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Apple shares drop on iPhone activations
AT&T Inc. wiped some of the glow off Apple Inc.’s iPhone on Tuesday, releasing numbers that showed fewer people than expected signed up for service in the first two days of the multimedia cell phone’s release
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.
Posted by | Wed, Jul 25, 2007 - 08:06 AM
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