Neil Hughes
Gene Munster with Piper Jaffray issued a note to investors Tuesday, in which he upped his 2010 sales estimates from 4.3 million, citing strong early sales. 6.2 million in 2010 would add another 25 cents to his calendar year 2010 GAAP earnings per share estimates.
However, given ongoing low supplies of the iPad, Munster also cautioned investors that sales could be limited by availability. The analyst said he believes initial international sales over the weekend contributed at least another 100,000 units.
"We conducted 25 checks at Apple stores in the U.K., Germany, France, Japan and Australia, and found that supply exists after the first weekend of sales, but availability is very limited," he wrote.
Among the 14 international sales that were contacted on last Friday's launch day, 29 percent had sold out. Following the launch weekend, another 11 stores were contacted, and 36 percent were entirely sold out. Similar checks among U.S. Apple stores on May 21 found that 74 percent of stores were completely sold out.
"In other words, supply at international stores is limited and declining, similar to trends we saw at U.S. Apple stores," Munster wrote.
Apple announced on Monday that it had sold 2 million iPads in less than two months. That means Apple has sold about 34,000 per day on average, though Munster said numbers through April likely skewed lower than after launch due to limited U.S. supply. Apple reached its first million sales of the iPad in just 28 days.
Bon Adamson
Wesley Hilliard
Christine McKee
Malcolm Owen
AppleInsider Staff
Amber Neely
49 Comments
6.2 million??? Try 10 million in calendar year 2010.
6.2 million??? Try 10 million in calendar year 2010.
This is Gene Munster.
Flip flop...
If I recall correctly, his initial assessment was 2.7 million and then he raised it to 5.6 million and then he lowered it to 4.3 million and now he raised it to 6.2 million.
All this in the last couple of months. I wonder how many more flips and flops before the end of the year? I pity the investors following the calls.
Right now production seems to be the limiting factor with respect to iPad sales. 10 million would be an easy number to hit this year if they could just get the product out the door. Frankly I'm not to sure Apple was prepaired to produce 1++ million a month.
Dave
Right now production seems to be the limiting factor with respect to iPad sales. 10 million would be an easy number to hit this year if they could just get the product out the door. Frankly I'm not to sure Apple was prepaired to produce 1++ million a month.
Dave
US demand seems to be satisfied for now with some stores actually having sets available for walk-ins.
First phase of international launches seems to have gone better than expected and the second phase is a month away. I wonder if they can make that date or will it have to be pushed back for stock to build up to have a significant launch?
Another thing to note, the new iPhone is supposed to be out soon as well. Apple has been great in phasing and staggering their product launches to maximize customer attention but this year may just be the year they bit off more than they can chew. The new iPhone will be announced and launched amidst an ongoing iPad launch (internationally), the iPhone OS4 update is due out, there should be some new iPods out as well, what about the MacBook Air and Mac Pro?
This is only iPad version one albeit two varieties too! I have to think Apple have several variations in the pipe line of devices using the same interface and OS. A larger version maybe, designed to rest on a table or desk.
Talking of OS I also have to think the new iPhone OS due soon will also be an upgrade in the making for the iPad. Multi-tasking and folders plus some simple, direct printing ability perhaps.