Analyst: iPad 2 Already Sold Out

| Apple Stock Watch

Apple began selling its new iPad 2 at 5PM on Friday, March 11, and by Saturday it appears the company’s entire inventory of the multimedia tablet was already sold out. Every retailer Piper Jaffray analyst Gene Munster checked with over the weekend was out of stock, and he estimates between 400,000 and 500,000 units were sold, according to Fortune.

“We believe this shows Apple is expanding its base of iPad users, which is critical to maintaining its early lead in the growing tablet market,” Mr. Munster said. “As the user base grows Apple’s lead widens, and the company has a proven track record of building unmatched brand loyalty, which we believe will be a potent combination as the tablet market evolves.”

iPad 2Apple’s iPad 2: Good luck getting one

About half of the iPad 2 buying crowd were PC owners (49 percent), based on interviews Mr. Munster and his team conducted at Apple Stores in New York City and Minneapolis. In comparison, about 26 percent of the original iPad launch weekend buyers owned PCs.

The number of first time buyers was fairly high at 70 percent, and some 17 percent of iPad 2 buyers said they plan to use third-party apps and games on their device. During the original iPad launch only 9 percent of buyers said they planned to use third-party apps.

Nearly half (47 percent) of the opening weekend customers were buying 3G-capable iPad models, and 65 percent already owned an iPhone.

Shoppers hoping to avoid long waits in stores for iPads won’t have any better luck ordering online. Apple’s Web-based store showed a three week wait time only hours after opening up for iPad 2 sales early Friday morning, and that shipping delay had crept up four weeks by Monday morning.

Apple introduced the iPad 2 at a special media event earlier this month. The device includes a 9.7-inch display, front and rear-facing digital cameras, a dual-core 1GHz A5 processor, faster graphics, a built-in gyroscope, built-in Wi-Fi wireless network support, support for GSM and CDMA 3G wireless data networks, and is thinner than the original iPad.

Apple is currently trading in the pre-market at US$352.40, up 0.41 (0.14%).

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Comments

Lee Dronick

Any word on where most of them were bought? Apple Store, Best Buy, AT&T or where ever?

I bought my iPad 2 in the Marine Corp Exchange.

Bill Patrick

What is the breakdown on CDMA vrs GSM?

Skywalker

The next question will be the total sales volumes in 9 months this year. I predict over 60 millions this year.  May be more than that…

RonMacGuy

I predict over 60 millions this year.  May be more than that?

I just don’t see how Apple can build that many.  Sure they are ramping up production (from probably 1M monthly mid-2010 to maybe 2M-3M monthly now), but 60 million this year implies build capability of over 6M monthly for the rest of 2011 with enough parts available to supply.  Given how quickly they are already out of stock now, I don’t see them capable of supporting 6M monthly for a long time.

I almost ventured out this weekend to track one down and sell on eBay, but decided against it.  An easy way to may an extra hundred or two, but too many profit seekers out there already.  I love my Gen 1 iPad and now that i have an iPhone on Verizon my wife uses my iPad now more than I do, but I think I will wait for Gen 3 at this stage.

I wonder when FaceTime will work on 3G on either Verizon or AT&T.  So little is being said about it, but this would make a huge difference for people.

mhikl

Can’t seem to find anything but guesses on how many eXooms were sold its a) first day of release, b) its first week of release, c) total release to date. Some guesses in a pole, but that’s all.

A Home “mmmmmm”.

What might all this mean? Maybe stupid Al can come back and let us know?

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