader disclosure: On June 5, 2008, 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 (ATVI), (MSFT), (WMT), (INTC); Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (EXM), (HPQ), (AAPL), (BHI), (CHK), (HD), (TSO), (XTO), (XLF); Najarian Owns (LEH) Puts; Najariain Owns (NUE) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm And Finerman Own (C), (C) Leaps; Finerman's Firm Owns (MO), (PM), (JCG), (AAPL), (AEO), (MSFT), (NYX), (SUN), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Charles Schwab Is A Sponsor Of "Fast Money"

Lehman Brothers And/Or Affiliates Beneficially Owns 1% Or More Of (AAPL) As Of The End Of Last Month; Lehman Brothers Has Received Non-Investment Banking Compensation From (AAPL) Within The Last 12 Months; (AAPL) Is Or During Last 12 Months Has Been A Non-Investment Banking Client (Securities Related Services) Of Lehman Brothers; Lehman Brothers Inc. and/or an affiliate has received compensation for investment banking services from AT&T in the past 12 months; AT&T is or during the past 12 months has been an investment banking client of Lehman Brothers Inc. and/or an affiliate.