Black Friday seems like Apple's day as reports show that Apple (Nasdaq: AAPL) has sold-out almost all of their Apple products, most notably Apple's iPhone 4S.
Chris Whitmore, analyst for Deutsche Bank and his team monitored more than 200 stores last Black Friday in order to check the status of Apple products during this frantic retail event. The team checked on different Apple retail stores, AT&T, Verizon, Sprint, Best Buy, Walmart, and Target stores. According to Whitmore, 75% of Apple retail stores have sold-out its iPhone 4S by the end of Black Friday. By Saturday, most Apple stores have already restocked its iPhone 4S and only 30% remained sold out by the next day. In AT&T stores, 50% were already sold out over the weekend while Verizon and Sprint had enough supply to keep up with the demand of iPhone 4S.
In terms of iPad sold, Gene Munster with Piper Jaffray conducted a poll in Apple retail stores in oder to determine the number of iPad sold last Black Friday. Based on their findings, iPad sales per hour were 68% higher as compared to the iPad units sold last year. An average of 14.8 iPads are sold every hour which is also an upgrade from last year's statistics of 8.8 iPads sold every hour during Black Friday. Mac sales were also included in his report and Munster stated that there is an average of 10.1 Mac sales per hour which is also 23% higher if compared to last year's Black Friday sales. Munster also projected that by the end of this quarter, a total of 13.5 million iPad units would be sold while Mac sales could reach up to 5.2 million units.
Apple lowered the price of iPad by US$40 and offered free shipping for online orders until Dec. 22, 2011. Black Friday is usually the time where Apple offers discounts and promotions to their customers which prompted people to flock to Apple retail stores. Despite reports stating that Amazon Kindle Fire and Blackberry PlayBook taking over tablet sales, Apple remains to be on top of the iPad market. Trip Chowdhry, senior analyst for Global Equities Research gave a probable reason for Apple's dominance stating that "The iPad isn't a compromise device. Something like the Fire is compromising. It's small, it's an e-reader, you can't play games, you can't connect to location-based services, really it provides one tenth of the functionality."
About International Business Times
The International Business Times is composed of twelve high-growth online editions (ibtimes.com) that give readers local reports balanced with multinational perspectives. Exclusive and transparent insights from global markets make The International Business Times an indispensable news source for business-minded individuals.