Analyst: Apple iPhone 3G off to even faster start than expected

“Apple Inc. sold 1 million of its new iPhones in the first three days after the handset made its debut, more than double what some analysts anticipated, sending the stock up 3.5 percent,” Connie Guglielmo reports for Bloomberg.

“Half of Apple’s 187 U.S. retail outlets were sold out as of last night. AT&T Inc., Apple’s exclusive U.S. partner, said most of its 2,000 stores were out of supplies. Carriers in the U.K., Germany, Canada and Japan said many shops ran out of the iPhone 3G, which works with speedier third-generation wireless networks, on the first day,” Guglielmo reports.

“Piper Jaffray & Co. analyst Gene Munster estimated sales of 425,000 devices in the first three days. He had figured Apple and AT&T sold a combined 225,000 in the U.S., even after a failure in Apple’s system meant some buyers had to finish the activation at home,” Guglielmo reports. “Today, Munster said sales overseas outdid his expectations, boosting Cupertino, California-based Apple’s results. ‘International really hit it out of the park,’ Munster said today in an interview with Bloomberg Television. ‘This is definitely a faster start than we anticipated.'”

“Munster, who is based in Minneapolis and recommends buying Apple shares, said he may increase his forecast for 4.08 million iPhone sales this quarter,” Guglielmo reports.

Full article here.

25 Comments

  1. But, but, but, but . . . the latest rollout wasn’t PERFECT! How can AAPL shares be up when even ONE person had trouble activating his device (among the unprecedented million who tried)? And what about MobileMe?! Its introduction wasn’t flawless EITHER! And what about all the besotted Windows users whose dust-ridden copies of IE 6 don’t work? Won’t someone think of them? After all, if THEY’RE not happy, how can ANYONE ELSE be happy?

    Personally, I’m breaking out the hair shirts and cat-o’-nine-tails for the rest of the month. It’s going to be a self-loathing fortnight, at the very least.

  2. @Not bill

    Well, we should expect to see a sharp drop in the coming weekends. Just like movies, video games, Video game consoles, and everything else that has a fan following the initial spike at the beginning is not sustainable. Nor is it expected to be, and that’s fine. I would expect to see a hundred thousand or so a week for the remainder of the quarter. When christmas comes, that will spike up again. But iPhones are not iPods. People can’t just dump (hopefully recycle or sell to someone else) their 1 year old $500 phone that easily.

  3. Jim Cramer and Gary Krakow are going to have to work overtime to spin this one. Some initial pitches they could work off of:

    – Every iPhone sold brings Steve Jobs closer to death
    – Greenpeace says the Apps Store kills manatees
    – No keyboard
    – Represents a choking hazard for infants with REALLY WIDE mouths
    – Video games sold on app store not attractive to business users.

  4. And if AT&T;would get a few more towers up here in Nebraska, they’d have two more sold.

    When you’re smack dab in a CDMA hotbed, it really feels like you’re on the outside looking in . . . and drooling all the while.

  5. Only a million? Didnt Steve Jobs say that they would sell 10 million in 2008?
    This is a DISASTER.

    Apple should close down and give the cash back to Dell, or whoever loaned them $100 billion 10 years ago to survive.

    Some people didnt get their iPhones to work within 15 minutes.
    Apple should be sued.

    The iPhone doesnt have voice-activated calling – thats a DISASTER.

    Apple should be closed down.

    The iPhone wont last anyway – when Microsoft bring out the Zune phone, its game over.

    Apple cant make a phone – they are a computer co.

    Think of the children – the iPhone is dangerous to children if they blend it and eat it.

    DONT keep your iPhone near a blender!
    iPhones blend easier than Nokias. The FDA should ban iPhones.

    The iPhone is helping Iran to build a nuclear bomb that will destroy Philadelphia!
    Oh. Thats not a bad thing. Hmmm.

  6. I can’t wait to get mine. I was surprised that the Map app on my old EDGE iPhone has the cell triangulation circle actually moving as you drive around. That’s far more useful. I didn’t hear anything about that.

  7. As much as I want one, I’ll wait until I can cruise in and out of the Apple store. There is an Apple Store right next to my lunch spot so I can keep an eye on things. Software 2.0 and the App Store will keep me busy for a few more days…

  8. Rogers sold out now they will think they can have there way with us any time.

    It would be interesting to see how many took the new $30 for 6GB as apposed to the iPhone plans.

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