Wall Street analysts were busy Monday attempting to explain why Apple’s record-setting sales of 5 million iPhone 5 handsets during the weekend was fewer than investors expected. Among the chief reasons offered: there just weren’t enough of the new smartphones to meet demand. Despite the disappointment, Apple watchers remained confident the Cupertino, Calif. company still has the Midas Touch.
High-profile analyst Gene Munster told investors Apple’s sales figures released earlier today did not include online preorders, which he estimated at around 1 million units. Another potential reason “only” 5 million iPhone 5 were reported sold during the initial launch weekend: Apple was reserving some of its inventory for the smartphone’s international launch on Friday…(...) Read the rest of iPhone 5 initial sales held back by limited supplies