Market Overview

How iPhone 11 Launch Day Enthusiasm Compares At These Apple Stores

How iPhone 11 Launch Day Enthusiasm Compares At These Apple Stores

The first-day enthusiasm when the iPhone 11 series went on sale Friday at Apple Inc. (NASDAQ: AAPL)’s Apple Stores was stronger than expected, with long lines and interest in premium models.

The venture capital firm Loup Ventures, founded by former Apple analyst Gene Munster, surveyed the lines of people who showed up at Apple's Fifth Avenue store in New York and five Apple Stores in the Minneapolis area, and said it found longer-than-expected lines and strong interest in the new phones throughout the day.

The line at the New York store was nearly 90% longer than it was when the iPhone XS and XR went on sale last year, Loup Ventures said.

Lines at the Minneapolis stores were, on average, about 20% larger than last year’s combined launches of the two 2018 phones.


Chart courtesy of Loup Venutes.

Buying Pros

About eight out of 10 customers were buying an iPhone 11 Pro or Pro Max — two higher-end, more expensive models with an added camera, and more battery life.

“This is a sign that the new camera system and battery appear to be enough of an upgrade to keep loyal Apple fans engaged,” Loup Ventures said in a blog post.

Loup Ventures said its line count for customers waiting for the new iPhone 11s was about the same as for the iPhone X in 2017 at the New York store.

The line was longer than it was for the iPhone 7 and 8 releases in 2016 and 2017, though not as long as for the iPhone 6 and iPhone 6 Plus in 2014, or the iPhone 5S and 5C in 2013, according to Loup.

The Mall of America Apple Store in Minneapolis had its fourth-longest line for a new iPhone since Loup Ventures started tracking lines at the store in 2013, and its best since the iPhone X rollout in 2017.

Price Action

Apple shares were trading up 0.85% at $219.59 at time of publication Monday.

Related Links:

Apple Shows Off New iPhone 11, iPhone 11 Pro

Better Than Feared: Apple Impresses Analysts With iPhone Sales, Return To Hope For China

Photo courtesy of Apple.

Posted-In: Apple Store iPhone iPhone 11 Loup VenturesAnalyst Color Tech Best of Benzinga


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