iPhone 5′s longer lines point to 8 million sales this weekend: analyst
Piper Jaffray analyst Gene Munster is out today with some good old boots on the ground research, and he says the lines at Apple Inc. AAPL +0.82% retail stores he team has checked indicate that the lines are 83% longer than last year's iPhone 4s launch.
His calculations indicate that puts Apple on track to sell about 8 million iPhone 5s this weekend.
Here's some of what Munster had to say.
We have counted iPhone launch day lines at every launch since the iPhone 3G in 2008. We
believe that based on our count of 775 customers in line for the iPhone 5 at the flagship
5th Avenue store, demand for the iPhone 5 is higher than any previous launch. We
believe the line for the iPhone 5 was 70% greater than the line for the iPhone 4S despite
Apple taking 2x as many online pre-orders. The trend of Apple product lines at the
flagship store had been decreasing, we believe, due to the company taking a greater
number of online pre-orders. For the three total stores we observed with Y/Y comps,
the average line was 83% longer. Given the strength of the line for the iPhone 5, we are
incrementally more confident in Apple's ability to sell 8 million phones in the launch
weekend.
Here's his chart
– Greg Morcroft
Sent from my iPhone
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