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“AT&T Inc., reported a 61% rise in second-quarter net income amid recent acquisitions and said it activated 146,000 iPhone subscribers the last two days of the quarter, 40% of whom were new AT&T Wireless customers,” Kevin Kingsbury reports for The Wall Street Journal.
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Rex Crum reports for MarketWatch, “Apple Inc. (AAPL) saw its shares fall $6.70, or almost 5%, to $137.10, after AT&T Inc. released its iPhone sales figures for its second quarter.
“The numbers are seen as a barometer for measuring total iPhone sales because all iPhones, even those sold in Apple retail outlets, must be activated through AT&T’s wireless network. Many analysts were looking for sales around 200,000, with some projections as high as 500,000 iPhones sold in the last two days of the quarter,” Crum reports.
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Notable Calls reports, “CIBC’s Ittai Kidron is out with monster call on Apple saying based on their store checks, they believe that demand for the iPhone has seen a significant decline in the past 10 days. CIBC has 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.”
“With the weakness, they wouldn’t be surprised to see AT&T and Apple step up their marketing efforts. Firm’s channel checks suggest Apple is actually looking to introduce a 3G version of the iPhone for the U.S. market in November, ahead of the holiday season and earlier than currently expected,” Notable Calls reports.
“CIBC now believes the ‘improvement’ could come soon,” Notable Calls reports.
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TheStreet.com reports at AT&T said “sales of the Apple iPhone ‘have been robust.’ AT&T activated 146,000 iPhone subscribers in the last two days of the quarter. “Sales of the iPhone continue to be strong in July with store traffic above historical levels,” AT&T said.
Full article here.