Todd Sullivan, investment adviser, wrong about the iPhone
A co-founder of Rand Strategic Partners, Sullivan on May 15, 2007, authored a column on Seeking Alpha with the headline: "The iPhone: Apple's First Flop." It starts this way:
"Apple (AAPL) begins selling its revolutionary iPhone this summer and it will mark the end of the string of hits for the company.
"The company has had a string of hits since it introduced the iPod and its shareholders have benefited sending shares from $7 in 2003 to the $100 they sit at today. The introduction of the iPhone will be the first miscue for the company and send its shares, priced for perfection tumbling. 'Why?' -- you ask."