The release of a new Apple Inc.(NASDAQ:AAPL)’s iPhone has become a ritual of some sort, for better or for worse. Pre-orders, queues, monitoring shipping progress, losing sleep – you name it, it happens each year when Apple rolls out a fresh model.
As a store manager has revealed, AT&T Inc.(NYSE:T) stores nationwide are shorter on iPhone 5 inventory in comparison to a similar situation two years back. According to the shop owner many people are going to face disappointment. He has also said that Apple has apparently underestimated the pre-order volume and is not sending enough stocks to vendors. He has volunteered that most of the phones that he had received are the white-colored models. He has also said that the stores usually receive shipments twice a day during the initial period. However, this year, it is not the case. There has been only one shipment per day over the next week or so.
Will AT&T Continue To Hit New Highs Next Week? Find Out Here
He has also said that there is a prominent interest among people desiring to buy the $99 4S and the free iPhone 4. Users are expecting a brisk move on that inventory.
Although no carrier has offered any figures yet, AT&T seems to have taken the cake with share of orders. AT&T had 68% of iPhone 5 pre-orders over the first three days of the release of the iPhone 5, as reported by ComScore. Verizon accounted just for a quarter of the share while Sprint nabbed only a meager 8%. AT&T seems to have the largest base of existing iPhone customers owing to its prior unique agreement with Apple.
Shares of AT & T jumped 0.37% to $38.08 and made multi year high of $38.58 earlier in the session. On the other hand shares of APPL came off session high and closed just above the $700 mark after hitting another record high of $705.07.