- Weekend sales of the iPhone were probably close to the bottom of the 5M-6M range he expected, says Piper's Gene Munster. About 95% of those waiting in line were there for the 5S, says Munster, with about 90% upgrading from an older version (83% were upgrading when the 5 was launched, 73% for the 4).
- At least one analyst had expected weekend sales of 7.75M, according to Bloomberg.
- BMO's Keith Bachman hit the malls to find longer lines than last year's iPhone 5 launch, but writes this off as having to do with no pre-orders for the 5S. 5C sales look like a disappointment even to his already-muted expectations for that unit. The gold 5S is a hit, but little supply exists, with one visited store running out in the first 30 minutes.
- The iPhone 5 sold 6M units over its first 10 days last year - a number Bachman doesn't think Apple will be able to match with this year's launch thanks to the lack of enthusiasm for the 5C and fewer selling days until a press release. He sees downside risk to his September quarter estimate of 31M units sold.
- Earlier: Fingerprint scanner hacked.
- AAPL -0.6% premarket.
Weekend action sobers up analysts' view of iPhone sales
Sep 23 2013, 07:57 ET