AfterDawn: News

Apple stock falls as iPad sales expected to miss estimates

Apple's stock fell almost 3 percent on Friday as one analyst said that the iPad will likely miss sales estimates for the upcoming quarter.

Rodman & Renshaw say they expect consumers to cut back spending, and opt for cheaper notebooks or smartphones instead.



Apple sold 4.19 million iPads in the Q3, well above estimates, but R&R note that the company should have trouble selling the estimated 6 million in the Q4.

Analyst Ashok Kumar says Apple will likely sell just over 5 million for the period.

"It’s a nice-to-have product, for those of us who don’t have a budget, but is it a must-have product? I don’t think so," adds Kumar.

The iPad is on sale now at Verizon, AT&T, Wal-Mart and Best Buy stores.

Written by: Andre Yoskowitz @ 13 Nov 2010 15:01

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• 7 comments

• Ryoohki

  its nice to see reality reasserting itself
  

  13.11.2010 15:27 #1

• stuntman_

  I hope it keeps falling and apple goes away
  

  
  
  
  

  13.11.2010 17:32 #2

• biglo30

  They should have known those estimates were to high and didn't count on the fact that other tablets would be entering the game as well(with flash support).

  13.11.2010 22:53 #3

• DoomLight

  i haven't seen that many of those Ipads around. those numbers seem inflated.
  

  14.11.2010 00:43 #4

• TrendWatcher

  Stocks rise and fall on rumour and it's a great opportunity for the less-easily-spooked to pick up shares at a discount. Let's all wait and see what this quarter's sales figures are. It beats guessing.
  
  Your comments so far have come from the usual suspects. Apple and iPad are a red rag to them. It must be galling that so far the whole field has been left to Apple. The first 2 quarters saw (if I remember correctly} iPad selling about 7.5 to 8 million. Competing devices appeared but hardly made any market impact. Anything of any significance seems to be slated for next year.
  
  The question that should be asked: what's wrong with the competition?

  14.11.2010 10:24 #5

• bob dole (unverified)

  @TrendWatcher
  
  "Whats wrong with the competition"
  
  Nothing, only Apple has the brand and following to sell a compete gimmick like the iPad. The iPad is a toy, an $500+ computer that can't multitask. Its only good use is as a mobile gaming platform for children, even then a $200 DS or PSP is much more entertaining.
  
  The reason "the competition" (you mean the rest of the world outside of Apple?) doesn't bother is because their product even if its a useless pos. Sure they wish they did but they don't, everyone else has to actually make something useful for people to buy it.

  14.11.2010 15:54 #6

• lissenup2

  Not surprised.
  
  I supported a couple of these for some clients and they're garbage. Just a big IPhone and no camera, no memory expansion and simply played out. It's Exchange function is hosed and it's just a dumb and impractical Apple product. There are so many others that best this by a lOONNNGGGG shot.

  15.11.2010 16:06 #7