Appleshares jump after iMac retail launch
Reuters Story - August 17, 1998 15:53
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SAN FRANCISCO, Aug 17 (Reuters) - Shares of Apple Computer
Inc jumped to a nearly three-year high after the company's new
consumer iMac was seen as a big success following its initial
launch in retailers this weekend.
The much-hyped sleek, translucent iMac consumer personal
computer priced at $1,299 went on sale on Saturday, with some
stores opening at midnight Friday night.
"From talking to resellers, it looks very positive," said a
spokeswoman for the Cupertino, Calif.-based computer maker. "I
just don't have any definitives yet."
Apple said last week it had orders for over 150,000 units.
Apple's shares jumped 1-13/16 to 42-05/16, a high its once-
downtrodden stock has not seen in nearly three years.
"This was beyond our wildest dreams," said Paul Ramirez,
vice president of marketing at ComputerWare, a chain of 10
Apple-specific stores in the San Francisco Bay Area. Ramirez
said ComputerWare, which started selling iMacs at midnight
Friday, sold 225 units from midnight to 2 am Pacific Time.
"Saturday exceeded our best day in history by 60 percent...
It's Christmas, plus 60 percent in August...That is totally
insane," Ramirez said.
Apple said about 25 Apple speciality retailers took part in
the "Midnight Madness" across the U.S. for the iMac launch, not
including regional retailers. While the launch was certainly no
Windows 95, some retailers were calling the launch one of the
most successful Apple product launches in years.
Ramirez said that over the entire weekend, ComputerWare
sold well over 600 units, including pre-paid backorders.
He said that ComputerWare is working with an industry
analyst to poll the first 500 customers, to determine how
sales are split between current Mac owners or to new users.
Apple said last week it would be spending $100 million on a
major advertising blitz through the end of December, including
prime time television ads which began running last night.
Wall Street is counting on sales from the iMac, Apple's
long-awaited re-entry into the consumer market, to boost its
sluggish revenue growth and dwindling PC market share. |
