Piper Jaffray: 500,000 iPhones sold over the weekend

A quantitative estimate of Apple's weekend iPhone sales has been released, surpassing some of the more optimistic analysts last week.

Apple sold around half a million iPhones the first weekend the device went on sale, one analyst firm has estimated.

Piper Jaffray's Gene Munster released a report Sunday night estimating that Apple sold about 500,000 units from 6 p.m. Friday through the close of business Sunday. Going into the weekend Munster thought Apple would sell 200,000 on Friday and Saturday.

Despite low supply at AT&T stores and activation issues, it appears that the iPhone era at Apple got off to a good start. Piper Jaffray said Apple had iPhones available in each one of its stores on Saturday, and in 84 percent of its stores Sunday.

Ninety-five percent of iPhone buyers in San Francisco, New York and Minneapolis (home to Piper Jaffray's offices) purchased the 8GB model, according to a survey conducted by the firm. About half were new customers for AT&T, at least among the 253 people surveyed for the report.

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

iPhone 6S chip controversy over battery life

Not all new iPhones have the same processor chip, but Apple says differences in performance are minimal. Apple also pulls ad-blocking apps over privacy concerns, and Netflix raises its price again.

by Bridget Carey