Apple’s CEO Tim Cook may have just subtly revealed that the company missed its iPad sales estimates for the quarter.
While speaking at Apple’s iPad Mini press event on Tuesday, Cook noted that the company sold its 100 millionth iPad two weeks ago — presumably on or around Oct. 9. It’s an impressive statistic, to be sure, considering that the iPad has only been around for two and a half years.
However, as some analysts were quick to point out on Twitter, it doesn’t bode well for Apple’s quarterly iPad sales. At the iPhone 5 event last month, Cook noted that Apple had sold 84 million iPads through the end of June. Therefore, the latest numbers suggest that Apple sold less than 16 million iPads during the September quarter.
By comparison, a survey of 61 analysts by Fortune found that Wall Street’s consensus estimate for iPad sales in the September quarter is about 17.6 million. That’s still a significant year-over-year increase from the 11.1 million iPads sold in the third quarter last year, though it falls short of the 17 million sold in the June quarter.
Apple’s stock was down by more than 3% following the press event, due in part to a higher-than-expected price point for the iPad Mini and the disappointing iPad sales.
Image courtesy of Flickr, Yutaka Tsutano