According to Ticonderoga Securities analyst Brian White, by lunchtime there was not a 4S to be had in the Hong Kong Apple Store. Other reports say the device sold out in about three hours. Not a surprise, really, given that preorders sold out in just 10 minutes. Before its doors opened this morning, crowds had been lining up for more than 24 hours outside Hong Kong’s flagship Apple store. Below, video of that enormous queue.

[Image credit: M.I.C. Gadget]

“Early signs from interest at Apple stores, coupled with Apple’s announcement of over 600,000 pre-orders, leave us increasingly confident in our June and Sept. quarter iPhone unit estimates (both at 9.5 million),” Munster said in a research note. “Our best guess is that Apple reserves about half of the units for pre-orders (mail delivery and in-store pick up) and half for in-store purchases (walk-ins), implying total sales for the launch (including the 600,000 already announced for online and first three days) of between 1.0m to 1.5m. This would be the biggest iPhone launch (compare to 3GS at 1 million).”

Piper Jaffray analyst Gene Munster checked in with 50 U.S. Apple retail stores and found the iPad sold out or in limited supply at many of them.

“74 percent of the stores we checked were completely sold out of all iPad models. 26 percent had some WiFi models in stock, and no stores had any 3G models available,” the analyst reports.

“We note that the stores have implemented a reservation system, by which customers can request to be placed on a waitlist for future iPad shipments, notified upon arrival, and given 24 hours to pick up the iPad,” Munster adds. “One Apple store representative indicated that the in-store reservation system typically takes 4-7 days.”

Given that, the fact that iPad orders made at Apple’s online store are now listed as shipping in “7-10 business days,” up from a previous range of “5-7 business days,” and the international iPad launch next week, Munster figures supply constraints will easily last through the June quarter, reaching equilibrium in late fall.

“[The iPad launch] far exceeded our expectations. We were shocked by U.S. demand,” Apple COO Tim Cook said during Apple’s last earnings call.

Evidently that continues to be the case.

[Image credit: Gizmodo commenter Ahubbuch]

At the time of this writing, Apple’s iPhone availability widget (pictured) is showing shortages of various iPhones at Apple stores across the United States. The device is completely sold out in states like Alabama, Delaware and Kentucky, where Apple (AAPL) has a limited retail presence. In others, its availability varies, though there seems to be higher demand for black phones than white.

An impressive performance, particularly at a time when consumers are inclined to be more frugal than usual.

At the time of this writing, Apple’s iPhone availability widget (pictured) is showing shortages of various iPhones at Apple stores across the United States. The device is completely sold out in states like Alabama, Delaware and Kentucky, where Apple (AAPL) has a limited retail presence. In others, its availability varies, though there seems to be higher demand for black phones than white.

An impressive performance, particularly at a time when consumers are inclined to be more frugal than usual.