![\"gene-munster-tbi-cnbc.jpg\"](\"http:\/\/static.businessinsider.com\/image\/4aa659ec2aee371f6d10cde3\/gene-munster-tbi-cnbcjpg.jpg\")
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On Saturday afternoon, Piper’s Gene Munster published his estimate that Apple had sold 600,000-700,000 iPads on Day 1<\/a>.<\/p>\n Several observers immediately scoffed: Gene had obviously pulled that number out of his ass!<\/p>\n Gene, of course, didn’t say that he had pulled the number out of his ass. He said he had called a bunch of Apple Stores and compiled his estimate based on the information he had gathered. <\/p>\n Based on the precision and magnitude of the number, we figured he also might have dropped a call into Apple HQ to say, “Hey, guys, here’s what I’m estimating. Am I going to look like a fool?” That’s what analysts who want to avoid humiliating themselves often do. And a surprising number of companies play ball — especially when you’re as bullish about their stocks and prospects as Gene is about Apple’s.<\/p>\n But now we know the truth: Gene pulled the number out of his ass!<\/p>\n Ah, well. To Gene’s credit, last week, he was one of the only analysts with the balls to make a prediction about weekend sales. <\/p>\n * UPDATE:<\/strong> To Gene’s further credit, he has already fully acknowledged and explained his error. He also has cut his estimates for iPad sales for the year.<\/a> If only all analysts were so forthright.<\/p>\n <\/strong>Click here to flip through photos from iPad lines around the world →<\/a><\/strong><\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n On Saturday afternoon, Piper’s Gene Munster published his estimate that Apple had sold 600,000-700,000 iPads on Day 1. Several observers immediately scoffed: Gene had obviously pulled that number out of his ass! Gene, of course, didn’t say that he had pulled the number out of his ass. He said he had called a bunch of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-516381","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/516381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=516381"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/516381\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=516381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=516381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=516381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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