Is Gene Munster mad about Apple Inc. (NASDAQ:AAPL)? The Piper Jaffray analyst is known by some as the Apple oracle, and his estimates often move the markets. So how does he come up with his estimates and why are they so market moving? Bloomberg TV followed him on iPhone launch day and chronicled how he gathered his data.
Munster starts at 6 a.m.
The analyst starts around 6 a.m., checking lines at Apple Inc. (NASDAQ:AAPL)’s stores and speaking with employees and fans. Throughout the course of the entire day, he continues to check lines and speaks with more people while going in and out of his office. Interestingly enough, he spends a lot of time on the street, which says a lot about his methods and how they compare to those of analysts who sit behind a desk with a phone and some numbers all day.
He compares his method to opening weekend of a movie where they’re trying to determine what sales will be like.
Munster’s first note released at 9 a.m.
By 9 a.m., Munster has prepared his very first research note on Apple Inc. (NASDAQ:AAPL)’s launch date after doing his own line checks and comparing them with checks from a variety of stores. Two hours later, he goes back to Apple Inc. (NASDAQ:AAPL) to check up on things yet again. He found signs that the line was refilling itself, which indicated to him that sales at the stores he checked were going well. Then a security guard told him that managers said they would cut him by about 3 p.m., which suggested that the store might sell out of all of its iPhones by that time.
Munster gets on the phone
At noon, he starts calling around the country to see how Apple lines are going at other stores in places other than New York where Piper Jaffray’s offices are. He noted consistent enthusiasm and explained why he likes Apple Inc. (NASDAQ:AAPL) so much:
“As long as Apple keeps creating products that people want to have, then this enthusiasm is going to continue.”
It’s clear from the video that Munster likes his job and enjoys following Apple. It’s really a great video worth the time to watch it.