Tags: US | TEC | Apple | iPhone

Verizon Report Sends Apple Shares to All-Time High

Tuesday, 30 Mar 2010 11:29 AM

Apple Inc. shares have hit another all-time high now that it appears the iPhone could find a new sales outlet through Verizon Wireless.

The Wall Street Journal reported that Apple plans to release an iPhone this year that would work on the network technology used by Verizon Wireless. For now the phone is available only to subscribers of AT&T Inc.

Apple and Verizon declined to comment.

Apple shares rose as high as $237.48 on Tuesday before retreating to $235.30, up 1.3 percent on the day. Apple has jumped about 13 percent this month.

Shares of Verizon Communications Inc., which owns a majority of Verizon Wireless, rose 2.6 percent Tuesday morning, although the stock of its partner, Vodafone Group PLC, was nearly unchanged. AT&T dropped 1.2 percent.

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