Ponca City, We Love You writes "There's some interesting speculation from Cringley on why AT&T chief executive Randall Stephenson let drop that a new version of Apple's iPhone will be introduced in 2008 that is capable of operating on faster 3G cellular networks. The announcement is sure to cut into Apple's Christmas sales and could also cost ATT a million new customers at least $1 billion in market cap for ATT, says Cringley. "It is no coincidence that Stephenson made his remarks in Silicon Valley, rather than in San Antonio or New York," says Cringley. "He came to the turf of his 'partner' and delivered a message that will hurt Apple as much as AT&T, a message that says AT&T doesn't really need Apple despite the iPhone's success." What may be troubling the relationship between AT&T and Apple is the upcoming auction for 700-MHz wireless spectrum and AT&T's discovery that Apple may be joining Google in bidding. AT&T thought its five-year "exclusive" iPhone agreement with Apple would have precluded such a bid, but that just shows how poorly Randall Stephenson understood Steve Jobs. "Stephenson took the dispute to the streets this way, showing he isn't intimidated by Jobs. It was a bold and rare response for big business and was definitely unexpected by Cupertino, which won't underestimate AT&T again," Cringley added."