If you thought people who had to get their hands on the first model of the iPhone the moment they were released were a little crazy, that’s nothing compared to stock market investors.
Apple stock has increased 43% since the iPhone was announced on January 9 until its introduction last Friday – that translates to a value of 32 billion dollars.
Apple sold 525,000 iPhones this weekend, and with an average price of $549, that’s $288 million in sales.
But that’s sales only. Apple’s net income on sales last year was 10.3%, so their estimated profit on those iPhones will be $30 million.
Now, granted Apple has other products and profit centers, including computers, iPods, music sales, and battery replacement. But if those only increase at regular levels (or perhaps reduced ones, because of market saturation), Apple will need to sell 559 million more iPhones to be worth the increase in its stock.
That’s almost two iPhones for each man, woman, and child in the U.S.