AAPL Apple iPhone 5 demand strong, focus shifts to supply chain - FBR Capital Markets (700.10 ) -Update-
FBR's checks indicate Apple's iPhone 5 product launch is being met with considerably more demand than the company is able to meet. Checks at Apple and carriers' retail outlets around the globe (nine countries launched 9/21) reported stock-outs as early as the first day of sales and as late as three days after sales started. FBR expects supply to continue to be constrained well into October as Apple plans to launch the device in 22 additional countries on September 28. FBR continues to expect that sales from the iPhone 5 will prove stronger than any previous product launch and urge investors to overweight shares of Apple into the September and December quarter reports.
SMF Notes Apple iPhone 5 first weekend sales top 5 mln, below expectations (700.10 ) -Update-
Co has sold over five million of its new iPhone 5, just three days after its launch on September 21, and more than 100 million iOS devices have been updated with iOS 6, the world's most advanced mobile operating system. iPhone 5 is available in the US, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the UK, and will be available in 22 more countries on September 28 and more than 100 countries by the end of the year. Demand for iPhone 5 exceeded the initial supply and while the majority of pre-orders have been shipped to customers, many are scheduled to be shipped in October. "While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date. We appreciate everyone's patience and are working hard to build enough iPhone 5s for everyone.