Wall Street impressed by strong start for Apple's new iPads
Following the announcement that 3 million units were sold over the launch weekend for the iPad mini and fourth-generation iPad, market watchers reacted positively and said the numbers exceeded their expectations.
Gene Munster of Piper Jaffray predicted last week that Apple would sell as many as 1.5 million iPad mini units in its first three days. Apple doesn't disclose sales figures for individual models of its products, so it's unknown how many of the 3 million total the iPad mini accounted for, but Munster believes it was probably between 2 million and 2.5 million.
"The basis for this estimate is that in our line surveys, roughly nine out of every 10 customers (were) waiting to purchase an iPad mini rather than a full-sized iPad," Munster wrote in a note to investors on Monday.
He expects that Apple will sell a total of 25 million iPads in the current December quarter, with 5 million of those being the new 7.9-inch iPad mini.
Mark Moskowitz of J.P. Morgan called Apple's 3 million sales a "significant milepost," as the company only offered Wi-Fi models of its new iPads at launch. In comparison, the third-generation iPad reached 3 million sales in its first weekend, but both cellular-capable and Wi-Fi-only models were available at launch.
"Apple's iPad mini could set the stage for the iPad product set to carry the growth baton into the future, particularly as iPhone growth momentum moderates," Moskowitz said.
In particular, he sees the PC market potentially being hurt by the iPad mini and its $329 starting price. He believes price-sensitive customers will gravitate toward the iPad mini instead of making a PC purchase.
Maynard Um with Wells Fargo Security also believes most of the 3 million iPads sold over the weekend were the iPad mini. He said he remains comfortable with projected total iPad sales of 20.2 million for the December quarter, with demand expected to outstrip supply over the holiday shopping season.
Finally, Brian White of Topeka Capital Markets believes Apple would have sold many more than 3 million iPads over the launch weekend if the company had better supply of the iPad mini. He had originally forecast that the iPad mini would sell between 800,000 and a million units in its first three days, but he now believes the 7.9-inch tablet exceeded those expectations.
For the holiday quarter, he expects Apple will sell 7 million iPad mini units, pushing total iPad sales to 26 million. For the company's fiscal year 2013, he has called for sales of 30 million iPad minis and 99.5 million total iPads, growing to 48 million iPad minis and 138.5 million total iPads in 2014.
"Eventually, we believe the iPad mini has the opportunity to surpass sales of the regular sized iPads over the next several years," he said.
Gene Munster of Piper Jaffray predicted last week that Apple would sell as many as 1.5 million iPad mini units in its first three days. Apple doesn't disclose sales figures for individual models of its products, so it's unknown how many of the 3 million total the iPad mini accounted for, but Munster believes it was probably between 2 million and 2.5 million.
"The basis for this estimate is that in our line surveys, roughly nine out of every 10 customers (were) waiting to purchase an iPad mini rather than a full-sized iPad," Munster wrote in a note to investors on Monday.
He expects that Apple will sell a total of 25 million iPads in the current December quarter, with 5 million of those being the new 7.9-inch iPad mini.
Mark Moskowitz of J.P. Morgan called Apple's 3 million sales a "significant milepost," as the company only offered Wi-Fi models of its new iPads at launch. In comparison, the third-generation iPad reached 3 million sales in its first weekend, but both cellular-capable and Wi-Fi-only models were available at launch.
"Apple's iPad mini could set the stage for the iPad product set to carry the growth baton into the future, particularly as iPhone growth momentum moderates," Moskowitz said.
In particular, he sees the PC market potentially being hurt by the iPad mini and its $329 starting price. He believes price-sensitive customers will gravitate toward the iPad mini instead of making a PC purchase.
Maynard Um with Wells Fargo Security also believes most of the 3 million iPads sold over the weekend were the iPad mini. He said he remains comfortable with projected total iPad sales of 20.2 million for the December quarter, with demand expected to outstrip supply over the holiday shopping season.
Finally, Brian White of Topeka Capital Markets believes Apple would have sold many more than 3 million iPads over the launch weekend if the company had better supply of the iPad mini. He had originally forecast that the iPad mini would sell between 800,000 and a million units in its first three days, but he now believes the 7.9-inch tablet exceeded those expectations.
For the holiday quarter, he expects Apple will sell 7 million iPad mini units, pushing total iPad sales to 26 million. For the company's fiscal year 2013, he has called for sales of 30 million iPad minis and 99.5 million total iPads, growing to 48 million iPad minis and 138.5 million total iPads in 2014.
"Eventually, we believe the iPad mini has the opportunity to surpass sales of the regular sized iPads over the next several years," he said.
Comments
Wall Street impressed by… …Apple…
The Mayans were right. It's over. We're doomed.
I have only one thing to say - F***k Wall Street.
Quote:
Originally Posted by AppleInsider
Following the announcement that 3 million units were sold over the launch weekend for the iPad mini and fourth-generation iPad, market watchers reacted positively and said the numbers exceeded their expectations.
Not positively enough. I'm still down about $80 per share from when I bought only a few weeks ago.
edit: uh-oh, fanboi alert.
NOW they're impressed?
Weren't they decrying Apple's strategy like, last week?
Now all they need to do is maintain supplies for holiday shopping.
Most of those guys are just manipulating for their own benefit. They don't have a clue to the Market or Apple. Anybody with any sense should have realized two things with the Minis release. One was that they would sell them by the boatload and two that this release can best be described as a proof of concept model. Next years release should deliver a better screen and processor to build on this years market acceptance.
Yep. Now that they talked own the price they need to make some money. So yeah Apple
Quote:
Originally Posted by logandigges
NINE OUT OF TEN?! Did they only ask soccer moms who want to look 'cool', but are worried about money...?
No they included trolls and Apple haters in their survey too.
These analysts, for the most part, are such clowns, such as Brian White at Topeka - "For the holiday quarter, he expects Apple will sell 7 million iPad mini units..." He must be really bad at math. They already sold about 3M the first week of November, and in just 3 days, which leaves two months left in the busiest shopping time of the year. So only 4M more???? Seriously, these fools need to be bounced out of their jobs. They have been suppressing the stock while their big clients prepare to load up once again for the big ride up. Apple can't make their products fast enough, continue to have record sales and revenue, and the stock goes down? And with a PE of 13, while Amazon, a darling of wall street who doesn't seem to know how to make money but sure knows how to spend its shareholders money, has a PE of an amazing 2,790. Yes, that's right - 2,790!!!!!!!!! And with earnings per share of .08 - that's point zero eight. With Apple at $41.04 EPS.
There is a total lack of rationality going on.... as Apple continues to be the most manipulated stock on the market.
Quote:
Originally Posted by HarleyLowSpeed
How about that strong start for Surface, Windows 8? Just kidding...
I heard they sold dozens and dozens, but had most returned when the buyers found out the Surface RT doesn't run regular Windows 8 software and the MS Office given away with the Surface was some kind of crippled and bug infested beta version.
No wonder Microsoft won't ship a iOS version of MS Office until Spring, they'd been better off not throwing this beta dog out on the street before Winter.
Quote:
Originally Posted by Kolchak
Not positively enough. I'm still down about $80 per share from when I bought only a few weeks ago.
Sell now and let it go back up a while. Trust me, I'm an analyst.