Analyst Expects 30 Percent Higher iPad Sales in 2010


Credit: f-l-e-x/Flickr
Credit: f-l-e-x/Flickr

Almost a week before Apple is expected to begin selling the iPad, an analyst has increased this year’s sales estimate for the tablet device by 30 percent. Apple may also release a new iPhone in June, along with seeing a 17 percent jump in Mac sales, the analyst adds.

BMO Capital analyst Keith Bachman told investors Thursday his initial estimate of 2.5 million iPads sold this year “may be conservative.” In addition, Bachman raised his estimate for 2011 iPad sales to 7.2 million, up 30 percent from his earlier prediction of 5 million.

The higher estimates were based on a number of factors, including Bachman’s belief the iPad could take 35 percent to 40 percent of the growing tablet and e-reader market. The iPad could grab 11 percent of the 40 million netbooks sold this year, the analyst added. Speaking of netbooks, Bachman said low-powered netbooks using Windows 7 take at least 2 minutes to boot-up.

The analyst also sweetened his expectations for Mac sales for the September 2010 quarter. Bachman estimated Apple will sell 12.7 million Macs during the period, up from 12.3 million previously projected. A nearly 1 million increase is expected in 2011 to 14.9 million Macs, up from 13.8 million.

Bachman raised his price target for Apple shares to $265, up from $250.

[via Barron’s and Fortune]