Apple (finally) does the iPhone

If there’s been a more hyped prediction story in the past few months, I’d like to see it. Yes, world, Apple officially has a mobile phone. Apple’s CEO Steven Jobs just announced a mobile phone based on its iPod.  The iPhone will be a widescreen version of the company’s video iPod, with a touch screen and Internet connection, Jobs told his Macworld Expo audience in San Francisco.  Wall street certainly likes the iPhone’s chances as Apple shares jumped almost three percent on optimism the iPhone will increase sales by more than $1 billion.   According to Bloomberg, the iPhone will compete for a share of the $127 billion cell-phone market against Motorola and Nokia, which are struggling to fuel sales of their own phones with music and Internet connections.