Apple’s Record-Breaking iPhone Numbers Shatter Expectations
Apple (NASDAQ:AAPL) blew most analysts’ expectations out of the water today when it revealed that it sold a record-breaking nine million iPhone 5S and iPhone 5C models over the launch weekend. Although Apple didn’t break down the sales by model, it noted that, “Demand for iPhone 5S has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.”
This year’s iPhone sales numbers shatter last year’s numbers when Apple sold five million iPhone 5 models in three days. However, it should be noted that this year was the first time that Apple launched two iPhone models simultaneously. This was also the first time that China was included in the initial iPhone launch weekend.
“This is our best iPhone launch yet — more than nine million new iPhones sold — a new record for first weekend sales,” said Apple CEO Tim Cook via a press release. “The demand for the new iPhones has been incredible, and while we’ve sold out of our initial supply of iPhone 5S, stores continue to receive new iPhone shipments regularly. We appreciate everyone’s patience and are working hard to build enough new iPhones for everyone.”
Many analysts had predicted much lower sales numbers for Apple’s iPhone launch weekend. For example, BMO Capital Markets analyst Keith Bachman predicted that Apple would sell less than 6 million units over the weekend. Piper Jaffray’s Gene Munster offered an even more conservative estimate of 5.5 million units. Cantor Fitzgerald analyst Brian White believed that Apple would break previous sales records, but even his optimistic weekend sales prediction topped out at 6.5 million units.
Besides revealing surprisingly high iPhone sales numbers, Apple also noted that iOS 7 became the “fastest software upgrade in history” after being downloaded on over 200 million iOS-powered devices since being released on September 18. According to the latest data from mobile analytics platform Mixpanel, iOS 7 has already been adopted by 54.80 percent of iOS device users.
Here’s how Apple has traded over the past five trading sessions.
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