Apple shows up twitchy investors, announces sales of 270,000 iPhones – stock rebounds
By Will Park on Thursday, July 26th, 2007 at 2:06 PM PST In AT&T, Announcements, Apple, Financial/Corporate News, iPhone
Following AT&T (NYSE: T)’s report of only 146,000 iPhone activations in the last 30 hours of the fiscal quarter, Apple (NSDQ: AAPL) has announced their iPhone sales numbers over the same period. After AT&T’s announcement sent Apple stock tumbling, news of the company’s 270,000 iPhone sales helped shares rebound to their pre-AT&T announcement prices.
We’re not sure how many of the more-than-quarter-million handsets were 4GB and 8GB models, but it looks like most people didn’t activate their iPhones until after the end of the fiscal quarter. As we speculated, this could be due to the fact that most people maxed-out the Apple Store limit of two iPhones with the intention of gifting one of the devices – which wouldn’t be activated for some time. And, don’t forget all the activation problems people were experiencing over the launch weekend.
Way to go, Apple! It looks like nervous investors bailed too early.
[Via: USA Today]
Way to go Apple, still only 50% of what the analysts hoped for. Hmm… Will be interesting to see how the sales evolve as the hype is finally dying and the realities of locked phones, high prices, lack of features start to settle in? The UI is still pretty though (although as counter-intuitive at times as it is intuitive at others)