Is the iPhone 5 Back on Track?
The busy holiday shopping season has arrived with some happy news for Apple (NASDAQ:AAPL) and its many fans. A survey of retail stores by Piper Jaffray analyst Gene Munster and his team has found that supply of the iPhone 5 has almost completely caught up with the booming demand.
Munster said that upon surveys of 100 Apple Stores, his team found that supply of both AT&T (NYSE:T) and Verizon (NYSE:VZ) models had seen “dramatic improvements in availability,” while Sprint (NYSE:S) units remained readily available. “As we get closer to the holiday, we believe consumers will likely have the ability to walk into an Apple Store and walk out with an iPhone 5 within the next two weeks,” Munster said.
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While AT&T models were available at 82 percent of stores and the Verizon model at 72 percent of stores, the Sprint iPhone 5 was in stock at 92 percent of Apple Stores. Earlier this week, Apple also updated its online store to show two-week shipping times for the new smartphone.
Apple struggled for a while with supply issues after the launch of the phone in September, with concerns that keener quality control at Foxconn factories was delaying manufacturing. Both AT&T and Verizon admitted to be short on supply of the iPhone 5 during their respective earnings reports for the last quarter. Last year, iPhones accounted for 53 cents of every dollar Apple earned in its December quarter, making the device incredibly important for the company as it tries to exceed Wall Street expectations after missing estimates in the last two quarters.