Analyst: One million iPhone sales in just 74 days proves Apple’s $200 price cut was ‘strategic’
Tuesday, September 11, 2007 - 08:32 AM EDT "Apple Inc. has sold its millionth iPhone less than three months after the device’s debut, allaying investor concerns that demand had slowed," Bloomberg News reports."'As far as dispelling the fears that the iPhone was off to a bad start, this should help that,' said Gene Munster, an analyst at Piper Jaffray & Co. in Minneapolis," Bloomberg reports. "Monday's announcement shows the price cut was 'strategic,' he said. 'It's not anything wrong with the phone.'"
"The company may sell more than 1.1 million iPhones by Sept. 30, the end of its fourth quarter, said Munster, who rates the shares 'outperform,'" Bloomberg reports.
Full article here.

"Monday's announcement shows the price cut was 'strategic,' he said. 'It's not anything wrong with the phone.'"
Steve realizes that one of the the strengths of the Apple brand is in it's customer loyalty. Not pissing people off is a good thing.
Keep the people happy, and they'll buy more Apple stuff. That and offer them $200 store credits...that also works like a charm.
These analyst people are real geniuses...