AT&T's financial results for Q2 have revealed the mobile phone company activated 146,000 phones in the first 2 days of the iPhone's availability in the States.

More than 40% of those activations were new customers to AT&T, the company has said.

These figures are low compared to the 200,000 to 500,000 estimates begin bandied around by analyst and experts.

As a result Apple's shares have dropped 3% and people may be revising their expectations of Apple's financial results, due tomorrow.