I purchased the iPhone 3G 16 gigabyte model this Friday. The AT&T store was amazingly unprepared for the crowds. The Apple Store and the AT&T store had a policy of only letting a small group of people into the store at a time. Then both only stocked a limited amount of iPhone 3G models.
On top of all of these well documented problems logistical problems, the issues that are not talked about on the street is the software doesn't work. After my iPhone locked up at least 25 to 40 times (this is not an exaggeration) it finally presented me with the now famous "Black Screen of Death".
The casing after 48 hours is already showing cracks. It is unbelievable how this new iPhone 3G has set up Apple to fall violently on its face. They may sell 10 million iPhones but I guarantee that the price of the stock will be eventually be affected by the returns.
Long term this is going to impact the brand. Apple was known as the flawless alternative. I have heard a lot of talk in the coffee shops and in the malls of people employing the Microsoft, "wait until they work out the bugs" approach.
Apple may jump up to $200 a share (and with the upcoming unannounced release of the new Mac Book Pro in 3rd or 4th quarter of this year it is all but guaranteed) but Apple stock will eventually plummet sometime around this same time. With Steve Jobs health in great question, Apple release defective products, and its brand being harmed I would say ride it cautiously in the short term and sell sell sell this one time great stock in the long term.
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