Apple analyst notes iPad wait times have shrunk, a signal of possibly fading demand

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Apple analyst notes iPad wait times have shrunk

LOS ANGELES — 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.

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.