Apple to Hold Press Conference Addressing Antenna at 1:00pm EST

Seen here demonstrating to all you idiots how to properly hold a phone (it’s like you have to tell fish water is wet…), Apple honcho Stevie J says he still does not plan on a recall of iPhone 4.  $AAPL shares saw a spike late in yesterday’s trading day (like everything else) but has since broken under $250 yet again.  My guess is this level will hold likely again as well, as Apple is expected to at least alleviate some uncertainty and finally address this issue.  Free bumpers would probably cost them only pennies/share and that seems like the most likely scenario.

Gizmodo’s Brian Barrett notes that Apple’s antenna engineers were aware of the issue, but apparently lost a battle with the team in charge of the design aesthetic of the new phone. Jesus Diaz points out that a “silent recall” might already be going on, as a user who exchanged his phone within the warranty period was unable to reproduce the problems with the new unit.

Basically what I’m telling you is if you want total coverage of this ongoing issue, head over to Gizmodo, who will also be covering the press conference live starting at 1:00pm EST.

UPDATE: Free bumpers until September 30th. It it’s implied then, that by that date, they’ll have the antenna problem fixed in new stock.

250/share holds, $AAPL gets a short term pop on the announcement.  Even turns positive despite Nasdaq being -50.

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