iPhanatics
As I watched the countdown to Apple’s big day - I wondered what percentage of the people sitting in line to buy an iPhone were unemployed, self-employed, or part-time employed. Okay - I am sure there were some full-time members of the workforce out there, but I suspect that not too many people went to their boss and said, “I need a few days off to go sleep on the sidewalk.” After hearing some interviews with these squatters, it sounds like much of the premarket iPhanatics are entrepreneurs looking to sell the phones on eBay or just someone who has been paid to sit in line. Supposedly, each consumer is limited to two phones and it will be very interesting to see how many are remarketed today at ridiculous prices. Makes me think that the scalpers might end up making as much as Apple on this hyped up opening. However, once this day has passed and the fun of sitting on cement goes away, the next few weeks will help measure the true demand for the iPhone. I hope it goes well for anyone who bought into AAPL. The increase in the stock has priced in very optimistic expectations for dominating the cellular world. If there are lines two weeks from now, I’ll be convinced the hype was justified.

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