Wall Street Nervously Watching Apple Stores on Friday
As the new iPhone 5S and iPhone 5C arrive at Apple stores today, shares of AAPL are trading without much upward or downward movement. Investors are clearly waiting to see how well the company’s new iPhones perform in opening weekend sales before deciding to dump or scoop up more shares.
For the time being, the only details we’re gleaning from Apple Store locations is that which we largely expected. Supplies of the iPhone 5S are incredibly limited.
Nonetheless, Piper Jaffray analyst Gene Munster thinks Apple could sell 5 to 6 million combined unit sales this weekend.
KGI analyst Ming-Chi Kuo is more optimistic, suggesting that as many as 8 million units may be sold.
Of course, another more disappointing scenario could play out.
“Positive reviews and very good functionality for the two new iPhones and iOS 7 will help in the long-run but if Apple can’t make enough to have units in stores or be available on Internet sites to be shipped in the first few days it would not surprise me to see the company announce on Monday sales below last years 5 million plus for the iPhone 5 and come in around 3 to 4 million,” says Chuck Jones of Forbes.
What do you expect for opening weekend sales of Apple’s iPhone 5C and iPhone 5S?
