Posted on Monday, June 25 2007 @ 15:43 CEST by Thomas De Maesschalck
Sales at those levels would outdo the iPod, Apple's best- selling product to date, for comparable periods. The danger is that Apple may fall short of projections for initial sales and damp investor enthusiasm for the product.
``There's definitely a lot of buzz,'' said Andy Hargreaves, an analyst at Pacific Crest Securities in Portland, Oregon. ``If they only sell 100,000, that would be bad'' and the stock will fall. Hargreaves is one of two analysts predicting two-day sales of 200,000.
With iPhone partner AT&T Inc., Cupertino, California-based Apple will begin selling the combination iPod and mobile phone on June 29 in the U.S.
Apple shares have gained 44 percent since Chief Executive Officer Steve Jobs unveiled the iPhone Jan. 9, almost seven times faster than the Standard & Poor's 500 Index. The shares closed at a record high of $125.09 on June 18. Apple fell 90 cents to $123 in Nasdaq Stock Market trading on June 22.
More info at Bloomberg.
