Is a rebate in the works for the iPhone?

Rumors are flying again regarding the Apple iPhone cost. Normally, rebate news isn't necessarily something to stop the presses for. However, when you're talking about the Apple iPhone and it's daunting $600 price point, it is.

Shawn Wu, an analyst out of American Technology, notified clients in a letter today that "we are hearing rebates of $50-150 that will be offered by AT&T to lower the price points for iPhone (currently $499 for 4 GB and $599 for 8 GB) and to entice customers to sign longer term voice and data contracts," the analyst wrote. "From AT&T's perspective, a rebate is a great marketing tool and small sacrifice to make to entice a customer to sign up for 2-year voice and data cell phone plans that cost about $75-100 per month (before taxes and fees), meaning $1800-2400 in 'guaranteed' bi-annual revenue."

All of this seems to make sense. Then again, the near $600 price has shocked everyone since it was originally announced. Though dropping the price $100 doesn't necessarily make the iPhone a bargain bin item - it certainly helps. Any news regarding the iPhone's price is good news for those out there hoping to make  the iPhone a part of their daily grind.