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Apple’s First-Day Preorders For iPhone 12 Surpassed The iPhone 11

Tim Cook announces Apple iPhone 12 5G

Apple sold more iPhone 12 models in the first 24 hours of pre-orders last week than iPhone 11 models sold in the same period last year, according to top Apple analyst Ming-Chi Kuo of TF International securities.

In a research note released Monday, Kuo reported that Apple sold up to 2 million iPhone 12 units in the first 24 hours, up from 800,000 units of the iPhone 11. But for the full weekend of pre-orders, which ended Sunday, Kuo predicted Apple would sell up to 9 million iPhone 12 units, down from the iPhone 11’s 12 million units for the same period. The iPhone 12 Pro sold better than expected thanks to strong demand in China, Kuo said.

Kuo has an excellent track record predicting future Apple products and sales, so his reports carry extra weight, especially since Apple stopped reporting unit sales for the iPhone two years ago. Apple stopped reporting first-weekend sales of new iPhone models several years ago.

Meanwhile, many Apple analysts are predicting a “super cycle” of iPhone sales for Apple’s fiscal 2021, which began in October, thanks to a larger than normal customer base due for an upgrade and the addition of 5G cellular connections.

Source: https://www.global-asset-mgmt.com/apples-first-day-pre-orders-for-iphone-12-surpassed-the-iphone-11-top-analyst-says/

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