In my previous post “Why I Believe Sprint Trades 10-20% Higher in The Near Future,” I explained my beliefs on Sprint (S) trading higher. At the time, it was only a few days until Apple was to release the new iPhone 5. I speculated that the stock was due to trade higher because Sprint was going to officially announce that it will carry the great iPhone. Well, it turns out it did trade higher but first it would trade lower, much lower.
Sprint did release it was going to carry the iPhone. However, it was the iPhone 4s not the highly anticipated iPhone 5. It was (at first) underwhelming and forgettable when the iPhone 4s was released. Just yesterday news hit that the iPhone 4s broke records with pre orders hitting a million in 24 hours. Yes, this was one of the most successful pre-orders for an Apple (AAPL) product.
