Apple sold out of iPad minis at its Fifth avenue store in Manhattan after just about two hours of sales, according to Topeka Capital's Brian White.
There have been pretty small lines for the iPad mini elsewhere around the world, so we're not sure if this is going to be indicative of overall sales or not.
Here are two key points from White's note:
- In Just Over 2 Hours, the Black & Slate iPad mini Sell Out. As of 11:40 AM ET, both the 16GB and 32GB Black & Slate iPad mini models were sold out at the Fifth Avenue NYC store; while we estimate the 64GB iPad mini sold out at around 12:10 PM ET. This sell out is driving customers to buy the fourth generation iPad that also went on sale this morning. We also noticed that supply of the iPhone 5 is looking better with availability today for walk-in customers at the Fifth Avenue store.
- Demand for iPad mini to Overwhelm Supply This Weekend. Based on our recent Technology Tour in Asia, we have indicated that we expect iPad mini supply to fall well short of demand this weekend given the complexity of certain components. We are projecting Apple to sell 800,000 to 1 million 7.9-inch Wi-Fi iPad minis over the first three days (i.e., Friday through Sunday); however, demand will prove to be much greater than the sales that Apple will be able to recognize during this period. For FY13, we are projecting Apple will sell 30 million iPad minis and we estimate 48 million in FY14.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
