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NEW YORK - An analyst on Friday said the limited availability of Apple's popular iPhone could hurt consumer electronics retailers and even traditional book retailers.
Stifel Nicolaus & Co. analyst David Schick said in a note to investors that the iPhone, which has a new, cheaper version debuting Friday, is "clearly the must-have electronics item du jour."
Because it is only available at Apple and AT&T Wireless stores, he said, consumer demand could "incrementally hurt demand or at least foot traffic to Best Buy and Circuit City," he wrote Friday.
Moreover, the iPhone has software available to download books and read them on screen.
"With 99-cent downloads of classic books to iPhone--and the sheer millions of iPhones that will be sold--we expect iPhone could represent another chapter of technology pain for the traditional book business," Schick predicted.
Apple shares fell $2.63 to $1.74 during midday trading.
Circuit City Stores Inc. shares fell a penny to $2.14.
Best Buy Co. shares fell $1.57 to $36.99.
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