Apple Statement: 5 Million iPhone 5's sold in first weekend!
Apple just released a statement that they sold 5 million iPhone 5s in the first weekend. That's only 1 million more than the 4s in its first weekend. Analysts, like Gene Munster, thought Apple would sell 8million (6million being a worst case scenario).
While any company would love to sell 5million of anything in a weekend, Apple isn't just any company and analysts will see this as a fail. The stock has dropped 16points (almost 2%) in after hours trading.
What do we make of these numbers? It seems low to me, not a blockbuster. I was expecting an 8-10million blowout with all the demand from iPhone 4 holdouts.