In a visit to the New York Stock Exchange with his nephew on Wednesday, Apple (NASDAQ:AAPL) CEO Tim Cook unsurprisingly had a difficult time avoiding the media. While he refrained from providing any updates on the company, he did say the company's AirPods have been a "runaway success," according to a CNBC tweet.
After they finally launched on Dec. 13, over three months after they were first unveiled, the company quickly sold out of them. Based on Cook's comments on Wednesday, high demand seems to be at least part of the reason.
Cook says the company is making AirPods as fast as it can, as Apple aims to catch production up with demand. The company's website currently says customers who order in the U.S. today will have to wait six weeks before their AirPods ship.
Does it matter?
The apparent success of Apple's AirPods probably won't have a meaningful impact on the tech giant's financial results, even if Apple were to catch supply up to demand. With over $200 billion in annual revenue, it's unlikely the $159 product can materially affect results -- especially early in its product life cycle. For perspective, AirPods cost only a fraction of the company's average selling price for its iPhones of about $619 -- and Apple is selling over 200 million iPhones per year.
Daniel Sparks owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.