Apple Inc. announced a new version of its popular iPhone on Monday, upping the stakes in the fast-growing market for smart phone devices.
The new iPhone was the highlight of Apple's annual gathering of developers in San Francisco, in which company also cut the price of its current iPhone 3G to $99 and debuted a revamped line of MacBook Pro notebook PCs. Also, Apple showcased major software updates that include new operating systems for both its computer line as well as existing iPhones.
Shares of Apple /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 136.79, -0.18, -0.13%) ended the day down by 82 cents to close at $143.85. The stock has surged by more than 60% over the last three months.