As Apple prepares for the July 11th release of the iPhone 3G, investors have reacted positively to the news sending Apple shares up $5.76 yesterday or 3.4 percent, to $175.88.

The Apple iPhone 3G will launch on Friday, offering download speeds that are twice as fast of the first generation iPhone and at half the price ($199 with contract). Apple is also set to take the wraps off the much anticipated iPhone App Store, enabling iPhone owners to add third party applications to their device. While certainly exciting for iPhone owners, this also represents a new revenue stream for Apple.

Shortages?

BMO Capital Markets analyst Keith Bachman speculated that Apple could run out of iPhones soon after the launch, citing "some production yield issues".

via Business Week