Apple Sells One Million iPhones

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Apple (AAPL) announced this AM that it has sold one million iPhones in the first 74 days since the product hit the market. The company says it will sell 10 million by the end of 2008.

The news is actually mixed. although AAPL shares are up about 4%. Hitting one million should serve to remind the market that cutting the price on the iPhone may have been unnecessary.

Apple will now have to sell 1,666,657 iPhones to bring in the same revenue that it did on the first million. There is something about that math that is troubling.

Douglas A. McIntyre

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