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Just 24 hours after word of AT&T's disappointing iPhone activation figures - news which sunk Apple shares about 6 percent, Jobs announced last night that Apple's third-quarter profits are up 73 percent. In the markets this morning, Apple shot up more than 8 percent on that news.

I was curious as to what caused the minor Apple sell off yesterday, seeing as the company in question is a consistent winner. To me, that would be the equivalent of damning A-Rod to mediocrity after a strikeout, or comparing Peyton to Jim Everett following a loss. In the grand scheme of things, the all-stars - in sports and markets - are who they are because of their consistent success over a long stretch. Apple fits that mold.

There are plenty of reasons why AT&T's figures failed to meet such enormous expectations - secondary sellers, the service provider's lag in its opening weekend, etc. Perhaps yesterday's Apple sellers saw something I didn't, but their decision to pull back on the reigns did little in avoiding the Wall of Worry. I'd be curious to know how many of those sellers are back in the saddle with a lesson learned.

Today, we again point out Apple's enormous expectations for the iPhone in its opening weekend- a goal to sell somewhere between 300,000 to as many as 700,000. The official number of units sold is pinned at 270,000, not what Apple hoped for but still quite phenomenal considering said figure accounts for two days worth of sales. Apple may have missed their target, but you won't find me refering to the iPhone as a failure.

I'll reiterate from past articles: I'm no expert. However, if I took on the noble task of running my own investments, selling shares of AAPL would be right up there in things to do along with eating glass, getting a Slayer tattoo on my eyeballs or buying a Nickelback album. Likewise, I'm not one for forecasting, but I'll stick my neck out just this once: The iPhone will sell a lot of units. Ambiguous? Absolutely. All the more to cover my collective ass pending an unforeseen managerial meltdown.

So, in short, yes, iPhones are a good investment. What Apple product isn't?

Learn more about this author, Lou Dipietro.
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