The release of the 3G iPhone has Apple enthusiasts pumped up, but it left AT&T investors feeling deflated over the carrier’s decision to heavily subsidize the new, cheaper device in the hopes of reaping longer-term gains. While Apple shares were up about 2 percent Tuesday, AT&T’s stock was down, losing just under 1 percent to close at $37.22. The drop came a day after AT&T acknowledged that the new generation of iPhone — which will run on a faster network and feature GPS technology — will cut into profit margins and earnings for the rest of this year and for all of 2009.
