iPhone nano rumors

According to Forbes, Apple stock is up based on today's rumors of an iPhone nano. We here at TUAW have heard this latest rumor, we're just not freaked out about it. As far as we can tell, all this furor is based around a single Apple patent that was speculated upon by J.P. Morgan analyst Kevin Chang. And right now as far as we can tell, while the news-o-sphere (the traditional media equivalent of the blogosphere) is going crazy on this unsubstantiated suggestion, there aren't any facts backing it up.

Yes, Apple will probably follow on to the iPhone--that's kind of a given. And yes, the next iPhone may be cheaper. But since the existing iPhone is already nano-esque in that it is flash-based with only 4 or 8 GB of memory, it's hard to see where speculation about a second iPhone that's nano-esque and possibly slightly cheaper is actually all that, you know, newsworthy.

Thanks everyone who wrote in about this.