About the Author

author photo

Zach Bass (a.k.a Ernie Varitimos) is Chief Bloviator of Investor in the Wilderness. He has 30 years experience as a Tech Maven, Investor and Consultant. Zach has been using Macs since their introduction in 1984, and investing in the markets just as long. His mission is to help guide all level of investors through the Apple Ecosphere and make sense of the markets. Zach's take on Apple, the markets, and life pursuits, will keep your mind tuned.

See All Posts by This Author

Apple Says 1 Million 3G iPhones, Munster Got it Wrong?

July 14th, 2008 • Related • Filed Under
feature photo

Piper Jaffray’s Gene Munster, although one of our favorite Apple analysts, plain out got it wrong! Apple has an official press release stating that they sold 1 million iPhones, not 425K as he reported.

Steve Jobs, Apple’s CEO was quoted saying, “iPhone 3G had a stunning opening weekend. It took 74 days to sell the first one million original iPhones, so the new iPhone 3G is clearly off to a great start around the world.”

Investors are likely to be confused Monday morning, getting conflicting reports, at least until the news spreads of the mistake. AAPL gapped up on the initial news opening at 179.30 (+6.72 3.7%), then was muted by Munster’s report, but still well above Friday’s close of 172.58.

We’ll be talking about the new iPhone 3G and the App Store in the Wilderness Investor Group ALL week, as well as how to trade Apple (AAPL) in these turbulent times. You should join our community, it’s FREE, informative, and professional traders are there to help you out.

blog comments powered by Disqus