What did it take for Apple to reach that one million IPhone sales mark by September 9th? Well, that 33 percent price cut certainly didn't hurt, concludes Piper Jaffray's senior research analyst, Gene Munster.
Munster did a bit of mathematical jujitsu after Apple's Monday announcement and, according to his calculations, prior to the cut, Apple and AT&T were selling on average about 9,000 iPhones a day. That would have put their quarterly sales at 594,000 as of September 5, Munster said in a report that started making the rounds yesterday.
Having already sold 270,000 phones in the previous quarter, Munster also figured that to reach the one million mark by September 9, both companies would have had to sell 136,000 more phones, or 27,000 a day -- a 200 percent increase.
While that's certainly nothing to scoff at, don't expect such a rate to last long, Munster warned. By the end of this quarter, he estimates Apple will have only sold 1.28 million IPhones. That's quite a ways from the 10 million Jobs says he wants to ship by the end of '08. Maybe it's time for another price cut?
