Knowing that zillions of investors and others would leap for the earnings release for details of iPhone sales, Apple inserted a nice, fat number in the “iPhone” line: 270,000. What was less obvious was the related footnote, which said the 270,000 was referring to:
“iPhones and Apple-branded and third-party iPhone accessories.”
So we immediately rushed out and lambasted other journalists for reporting “270,000 iPhone sales!” Unfortunately, the joke was on us. The footnote was the misleading part, not the headline. During the conference call, Apple clarified that it had sold 270,000 iPhones. Sorry!
So AT&T’s report of 146,000 June iPhone activations (below forecast) was the result of activation problems, not weak iPhone sales. This also means that Apple’s plan to sell 1 million iPhones by the end of the quarter looks like a slam dunk.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.