Forgive me if I'm wrong, and I skipped the second half of this thread, but channel inventory is "sold" unless there's a return guarantee from the supplier. If Apple has sold a phone to AT&T, and AT&T has no right to return it as unsold, then it is, as a fact, sold, from Apple's perspective.
What Apple cannot do is guarantee return of unsold product and declare that inventory as sold, nor can they call any phone sitting in an Apple Store as sold.
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What Apple cannot do is guarantee return of unsold product and declare that inventory as sold, nor can they call any phone sitting in an Apple Store as sold.