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    Apple Shares Fall on iPhone Concerns

    By Stock Charts | July 24, 2007




    I had mentioned in a previous post on Apple, Inc. (AAPL) that while Apple’s shares have enjoyed a great run from the iPhone hype, any negative news or missed expectations would quickly cause the stock to quickly come crashing back down to earth. Today, AT&T’s earnings report showed that only 146,000 phones were activated on June 29 and 30, the iPhone’s debut weekend. This is a pretty strange statistic. Of course, hackers and developers have already managed to “unlock” the iPhone and effectively turn it into a very expensive internet/mp3 device, and these people might not need the mobile phone service.

    However, I’m sure that they are in the minority, and the majority of the people who bought the iPhone are intending to use it as a phone. A large part of this problem lies within activation problems that caused users to wait a few days before being able to sign up. But with reports of over 500,000 iPhones sold in the debut weekend, it is nonetheless surprising to see such a large percentage of these remaining unactivated, suggesting that the problem was greater it seemed. In any case, we’ll find out the real numbers tomorrow when Apple releases it’s third quarter earnings report. Look for a large move up or down, depending on the iPhone sales numbers and future guidance.

    Apple AAPL Stock Chart

    Analysts are expecting Apple to continue its strong profit growth. According to a survey by Thomson Financial, Apple is expected to earn 72 cents a share on $5.29 billion in revenue for the third quarter.

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