Apple Inc. (AAPL) Sells 3M iPads In First Weekend

Apple Inc. (AAPL) Sells 3M iPads In First Weekend

Most of Apple’s stores were characterized by winding lines during the weekend. This followed the iPad mini launch, which was also coupled with the launch of a fourth generation iPad. Apple Inc. (NASDAQ:AAPL) says that it sold 3 million iPads over the weekend, doubling numbers in its previous iPad launch earlier on in March. Although it was the first time for the iPad mini to grace the shelves of main stores, its official launch dates back to October 23rd, where Apple Inc. (NASDAQ:AAPL) introduced the device at a grand event in San Jose, California.

Apple Inc. (AAPL) Sells 3M iPads In First Weekend

Some of Apple’s stores in lower Manhattan had to shut down, because of the aftermath of Hurricane Sandy. Despite the fact that sales in the East Coast were stalled by the aftermath of the unforgiving Hurricane Sandy, demand in New York heavily outstripped supply. It is reported that Apple’s New York Fifth Avenue flagship store, which is deemed to be Apple’s largest store in the city, ran out of iPad minis. In a statement issued by Apple Inc. (NASDAQ:AAPL) CEO, Tim Cook, it was noted that the company had set a new weekend sales record that resulted in it selling out of iPad minis. Cook, however, noted that the company was working on building more iPads. “We’re working hard to build more quickly to meet the incredible demand,” he noted.

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Apple Inc. (NASDAQ:AAPL)’s continued supply constraint has bottlenecked the company’s efforts to promptly fill orders from customers. A section of analysts believe that this could ultimately affect the sales of the iPad mini. Nevertheless, Topeka analyst Brian White noted that the shortage in supply of the iPad mini would drive customers to buy the fourth generation iPad.

The iPad mini, which is notably smaller than the typical tablet, is available in 34 countries. Alternate versions of the iPad mini and the new fourth generation iPad are expected to come in the next few weeks. Both of these alternate versions are expected to have both cellular and Wi-Fi connections.

Unlike most of Apple’s product launches, the iPad mini’s official launch was not met with notable excitement. In fact, Apple Inc. (NASDAQ:AAPL)’s stock plunged on the day of the official launch, suggesting skepticism among investors and the market at large.

As the holiday season draws closer, Apple, alongside other tablet makers, expects to record huge tablet sales. Other than tablets, Apple is also banking on increased sales of the recently unveiled iPhone 5 during the holiday season.

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