Apple Preview (AAPL)
Courtesy of Karl Denninger, The Market Ticker
Here it comes……
Verizon reported activations down some 30% from last quarter for iPhones. AT&T was just out with 4.3 million iPhones — but last quarter they sold 7.6 million, a decline of 43% from last quarter!
Yes, AT&T's results were pretty good in terms of earnings. But when it comes to Apple the problem is the activation and sell-through numbers — they're collapsing.
That's called market saturation and it was inevitable. Even with the "4S" the spurt was short-lived and now it appears the fanboi game has run its course. Worse is that it appears that only 21% of AT&T's activations were new customers.
Apple is due to report this afternoon and if you can find the math that supports the expected numbers on iPhone sales given the reports from the two carriers in front of their numbers I wish you luck. Apple is "expected" to sell ~35 million iPhones this last quarter.
Well, we have 7.4 million between the two largest US carriers reported thus far.
Where did the other 27.6 million sales come from?
It's called subtraction folks…..
Disclosure: Lightly short and debating whether to remain so through the bell.
