i-phone could be i-dud

[Thunder22]

http://www.nypost.com/seven/07252007...an_garrity.htm

July 25, 2007 -- Fears are mounting that Apple's much-hyped iPhone may not be the instant hit many in media and tech circles were anticipating.

Shares in Apple Inc. slid over 6 percent yesterday to $134.89 following word from AT&T on Monday that it activated 146,000 iPhones in its first day-and-a-half of sales following its June 29 debut.

While AT&T called the product's performance "robust," nervous Apple investors were less than impressed. Some analyst estimates were forecasting initial sales of as much as 500,000 units.

Apple has said it hopes to sell 10 million iPhones worldwide by the end of 2008.

To keep pace with that target, the company will have to sell an average of 500,000 units over the next 20 months.