Apple (AAPL) Sold 425,000 iPhones In 3G Debut, Glitch Irrelevant*

Piper Jaffray analyst Gene Munster says Apple (AAPL) sold 425,000 3G iPhones over the course of three days. 225,000 were sold in the U.S., where a glitch in Apple’s system forced some customers to complete activations at home.

Munster, in an interview with Bloomberg:

We thought it was going to be less because of the activation problems on the first day, but what we found is that virtually every store had a line and many stores were sold out. The summary is that demand is good, execution was average.

Apple said that 95 of its 187 stores ran out of iPhones during the launch.

The glitch is irrelevant: Once again, Apple has demonstrated its ability to put sex in a box, and the successful launch is great news for long-term Apple (AAPL) shareholders.

UPDATE: Apple Says it Sold 1 million iPhones

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.