Wednesday, April 25, 2012
Apple CFO Peter Oppenheimer: “The New iPad Is On Fire”
If you were one of the naysayers who thought that there wouldn't be a very strong consumer appetite for the newest twist on the already very popular iPad, it may be time to think again. Apple's top executives said today that just a few weeks after the new iPad's formal launch, the response to the company's latest iteration on the tablet has been incredibly strong -- and it's making an impact from a financial perspective. "We're just learning about the elasticity of demand and the $399 price point is doing well, but I have to tell you the new iPad is on fire and we're selling them as fast as we can make them," CFO Peter Oppenheimer said during the company's first quarter earnings call with investors, a sentiment that Tim Cook echoed verbatim later on in the call. This latest release, which saw three million devices sold in its first weekend alone, was Apple's fastest iPad rollout ever, he said.