iPhone 4S Sells Out Daily at 85% of Apple Retail Stores
It's a remarkable statistic that speaks to the runaway popularity of the iPhone 4S.
Thanks to an insightful new research note from Chris Whitmore of Deutsche Bank, a new poll of retail stores reveals that Apple is seeing almost daily iPhone 4S inventory outages at some 85% of all the company's retail outlets. The actual percentage, however, may really be closer to 90%.
"Our retail checks reveal Apple is experiencing daily stock outs at ~85-90% of the ~30 retail stores we called. Apple employees are directing customers to make an online appointment (first come first serve) for next day pick up at nearby Apple retail stores as stocks appear to be refreshed daily at most locations," Whitmore said. As of this writing, Apple maintains that there us still a waiting time of at least one week (possibly two weeks) for new iPhone 4S orders.
Given the stellar sales success Apple has enjoyed thus far with its new iPhone, Whitmore is maintaining a 28-million unit forecast for the current quarter’s total iPhone sales. Consequently, although Apple failed to beat the street in October, the next earnings report may very well be Apple's strongest. If so, the iPhone 4S will be directly responsible.
Whitmore similarly retains a pretty hefty "buy" rating on shares of Apple (AAPL) and a $530 price target, which is well over $100 from Apple's current share price.