Apple iPhone Stumbles Out of the Gate
Investors have been enthusiastic about Apple's prospects in the wake of the iPhone's introduction last month, and many on Wall Street were eagerly anticipating AT&T's update on activations of the new device. Apple introduced the iPhone the evening of June 29, so it was understood that AT&T's figures -- which cover the second quarter ended June 30 -- would reflect just a day and a half worth of sales.
Even so, the San Antonio telco's announcement Tuesday morning that it had activated a total of 146,000 iPhones on June 29 and 30 was met with something less than enthusiasm. Apple fans and industry analysts had been looking for about double that number.
Some iPhone customers did experience troubles activating their phones during the first few days of the debut. That may account for the some of the lower-than-expected tally from AT&T.The iPhone did not fully sell out during the first week of the introduction, causing some disappointment among the most optimistic observers. As TheStreet.com reported earlier this month, Apple's best-case-scenario goal or
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV