Apple Fighting Off Supply Problems With 11B Purchase Commitments
Timothy Cook, Apple’s chief of operations and a temporary Steve Jobs replacement, called iPad “the mother of all backlogs” in a recent conference call with Wall Street analysts. He was defending sales of just 4.69 million iPads during fiscal 2011 second quarter, which is below the 6-7 million consensus and the 7.33 million units shipped during the December quarter, even though the new iPad 2 was only on sale during the quarter’s last two weeks....