Wednesday, July 25, 2007

Apple -- Stock Expected to Follow AT&T Down Today, Rockets Upward Instead

As avid readers know, I too have been captivated (or captured?) by the hype-machine that Apple and its iPhone are.

Yesterday, after AT&T released "disappointing" initial iPhone-related results, most analysts expected Apple's stock to get "hit" today when Apple released its quarterly earnings. Well, were they wrong! Last I checked, in after-hours trading today, Apple shares have rocketed almost 10 points to 150. And, initial two-day sales of the iPhone (i.e., by the end of June) were 270,000 (meaning that AT&T activated about half of those phones during that same time period).

Apple continues to surprise ... seems like a "buy and hold" to me ...