Errant iPhones? No Big Deal, Analyst Says

An estimated 1.4 million iPhones that have been either inventoried or clandestinely unlocked may not pose a significant threat to techno-juggernaut Apple's overall profit. The "missing" phones could force stock prices to dip, "but if you look at Apple," reassures analyst Ezra Gottheil, "It's solidly profitable without the iPhone. The iPhone just takes it up to another level."

Gottheil puts Apple's monthly iPhone revenue at $10 per phone, ComputerWorld reports. "This is a substantial revenue stream, generated at no cost to Apple," Gottheil claims. "Nevertheless, every iPhone sale brings profit to Apple." And errant phones won't stop Apple from unloading its projected 10 million phones by December, either. "There is room in the iPhone margin," Gottheil assured antsy speculators. (More Apple stories.)