Apple shares fall on AT&T 2nd quarter results
|
Alfredo Padilla Published on July 24, 2007 Comment on this |
|
|
|
|
AT&T today announced their 2nd quarter results, including the information that 146,000 iPhones were activated in the quarter. Only one and a half days of iPhone sales would be included in these results, however many analysts had speculated that several hundred thousand iPhones were sold during the opening weekend. These activation numbers from AT&T point to sales at the low end of analyst expectations. Apple stock is down today on the news, posting a low of $136.55 after closing at $143.70 last night.Of the 146,000 iPhone activations AT&T stated that over 40% of those were new activations, contributing to a net gain of 1.5 million subscribers in the quarter. Data centric phones like the iPhone helped AT&T post gains in data revenues of 66.9% with 37 million active data users. AT&T's definition of data usage includes things like text messaging in addition to the use of more advanced features like web browsers.
The volatility in Apple's stock comes on a down day for markets in general. Research In Motion, makers of the BlackBerry messaging devices, is currently down 2.96%. The success of the iPhone is considered integral to the rise of Apple's stock over the past six months. After today's announcement from AT&T traders will be watching closely when Apple releases their third quarter numbers tomorrow.
|
|
|