Monday, November 5, 2012

Apple Inc. (AAPL) Posted Strong Than Expected Sales of iPad, iPad Minis over weekend

Hurricane Sandy may have shut down New York City parts of the eastern coast of the United States, but it could not dampen the enthusiasm of customers to buy Apple Inc.(NASDAQ:AAPL)’s iPads.

During its debut weekend, which coincided with the preparations for the Hurricane, Apple said it sold 3 million units of its fourth generation iPad and its iPad Mini, which it had unveiled just a week before.

The company said that demand for the mini version of its iPad was more than it could supply.

“Demand for iPad mini exceeded the initial supply and while many of the pre-orders have been shipped to customers, some are scheduled to be shipped later this month,” California-based Apple said today in a statement.

The 7.9 inch version of Apple's tablet PC made its debut in the U.S. and about 30 other countries around the world on Nov. 2 and was immediately snapped up by customers, who had been waiting for it.

In its fiscal fourth quarter to September, Apple had sold iPads, which were lower than market expectations. This was because many customers had put off buying its older versions in anticipation of buying the new ones.

Analysts have already started making their forecasts. According to Piper Jaffray's Gene Munster, Apple could end up selling 1 to 1.5 million units of the iPad Minis in the current quarter while others said that it would need to sell at least 3 million units.

The sales came in despite Apple having to close two of its five stores in New York, while some stores in New Jersey were closed as well.

The iPad Mini costs $329 to $529 for the Wi-Fi model, and as much as $659 for models that connect to data networks.

 Shares of AAPL are showing solid buying after the data and rose 1.50% in the pre-open session, erasing 0.85% fall before the sales figure.

1 comment:

  1. How odd,,,
    Not willing to show actual mini numbers?

    did one store run out?

    not a good sign


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