It’s almost like clockwork…
AAPL starts to rocket, yet again, followed by an iconoclastic and contrarian linkbait article somewhere.
Which, in turn, makes the stock stumble, just enough for a little extra wiggle room and a couple of bucks a share within a few weeks when the stock makes its inevitable and bankable rebound.
Following iPhonemania of just a few short weeks ago, which saw AAPL jump dramatically, we get disappointment.
Dissapointment, because only 150,000 people bought and activated their new iPhone within TWO DAYS.
Apple shares fall as iPhone subscriptions disappoint | Rhode Island news
AT&T — the iPhone’s exclusive carrier — said it activated 146,000 iPhones on June 29 and 30, a number that disappointed investors following some analyst forecasts that Apple would sell 500,000 or more iPhones in its first weekend.
The news interrupted a steady rise in Apple’s stock price that started with the iPhone’s release. The 18-percent surge generated $18 billion in shareholder wealth.
Yesterday, Apple shares fell $8.81, or more than 6 percent, to $134.89, wiping out more than $7 billion of Apple’s market value.
So, let’s see… 150k @ $500 per = $75,000,000 in sales over the weekend. What a FLOP!
As the article mentions, the salient point is that the metric used is ACTIVATIONS, not sales. Do we even know how many were SOLD but not activated?
