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SAN JOSE, Calif. (AP) - Shares of Apple Inc. hit a new all-time trading high Tuesday after an analyst speculated that the company would come out with a less expensive, smaller iPhone later this year.
Yet investors also were being cautioned Tuesday by a separate — more sobering — report from a different analyst at the same securities firm, saying he could not confirm his colleague's assumptions. He told his clients in a report that a low-end phone from Apple was unlikely in the near term.
Apple spokeswoman Natalie Kerris declined to comment on the dueling Wall Street reports. "We don't comment on rumors or speculation," she said.
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