Report: Apple working on Verizon iPhone

NEW YORK -- The Wall Street Journal is reporting that Apple may be working on an iPhone designed for Verizon Wireless.

Currently AT&T Inc. is the only U.S. phone company that carries the iPhone.

Citing unnamed sources, The Journal said Monday that Apple Inc. is planning to debut a new iPhone this summer, and on top of that appears to be working on a model for Verizon. The report says it is unclear when the Verizon model would be available.

Apple spokeswoman Natalie Kerris says the company does not comment on rumors or speculation. Verizon Wireless also has no 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.