iPhone: Analysts and Reality

Live by the hype, die by the hype. Apple (AAPL) stock took a beating yesterday when AT&T announced that it had activated

Live by the hype, die by the hype. Apple (AAPL) stock took a beating yesterday when AT&T announced that it had activated “only” 146,000 iPhones during the two days in June the wonderphone was for sale. By any reasonable standard, even any unreasonable standard, that was a phenomenal launch, working out to an annual rate of nearly 27 million units. But investors’ expectations were so out of line with reality that they knocked $8.81 off the stock price. (A more meaningful test will come later today, when Apple reports earnings.)

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