I went to about 3 apple stores and all of them were sold out of both the 8 gig and 16 gig iphones. At one of the stores, the girl at the counter kept insisting that I hold out for a bit from buying the iphone, so im gonna go ahead and assume that she meant to wait for the new one. Of course im just taking a guess here. So i wanted to get some opinions on whether i should keep hunting for an iphone for just hold out for the new one coming out (if it is...).

I think that your title is wack thats one, and read the title stiky in my sig
And nobody knows when iphone 2 will be out,Walt Mosseberg said to wait 60 days (until june 4)so we will see

If you have the patients then wait it out and hope for a new one. You also have to consider if its hackable or not. If you want in now then hit up ebay or something like that in get in on the action. Worst comes to worst of your on a offcial carrier you could find some way to break it and use the warrenty on it. Sorry if I am not to helpful on the matter......

your right, theres not telling when it will be out and theres no telling if itll be hackable either. so imma keep hunting for one at an apple store cause they are way to expensive on ebay. thanks for the input.

As of right now, I would recommend waiting unless you really need an iPhone within the next ~3-4 months. If the iPhone 2.0 is announced in June, its still going to take at least 6 weeks for it to be released.

The store staff is a good source of information because they are familiar with the signs, but they don't get any more information than we do when it comes to unreleased products.

It also depends on what carrier you plan on having it with,

I need the iPhone for july.
Even though it won't come out in June, do you think the announcement will make current prices drop a bit?
I'll probably pick one up late June.

The prices will definitely drop. If they don't drop, then they will have to charge about £400+ for an 8gb version, which no one would buy.

Unless of course, Apple strikes a deal with O2/ATT to give the phone for cheaper price and by getting you to sign a contract before leaving the shop.