Apple shares rose Wednesday as a Piper Jaffray analyst predicted promotional iPhone price cuts in the United Kingdom and Germany will pave the way for the release of a new iPhone model with 3G technology in June. Apple shares rose $4.69, or 3.2 percent, to $153.07. In the past year, the stock has traded between $89.60 and $202.96.

iPhone Price Cuts in Europe Lift Apple Shares