Here are your Apple rumors and news items for Wednesday:
iPhone 5 Wait: Apple (NASDAQ:AAPL) has been mum on rumors of a new iPhone release, but Mac Rumors has the closest thing to a confirmation. One of that website’s readers contacted AT&T (NYSE:T) to ask when they would be eligible to update their iPhone. (As with most telecoms, AT&T offers its users the opportunity to purchase a new phone at a lower cost after a certain period of time on an existing contract.) An AT&T customer service agent told the customer that they would not be able to upgrade their phone for another five months after they expected date because, “Apple has informed us that they do not plan to release the iPhone in the June-to-July timeframe, though there will be a new version in the future. Unfortunately, we have not been given a release time for the new phone.” Given the five-month delay on the customer’s account, it seems that the fall is indeed the time period when the new iPhone will be released.
Big Piece of the Pie: Google (NASDAQ:GOOG) may eventually have more apps to sell than Apple, but it won’t profit nearly as much. A report from IHS iSuppli expects Apple’s app store to generate $2.91 billion in revenue, approximately 76% of all revenue made by mobile apps across 2011. Google, on the other hand, is expected to pull in $425 million from its Android store, while Research In Motion (NASDAQ:RIMM) and Nokia (NYSE:NOK) will make between $200 and $300 million each.
iPhone on Windows Phone: Microsoft (NASDAQ:MSFT) is looking to beef up its stable of apps as quick as possible. Making it so the Windows Phone can run iPhone apps is one of the ways the company is improving volume. Apple Insider reported on Tuesday that Microsoft executive Jean-Christophe Cimetiere begin showing off a new development tool that would make it easy for any developer creating apps for the iPod Touch and iPhone to easily port their work to Windows phone.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.
