According to the head of AT&T (T), Apple (AAPL) will launch its 3G iPhone next year.
If the current handset has one major Achilles Heel it is that, working on AT&T Wireless’s 2.5G network it is much slower than most other smartphones for critical uses like working on the internet and downloading data.
There is no telling how many people have held off buying an iPhone because of the backwards network set-up, but it is a cutting edge device lacking a cutting edge network. Adoption is bound to pick up sharply once the handset combines function with speed.
All of this has to be very good news for the earnings pictures for AT&T and Apple going into 2008 and 2009. More consumers should move to AT&T to get an iPhone with a faster wireless connection. That increases the amount of money they make from calling and data plans. Apple gets revenue for its handset and a piece of the revenue from the AT&T calling plans.
A 3G iPhone is a big deal. It should send another wave of buyers to AT&T stores and will almost certainly make life more challenging for RIM (RIMM) and Palm (PALM) which make a great deal of their money from 3G smartphone devices.
The handset deck is about to get shuffled again.
Douglas A. McIntyre
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.