Jul 26 2007
Apple beats, up 9% in after hours trading
The last couple of days have been a roller coaster for Apple. The company opened on Monday at $143, but closed tuesday down nearly $9 to $134.89.
After reporting earnings this afternoon, however, Apple is back up…big time, rising nearly $13 in after hours trading to $150 - a record high for the company.
The jump was fueled by better than expected earnings and the sales of 270,000 iPhones during the first two days of release. Oddly, AT&T reported yesterday that iPhone activations totaled only 146,000 iPhones during the first two days of release.
Why the discrepancy? I don’t see 124,000 iPhones on ebay (although there are quite a few). Maybe users just waited a day to activate their phones, or were slowed by AT&T’s supposedly unreliable activation service.
It doesn’t really matter…no matter how you slice it, all in all, a great day for Apple.
