According to a note sent to investors by Ticonderoga Securities analyst Brian White, the iPhone 4S, which went on sale for pre-orders on Friday in 15 countries, sold out in Hong Kong in a record ten minutes. White maintains his $666 target price for Apple.
We believe this rapid sell out $76.83 will rest concerns surrounding the uptake of the iPhone 4S in the Greater China region that were driven by the limited language capability of Siri, which did not launch in Mandarin or Cantonese.
Meanwhile, AppleInsider points out a note from Deutsch Bank analyst Chris Whitmore stating that iPhone 4S sales in the rest of the world remain strong, as between 85-90% of stores are still seeing daily stock-outs of the popular new device, and Apple employees are directing customers to make a reservation for next-day pickup in order to purchase an iPhone 4S at an Apple Retail Store.
Apple is currently advertising a one to two week delay for new iPhone 4S orders placed on its online store both within the US and internationally. The iPhone 4S has been the fastest rollout ever for an iPhone model.