Apple (AAPL) Restricts iPhone Sales

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Hand it to the people at Apple. They want complete control of the world of iPhone. To that end, they will not sell anyone over two of the handsets, and customers have to give a credit card. No cash.

Apple (AAPL) says the new programs should keep profiteers from buying the hot devices and reselling them at a profit.

As one Apple manager told Bloomberg: "Limiting iPhone sales helps us ensure that there are enough iPhones for people who are shopping for themselves or buying a gift.”

The company did not say what customers should do it they have more than one friend.

Douglas A. McIntyre