“Most stores we contacted reported strong follow-through sales last week and have received ‘re-stocks’ following the initial launch,” says McKechnie. “We had guesstimated ~ 200k Verizon-only ‘sell in’ prior to the launch. We now expect at least another 200k by Black Friday and 150-200k through the remainder of the holiday season, which gets us to our 600k forecast for the quarter. All stores appear ‘well stocked’ with none reporting shortages….Our checks with stores indicate no issues with returns of the Droid.”

Evidently, Verizon’s Droid saturation campaign, with a budget estimated at $100 million, is paying off–despite its impersonal sci-fi positioning.

Cuts at Adobe (ADBE) will occur worldwide and are intended to bring costs in line with its 2010 budget and “the realities of the business environment,” the company said in a statement. They follow a similar round of cuts made in 2008 that claimed the livelihoods of about 600 people.

“Demand for converged mobile devices has remained strong all year,” said IDC analyst Ramon Llamas. Driving that demand: Nokia (NOK), which maintained its position as the overall leader in the converged mobile device market, Research In Motion (RIMM), whose BlackBerry made some significant share gains internationally, and Apple (AAPL) and the iPhone, whose share of the smart-phone market rose to 17.1 percent from 16.6 percent in the previous quarter (see table below; click to enlarge).

“Apple reached its highest volume yet in a single quarter,” Llamas said. “The nearly global availability of the iPhone 3GS sparked another round of annual replacements for Apple loyalists, while the lower price on the iPhone 3G put the device well within reach of customers wary of the price. Although the iPhone has struggled within emerging markets, its arrival at China Unicom this year could foreshadow greater shipment volumes.”

[Image credit: AMUSEMENT]

Welcome news, considering that back in June, SIA was calling for chip sales to fall 21 percent.

“The new forecast is brighter than our earlier projections, reflecting an improving global economy,” SIA President George Scalise said in a statement. “Unit sales of key demand drivers–including PCs and cell phones, which together account for about 60% of semiconductor demand–have been stronger than previously predicted. We remain cautiously optimistic for the longer term. The current forecast is closely tied to projections of continuing improvement in the worldwide economy.”

Third-quarter chip sales totaled $61.9 billion, down 10.1 percent from the same quarter last year, but up nearly 20 percent from the second quarter of 2009. No doubt about it, the market for chips is improving (see chart below; click to enlarge).

“Global semiconductor sales in the third quarter were above expectations,” SIA President George Scalise said in a statement. “September sales were in line with historical patterns, reflecting increased demand from end-users as they began the build for the holiday season.”

“Amid signs that we are in the early stages of recovery in the global economy,” Scalise added, “semiconductor sales continue to reflect normal seasonal patterns. Sales are running well ahead of the worst-case scenarios projected early in the year, and we are optimistic that total sales for 2009 will be better than our mid-year forecast.”

Sales are running well ahead of the worst-case scenarios? Well, I suppose any reassurance is a good one when your industry is down 10 percent year-over-year.

In a note to investors today, Oppenheimer analyst Yair Reiner warned that supply-chain issues may have prevented Apple (AAPL) from selling the seven million iPhones consensus estimates have been predicting. “During the iPod event on Sept. 9…Apple implied that ~3.5M phones had been sold with only 21 days left in the quarter,” Reiner wrote. “Subsequent checks showed the iPhone 3GS sold out in many markets. Something was clearly preventing Apple from shipping to demand.”

Apple was able to resolve those issues, but they lasted long enough that Reiner fears consensus estimates implying that the company sold an additional 3.5 million iPhones in the final weeks of the quarter may be a bit too aggressive.

That said, it’s worth noting that Piper Jaffray analyst Gene Munster pointed out the same supply issues in a research note of his own earlier this week and came to a very different conclusion. Munster is calling for iPhone sales of about 7.5 million units in the Sept. quarter.

Who’s right? We’ll find out Monday, when Apple reports earnings.

As the analyst notes, NPD data for the first two months of the September quarter show Mac sales up about seven percent year over year. iPhone sales are even more robust.

“Our checks indicate that worldwide demand for the iPhone 3GS is outstripping supply,” Munster writes. “This strong level of demand, we believe, will support unit sell-through of about 7.5m units in the Sept. quarter.”

Continuing, Munster notes that “PJC Wireless Analyst Mike Walkley’s checks for the first two months of the Sept. quarter indicated constraints at retail for the iPhone 3GS. We have also seen signs of constraints in international markets. Media reports indicate that the CEO of wireless carrier 3 Italia indicated that the company is selling 20k iPhones per month, but could sell more than double that amount if it had adequate supply.”

If this is problem, Munster asserts, it’s a fleeting one: “While supply constraint is a issue near-term, we see it as a long term positive, as worldwide demand appears to be very strong for the iPhone 3GS.”

In quarters past, Apple has guided revenue four percent below Street expectations on average and earnings-per-share 12 percent below Street expectations. But the company’s actual results have typically beaten those estimates by an average of three percent on revenue and by 24 percent on earnings per share. Munster expects this to be the case again when Apple reports earnings on Monday.

Over at RBC Capital Markets, analyst Mike Abramsky sees Apple’s forthcoming earnings report playing out in much the same way for largely the same reasons. “Checks show that the iPhone 3GS is the most popular Smartphone at AT&T and other global carriers (e.g., O2 UK, Rogers),” he wrote in a note to investors today.

“Despite launch in June,” Abramsky added, “some models of the iPhone 3GS were stocked out at Apple retail stores and carrier stores through Q4; however, checks show retail availability appears to have improved early September. While sell-through of the prior-gen iPhone 3G has been slow at AT&T since the launch of the iPhone 3GS, we believe the $99 iPhone 3G is gaining traction outside North America given lower upfront cost (important where prepaid is high).”

