Piper Jaffray’s Gene Munster finds long iPad 2 lines; device totally sold out, 70% to new buyers

“Gene Munster’s team at Piper Jaffray walked the iPad 2 lines in New York City and Minneapolis and interviewed 236 would-be buyers,” Philip Elmer-DeWitt reports for Fortune. “They also called various retailers (Apple stores, Target, Best Buy, etc.) looking for product.”

“Munster is sticking with his estimate of 400,000 to 500,000 iPad 2s sold, compared with 300,000 iPad 1s in its first weekend last year,” P.E.D. reports. “The difference is that nearly all those iPad 2s were sold in one day; stocks were essentially depleted by Saturday and not replenished. In its calls to retailers over the weekend, his team was unable to find a single iPad 2.”

P.E.D. reports, “70% of iPad 2 buyers were new to the iPad, compared with 23% of iPhone 4 buyers who were new to the iPhone at launch. Buyers were split almost evenly between Mac and PC users (51%/49%). By contrast, the split for the original iPad was 74%/26%.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

Related articles:
A big fat thanks to Gene ‘Don’t Expect Long iPad 2 Lines’ Munster – March 12, 2011
iPad 2 sold out at Apple, Best Buy, Target, Walmart, AT&T, Verizon retail stores – March 12, 2011
Walking the long, long Apple Store Fifth Avenue iPad 2 line; nearly 1,200 strong (with video) – March 12, 2011
Crowds line up for iPad 2 across the U.S.A. (with photos) – March 11, 2011
Piper analyst Gene Munster: Don’t expect long lines for iPad 2 – March 8, 2011


  1. Didn’t Trip Chowdry of Global Equities Research say that 40% of iPad 2 buyers were new to the platform. Now Gene Munster says that 70% are new buyers. How the hell does anyone really know unless you take a statistical sample. You plonk your money down and you walk away with the goods. Can an Apple retail assistant tell by looking at me if I’m a first time iPad 2 buyer? I think not.

    Whatever the case may be it’s a well known fact that the iPad, be it version 1 or 2, acts like a giant magnet for Apple drawing in new users from all walks of life to give Apple a spin. It’s like riding a Harley Davidson – unless you’re astride that mother, you won’t know what you’re missing.

    Enough said. Walk the talk baby. Apple is the only one that delivers that genuine taste of real tablet.

    1. Definitely agree.
      There will be huge demand for the iPad 2 fir the next 4 months given the amount of interest shown this weekend.
      I personally will be buying one for my folks back in the uk so that we can so FaceTime. They are in their 70s and have a pc with a webcam. Take them 30 minutes to get it to work every time we call.

  2. The 51/49 split suggests that most Mac users waited for the iPad 2… or that many of them were also first-time Mac customers from between April 2010 and February 2011.

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