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AAPL Rockets Up After Earnings Report
by , 5:30 PM EDT, July 25th, 2007
Apple closed on Wednesday at US$137.26, but shot up more than $9 to $147.04 in after-hours trading once the company announced its third quarter earnings. That financial report revealed that the company shipped 270,000 iPhones and brought in over $5.4 billion in revenue.
The company's stock dropped after AT&T revealed on Tuesday that it had activated 146,000 iPhones during the first two days of availability. Apple's stock stabilized on Wednesday, and then started it's rocket-speed climb after hours when analysts and investors discovered that iPhone sales far exceeded AT&T's contract activation numbers.
Apple is predicting that it will sell 1 million iPhones by September, well ahead of the time frame it took to sell the same number of iPods or Microsoft's Zune media player.
Apple is currently trading after-hours at $147.04, up 9.78 (7.13%).
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
Observer Comments
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