Shares in Apple Inc. rose 2.68% in early afternoon trading Tuesday, regaining lost ground following the companyis announcement on Monday of newer, cheaper, faster iPhone 3G.
While the markets sent shares of Apple lower following the initial news of Appleis plans for the iPhone 3G, analysis Tuesday focused largely on the companyis reach to 70 countries around the world, and a pricing plan designed to move the iPhone in large quantities.
Apple announced pricing for the iPhone 3G starting at US$199, some $200 less expensive than the current generation of iPhones. Apple is also openly allowing carriers to subsidize the iPhone, meaning that some customers will be able to get their iPhones for little to no up-front cost.
As of this writing, AAPL was trading at 186.30, a gain of 4.69 (+2.58%), on volume of 29.5 million shares trading hands.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.