APPL Drops Following WWDC Keynote

Appleis stock price didnit rise along with the spirits of the developers at the companyis World Wide Developer Conference keynote presentation on Monday. The Cupertino companyis stock opening this morning at US$184.92, but had dropped down close to $177 after CEO Steve Jobs finished his keynote presentation.

Mr. Jobs introduced a revamped version of the iPhone, dubbed iPhone 3G, with most of the features analysts and users had been hoping for. The new model will include built-in 3G wireless data networking in addition to the EDGE support found on the first generation model, a built-in GPS with real-time mapping and tracking, a thinner body, and more. It will also make less of a dent in customeris pocketbook with a price point that comes in $200 below the original at $199 for the 8GB model and $299 for the 16GB model.

Investors may be concerned about the window between when the iPhone 3G was announced and when it will be available. The new model will ship on July 11, which means that there are essentially no iPhones available until then because the channels have already been nearly depleted of the first generation model.

Appleis stock is currently trading at $179.06, down 7.99 (4.3%) compared to Fridayis closing.

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