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.
Earlier: Fingerprint scanner hacked.
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