Analyst says Apple working on two versions of the new iPhone to be released soon

Kaufman Brothers analyst Shaw Wu has once again talked with his contacts along Apple's iPhone supply chain and has come away with a interesting story. Wu told his clients that the Cupertino based firm is working on two new versions of the Apple iPhone, one with a bigger screen than the 3.5 inch iPhone 4, and an entry-level model with a smaller screen. Both are currently being built and are expected to be released soon, according to the analyst's information.

Wu suggests that Apple needs to offer multiple versions of its touchscreen phone for multiple carriers to fight back against Android. Google's open source OS has been red hot and has been adding market share with a variety of models and carriers.

The analyst has reiterated his "buy" rating on Apple's stock with a target of $374, about $90 above the current trading price. Wu based his rating on information gleaned from his supply chain contacts and from speculation that a CDMA version of the Apple iPhone is being developed for Verizon.

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source: electronista