PS4 is sold out for 3 stock drops.
I've heard rumours that the stock drop expected on the 20th of December is going to fall short of pre-ordered 2nd drop numbers (there aren't going to be enough) and that third drop which was due early January is looking like being pushed back to March.
A complete disaster for the PS team here. Microsoft have tons of stock in channel and are just continuing to pump it in.
It does seem like MS is winning the supply race, people are saying there's a large wait for a PS4 depending on market. The XB1 seems to go out of stock for a short time and then a new batch hits the channel.
Sony decided to do a much broader launch than MS, which is why MS appears to be winning the supply race in the US and other major markets they know they have a chance to capture large share. While this means that supply is spread thinner, Sony is playing the larger game of appeasing more markets. People who really want a PS4 will wait around for one. After all, this generation of consoles is expected to last at least until 2020.