Analyst: Apple Underestimated Initial iPad Demand

You didn't really think the iPad was going to flop, did you? If early reviews are any indication, Apple is getting off to a great start, a notion echoed by Piper Jaffray analyst Gene Munster. According to Munster, Apple will likely sell between 200,000 and 300,000 iPads this weekend, which is roughly on par with the original iPhone, which sold 270,000 at launch.

"When Apple began taking pre-orders customers could pro-order for home delivery on April 3 or in-store pickup on April 3," Munster explains. "A week before the launch (on March 27) the company pushed back the shipping date to April 12 and ended the in-store reservation program for the launch. And in preparation for the launch, on March 31 Apple retail stores began calling those with iPad pickup reservations to confirm the reservation."

Munster believes it all adds up to stronger initial demand than what Apple was expecting or fully prepared for. He also believes that his initial estimates of 900,000 iPads sold in the June quarter and 2.7 million this calendar year are probably a bit conservative.

"Ultimately, both strong demand and somewhat constrained supply appear to be resulting in the fact that Apple is selling every iPad it can build."

Anyone surprised by the initial demand? Still think the iPad will flop? Post your thoughts in the comments section below.