BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Apple hit hard on AT&T's iPhone numbers. Was it unwarranted?]]>http://www.bloggingstocks.com/2007/07/25/apple-hit-hard-on-atandts-iphone-numbers-was-it-unwarranted/http://www.bloggingstocks.com/2007/07/25/apple-hit-hard-on-atandts-iphone-numbers-was-it-unwarranted/http://www.bloggingstocks.com/2007/07/25/apple-hit-hard-on-atandts-iphone-numbers-was-it-unwarranted/#commentsFiled under: , , , , ,

Shares of Apple Inc. (NASDAQ: AAPL) sank in late-day trading Tuesday after AT&T (NYSE: T) said the early surge of iPhone buying wasn't as big as projected. AT&T reported that 146,000 iPhone owners activated its service in the first 36 hours of the phone's debut. While that would be a huge success for any other consumer-electronic product, it was considered a flop by some. Besides, the much-touted iPhone isn't "any other consumer-electronic product." A number of analysts expected AT&T to report activating as many as 500,000-700,000 iPhones for the quarter. "It was a disappointment," a Piper Jaffray analyst told USA Today.

The news sent shares of Apple down nearly $9, to $134 yesterday, while AT&T dropped $0.35 to $39.68. Both companies are up notably today.

Richard Linder, AT&T's Chief Financial Officer told the New York Times that demand for the iPhone at AT&T stores had outstripped supply in two days and that the launch "couldn't have gone better." Richard Doherty, an analyst at Envisoneering Group, considered the iPhone sales a success. He told USA Today that "no consumer electronic product at that price point has ever sold 146,000 units in two days."

Continue reading Apple hit hard on AT&T's iPhone numbers. Was it unwarranted?

Apple hit hard on AT&T's iPhone numbers. Was it unwarranted? originally appeared on BloggingStocks on Wed, 25 Jul 2007 16:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aaplactivateAppleat and tAtAndTiphonelinderphonetWed, 25 Jul 2007 16:05:00 EST