Analysts Disappointed That Apple Has “Only” Sold 100M iPads So Far

Analysts Disappointed That Apple Has “Only” Sold 100M iPads So Far

When Tim Cook jumped on stage yesterday and ran through all the little statistics about how extremely successful Apple’s been over the last few months, he put some added emphasis on the fact that Apple just sold their 100 millionth iPad.

100 million iPads in just over two years is absolutely nuts. 100 million of any product sold in two years is insane. But it turns out that analysts weren’t thrilled that Apple just sold their 100 millionth iPad two weeks ago, because it means iPad sales are starting to decline when analysts were expecting them to sell more.

As of June 30th Apple sold 84.12 million iPads. 17.57 million of those sales came in the last quarter (Q3), so analysts were expecting iPad sales in Q4 (which just ended) to be about the same or even a little higher than that 17.57 million mark.

Cook’s announcement meant that as of October 9th, Apple only sold 15.88 million iPads, and ten days earlier, when Apple closed its books on fiscal 2012, that number would have been lower.

After Tim Cook’s keynote yesterday, Philip Elmer-Dewitt at Fortune contacted 17 of the most popular Apple stock analysts to see what they’ve updated their projections to. On average, the group of analysts lowered their iPad estimates by 2.67 million and lowered their revenue estimates an average of $1.26 billion.

Official unit sales numbers will be revealed by Apple during their Q4 earnings call on Thursdays. Fortune created the spreadsheet below that shows how Tim Cook’s announcement effected analysts’ predictions.

Analysts Disappointed That Apple Has “Only” Sold 100M iPads So Far

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  • Hawk_Ky

    It seems like every time an earnings report nears, the analysts always predict too high. Then when it is revealed that Apple has set new sales and profit records, the stock crashes $20-$30 because the analysts don’t know what they are talking about.

  • Steffen Jobbs

    These are the sorts of things I can’t quite comprehend. Apple is just knocking the hell out of the tech industry and yet Wall Street isn’t happy at all. This is even despite the weak economy. If this was 1999, Apple might have been a trillion dollar company. Currently, there are companies getting whacked left and right with missed earnings but Apple is busily selling products with packed stores. And Wall Street isn’t happy. Their greed is immense. Exactly who is running Wall Street? Why should analysts be the ones to determine the numbers of a company they know little about? Why don’t the expectations on Wall Street adjust to the state of the economy? Practically every company is in the same boat.

  • Shaun Green

    It seems like every time an earnings report nears, the analysts always predict too high. Then when it is revealed that Apple has set new sales and profit records, the stock crashes $20-$30 because the analysts don’t know what they are talking about.

    Yes but if they had predicted the lower numbers in the first place the stock would be lower anyway because the stock price is based on what the market believes Apple will sell in the near future. So you either get the stock adjustment then or now but either way you get the adjustment.

    And if you look at recent history you will see that in fact most of the analysts consistently under-estimate Apples’ sales which is why the stock often shoots up when Apple reports the actual numbers.

  • chuckmcginley

    My math may be a little off but I think that is:

    50,000,000 ipads a year
    4,166,666 iPads a month
    138,00 iPads a day
    5,787 iPads an hour, every hour of every day.

    Disappointing… um… ya, what else do you have for me?

  • CharilaosMulder

    Analysts must be very tiring people…

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Buster HeinBuster Hein is Cult of Mac's Social Media Editor. Hailing from Roswell, New Mexico, but now spending his days in Phoenix, Arizona, he wastes most of his time eating burritos and reading Spanish romance novels. Twitter: @bst3r.

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