iPhone's $200 Million Jackpot
An AT&T representative declined to offer any numbers, other than to say the company is adding 2,000 temporary workers to help out. The representative added that each store will have "a healthy supply" of iPhones.
So with 1,962 stores and let's say 200 phones per store, Apple stands to sell some 392,000 iPhones, I can now reveal. With each phone selling for an average price of $550, Apple stands to take in $216 million in revenue on the evening of June 29. And that's not including online sales.
To put that in perspective, Wall Street analysts expect Apple to post third-quarter revenue of $5.28 billion -- which works out to around $59 million a day. So the iPhone alone could do more than triple the revenue the company typically brings in in a given day.
Some analysts have calculated that given the iPhone's lush margins, every 1 million iPhones equals 6 cents per share bottom-line profit. So June 29 looks to be worth $2 million in profit, or about 2 cents a share.Not a bad way to close the books on a big quarter. To see other stocks that might benefit from Apple's big day, please click here for a Stockpickr portfolio.
|Want more? Check out TheStreet.com TV video. Scott Moritz discusses Apple's big day, and what to expect.|
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