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Tuesday, June 22, 2010

iPHONE 4 UPDATE :: ATandT to sell a week later Due to Numbing Numbers of Orders for this phone

Jun 22, 7:01 PM EDT
ATandT not selling iPhone 4 until June 29
Latest News  |   [SOURCE]
SAN FRANCISCO (AP) -- Though Apple stores will be carrying the iPhone 4 this Thursday, you'll have to wait until next week if you want to buy it from its official U.S. wireless carrier, ATandT Inc.

ATandT said Tuesday that it will start selling the iPhone 4 on June 29 through its stores and website to anyone who wants to buy one but was not able to order on June 15 - the first day that Apple and its partners took orders for the gadget. ATandT stopped taking orders the next day because of overwhelming demand.

ATandT spokesman Fletcher Cook said that because the number of early orders for the new iPhone were so high, the company "made it our priority to fulfill these orders first."

Apple and its partner companies started taking iPhone 4 orders on June 15, and the next day Apple said they received more than 600,000 orders in 24 hours - the highest number Apple has ever seen.

The companies, including ATandT Inc., the exclusive carrier in the U.S., stopped taking orders, and ATandT said at the time that it had to focus on fulfilling orders already received.  [SOURCE]


Apple shares hit new high on iPhone 4 pre-orders
Latest News
SEATTLE (AP) -- Shares of Apple Inc. touched an all-time high Thursday after pre-orders for the upcoming iPhone 4 exceeded expectations.

The new iPhone officially goes on sale June 24, but Apple started taking orders in advance on Tuesday. The swell of people trying to reserve the smart phone online and in stores bogged down Apple and AT&T websites. Prospective buyers quickly exhausted the supply of phones that were to be available for shipping on launch day, and Apple said it took more than 600,000 orders. Now, people who pre-order are told the gadget will ship by July 14.

"Momentum appears beyond our bullish expectations," wrote Shaw Wu, a Kaufman Bros. analyst in a research note Thursday. "Based on our analysis of demand trends and supply chain data, we are raising our already above-consensus estimates, which frankly we find remarkable as we are arguably still in a recession."
Wu, who has a "Buy" rating on the stock, raised his price target to $340 from $320.

Apple's stock reached an all-time high of $272.90 in morning trading Thursday before paring some of its gains. In early afternoon trading, Apple shares had gained $4.49, or 1.7 percent, to $271.74. [SOURCE]
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