This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Sinks on iPhone Cutback Talk

The hotly anticipated iPhone generated a great deal of attention and initial sales were brisk. But as reported, the demand was less than some had anticipated. People familiar with the company said at the time that Apple were prepared to sell out the 1 million phones it had ready for its weekend debut.

Last week, AT&T reported that it had activated 146,000 iPhones in the second quarter consisting of less than two days of iPhone sales. Analysts had expected anywhere between 200,000 to 700,000 units would be sold in that period. Activation glitches seemed to have contributed to the lower than expected results.

Apple said iPhone sales were off to a great start and the company booked 270,000 iPhones sold in its fiscal third quarter which ended June 30.

Apple also predicted it would sell 1 million iPhones by the end of September. Observers say the $600 phone may enjoy a big sales pick up around the holidays during the crucial gift giving season.

Apple shares fell $3.58 to $137.85, while telco partner AT&T saw its stock drop 18 cents to $39.59.

Apple's chip vendors could also see some jitters if the rumors are true. Analysts have identified some of the key component suppliers as Broadcom (BRCM - Get Report), Texas Instruments (TXN - Get Report), Marvel (MRVL - Get Report), Micron (MU) and Skyworks (SWKS), among others.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BRCM $54.67 0.31%
AAPL $93.99 0.00%
MRVL $8.61 0.00%
T $36.47 0.00%
TXN $51.14 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs