iPhones piling up at AT&T stores?
Posted by Dennis Sellers 
Jan 24, 2008 at 5:45pm
A CNET report says that iPhones may be piling up at AT&T stores. AT&T, the exclusive American carrier of the iPhone, activated just 900,000 iPhones during the fourth quarter, the company revealed during its earnings conference call Thursday. It wrapped up the year with “just at or slightly under 2 million iPhone customers,” according to company executives.
At last week’s Macworld Conference & Expo, Apple CEO Steve Jobs said that Apple has sold four million iPhones through the middle of January. Toni Sacconaghi, a financial analyst with Sanford C. Bernstein, told CNET’s Tom Krazit that the gap between the figures means that Apple might have a demand problem. He released a research note Thursday after AT&T’s earnings saying that the carrier’s figures imply that an awful lot of inventory is building up at Apple’s channel partners.
“We believe the data points to a significant amount of iPhone channel inventory…This is negative in two ways: (1) it indicates end-user demand for iPhone is lower than many investors may think based on Apple’s sales figure; and (2) it points to slower iPhone sales in the current quarter, since much of this inventory is likely to be drawn down,” Sacconaghi wrote in his report (again, as noted by CNET).
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
