Analyst ups iPad sales estimate by 30%

BMO Capital's Keith Bachman is bullish on Apple, and not in a small way. After bumping his target price for AAPL from $250 to $265 (keeping in mind that it's hovering around $227 now), he sent out a letter to clients cited by Phil Elmer-DeWitt at Apple 2.0 that explained the rationale behind the renewed optimism.

Along with upside anticipation for Mac and iPod sales, Bachman gave a major collagen injection to his iPad sales projections. He's now considering his original fiscal 2010 target of 2.5 million iPads sold to be a conservative number, and he's looking at a possible 7.2 million devices moved for FY 2011. Considering he was originally citing a 5.5m outlook for 2011, that's a big shift, and it gets him more in line with estimates from Gene Munster and other analysts.

Bachman bases his new numbers on his confidence in continued growth for both the ereader and netbook market segments, and Apple's ability to pick up more than 1/3 of the total sales in that space for 2010. It's a positive forecast -- and you have to think that Barnes & Noble, Sony and Amazon's potential customers are strongly considering iPads as an alternative to ereader-only purchases -- but it might be overenthusiastic to start counting those chickens before the iPad has a chance to spend a little time in the hands of real users.

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Source: http://brainstormtech.blogs.fortune.cnn.com/2010/03/25/bmo-u…

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BMO Capital's Keith Bachman is bullish on Apple, and not in a small way. After bumping his target price for AAPL from $250 to $265...

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Vishtor

Absolutely floored at this

Never thought the iPad would get this much hype and sales at first

Amazing how great Apple is at hyping projects and their products

March 27 2010 at 9:54 PM Report abuse Permalink rate up rate down Reply

Bill Mac

Love the Headline:

"We've upped our estimates.... now up yours!"

:)

March 26 2010 at 5:55 PM Report abuse Permalink rate up rate down Reply

tuaw

A big reason the iPad will be more popular than e-readers like the Kindle and Nook is that folks will have a choice of where to buy their books, since Amazon, B&N and Apple will have their own reader apps from day one. And that should help with e-book price competition down the line.

March 26 2010 at 5:43 PM Report abuse Permalink rate up rate down Reply

Dakk

The new "First" to comment sections everywhere ... a blatant and pointless spam comment for the person's product (this one) ... or a completely unrelated post tagged with somethinglike.something-privacy.tr

sigh ...

March 26 2010 at 2:42 PM Report abuse Permalink rate up rate down Reply

Mike

This is great. Keep buying. I can't wait till the prices drop so I can get mine. Apple just needs to recoup some capital from the early adopters. No problem with that, my patience has kept me on the edge of buying so I can understand wanting to buy even at intro prices.

March 26 2010 at 1:59 PM Report abuse Permalink rate up rate down Reply

1 reply to Mike's comment

Brett

As great as a quick price drop would be, like what happened with the iPhone... I can't picture the same thing happening here.

I really really really hope I'm wrong.

March 26 2010 at 6:11 PM Report abuse Permalink rate up rate down Reply

heathsnow

I'm looking forward to getting mine, I could care less how many are sold (I have no Apple stocks).

I opted for the 64GB WiFi only version. My iPhone serves me well as an always connected device but I look forward to seeing how the iPad serves as an eReader. I may have bought my last physical book last week :)

March 26 2010 at 1:31 PM Report abuse Permalink rate up rate down Reply

1 reply to heathsnow's comment

Brett

As a non-stock holding user, it's still in your best interest to have Apple sell a ton of these. The more iPads in circulation, the more temptation companies will have to develop iPad-specific apps, the more useful/fun/innovative your iPad becomes.

March 26 2010 at 6:09 PM Report abuse Permalink rate up rate down Reply

Rego

"but it might be overenthusiastic to start counting those chickens before the iPad has a chance to spend a little time in the hands of real users."

Not if you understand what the iPad is and how revolutionary it it is. It's the future of computing!

March 26 2010 at 1:24 PM Report abuse Permalink rate up rate down Reply

2 replies to Rego's comment

Jon

I think you forgot the /s

March 26 2010 at 2:58 PM Report abuse Permalink rate up rate down Reply

Adam

Stop talking to yourself Jon

March 26 2010 at 3:20 PM Report abuse Permalink rate up rate down Reply