iphone5 front back[1] Five million iPhone 5s sold   Apple pleased, investors not

Three days after the launch of the iPhone 5, Apple reports it sold five million phones. As any lay person might expect, the Cupertino company is pleased – but others aren't.

Five million phone sales is not a bad number, and even beats the weekend sales of the iPhone 4S by one million. In fact, those digits surpass what some competitor phones have gotten in the entirety of their existence. Apple itself has announced that demand for the iPhone 5  exceeded their own expectations.

But other people had higher ideas about what to expect – for example, financial analyst Gene Munster at Piper Jaffray, who predicted that eight million iPhones would be sold over the weekend. This number exceeds the real count by three million, and was based on the amount of people standing in line outside of Apple stores.

iphone 5 line 5th ave[1] Five million iPhone 5s sold   Apple pleased, investors not
People in line for the iPhone 5

Of course, how Munster feels doesn't change the value of a sale, and who is really going to complain about five million in three days? It can't be said that competitors are really stealing customers. Most competitor smartphones released this month failed to hit the shelves before Apple's big revealing in September. The Lumia line by Apple’s notable competitor Nokia has only managed to make seven-million phone sales since November of last year. So in reality, it’s safe to say that the iPhone 5 is going strong – very strong.

Nonetheless, the words of analysts mean money saved, or money spent. So, though they say laughing is contagious, while the executives at Apple are probably having their annual giggle-fest all the way to the bank, analysts, and therefore investors, are not humored.

Source: The New York Times' Bits