AT&T Reports Record iPhone 5 Preorders
AT&T Inc. (NYSE: T) claims the Apple Inc. (NASDAQ: AAPL) iPhone 5 set a presale order record, supporting news over the weekend that even Apple itself is sold out.
The news confirms a trend. Apple products are almost always sold out ahead of release. Apple is either poor at inventory control or likes to build demand by creating a scarcity that gives the products a wave of media coverage after the one triggered by the original product launch. So far, there is no similar news from Verizon Wireless or Sprint Nextel Corp. (NYSE: S), but there is bound to be today.
The iPhone 5 should meet expectations, based on these sales, if it does not exceed them.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Consumer Electronics, Retail, Wireless Tagged: AAPL, S, T