Apple Reports it Sold 1 Million iPhone 4S on First Day

Apple (NASDAQ:AAPL) issued a press release this morning announcing that it has sold 1 million of its new iPhone 4s on the first day that it was publicly available.

Bank analysts, including those from RW Baird and Ticonderoga Securities, raised their price targets for Apple’s stock on the news.  Despite the good news from Apple, concern about Sprint-Nextel (NYSE:S) margins remain a concern.

iPhone 4S Sales Make Tim Cook a Genius for Now>>

Following is some information on Apple’s stock price performance, as well as that of the phone companies that its iPhone uses.

  • Apple, Inc. (NASDAQ:AAPL): The shares recently traded at $384.44, up $14.60, or 3.92%, on the day.  The shares have traded in a 52-week range of $290 to $422.86 and its market capitalization is $356.42 billion.  About the company: Apple, Inc, designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions.  The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.
  • AT&T (NYSE:T): The shares recently traded at $28.84, up $0.40, or 1.41%, on the day.  The shares have traded in a 52-week range of $27.20 to $31.94 and its market capitalization is $170.91 billion. About the company: AT&T, Inc. is a communications holding company.  The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.
  • Verizon (NYSE:VZ): The shares recently traded at $36.59, up $0.43, or 1.22%, on the day.  The shares have traded in a 52-week range of $31.60 to $38.95 and its market capitalization is $103.6 billion.  About the company: Verizon Communications, Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information.  The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment and payphones.
  • Sprint-Nextel (NYSE:S): The shares recently traded at $2.27, down $0.14, or 5.81%, on the day.  The shares have traded in a 52-week range of $2.21 to $6.45 and its market capitalization is $6.8 billion.  About the company:  Sprint Nextel Corporation offers a range of wireless and wireline communications services to consumer, business and government customers.  The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities, and a global Tier 1 Internet backbone.

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