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
Read Full Story

Markets

DJIA 24,282.43 216.84 0.90%
NASDAQ 7,051.34 27.51 0.39%
NIKKEI 225 20,442.75 -112.54 -0.55%
DAX 10,931.24 39.45 0.36%
HANG SENG 26,902.10 71.81 0.27%
USD (per EUR) 1.14 0.00 -0.15%
JPY (per USD) 109.03 0.39 0.36%
GBP (per USD) 1.29 0.00 0.02%
USD (per CHF) 0.99 0.00 0.30%