“We believe that if supply were not a constraint and Apple included all pre-orders, the launch weekend number would have been closer to 7-8 million, assuming ~1 million October pre-order sales and an additional 1-2 million units at retail,” added Gene Munster of Piper Jaffray in the article.
“We believe that sales could have potentially been much higher if not for supply constraints,” William Power, an analyst with Baird Equity Research, said in a Reuters report.
“Expectations for Apple are always white hot,” said Colin Gillis, a research analyst with BGC, in the story. “It’s not just enough for them to break records but to smash them.”
Apple shares were up 73.5% year to date heading into Monday’s trading, according to Morningstar. QQQ, the Nasdaq-100 ETF, was up 26.5%.
PowerShares QQQ
Full disclosure: Tom Lydon’s clients own QQQ and AAPL.