Apple shares down 3% on iPhone cutbacks rumors

oh this is ridiculous.

first, the current iPod is being end-of-lifed. of course production is being cut.

second, "only" 270,000 phones sold in what, 30 hours? please.

while I think Apple will be hard-pressed to sell a million by the end of the quarter, this "news" release smells pretty badly of the usual thestreet.com "pay attention to me!" blather.

The usual Wall Street FUD to get their customers into a high flying stock at a cheaper price. The last quarter was strong iPod sales. Why would they cut production?

Quick answer they aren't.

As to the iPhones? Apple plans to sell 10 million in 1.5 years. Why would they make 9 million for the launch. This rumor (that the production run was 9 million) is just ridiculous!

Apple has stated publicly that they are on target for 1 million by quarter end and 10 million sold during 2008.

Any slowing in sales will more than be offset by the certain price cuts for the holidays.

Just FUD for the Wall Street Gordon Geckos to make more money by manipulating the market.

These rumors are criminal. Too bad the SEC has been spayed, or should that be neutered?

Just a thought.....

Think about it Apple will eventually sell 9 million iPhones. That's not a question especially with the overseas market still waiting. The question is how long it will take. Bear with me for a moment and read the following links...

http://www.newsday.com/business/ny-bzipho0730-story,0,3274582.story?coll=ny-business-leadheadlines

http://www.thestreet.com/s/apple-sinks-on-iphone-cutback-talk/newsanalysis/techtelecom/10371293.html?cm_ven=CNNMONEY&cm_cat=Free&cm_pla=Feed&cm_ite=Feed&puc=cnnmoney?puc=_cnnmoney

There's no question that the “non-removable” battery on the iPhone has brought up much controversy lately. Now maybe I'm going out on a limb here but if Apple were to significantly change the design of the iPhone and give it a removable battery wouldn't they have to stop production of the current model at some point?

Now my thinking is that 4.5 million iPhones is their buffer zone between the change’s in the iPhone’s design.

As far as rumors of cuts in iPod production….Well maybe Apple’s got some major changes in store. Just a thought!

It's always fun to see the Appleheads spin any numbers so that they mean the stock will continue it's monumental run. Apple ducked every question concerning sales and inventory at the earnings CC....this was a clue. Had there been anything positive to announce, they surely would have.
Now....Apple has drawn a HUGE target on their backs...allowing speculation of near 50% margins on the iPhone. Nokia is coming hard....with several answers including a music service, an Apple TV type product and MANY flavors of touch screen phones and internet tablets.

Apple is a niche computer company...albeit a good one. They can only hope to achieve the same in the phone business....D

You have a valid point…..Apple is new to the cell market and a goal of 1% by 2009 is hardly going to put a dent on the major players. This doesn't mean they won't make their fair share$$. The earnings have and will speak for it-self. It's just rather disturbing to see analysts and people completely over react on speculation. The bears are out in full force latley. No matter I’m in it for the long haul anyway. I might even pick up a few at this point!

"These rumors are criminal. Too bad the SEC has been spayed, or should that be neutered?"

Criminal is right. If Apple knew they were going to cut production and said nothing in their July 25 report, that's what would be criminal. Talk about putting a target on your back. It doesn't matter what the SEC does, it's the market's opinion of Apple that counts. They had better explain this fast, if there have been any "unforseen circumstances" at all.

The firm that started this rumor has retracted it, saying that it was "just noise" and that there was not statement made by them today.

File this under insider trading. Not hopelessly optimistic Apple Fans. This was insiders making money in every sleazy way they can. Nothing more.

The iPhone is just the tip of the iceberg.

The real money machine is in the OS, MacBooks, desktops, iTunes, iPod and their amazing market growth. Hinging Apples future on the iPhone is just incredibly foolish.

iPhone has just been rolled out in this country. It's just a baby, a highly advanced and pricey baby. It has a lot of catching up to do and I don't doubt for a second it will exceed Apples projections (not the analysts expectations they've pulled out of ...).

iTunes has just announced 3 billion downloads and at the same time shares drop 7 percent. Unbelievable. This cutback 'news' sounds really fishy. SEC's gonna be all over this one.

I bought more shares at 133. I love a good bargain.

Apparently the skeptics forgot that June 30 marks the end of a calendar quarter, and that July sales get recorded in July, the 3rd quarter. Accounting 101 folks. Unfortunately, the sales launch weekend spanned 2 reporting quarters. Let's relax until we see what this quarter's results look like. And don't worry about the Cingular stats, due to their technical issues not everyone was able to activate their phone on the first day, thus also falling into the next reporting quarter.
I agree with the other posts, it looks more like rumors to manipulate the stock price.