A Black Hole of Happiness

[pony_trekker]

Evidently, more people are like me, Iphone voyeurs, than TM

I guess ATT's service can scare anyone away.

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AP
Premarket Movers: Apple Down
Tuesday July 24, 8:44 am ET
Apple Declines Following AT&T Results, Skeptical Comments From Analyst; Lockheed Martin Jumps


NEW YORK (AP) -- AT&T Inc. said early Tuesday it activated 146,000 iPhones in the second quarter as the exclusive service provider for the much-hyped new gadget, and shares of Apple Inc. fell in premarket electronic trading.

While the June 29 launch of the iPhone meant there were only two days in the quarter to activate service, Wall Street may see the number as light. Some analyst have forecast sales of 500,000 to 700,000 iPhones in the first weekend, although Buckingham Research Group's Qaisar Hasan said that figure is probably "on the high side."

Apple shares, which are up more than 69 percent this year, largely on enthusiasm related to iPhone, gave up $2.60, to $141.10 in the early session, from their close at $143.70.

Skeptical comments from CIBC World Markets analyst Ittai Kidron didn't help Apple shares. "Based on our store checks, we believe that demand for the iPhone has seen a significant decline in the past 10 days," Kidron wrote in a note to clients. "We have noticed decent inventories at stores, and thin demand at best. In fact, most Apple store visitors were not looking at the device and only a very small subset bought it."

Moreover, a recent survey of iPhone buyers has suggested that poor data connectivity is a "key shortcoming," Kidron wrote.

AT&T meanwhile reported adjusted profit of 70 cents per share, ahead of Wall Street expectations for 67 cents per share. Revenue surged 87 percent to $29.48 billion, slightly short of analysts' estimates for $29.63 billion revenue.

In heavy premarket trading, shares dipped 28 cents to $39.75, from their $40.03 close Monday.

Premarket indicators and futures trading suggested the markets would open down Tuesday.