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 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.