3G iPhone within six months says subprime-ravaged Citibank

Given the bank’s top notch performance during that whole subprime thing, would you trust Citibank’s opinion on anything these days? One of its fancy pants analysts has officially predicted that Apple will release a 3G iPhone sometime in the next six months, citing low inventory of the current model and high demand for a 3G phone in Europe. Said the analyst, “We believe that lack of 3G has been a significant headwind for iPhone in Europe where 3G is already pervasive.”

Apparently Apple has been telling the bank that it plans to release the 3G iPhone in Europe and Asia before the end of the year. The implication there is that there’s no 3G iPhone in the works for the U.S. this year. Might it have something to do with AT&T’s purchase of all that spectrum?

I’m sorry, but to me, the whole Citibank institution has been to look utterly incompetent these past few months. I wouldn’t put too much credence into what it says.

http://www.crunchgear.com/2008/02/12...aged-citibank/