Industry News Desk
Apple May Sell 1M New IPads on Day One
Company Says It's Already Sold Out is Pre-Order
By: Maureen O'Gara
Mar. 12, 2012 06:16 PM
Apple stock is at an all-time high pushed to its relatively dizzying height of $552 a share Monday by Wall Street's supposition that it'll sell more than a million iPads when the new widget hits the street Friday.
The speculation is egged on by the fact that Apple said early on that it's sold out of the inventory meant to fill pre-orders by the 16th. Pre-order started last Wednesday, the day the dingus was announced.
"Demand is off the charts," it's telling anybody who asks. As a result it's pushed back the shipping dates for incoming pre-orders two-three weeks and lines at the stores Friday are expected to be a worldwide feeding frenzy photo op. Early pre-orders are supposed to arrive at their destinations Friday.
It's possible that millions of pre-orders continued to pile up over the weekend as Barclays Capital's Ben Reitzes suggests.
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