As shares of Apple Inc. (Nasdaq: AAPL) climb higher in anticipation of the iPhone device's June 29 launch, analysts are skeptical of new battery life claims and the hype surrounding the new unit.

Apple shares jumped nearly 4 percent on Monday, then dipped 1.2 percent Tuesday to reach $123.52 in afternoon trading, after news that the iPhone would have a better-than-anticipated battery life.

The device would now give up to eight hours of talk time, six hours of Internet use, or seven hours of video playback, according to Apple. Playback of audio files would be possible for up to 24 hours.

Previously, Apple had said the iPhone would be capable of five hours of talk time, Internet use or video playback, and 16 hours of music-playing time.

It's easy to look and say that the iPhone is overhyped, said analyst Andy Hargreaves, who covers Apple for Pacific Crest Securities . The attention that has been given to the iPhone is probably more than the significance of the product at this point.

The consumer electronics company has seen its shares jump more than 47 percent since the product was announced in January of this year.

As devices become more complex and include more features, there has always been a concern over the battery life. This is especially true with the iPhone.

Typical batteries lose their charge capacity with age. A consumer can replace the battery, however just as with Apple's iPod music players, the battery in the iPhone cannot be replaced.

While we believe this hasn't really negatively impacted iPod sales, our concern is that it will become a bigger issue with iPhone, said American Technology Research's Shaw Wu.

With regard to Apple's newly announced battery capacities, Wu said we hope those times are accurate, but some of our sources have indicated iPhone's active use battery life may be closer to around 4-5 hours for heavy use, similar to other smart phones

The Apple iPhone combines a cell phone with an iPod and Internet capability. The device will come in two models, a $499 version with 4 gigabytes of storage and a $599 model that has 8 gigabytes of storage.