Apple's iPhone is a commercial success but if the magnitude of that success escapes you, here's a little hint: It has set a new record for AT&T sales by selling more phones than the Motorola RAZR did in a month.

In addition to this, the demand for the iPhone doesn't seem to be slowing down with iPhones going on eBay from US$ 705 to a whopping US$ 12,500.

Throughout all this, Apple has been making a killing. Industry researcher ISuppli Corp. declared that Apple is selling the iPhone for more than double its manufacturing costs. Thus they have profit margins of over 55 percent, excluding logistics and royalties.

That's just an insane amount of money moving into the company, and it shows. As a testament to that, Apple shares soared by US$ 5.91 to US$ 127.17 or 4.9 percent in NASDAQ Stock Market trading.

However, it should also be noted that AT&T shares dropped by US$ 35 cents, which is rather peculiar considering AT&T has sold out of the phone in almost all its 1,800 stores. It may have something to do with the EDGE network crashing for a short time, but this has not been confirmed by any of our financial analysts.

So it looks like the iPhone is off to a good start, it should be noted that Apple isn't expecting to be making a large profit now but expects it to come over a span of two years. Is this a sign of things to come? If you'd care to read more on this, click on our read link.

We're not one to pull the Apple fan's leg here, so we're just going to go out on a limb and say that we're kind of skeptical about this leakage. While the document itself actually highlights very interesting features of a possible phone, the name Apple Computer, Inc. hasn't been used for quite a while. Apple goes by Apple, Inc. now, as registered in NASDAQ (NASDAQ key: AAPL).

But in credibility of the document, there are a lot of interesting things that can be derived. First and foremost is the name Aloha OS X, which this document illustrates the architecture of. "Aloha" is a trademark by Apple in Hong Kong that has links to the iPhone that is under development. Let's get the other details from what we could derive from this so-called "confidential document" from "Apple Computer, Inc.":

• WebKit Module, Apple80211: surf, chat, e-mail features seems to be covered here
• Sync Services, Core Audio: music playing capabilities and music file syncing
• Core Video, Codecs: video playing capabilities, probable video recording capabilities
• GamesEmulator.app, OpenGL, GPU: if it's OpenGL 1.2, then games played on this puppy phone are "hawt"
• Onyx: "OMG" doesn't even begin to cover this part; next-gen mobile and VoIP services soon to come

The most interesting points are the GPU and the integration of Synaptics' next-generation mobile phone concept, called Onyx (not OnyX, although we could be mistaken and "Onyx" is a typo). These both highlight that the "device" is being ambitiously developed for the new age of telecommunications and mobile lifestyles.

But whether these features will actually make it to the iPhone by June 11 remains a mystery until the next official announcement. You could say that the document could be representing the Apple's iPhone after all. Imagine if Sony gets their hands on this document...

In the Business section of Times Online, it was reported that Apple has given warning that it could be removed from the highly-regarded NASDAQ Global Select Market, as the Cupertino-based company acknowledged for the first time that it was the subject of a federal investigation into its stock option practices.

According to the Times, Apple said that the investigation by the US Securities and Exchange Commission (SEC) could lead to further restatements and delays to its financial reporting. The company revealed "irregularities" last June in its stock option grants and took an US$ 84 million (£43 million) charge six months later.

The company also noted that the investigation could "subject the company to a potential delisting from the NASDAQ Global Select Market". This could cause a decrease in the level of confidence investors have in Apple as well as a loss of respectability.

Nasdaq sent a letter to Apple: you may be kicked out of Nasdaq. This would be very harmful for Apple's finances because Nasdaq is the stock market that lists more companies and trades more shares per day than any other market in the USA.

Why is Nasdaq threatening to ax Apple? Nasdaq requires the quarterly profit report (or 10-Q); if you don't file your 10-Q, then it's goodbye stock listing.

But Apple announced that it would delay filing its 10-Q because its outside legal counsel is not yet done investigating what may be irregularities in the company's accounting of stock options for employees. This investigation was announced by Apple back in June 29. They will, of course, be reporting their findings to the United States Security and Exchange Commission (SEC, the US government body that watches over such things).

And the SEC has been busy investigating people over stock options for employees (basically like what's happening with the SEC investigating THQ for its options grants).

Several other companies are under investigation, and some of their executives have even been indicted for options-related fraud.