iPad mini Quickly Selling Out of Launch Day Inventory
It's a headline we've come to expect within the first 24 hours of a day on which preorders begin for a new Apple product. This morning, preorders for Apple's new iPad mini commenced. And already we're hearing about the apparent buying frenzy underway.
In a development that seems to prove correct Phil Schiller's theory about the iPad mini being appropriately priced, we are hearing that Apple has already sold out of launch day inventory of the white and silver iPad mini model. As of this writing, folks ordering a black model are still being promised a November 2nd delivery.
Within hours of the start of preordering, the white and silver iPad mini had slipped to two weeks for shipping, a clear indication of launch day delivery supply running dry. Of course, we are referring just to the Wi-Fi only models as the cellular-ready iPad minis won't ship until well into November anyway.
Despite the investor optimism that some expected after a week of rousing Apple news, shares of AAPL continue to decline (down another $10 today) and trading below the $600 level for the first time in recent memory.