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Posted on 07/03/2007 7:31:16 PM PDT by Swordmaker
Apple's iPhone missed a 1 million unit sales target and rivals are rejoicing.
While the much-hyped phone helped AT&T take a big bite out of its competitors' business, industry observers say effects are far from deadly.
Analysts estimate somewhere between 200,000 and 700,000 iPhones have been sold since the debut blitz started Friday evening. And about half of the sales came by winning customers from Sprint, Verizon Wireless -- co-owned by Verizon and Vodafone -- and T-Mobile, the U.S. unit of Deutche Telekom.
The sales goal -- or so-called whisper number -- both internally at Apple and on Wall Street was a nice round 1 million phones.
Missing this hugely ambitious target is hardly a failure, but competitors in the wireless sector are certainly breathing a little easier.
"There's a lot of rejoicing at Sprint, Verizon and T-Mobile," says IAG Research's Roger Entner. "By not selling out, it is still a solid success, but it also proved that not everyone in the country is willing to drop $600 on a new phone."
"For the other carriers, it's not a game changer. It's business as usual again," says Entner.
Sprint shares are up 60 cents, or nearly 3% since the iPhone's debut, and Verizon is up about $1, or 2% in that same time period, as investors buy into a mini-relief rally.
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Except that there have probably been more than 1.2 million sold already...
All the hoopla around the iPhone's launch and the well-staged sales kick off helped create a lot of pent-up demand.
"What we saw the first day were the diehards who wanted the phone, no matter what," says Entner. "Now we have the rational buyers. And these people are looking much harder to see if the phone is worth $600."
I wonder if Cramer is short AAPL and upset at the run-up in the stock today.
Damn, it looks like Apple is finally going to go bankrupt. Well, at least Steve Jobs still has that Pixar gig to fall back on.
“I wonder if Cramer is short AAPL and upset at the run-up in the stock today.”
Anyone that believes anything they read on thestreetDOTcom is an idiot.
thestreet.com is a blog and a not very good one at that. And [someone mentioned Cramer] ... he’s wild for Apple and iPhone from what I can see.
I mean, 4GB and 8GB flash MP3 players are supposed to be compact, and large devices like the iPhone are supposed to have 30GB, 60GB, or even 80GB of space.
As an Internet device, it might be okay if it had a 3G connection and a slide-out keyboard. Given the sludge that one gets on a Treo or Blackberry just by talking on the phone, I cannot imaging what kind of slime the screen of the iPhone is going to pick up as both a phone, keyboard, and mousepad.
Give the iPhone an EV-DO or HSDPA data connection, and a hard drive, and I may bite. But not an 8GB GPRS/EDGE device.
Which is why I'm questioning the story. Isn't Cramer in trouble with the SEC for pumping stocks recently?
It’s not against the law to “pump” stocks. It is to pump then dump.
By Scott Moritz
Senior Writer
6/25/2007 7:20 AM EDT
Click here for more stories by Scott Moritz
Apple's (AAPL - Cramer's Take - Stockpickr) iDay will put a $200 million revenue ka-ching on the end of this quarter
The temps are trained, crowd control measures are in place and the stage is all set for Friday's debut of the huge iPhone. If Apple can pull it all off, this most orchestrated of product introductions should manage to move nearly 400,000 phones out the door on the first day.
“Note(sic) everyone wants to spend $600 for a 8GB iPod, even if it includes a phone. Especially after dropping $300 on an 80GB iPod.”
But some people want an iPhone and they do not give a crap if it only costs $600. Some people have money and like to spend it on gadgets. I know people with barely the money to pay rent yet the money goes to Marlboros and Busch. How much does the typical smoker pay on cigs? Seems like iPhones is a better choice than butts.
“Let’s see what the author was saying just a few days before the roll out:”
Sword, great find. I never can tell who to rank lowest on the credibility scale.
- Gartner and that ilk.
- The “tech-press”
- Sellside tools (aka analysts).
Personally, I think marrying the iPhone to AT&T for such an extended period was a huge mistake. But time will tell.
“Analysts estimate somewhere between 200,000 and 700,000 iPhones”
200,000 to 700,000!!!! the lack precision is your first clue this is a swag. one Gartner analyst once claimed that 47.3% of users will do “this or that”. I said where did that number come from. She said if she said 50/50 it would not sound as good.
I know the SEC rules. I've been trading for 20 years. However, I also know I can't get sued for libel for accusing of him of "pumping" without adding the "dumping."
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