• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

2

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

3

A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history

1

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

2

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

3

A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history

Piper Jaffray: iPad 2 totally sold out, 70% to new buyers

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
March 13, 2011, 8:39 PM ET

By Sunday, Gene Munster’s team couldn’t find an Apple tablet for sale at any retail outlet



Apple Fifth Avenue Store Friday afternoon. Photo: PED

Gene Munster’s team at Piper Jaffray walked the iPad 2 lines in New York City and Minneapolis and interviewed 236 would-be buyers. They also called various retailers (Apple stores, Target, Best Buy, etc.) looking for product. The results of their survey were released Sunday night. Their findings:

  • Munster is sticking with his estimate of 400,000 to 500,000 iPad 2s sold, compared with 300,000 iPad 1s in its first weekend last year.
  • The difference is that nearly all those iPad 2s were sold in one day; stocks were essentially depleted by Saturday and not replenished. In its calls to retailers over the weekend, his team was unable to find a single iPad 2.
  • 70% of iPad 2 buyers were new to the iPad, compared with 23% of iPhone 4 buyers who were new to the iPhone at launch.

  • Buyers were split almost evenly between Mac and PC users (51%/49%). By contrast, the split for the original iPad was 74%/26%.
  • 47% of buyers were purchasing a 3G model, which carries a $130 premium.
  • 41% purchased the 32GB iPad 2, up from 32% who bought the 32GB version of the original iPad. The 64GB models also gained a slight share. This means that the iPad 2’s average selling price (ASP) at launch was considerably higher than original iPad’s. (Munster doesn’t mention that at many outlets, Apple (AAPL) ran out of 16GB iPads first, then 32BG models, which may have been a factor pushing up the launch-day ASP.)
  • 65% of buyers owned an iPhone, 24% owned a Kindle (up from 13% of original iPad buyers), but only 6% plan to read with their iPad (down from 19% in Piper Jaffray’s first iPad survey).
  • 17% expect to use apps and play games, up from 9%, which suggests that the App Store ecosystem is growing.

The number of new buyers was particularly significant, says Munster:

“We believe this shows Apple is expanding its base of iPad users, which is critical to maintaining its early lead in the growing tablet market. As the user base grows Apple’s lead widens, and the company has a proven track record of building unmatched brand loyalty, which we believe will be a potent combination as the tablet market evolves.”

UPDATE: Deutsche Bank’s Chris Whitmore reported early Monday that his team called about 100 stores (50 Apple retail stores, 20 Best Buy and Wal-Mart stores and a handful of AT&T and Verizon stores) and got the same result as Munster’s:

“Our checks pointed to a shocking 100% stock out rate across Apple/authorized retail stores just a few hours into the official launch Friday evening, contributing to what we believe was one of the company’s most successful product launches to date.”

Below: The details of the Piper Jaffray survey:



[NOTE: Several readers have pointed out that the 28% and 32% in the first column of question 3 in the chart above make no sense. We suspect they were left over from question 1 and should have been replaced with NAs.]

Also on Fortune.com:

  • Apple runs out of most iPads
  • Video: Walking the longest iPad 2 line
  • iPad line goes around the block in NYC

[Follow Philip Elmer-DeWitt on Twitter @philiped]

About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

‘The next China is still China’: McKinsey’s Joe Ngai and Nick Leung on why global business can’t write off the Chinese economy
AsiaAsia Agenda
‘The next China is still China’: McKinsey’s Joe Ngai and Nick Leung on why global business can’t write off the Chinese economy
By Nicholas GordonJune 4, 2026
7 hours ago
IBM, AT&T accused by whistleblower of covering up foreign hacks
CybersecurityIBM
IBM, AT&T accused by whistleblower of covering up foreign hacks
By Jake Bleiberg, Mark Anderson and BloombergJune 4, 2026
8 hours ago
Airbnb CEO Brian Chesky plans to start a new AI company
Startups & VentureAirbnb
Airbnb CEO Brian Chesky plans to start a new AI company
By Shirin Ghaffary, Edward Ludlow, Natalie Lung and BloombergJune 4, 2026
8 hours ago
bofa
Real EstateHousing
BofA on the ‘fundamental disconnect’ in the housing market: You’re blaming the wrong person for why you can’t afford a home
By Nick LichtenbergJune 4, 2026
8 hours ago
A maintenance worker walks past the company logo on the side of a locomotive in the Union Pacific Railroad fueling yard in north Denver, Oct. 18, 2006.
North AmericaDonald Trump
Union Pacific CEO responds to Trump idea for U.S. stake in $71.5 billion railroad mega merger: ‘We do not need anybody’s help to do this’
By Jordan BlumJune 4, 2026
9 hours ago
Google CEO Sundar Pichai
AIGoogle
World’s largest sovereign wealth fund backs push for Google oversight on government use of its AI and cloud technology
By Beatrice NolanJune 4, 2026
10 hours ago

Most Popular

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
Success
CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
By Orianna Rosa RoyleJune 4, 2026
21 hours ago
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
Cybersecurity
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
By Sasha RogelbergJune 3, 2026
2 days ago
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
Startups & Venture
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
By Shawn TullyJune 4, 2026
21 hours ago
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
Economy
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
By Nick LichtenbergJune 4, 2026
13 hours ago
Current price of oil as of June 4, 2026
Personal Finance
Current price of oil as of June 4, 2026
By Joseph HostetlerJune 4, 2026
15 hours ago
Teens are up against the worst summer job market in nearly 80 years—they’re fighting against hundreds to work at ice cream shops and swimming pools
Success
Teens are up against the worst summer job market in nearly 80 years—they’re fighting against hundreds to work at ice cream shops and swimming pools
By Emma BurleighJune 2, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.