Apple’s Launch of iPhone 5 Doubles Previous Record Sales (Bloomberg)
Well, now we know why Apple didn’t want to disclose pre-orders of its latest iPhone model. It’s because management knew that the initial demand for its new product was about to blow through analysts’ estimates. By keeping that number close to the vest, Apple could forestall any backlash for not having enough units to satisfy demand, while at the same time leveraging this new, record number of phones sold. Initial estimates ranged from 6 – 7.5 million units to be sold over the first weekend, which proved to be anywhere from 25 – 50 percent lower than the 9 million units sold over the past weekend. Investors in Apple can now sit back and see just how much this successful launch will strength share price.