iPhone 5 Opening Weekend Sales Top 5 Million

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Apple's new iPhone 5 officially went on sale last Friday and the company says it sold over 5 million units during the first three days of availability. That number tops the 4 million iPhone 4S units Apple sold during launch weekend last year.

"Demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible," said Apple CEO Tim Cook.

iPhone 5 sales top 5 million, but fail to meet analyst expectationsiPhone 5 sales top 5 million, but fail to meet analyst expectations

He also confirmed that Apple sold through its available inventory saying, "While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date."

That 5 million figure fell well below Piper Jaffray analyst Gene Munster's 8 million unit prediction and a million below his 6 million worst case scenario.

News of lower than expected launch weekend sales seemed to be taking a hit on Apple's stock Monday morning. After closing last Friday at US$700.09, the company's stock dropped down over $16 to $683.26 in pre-market trading.

Apple is still shipping inventory to stores, so customers will be able to get ahold of the latest iPhone model, although supplies will be limited for now. Online orders, however, are currently showing a 3 to 4 week ship wait.

Comments

James

Does the 5 million figure include pre-orders, or is 5 million how many were sold in brick-and-mortar stores? And does the figure include phones sold in AT&T, Verizon, Sprint, Walmart, Target, Best Buy & Radio Shack stores?

geoduck

[quoteThat 5 million figure fell well below Piper Jaffray analyst Gene Munster’s 8 million unit prediction and a million below his 6 million worst case scenario.

News of lower than expected launch weekend sales seemed to be taking a hit on Apple’s stock Monday morning. After closing last Friday at US$700.09, the company’s stock dropped down over $16 to $683.26 in pre-market trading.

Apple sells a million more units than the last model. Breaks all sorts of sales records. Rakes in buckets of money including a significant percentage from switchers. But the sales did not meet a arbitrary number that somebody pulled out of thin air so the stock goes down.
The market is run by imbeciles.

Jeff Gamet

Apple doesn’t say if its launch weekend sales include pre-orders or other retailers. We’ll probably have a better idea when Apple rattles off numbers during its quarterly earnings report. I’m also waiting for clarification from Apple, so maybe we’ll know even sooner.

skipaq

This is a classic example of what frequently has happened with AAPL. Analysts (experts?) put out their predictions which at times are really inflated and the stock jumps up. Next comes the sales or report news quickly followed by disappointment and the stock drops. Been watching this go on for 12 years. At times it is predictable.

These predictions and let downs are not Apple’s. They are not from the customers. They just reflect the thinking and advice of experts. Hold your stock if you are conservative about investments. If you a risk taker then don’t follow these outlandish predictions when making buy and sell decisions.

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