Apple 2.0 puts faith in a recent note by Gene Munster claiming that the pace of iPhone sales has tripled since the price break.
By Munster's reckoning, Apple and AT&T (T) were selling an average of 9,000 iPhones a day before the price reduction, which would have put their quarterly sales at 594,000 as of Sept. 5. The two companies had already sold 270,000 phones in the previous quarter. To reach 1 million by Sept. 9, they would have had to sell 136,000 more phones, or 27,000 a day -- a 200% increase.
It should be noted that Munster and other analysts were initially extremely bullish on early iPhone sales numbers, claiming that Apple had sold upwards of 500,000 on opening weekend. Such high expectations were unfounded, as Apple announced that 270,000 had been sold.
Munster's latest claims appear to be a little more thorough, with accompanying surveys of retail stores. Munster notes that such a large surge is not sustainable, and believes sales will stabilize at a 50% increase, or 1.28 million by the end of the quarter.
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Tuesday April 30, 2024 10:44 am PDT by Joe Rossignol
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