Apple Sells 300,000 iPads On Opening Saturday, Stock Bar Gets Raised - HotHardware
Apple Sells 300,000 iPads On Opening Saturday, Stock Bar Gets Raised

Apple Sells 300,000 iPads On Opening Saturday, Stock Bar Gets Raised

Wow Apple, you've done it again. And by that, we mean "sold an awful lot of things to an awful lot of people." Even with launching during a holiday weekend, Apple somehow managed to sell over 300,000 iPads on the first day in the United States. That's a lot of devices, and even the original iPhone didn't have as many buyers on the first day. But honestly, it's not Apple that we're most excited about here.

But we'll still focus on them for a second: the 300,000 number includes deliveries of pre-ordered iPads to customers, deliveries to channel partners and sales at Apple Retail Stores. According to CEO Steve Jobs: "It feels great to have the iPad launched into the world -- it's going to be a game changer. iPad users, on average, downloaded more than three apps and close to one book within hours of unpacking their new iPad."



The company also noted 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, and now Canaccord Adams technology analyst Peter Misek has raised his price target on Apple to $300 from $250 or 20%. What's interesting is that weekend estimates had opening sales at 600,000 or 700,000, but even with real numbers coming in at just 50% of that, analysts are still going nuts. This report found that there were widespread sell-outs at Best Buy (these stores likely got fewer devices), but Apple store stock still seemed to be high.

As we mentioned earlier, this good news for Apple is actually good news for the industry. This basically proves that the tablet PC has found a home, even though this form factor was largely overlooked just a few years ago. We're eager to see the new tablets from all of these other companies in the coming months, which will hopefully push Apple to enable native multi-tasking to compete with the ones that will presumably be based on Windows 7 and/or Android. Still not excited about the future of touch computing? You should be.


Canaccord Adams technology analyst Peter Misek  raised his price target on Apple to $300 from $250 or 20%.

“Our survey and channel checks indicated widespread sell-outs at Best Buy stores, however Apple stores appeared to have more stock and thus continued to have inventory. We believe that around 700K iPads were sold so far, including 500K of pre-orders,” Mr. Misek said.

He added that, “We also took this opportunity to channel check Apple’s other product lines and, as a result, are adjusting our shipment estimates for iPads as well as iPhones and Macs.”

- iPad shipments for FY10E and FY11E go
to 3.7 million and 11.3 million from 1.2 million and 3.5 million
respectively
- For iPhones we are now forecasting 35.2 million (vs. 34.9
million) and 54.9 million (vs. 52.3 million) device sales in FY10 and
FY11.
- For Macs, our estimates climb to 4.3 million (vs. 3.9 million) and
4.7 million (vs. 4.1 million) for FY10 and FY11 respectively.
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So they sold half of what was expected and it is a great thing?

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I guess that's considered good seeing the hate against it :P and all these bad reviews affected not all of them :D

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If you think the less than half estimated sales is funny, check out the return rates.  Seems the number one thing people are upset about is lack of... a USB port.

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Any idea where I can find the statistics on the return rate? I'd be interested in seeing it.

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It was in my local paper today, I would have to search for it online.

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The statistics for iPad returns would be interesting.

But just focusing on sales, it sounds like it did well on opening day. If you think about it optimistically, if you did as well as the iPhone launch, this iPad can become just as great in the future.

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Isn't that the exact number that they produced!! remember they said they didn't have enough, underestimated?

They produced only this many for what,... the 300Million people in the US alone. Then they over hyped it and now this is a good thing that they sold this many?

I guess this all looks good for the shareholders. But what happens when reality sets in!

Oh..that's right, they will roll out the ones that people can actually use at an even higher price. the ones they should have released in the first place.

Hopefully by then everyone will have wised up and start buying the HP slate and all the others coming down the pike.

I guess its a good thing that the IPad can display AU-79 in HD, because after you mindlessly give all your money to the Turtleneck Tyrant. That is exactly what you wont have! :P

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you have got to give it to Apple, they have a true following on loyal users. This will be put to the test though when Asus and others deliver their version of an ipad.

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The iPad seems to be a pretty useless product for loyal Apple customers, and the new Asus/HP tablets don't really improve on it.

iPads will sell more as the upgrades to the firmware come out, but there will also be tons of returns in the first month.

The iPad is basically an oversized iPhone.  It has equal space, equal capabilities, and you still have to pay for the 3G network.  Obviously there's wireless network capabilities, but then why not get an iTouch?  Is spending another $500 really worth upgrading your iTouch/iPhone to a bigger screen?  Might as well get a TV.

The problem with tablets is that they need to aim to replace laptops, not just tablets in general.  If they had something like a Microsoft Office application, or a USB port (a problem everyone is pointing out), then it would be a great sell especially to the college student market.  However, there's just no need for someone to get an iPad if they already have an Apple product, and at this point most of the market is already sold on Apple and owns an iPod/iPhone, or they hate Apple and make an effort not to buy their products.  The whole idea sounds cool, and 300,000 were willing to try it out.  But I won't be surprised if half of them realize that the only thing that makes the iPad innovative is it's amazing battery life, and the limited capabilities of the device leads to massive returns.

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It's funny how branding works.

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MrBrownSound:

It's funny how branding works.

 

I think it is very interesting how branding works. For the most part, you buy a brand as much as you buy a product. Brand image guides consumers to what they purchase. It doesn't have to be a big purchase like an iPad. It could be something as small and insignificant as toothpaste. You go out and buy toothpaste but you are overwhelmed by the different brands and the many choices that each brand offers. You decide to buy Crest because you either recall the commercial or the packaging looked nicer and claimed better benefits.

 

Now imagine a person buying a computer. Most likely, they saw the Mac ads. If money wasn't a big issue, they would more than likely buy the Mac. Why? It may or may not be better than the Dell or HP sitting next to it. It is because the consumer is making a choice based off of his or her knowledge. The source of that knowledge was the Mac ads on TV.

 

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