Analysts: iMac sales looking up
Published: 22 Feb 2002 12:24 GMT
Apple Computer's new iMacs appear to be off to a good start, say Wall Street analysts, who cite anecdotal evidence in new reports.
Although it's still too early to get concrete sales figures for the iMac, which debuted last month, analysts believe sales are strong so far. Market research firm NPD Techworld said it did not yet have enough data on iMac's retail sales to comment.
The first quarter of the year is not a traditionally strong time for PC sales, which have been slumping worldwide over the past year. PC prices have also been steadily dropping. Apple's iMacs debuted at relatively high prices, partly because they come with a new flat-panel monitor, but consumers apparently don't mind. A larger-than-expected amount of orders have already lengthened shipping times.
"There is an overwhelming amount of demand for the new iMacs, despite the higher price points," UBS Warburg analyst Don Young wrote in a research report Thursday.
Young, who noted that the new iMacs were "gaining traction," based his comments on a private meeting with a senior executive in charge of Apple's retail operations. "The Apple Store is exceeding Apple's traffic expectations," he said.
Mark Specker at SoundView Financial Group had similar news to report, stating in his research report last week that demand had exceeded his initial expectations. Specker said he expects Apple to sell 1.3 million new iMacs during the year.
An Apple representative said the company would not release sales figures for specific products, but said, "We are extremely pleased at the reception and happy that the product is being so well-received."
Apple said in late January that it had received a "record-breaking 150,000 pre-orders for the new iMac." The systems debuted to much acclaim in January. Apple was immediately besieged with orders, pushing back shipping dates by a week or so.
That demand may have caused a temporary shortage in some stores, Specker said.
Anecdotal evidence seems to back this up. Representatives at one online iMac seller said that all their available models were on backorder and wouldn't be ready until the end of March at least.
Specker did add that "conversations with store managers and Apple suggest shipments management are becoming more frequent and larger."
Young said Apple's high-end iMac, which retails from £1,360, is shipping on schedule, and a midrange version, priced at £1,105, is scheduled to ship at the end of the month. "We cannot confirm at this point if midrange iMac supply is in line with plans," he said.
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