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

Trendingnow

1

After 40 investors rejected Jeff Bezos’ Amazon pitch, his parents offered $245,573 of their retirement savings

2

D.C.'s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000

3

China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat

1

After 40 investors rejected Jeff Bezos’ Amazon pitch, his parents offered $245,573 of their retirement savings

2

D.C.'s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000

3

China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat

How many iPads did Apple sell last quarter? (updated)

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
July 8, 2012, 6:05 PM ET
Google source logo
Add Fortune on Google for similar content.

FORTUNE — iPad unit sales. That’s the number that jumps out from the estimates I’ve gathered so far for Apple’s (AAPL) third fiscal quarter of 2012, which ended June 30th.

There’s more to come, but as of Monday, July 9, I’ve seen 61 estimates — 28 from the professionals who cover Apple for banks and brokerage houses and 33 from a rapidly growing contigent of independent Apple analysts — bloggers, long-term investors and at least one day trader who has started a multimillion-dollar Apple hedge fund.

As usual the indies are more bullish than the pros, but the iPad gap is unusually wide this quarter. With iPhone sales expected to slow in advance of a new model next fall, iPad unit sales — which were lower than some analysts expected in Q2 — could be the key to Apple’s Q3 results.

Among the professionals, the estimates range from low of 12.68 million iPads from Wedbush’s Scott Sutherland to a high of 18.5 million from Cowan’s Matthew Hoffman. The average estimate from this group is 15.07 million.

The average among the independents is 19.96 million — 4.89 million (32%) higher than the pros and more than double the 9.25 million sold in the same quarter last year. The low estimate in this group was 17.7 million from Alexis Cabot, a American ex-pat living in Rome, and the high was the 24 million submitted by Asymco‘s Horace Dediu.

We like to keep an especially close eye on the six independent analysts with the best track record over the past seven quarters. Their consensus: 18.75 million iPads, a year-over-year increase of 102.8%.

We’ll find out who was closest to the mark when Apple reports its earnings after the markets close on Tuesday, July 24.

Below the fold: The analysts’ individual estimates, with the pros in blue and the amateurs in green. Note the sharp separation of the colors. [Updated July 9 to include estimates from four more independents (Sunil Shah, Corey Forsberg, Chas McKenna and Robert Eversz].



For the first time in the nearly four years I’ve been gathering these estimates, the independents outnumber the pros. This is thanks largely to the work of Robert Paul Leitao, who with his wife Sandy rides herd over nearly 280 Apple enthusiasts at The Braeburn Group, a private discussion board open to serious Apple investors willing to post under their real names. You can reach Leitao through his blog, Posts at Eventide.

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

Latest in


Most Popular

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
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 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.