Piper increases first-day Apple iPad sales forecast to 650K
Following the iPad's first full day of sales, Wall Street analyst Gene Munster with Piper Jaffray increased his prediction to between 600,000 and 700,000 sold in the first 24 hours.
Checks with 20 Apple stores found that 19 of them still had iPads in stock at 7:30 p.m. on Saturday. Munster said that's a positive sign, because it means that Apple was able to meet initial demand for the device.
The analyst also noted that there were longer than expected lines at five Apple stores surveyed, including the iconic 5th Avenue store in New York City, where 730 people were in line at 9 a.m. Compare that to just 350 people in line for the iPhone 3GS, and 540 for the iPhone 3G.
"We estimate Apple sold between 600-700k iPads (including online pre-orders which started on March 12th) on the first day (4/3)," Munster wrote. "It took Apple three days to sell a million iPhone 3GS and iPhone 3G's, and 74 days to sell 1m original iPhones. Keep in mind, the majority of sales come on the first day of availability."
Munster had originally predicted that Apple would only be able to produce between 200,000 and 300,000 iPads for the launch weekend. He believed the company would sell through that inventory almost immediately.
Munster's latest numbers fall in line with a report from early March, in which suppliers claimed there were no production issues for the iPad and they would be able to ship between 600,000 and 700,000 at launch. That same report said Apple would be able to ship another million iPads by the end of April.
When Apple began accepting preorders, it limited the number of purchases to two per person, and also turned down volume orders for businesses. These actions fueled speculation of a tight iPad supply for the product's launch.
Checks with 20 Apple stores found that 19 of them still had iPads in stock at 7:30 p.m. on Saturday. Munster said that's a positive sign, because it means that Apple was able to meet initial demand for the device.
The analyst also noted that there were longer than expected lines at five Apple stores surveyed, including the iconic 5th Avenue store in New York City, where 730 people were in line at 9 a.m. Compare that to just 350 people in line for the iPhone 3GS, and 540 for the iPhone 3G.
"We estimate Apple sold between 600-700k iPads (including online pre-orders which started on March 12th) on the first day (4/3)," Munster wrote. "It took Apple three days to sell a million iPhone 3GS and iPhone 3G's, and 74 days to sell 1m original iPhones. Keep in mind, the majority of sales come on the first day of availability."
Munster had originally predicted that Apple would only be able to produce between 200,000 and 300,000 iPads for the launch weekend. He believed the company would sell through that inventory almost immediately.
Munster's latest numbers fall in line with a report from early March, in which suppliers claimed there were no production issues for the iPad and they would be able to ship between 600,000 and 700,000 at launch. That same report said Apple would be able to ship another million iPads by the end of April.
When Apple began accepting preorders, it limited the number of purchases to two per person, and also turned down volume orders for businesses. These actions fueled speculation of a tight iPad supply for the product's launch.
Comments
If the 3G model really is shipped before the end of the month, and Europe also comes on line, then we could hit almost 2 M by May 1.
Great opening!
Looks like we are in line to sell 1 M in first three days also - perhaps even a little more. I do hope Apple announces the milestone.
If the 3G model really is shipped before the end of the month, and Europe also comes on line, then we could hit almost 2 M by May 1.
Great opening!
Dang, I'm not selling a single unit as I don't own Apple's shares. ;( You own Apple? Good for you...
apple will selll 11 million or more this yr
school systems are placing 3ok orders right now
Looks like we are in line to sell 1 M in first three days also - perhaps even a little more. I do hope Apple announces the milestone.
"we" ?
Just left this comment with iPad. I'm telling you, websites draw faster than my MacBook. The only thing I need to get used to is not resting fingers on keyboard when typing.
Dito that. I am also commenting from an iPad right now and it is remarkably easy to type on.
I speculated the day the current keyboards came out that apple only made them as a stepping stone to begin conditioning people for typing on a flat surface, like glass, and my friends called me crazy.
You friends, who called me crazy, can now suck it.
Of course, I am quite curious as to who is seriously interested in bulk orders and how bulky they are!
It appears we
Developers are rushing to create new apps for the JooJoo platform, although one has been delayed while waiting for more RAM for his 486/66. The other developer, though, is looking for an early beta release sometime in Q3 '10.
The analyst also noted that there were longer than expected lines at five Apple stores surveyed, including the iconic 5th Avenue store in New York City, where 730 people were in line at 9 a.m. Compare that to just 350 people in line for the iPhone 3GS, and 540 for the iPhone 3G.
What I find doubly interesting about the these line numbers is the iPad requires no activation so lines would move faster and pre-order allowed units to be shipped to your home which would also reduce the iPad line.
Meanwhile the initial sales figures for the JooJoo tablet have been upgraded from 90 to 117 units sold (minus 28 returns). This sets FusionGarage on track to sell over 500 units in the first year!
Developers are rushing to create new apps for the JooJoo platform, although one has been delayed while waiting for more RAM for his 486/66. The other developer, though, is looking for an early beta release sometime in Q3 '10.
Okay, okay. That's like picking on the 'developmentally impaired'.
http://news.cnet.com/8301-13506_3-10471690-17.html
A few links to a couple of schools that will give every member of the student body and faculty an ipad...
why do these forums always fall for apple's supply constraint rumors? they're obviously put out by apple to spur lines and push forward demand. none of their major launches ever have supply constraints. you'd think by now people would catch on to the ruse..
AFAIK Apple did not comment on supply issues, one way or another. It was all of the rumor sites and the "financial experts" that were doing all of the commenting. Apple put out nothing .... big difference from what you are claiming. Think first.
why do these forums always fall for apple's supply constraint rumors? they're obviously put out by apple to spur lines and push forward demand. none of their major launches ever have supply constraints. you'd think by now people would catch on to the ruse..
ReallY? Piper Jaffray has lied about contacted stores and measuring line densities because they are employed by Apple? Do you have anything to back up such a claim?
Meanwhile the initial sales figures for the JooJoo tablet have been upgraded from 90 to 117 units sold (minus 28 returns). This sets FusionGarage on track to sell over 500 units in the first year!
Developers are rushing to create new apps for the JooJoo platform, although one has been delayed while waiting for more RAM for his 486/66. The other developer, though, is looking for an early beta release sometime in Q3 '10.
Never heard of JooJoo, but they are going to have a tough time competing. $500 gets you a 2.4lb tablet with 4 GB of storage, and 5 hours of battery life.
why do these forums always fall for apple's supply constraint rumors? they're obviously put out by apple to spur lines and push forward demand. none of their major launches ever have supply constraints. you'd think by now people would catch on to the ruse..
Why do forums give any time to "Analysts" sales numbers. Its a crap-shoot until Apple actually divulges the numbers.
Why do forums give any time to "Analysts" sales numbers. Its a crap-shoot until Apple actually divulges the numbers.
Sure, to large extent they are educated guesses -- but they are writing these evaluations for their clients, not us. It all feeds into their target price for the stock.