iPhone and the analyst delusions

[qi:053] Apple is taking it on the chin, well because AT&T didn’t meet the inflated expectations of analysts. activations. A friend of ours emailed to point out the grand delusion of Wall Street in what has to be the funniest email of the morning:

Analysts are truly a funny breed. They remind me of my wife when she asks a question, answers it on my behalf, and gets mad at the answer. Case in point, our favorite subject iPhone sales, analyst’s euphoria kept them upping each other till they reached 700,000 units sold over the first two days or weekend. Mind you, not single one showed real analysis. When ATT announced the real numbers of 146K activations, they are suddenly unhappy!

Richard Farmer of Merrill Lynch takes the cake, when he stomps his feet and says, “we expected more days of selling in June.” We know Steve is God, but even he can’t add extra days to June.
Not be Apple’s defense team, which product (not particularly a great one) that carries a $2000 price tag (over two years) sold 146,000 units in 1.25 days (mind you Friday sales started at 6 pm) bringing in a total of around$292 million. Over a period of 30 hours (including night time) equates to 4867 iPhone activations per hour or 82 activations per second minute.