Apple Conference Call: Still "Calling" for 10 Million iPhone Sales

Apple's conference call continues at this hour with the company's Chief Financial Officer Peter Oppenheimer re-iterating the company's projections to sell 10 million iPhones, despite the perceived slow start the product has suffered.

Further, the company's shares opened to enormous volatility after being halted just moments before the earnings release hit the tape. They are now firmly in the green as it appears investors are focusing on the blockbuster Mac unit sales number (1.76 million instead of the 1.6 million expected by analysts) and the robust gross margins the company reported: 36% instead of the 33% anticipated.

Snap analysis: Apple investors have taken this dose of reality about iPhone sales, and focused instead on the catalysts that will juice these shares until iPhone's momentum catches up with the euphoria. Mac, iPod and margins. And if you're an investor focused on that, you're an investor who appears to be handsomely rewarded.

Shares in after-market, on extremely heavy volume, have completely erased the plunge Apple shares suffered yesterday on the AT&T activations news.

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