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iPad Mini Sold Out In Top NYC Apple Store

The iPad Mini and the fourth generation iPad are surefire hits at Apple’s flagship store in New York City after the company’s newest tablet models were reportedly sold out in about two hours.

New York City’s Apple “cube” store on Fifth Avenue has already sold out iPad Mini models and the latest version of iPad with the white model went off the shelves first and the black model followed roughly an hour later.

“We believe these early stock outs are driven by the combination of strong demand, combined with a shortage of supply due to the constraints we discussed during our recent Asia Technology Tour,” said Topeka Capital Markets analyst Brian White, who believes that the early sellout of iPad Mini prompted customers to also purchase the fourth-generation iPad.

New York is still gathering things up after Hurricane Sandy wreaked havoc major portions of the metropolis, causing damages on the city’s water system and leaving millions of houses without electricity.

Nevertheless, gadgets enthusiasts still stormed into Apple’s Fifth Avenue store hours ahead of the much-awaited release of the iPad Min.

Meanwhile, Apple’s retail store in West 14th Street and SoHo are still closed up to now while three retail locations in the New York area started their businesses about two hours late.

Despite recording strong sales in the Big Apple, White still predicted Apple to sell 800,000 to 1 million iPad Minis during its debut weekend.

Piper Jaffray analyst Gene Munster also released his estimated sales of the iPad Mini on Friday, predicting 1 million to 1.5 million units of iPad Mini sold for the opening weekend.

The numbers are much lower compared to the 3 million iPads sold by Apple during the launch weekend of the third-generation iPad model last March.

All the sales predictions will be put to end when Apple announces its initial sales report of the device early next week.

Via: CNET