3G iPhone launch seen in 2nd quarter

NEW YORK (Reuters) -- Apple Inc is expected to launch a high-speed wireless version of iPhone in the second quarter and produce as many as 8 million of the devices in the third quarter, according to Bank of America.

Apple shares closed up $2.76, or 2 percent, at $143.01 after the prediction in a research report about the third-generation phone from Bank of America analyst Scott Craig. Shares in AT&T Inc, the exclusive U.S. carrier for iPhone, closed up flat at $37.66 after rising to $38.39 earlier in the day.

"Our latest channel checks point to a significant production build of a 3G iPhone beginning in the month of June after an initial small build in May," he said. full story