It’s an envious spot to be in: Apple’s iPhone and iPads are in such demand that the Cupertino, Calif. company spent much of Tuesday’s earnings call emphasizing it is dancing as fast as it can. “We’re working around the clock to try to get supply/demand in balance, in the scheme of things, it’s a good problem to have,” Chief Operating Officer Tim Cook told reporters.
The record third-quarter profit report and news that every category except iPods were up, did more to quiet the ‘antennagate’ controversy than all the free iPhone 4 cases in Cupertino. ”Let me be very clear on this: We are selling every unit we are making,” Cook crowed. Indeed. Although analysts were nervous about the potential effect of talk about dropped calls having on earnings, today, Oppenheimer’s Yair Reiner summed up the current feelings: “Antennagate Schmantennagate.”
As for the iPad, the tablet-like device that seems to fly off the shelves, Apple says the device is defying tradition by initially being sold to ‘first adopters’ and then entering the mainstream. “We are investing enormous time and resource in increasing our capability in getting iPad out to as many people as we can,” Cook said.
Apple roundly denies it is manufacturing ‘artificial shortages.’ But when will Apple catch up with consumer demand for the iPhone? That question was left unanswered by the Apple executive. “I can’t predict when that will occur, but I can’t tell you everyone is working very hard to do it,” Cook said.
