Apple Sells 5 Million iPhone 5, Investors Concerned about Supply

By Monday, September 24, 2012 0 , , Permalink 0

In a press release, Apple while disclosing the statistics also revealed that more than 100 million iOS devices were updated to iOS 6. “ [Apple] 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” read the press release. Apple has also revealed that nearly all the iPhone 5 pre-orders have been shipped to customers; still there were many that have been pushed over to October delivery dates.

Despite strong sales, analysts are of the opinion that Cupertino hasn’t been able to produce the iPhone 5 fast enough to meet with demands. The highly anticipated launch hasn’t quite met with expectations of the Wall Street which saw investors sending Apple’s stock down by 1.4 per cent at $690.14 during mid-morning trade.

Walter Piecyk, analyst at BTIG, said, “It appears investors were disappointed with the slowdown in growth in the first weekend”, notes Reuters. Another analyst from Baird Equity Research, William Power, wrote, “We believe that sales could have potentially been much higher if not for supply constraints.”

The question of Apple not able to cope up with demands arises out of the fact that one of its key suppliers, Sharp, is struggling with delayed shipments and high costs. Further, Taiwan’s Foxconn Technology Group, the key iPhone assembler for Apple, today saw a brawl in one of its factory in China which eventually led to the shutdown of the plant. More than 2000 workers were involved in the riots notes PC World.

These and other factors such as strong Galaxy S III sales, investors are keeping a close watch on the future sales figures of the iPhone 5.