While earlier estimates suggested that AT&T would make out like gangbusters
considering just how many iPhones it reportedly moved as Q2 came to a close, investors aren't reacting fondly to the firm's latest report. Even though the telco posted a $2.9 billion increase in net income and sales of $29.5 billion, it "only" managed to activate 146,000 iPhones -- which sent Apple's stock tumbling up to 6% (read: billions). Notably, some 40-percent of those iPhone
buyers were new to AT&T
, which helped to slash customer turnover to a record low, but it's not surprise with previous estimates as high as 1m+ iPhones sold, these numbers didn't exactly impress Wall Street; Piper Jaffray & Co. analyst Gene Munster even went so far as to call the amount of iPhone activations "a disappointment."