300% sales spike
According to Piper Jaffray’s Gene Munster, before Sept. 5, iPhone sales had leveled off at around 9,000 per day, mostly at $600 a pop. Now, following the iPhone price cut, Apple is moving 27,000 per day at $400 each. But is this growth sustainable? No. Munster says he thinks that after this initial 300% sales surge, the price-cut will yield a stable 50% sales increase. Apple has verified none of this.
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