Apple may have sold only 200,000 iPhones

In its Q2 earnings report released today, AT&T said that it has activated 146,000 iPhones during on June 29 and June 30. The number is significantly below analysts’ sales estimates, which were in the 500,000 range initially. Of those 146,000 iPhone subscribers, more than 40% were new customers, AT&T said. According to the company, sales of the iPhone continue to be strong in July with store traffic above historical levels.

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Following the announcement, several analysts restated their sales expectations : For example, Piper Jaffray & Co. technology analyst Gene Munster told Bloomberg that Apple is likely to have sold only 200,000 iPhones. Investors reacted almost immediately and gave the recently high-flying share price a break : Apple shares were down $8.81 or more than 6% to $134.89 today.

Apple will report its Q2 result tomorrow.