SEATTLE (AP) — Apple shares reached an all-time high Tuesday after a newspaper report said the iPhone could find a new U.S. sales outlet through Verizon Wireless.
The Wall Street Journal reported late Monday that Apple plans to release an iPhone this year that would work on CDMA networks. Apple and Verizon Wireless were not commenting.
Apple shares rose as high as $237.48 on Tuesday, an all-time peak, before pulling back to $235.85, a 1.5 percent gain for the day. Apple’s stock has jumped about 13 percent this month in anticipation of the iPad launch, which begins Saturday.
Shares of Verizon Communications, which owns a majority of Verizon Wireless, rose 2.6 percent Tuesday, while the stock of its partner, Vodafone Group PLC, edged up 0.8 percent.
AT&T dropped 2.1 percent. Also hurt were shares of Palm and Research In Motion (RIM). Palm shares lost 3.6 percent and RIM fell 1 percent.