Apple Shares Drop on iPhone News

AT&T Inc.’s revelation that only 146,000 people signed up for the iPhone during the highly hyped device’s first two days sent Apple Inc.’s stocks plunging Tuesday.

The figure is much below the 500,000 or more that many analysts had predicted for the phone's debut June 29. The number AT&T released for its second quarter financial results does not include how many iPhones were actually sold.

Apple’s shares dropped $8.81, or 6.13 percent, to $134.89.

The company has been tight-lipped regarding iPhone figures but is expected to give a clearer picture when it releases its third-quarter results Wednesday. Apple has said it wants to move 10 million of the devices by 2008.

Apple Inc. www.apple.com
AT&T Inc. www.att.com

Share this article: Email, Slashdot, Digg, Del.icio.us, Yahoo!MyWeb, Windows Live Favorites, Furl
Add this article feed to: RSS, My Yahoo, Newsgator, Bloglines