Posting third-quarter results Tuesday, Intel (INTC) said it earned 35 cents a share on revenue of $9.39 billion. That’s not quite what the company reported during the same period last year, when it saw earnings of 35 cents a share on revenue of $10.2 billion. But it’s much better than investors had been hoping for. Analysts had expected Intel to report earnings of 28 cents a share on revenue of $9 billion, according to a consensus survey by FactSet Research.

Not bad. Even better, the company bumped up its fourth-quarter guidance from sales of $9.7 billion to sales $10.6 billion. Consensus estimates have been calling for sales of $9.5 billion, according to FactSet Research data.

Intel’s rosier Q4 guidance suggests that the slow increase in end-market demand for PCs we’ve been seeing lately isn’t simply inventory refill but reflects an upswing in demand for end-customer goods. Perhaps that turnaround CEO Paul Otellini has been heralding for the last half year is not as far off as it might seem.

“Intel’s strong third-quarter results underscore that computing is essential to people’s lives, proving the importance of technology innovation in leading an economic recovery,” Intel CEO Paul Otellini said in an earnings release. “This momentum in the current economic climate, plus our product leadership, gives us confidence about our business prospects going forward.”

According to the CTIA, there are more than 246 million wireless data-capable devices at large in the U.S. today. Of these, 40 million are smart phones or PDAs, and more than 10 million are laptops. Little wonder that wireless data service revenue rose 31 percent to more than $19.4 billion in the first six months of 2009.

Revenue will no doubt continue that trend in the months ahead as wireless devices become more ubiquitous. Wireless carriers, then, would be wise to put some of their windfall toward building out their networks to cope with future demand lest they end up the butt of a joke in a rival’s advertisement.

Consider these remarks from Federal Communications Commission Chairman Julius Genachowski, spoken Wednesday at the CTIA wireless industry convention in San Diego: “We are fast entering a world where mass-market mobile devices consume thousands of megabytes each month. So we must ask: what happens when every mobile user has an iPhone, a Palm Pre, a BlackBerry Tour, or whatever the next device is? What happens when we quadruple the number of subscribers with mobile broadband on their laptops or netbooks? The short answer: We will need a lot more spectrum. The biggest threat to the future of mobile in America is the looming spectrum crisis.”

“Notwithstanding the slow recovery of demand from the enterprise sector, we are encouraged that industry momentum has turned positive following the steepest downturn in more than a decade,” said SIA President George Scalise.

Great news were it not for the fact that at $19.1 billion, August sales were down a horrific 16.1 percent year-over-year. Furthermore, for the first eight months of 2009, sales are at $133.8 billion–about 21.3 percent below this time last year.

So while it’s wonderful that we’re seeing these sequential improvements, it’s important to remember that the industry is still fairly deep in the abyss and has a long way to go before it climbs out.

Rabid demand for the iPhone has emptied not just the company’s physical retail outlets, but its online store as well. “We continue to see extremely high levels of demand for the iPhone which means it comes in and out of stock very quickly and will be why the Web site hasn’t had any since Monday,” an O2 spokesperson told the Telegraph.

News of the shortage comes just days after O2 rivals Orange and Vodafone both announced plans to carry the iPhone later this year, bringing an end to O2’s exclusivity deal with Apple (AAPL). If Apple is unable to meet consumer demand with just a single U.K. carrier, how will it cope with three?

A reasonable question, but one for which Apple presumably has an answer. Said Forrester (FORR) analyst Mark Mulligan, “I don’t think [Apple] would expand if it couldn’t meet consumer demand, as that would lead to extreme consumer dissatisfaction–which compared to its peers, Apple is usually good at avoiding.”

“We believe the press reports late Thursday afternoon that Verizon would not launch the Palm Pre are incorrect,” Goldberg wrote. “Our checks continue to point to healthy carrier demand for the Pre early in calendar 2010. We believe Palm has placed orders with the supply chain for another version of the Pre with features highly consistent with a Verizon launch.”

Over at Morgan Keegan & Co, Tavis McCourt was equally dubious. “Palm reiterated its FY2010 guidance, which we believe REQUIRES a launch at Verizon (you just can’t get there with just Sprint and AT&T),” he wrote. “Verizon has carried just about every Palm product in its history, and the Pre is clearly the best. We do not have insight as to the marketing support Palm will get from Verizon, but we see little risk in not getting a placement at this carrier. The timing of the rumor post-deal makes it equally as dubious as the timing of the ‘Nokia will buy Palm’ rumor during the roadshow.”

McCourt, it’s worth noting, believes the Pre will come to Verizon Wireless early next year. “Feb. holds the potential to be a strong Pre quarter as shipments to Sprint likely stabilize and distribution expands to Verizon Wireless (our assumption),” he explains. “Palm’s success at Sprint has typically been a good barometer for shipment trends at VZW and, with a postpaid sub base that’s roughly 3x as large as Sprint’s CDMA business, the market opportunity at VZW is much larger. However, Pre trends at Sprint were aided by the device’s near term exclusivity and a large base of existing Palm users upgrading their devices, both factors that VZW lacks.”

UPDATE: Jim Gerace, executive director of media relations at Verizon, tells E-Commerce Times that the company will offer the smartphone in January as planned.

UPDATED: Sources are telling Boy Genius that TheStreet.com’s report is bogus as well.

“A significant number of buyers–21 percent (3,100 respondents)–would be interested in purchasing a Mac tablet priced at $500-700,” RBC analyst Mike Abramsky wrote in a message to clients this morning. He noted as well that this is far above the nine percent who professed to be interested in the original iPhone in an April 2007 survey. The promising early interest illustrates the market opportunity for a Mac-based tablet, Abramsky said.

Assuming, of course, Apple (AAPL) plans to bring one to market.