LOS ANGELES (AP) - When it only takes 24 hours between ordering an iPad and receiving one, that is cause for concern about flagging demand, according to Sterne Agee analyst Vijay Rakesh.
THE OPINION: Wait times to fulfill iPad orders are down from the one-to-two weeks it took when the tablet device went on sale in April. In comparison, the wait time for the iPhone 4 is still around 3 weeks.
“We believe that this could create some concern with potentially waning demand in the U.S., given recent consumer headlines,” Rakesh wrote in an analyst note Monday.
People were interested in these podcasts
Rakesh still has a “Buy” rating and $320 price target on the shares, and is holding out hope for a back-to-school price cut on iPads at a media event that Apple Inc. is holding on Wednesday.
An Apple spokesman did not immediately respond to messages seeking comment.
THE STOCK: Shares rose 88 cents to close at $242.50 on an otherwise down day for the market. The stock has traded in a range of $164.11 to $279.01 in the past 52 weeks.
Please read our comment policy before commenting.