Apple's (AAPL) iPhone 5 Greeted With Massive Demand

September 21, 2012 7:14 AM EDT
Apple's (NASDAQ: AAPL) iPhone 5 officially goes on sale today, although pre-orders started last week.

The new phone is 18 percent thinner and 20 percent lighter than the iPhone 4S and the device boasts a number of new features, including an all glass and aluminum body, a 4-inch retina display and A6 chip, which is 2x faster. The new form factor will drive a massive upgrade cycle.

The iPhone 5 is expected to be Apple's biggest launch ever. Pre-orders in the first 24 hours topped two million and analysts expect the company to sell up to 10 million phones over the opening weekend. Lines are already developing at Apple stores around the country.

"Demand for iPhone 5 appears incredibly robust and will likely outstrip supply," analysts at Deutsche Bank said. "We believe shortages will extend well into CY13 and ongoing stock outs should support improving EPS visibility and multiple expansion at Apple. A 4-week product lead-time suggests 1/3 of the holiday quarter is already booked."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot List

Related Entities

Deutsche Bank

Add Your Comment