Best Buy (NYSE:BBY) has cut iPhone prices amid Apple’s new model launch expectations.

Best Buy Cutting iPhone Prices Ahead Of Release

The electronics retailer Best Buy (NYSE:BBY) has joined other retailers in reducing the price of iPhone models amid rumors that Apple will launch the latest iPhone 5 soon.

It has been rumored that Apple will launch iPhone 5 in September.

Best Buy (NYSE:BBY) cut the price of 8GB iPhone 4S by $50 for both AT&T and Verizon carriers. Now the retailer sells the device for just $49.99 with a contract.

Best Buy (NYSE:BBY) stocks were at 19.48 at the end of the last day’s trading. There’s been a -0.4% change in the stock price over the past 3 months.

Best Buy (NYSE:BBY) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 2 out of 5 in the industry