“The iPhone buzz is wearing off,” Scott Moritz reports for The Street. “AT&T shares dropped 2% Wednesday after Apple made two moves that took a little more sparkle off this summer’s heavily hyped smartphone debut.”
MacDailyNews Note: Apple shares currently stand at $137.50, down $6.66 (a nice number, if you know Apple history), or -4.62%, on heavy volume of 78.78 million shares.
“First, Apple rolled … the iPod Touch — a touchscreen iPod that essentially strips the cell phone chip out of the iPhone,” Moritz reports. “Then, in an unexpected move, Apple killed the 4-gigabit iPhone and slashed the price of the 8-gigabit iPhone by $200, to $399.”
“The move will add more evidence to the speculation that the iPhone, while causing quite a buzz, may not be selling as rapidly as some optimists had expected,” Moritz reports.
Full article here.
Yes, speculation is always much more important than facts. Apple’s iPhone, in July, its first full month on sale, grabbed nearly 2% of the mobile handset market in the U.S. This is unprecedented. Apple today announced that it is on track to meet its goal of selling one million iPhones before the end of September. “Wearing off?” Puleeze. The “iPhone buzz” hasn’t even begun. As many know, Wall Street loves to play games. So does Apple: hardball, obviously. Apple’s competitors lost their lunches (and breakfasts and dinners and snacks) today. In our opinion, if you look up “buying opportunity” in an up-to-the-minute dictionary, you’ll be greeted with a shiny Apple Inc. logo. Look up “Motorola” or “Palm” or any number of others today and you’ll see the same photo of a fresh, steaming crater.
[UPDATE: 9/6, 12:22am EDT: Corrected “2% of the mobile handset market in the U.S.,” not just “2% of the so-called ‘smartphone’ market in the U.S.” Even more impressive, Apple! Thanks, Dan.]