Apple Inc. said Tuesday it has sold 3 million since the iPad Touch Screen Tablet PCs hit store shelves less than three months, while demand for the device continues to steam ahead.
Company Shares of electronics giant, which has surpassed Microsoft Corp. to become the world’s leading technology more valuable, rose 1.7 percent after several brokerages raised their price targets on the stock, including UBS and Kaufman Bros.
UBS raised its estimate Tuesday on unit sales for 2010 iPad 42 percent to 6.8 million against 4.8 million. “Improving the supply and international development has helped Apple to accelerate the speed at which it sells the unit, UBS analyst Maynard Um wrote in a note Tuesday.
He estimated that about 100,000 sold iPad add a penny to earnings per share. Kaufman Bros. analyst Shaw Wu raised his fiscal 2010 earnings and revenue estimates for Apple and raised its price target of $ 2 to $ 342. In the operations of the afternoon, the stock rose $ 4.63 to $ 274.80.
“We and the street continues to underestimate the demand for IPAD. Part of the reason is that the IPAD tablet form, is a relatively new product category that lies somewhere between a smartphone and a laptop, “has written.
It now expects Apple to sell 9.7 million iPad for calendar 2010. Apple has sold 1 million iPad in the first month after the launch of the United States on April 3 and has sold 2 million iPad May 31.
It has reached the 3 million on June 21, he said in a statement. In addition to the United States, IPAD is currently available in Australia, Canada, France, Germany, Italy and Japan, among other countries. It will be deployed in nine more markets in July.