How stupid do those folks who slept outside for days for a phone feel? They could have waited a year, got a better phone from apple (AAPL) for 1/3 the price….
By the way, Jobs did not actually say it but we all know “actions speak louder than words”…..
Apple finally admitted its sales strategy was a failure today having only sold 6 million phones in year 1 and only 2.4 million to date.
Here is a photo we should have seen from day one:
Jobs botched this one big time. Has this been the price from day one, he would have crushed the market and not given time for competitors (Verizon (VZ) Research in Motion (RIMM) and Sprint (S)) to get their own versions of it working. It took a market share slide to finally convince him that just because something is from Apple, people are not dumb enough to pay whatever he wants to charge. Well some are, but most aren’t.
I expected my post last night to garner the typical Appleholic rage from supporters, I guess they are too busy licking their wounds today????
The real irony here? Even though the stock has sold off and probably will continue to do so for a while on the news, long term, this is the best thing. The phone would have NEVER been a big seller even at $399.
Disclosure (“none” means no position):Sold Apple July $280 Calls in January
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7 replies on “$199 3G iPhone…..Jobs Admits Early Buyers "Suckers"”
todd, as much as i love your posts, this is written like a 13 year old snob. 1st, jobs did early buyers a favor by offering the rebate, then recently, they stopped selling the remaining iPhones. this news is great. Apple essentially gets paid to advertise their mac computers when people buy this iPhone, which very much is a revolutionary pocket computer device which takes market from Garmin while getting AT&T to chip in on the phone with a 2 yr contract (albeit w/o the subscription revenue). either way, stick to your research and quit it w/ the F you’s to aapl fans
JUD,
relax….. i like to poke fun at them…they are silly and easy to rile
apparently you are one….
lol. I’m not sure how I feel about this article. I sort of agree with Jud, but I do find it funny. Glad I wasn’t one of them.
Looking forward to your continued posts about the non-recession 😉
Question: Does there need to be 2 consecutive quarters of neg. growth to be a recession? Or is it possible that recent events will force the technical definition of what a recession is to be redefined?
Second – As an investor… what was your purpose in coming to the conclusion that we are ‘not’ in a recession if not to profit off of a market recovery? Which is also why you made the comment that if you hold onto cash “you’re dead”. Obviously I disagreed at the time – and continue to disagree. But, recent stock market movements clearly squash any application a person may have taken with your theory that we are not in a recession.
I am not trying to bash. I think an article on the above would make for an interesting read though. Think about both points, think about the application to the market (afterall the endgame is to make money), and consider the relevance of the current definition of a recession.
I think that would be enlightening for everyone.
— JD
JD,
i would be very skeptical about changing the definition to meet current criteria..in anything….
it is what it is or is not…
now, please show where i said :if you hold cash your dead” and the context…
do not remember
apple…. personally, i do not care anything about it….
i just like to needle the nuts
Then you have clearly not read many Robert Hagstrom books.
What is the purpose of any definition if not to make a decision based upon the interpretation?
Your point that we are not in a recession has no meaning to any investor unless it has an application in regard to an investment in the market. If you were right, the market would have recovered – it has not.
Sometimes, just because something doesn’t meet currently definitions doesn’t mean that the imapct won’t be the same as if it had met the technical definition.
How many times are solid businesses like SHW going to reduce EPS? Businesses are hurting. The economy is hurting. That is reflected in the current stock market action.
I’m glad I’m sitting on cash.
anon,
you cannot have a recession in an expanding economy…period
shw lowered eps estimates due to input prices, not sales falling off a cliff…
I’m sure there’s an interesting blog entry to be made about how Apple is calling this phone “cheaper” when it actually costs more to own than the first version.
Unfortunately, that’s not the post we got. It seems more like Todd actually believes Apple when they say ” it’s cheaper.”
So which is it? Do you actually believe Apple’s marketing on this? (In which case, you might want to ease up on the tech reporting for awhile.) Or is there some ironic point that I’m missing here. Is it sarcasm? I’m afraid the fault may be mine, for I just don’t get it.