Nati Harnik, File, Associated Press
NEW YORK — Apple Inc. said Monday that it sold more than 5 million units of the iPhone 5 in the three days since its launch, less than analysts had expected.
Apple shares were down $6.60, or 0.9 percent, at $693.49 in morning trading. The shares are still close to their all-time high of $705.07, hit Friday as the phone went on sale in the U.S., Germany, France, Japan and five other countries.
The sales tally is a record for any phone, but it beats last year's iPhone 4S launch only by a small margin. Apple said then that it sold 4 million phones in the first three days.
Topeka Capital Markets analyst Brian White expected Apple to sell 6 million to 6.5 million iPhone 5s in the first three days. He said the shortfall was largely due to limited supply. White said the phone was sold out at 80 to 85 percent of the U.S. Apple stores he and his team contacted Sunday evening, and the ones that were still available were mostly Sprint models.
Online delivery times have stretched to three to four weeks.
The phone will go on sale in 22 more countries on Friday and in more than 100 countries by the end of the year.
- Items owned by gangster 'Whitey' Bulger to be...
- Motivational speaker Robbins' coal walk burns...
- Lucas abandons plan to build museum in...
- World doping watchdog shuts down Rio Olympic...
- Officials: No evidence Orlando gunman was gay
- Pro-EU Scots, Northern Irish eye UK escape...
- Photo Gallery: Britain joins EU in 1973
- Young Colombians look ahead to a peace...
- House Republicans' report faults Obama... 52
- In need of help, Trump finds few... 39
- Big ruling for abortion rights in... 36
- The pro-life plan that could reverse... 36
- Did Trump really just become a... 36
- Love won't go to GOP national convention 35
- Supreme Court abortion decision could... 31
- Will 'Brexit' vote help Trump in Utah? 26