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"We have noticed decent inventories at stores and thin demand at best," CIBC analyst Ittai Kidron wrote in a note. "Among the stores we visited, most visitors were not looking at the device, and only a very small subset bought it."

Apparently both Apple's and AT&T's stocks slumped significantly based on this news.


I think most of the slump was due to overblown expectations. I was hearing some reports that expected 500k units to move opening weekend. The numbers coming out are pointing at around 150k for June 29th 6pm to June 30th, so not even the entire weekend is covered yet. Apple's full Q3 results come out later today, so it will probably shed more light on it.

Though the good thing is that Apple generally takes a long term look at their health in the stock market, as any company should. So a one day dip (one that was barley 1%) quickly disappears in the incredible gains they have seen over the past many years. I really wish previous public companies that I worked for had a long term outlook in mind instead of just the short term.