Apple released the newest successor to their line of consumer electronics late last week, the iPhone 5. The highly touted and anticipated phone received reviews ranging from lackluster to brilliant. But for investors it’s important to look beyond the glitz of the new device and into the sales numbers – all of which are anything but lackluster.
Think about it: Apple released the first generation iPhone in 2007, which peaked with total sales of 6,124,000 units. The latest iPhone 5 released with pre-order sales of over two million units and estimates over 40 million of the gadgets will walk out the door in the 4th quarter of 20121. With only one week of sales available in the third quarter, analysts project that Apple will sell between 27 and 30 million units in the fourth quarter.2