The Numbers Behind Every iPhone Pre-Order Weekend
Apple Inc. (NASDAQ: AAPL) shares recorded a gain of more than 3 percent on Wednesday on the back of solid pre-orders for its iPhone 7 models. However, this is not the first time the company has received strong pre-order figures. Looking back at past pre-order weekends suggests these most recent figures are just a continuation of the trend.
The tech bellwether's iPhone has always been a major player for both customers and investors. On Tuesday, T-Mobile US Inc (NASDAQ: TMUS) disclosed that between Friday and Monday the company received nearly four times as many pre-orders for the iPhone 7 as that of the next popular iPhone model, the iPhone 6.
Similarly, Sprint Corp (NYSE: S) indicated that it received 3.75 times more pre-orders than the earlier model. Both Verizon Communications Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T) have yet to indicate their pre-order figures.
However, history suggests that iPhone 7's pre-orders could double from those of the iPhone 6. For reference, the iPhone 4 witnessed only 1.7 million while iPhone 5 pre-orders more than doubled to five million in 2012.
The following is the first week pre-orders of Apple's previous three models:
- iPhone 5 recorded first weekend sales of more than five million in September 2012.
- iPhone 6 reached first weekend sales of over ten million in September 2014.
- T-Mobile said iPhone 7 recorded four times growth in T-Mobile and 3.75 times in Sprint.
Taking these figures into consideration, Apple's iPhone pre-orders are likely to come in above 20 million.
At time of writing, Apple was seen trading at $111.54, up 3.33 percent on the day.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email firstname.lastname@example.org with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.