iPad Sold Out In Many Locations

Best Buy and Apple's own online store are having trouble meeting demand for the tablet-style computer.

Paul McDougall, Editor At Large, InformationWeek

June 2, 2010

2 Min Read

Tech enthusiasts who want to get their hands on an Apple iPad better do so fast—the hot-selling, must-have gadget of the summer is fast selling out across the country.

A Wednesday survey by InformationWeek.com of Best Buy stores in major U.S. cities, including New York, San Francisco, Los Angeles, Atlanta, and Denver, showed that many of the retailer's outlets in those locations have no iPads left in stock.

And all Best Buy stores surveyed were sold out of the 16GB Wi-Fi + 3G version.

Even Apple is having trouble meeting demand for the iPad. Its online store recently changed the wait time for those purchasing an iPad from five to seven days, to seven to ten days.

The limited supply of iPads isn't bad news for everyone. Some of those lucky enough to get their hands one of the devices are reaping handsome profits on eBay.

16GB Wi-Fi + 3G iPads were attracting bids of well over $700 as of Wednesday, significantly higher than the device's $629 list price.

Other models were also fetching prices well above list. The shortage shouldn't be surprising. Apple on Monday said it has sold more than two million iPads since launching the product on April 3rd. That adds up to more than 33,000 units sold per day.

On Tuesday at a technology conference in Southern California, Apple CEO Steve Jobs said the company is currently selling an iPad every three seconds.

A day earlier, Jobs released a statement indicating Apple is working hard to meet demand for the iPad, and he thanked would-be purchasers for their "patience."

Apple's stock is benefiting from iPad's sales momentum. The company's shares are up about 5%, to $263, over the past five trading sessions.

About the Author(s)

Paul McDougall

Editor At Large, InformationWeek

Paul McDougall is a former editor for InformationWeek.

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