Apple stock take a dive on news of iPhone activations falling short of expectations
By Will Park on Tuesday, July 24th, 2007 at 1:19 pm PST In AT&T, Announcements, Apple, iPhone
We were all expecting iPhone sales in the neighborhood of 500,000 units over the launch weekend. So AT&T’s announcement this morning of having activated only 146,000 iPhones in the last 30 hours of Q2 came as something of a surprise. And, as those hyper-reactive Wall Street drones are so prone to do, Apple stock took a $3.72 dive to $139.90.
Yes, AT&T’s activation numbers were disappointing. But, they make complete sense - to us anyway, we’re not sure what those financial-types are thinking. Keep in mind that the iPhone, which launched June 29 at 6pm, only had 30 hours before the end of the fiscal quarter. Then think about how many newly-minted iPhone owners weren’t able to activate their iPhones over that launch weekend. Oh yea, lest we forget that many iPhone hopefuls bought the Apple Store limit of two iPhones, with the intention of gifting one of their iPhones - who knows how long it took those lucky recipients to activate their new phones.
The point is, don’t let some half-informed finance-tard get your panties in a bunch. Apple likely sold the boatload of iPhones that we all expected over the launch weekend - activation numbers aren’t a reliable indication of actual sales. We’ll have solid numbers after close of market tomorrow, when Apple releases their Q2 results.
[Via: MacDailyNews]
July 24th, 2007 at 8:10 pm
[...] is really raking the cash these days. Following today’s reports from AT&T about shorter-than-expected iPhone activations (causing panty-wearing investors to [...]
July 26th, 2007 at 2:53 pm
[...] AT&T’s report of only 146,000 iPhone activations in the last 30 hours of the fiscal quarter, Apple has announced [...]