Consumer Electronics
Apple iPad Figures Out; Under Some Targets (AAPL)
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Apple Inc. (NASDAQ: AAPL) has released some first-day sales figures on the iPad. The numbers are huge and above the initial projections we were using of 250,000 to 300,000, but at the same time this will fall short of that huge 700,000 unit sale figure projected by Gene Munster of Piper Jaffray.
Apple said that it has sold more than 300,000 iPads in the US as of midnight Saturday, April 3… its first day. These sales DO include deliveries of pre-ordered iPads, deliveries to channel partners and sales at Apple Retail Stores.
Apple also announced that iPad users downloaded over one million apps from Apple’s App Store and over 250,000 ebooks from its iBookstore during the first day.
Steve Jobs even said that iPad users downloaded more than three apps on average and close to one book within hours of unpacking their new iPad.
At 8.31 AM, JPMorgan upped its Apple price target to $305.
Apple was up, but now shares are down 0.8% at $234.10 on last look.
JON C. OGG
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