Monday, May 31, 2010

Two Million iPads Sold Through May, AAPL Revenue Record Ahead

Earlier today Apple announced two million iPads had have been sold since the product's  April release. I estimate the company is on track to sell three million (or more) iPads in the June quarter, positioning the company for record revenue.
The early success of the iPad sets the stage for three consecutive quarters of record revenue and earnings per share. I expect Mac sales to continue the pace of unit sales growth experienced in the March quarter and for the company to reach $65 billion in revenue this fiscal year with September quarter revenue reaching as high as $20 billion.
In April I posted an updated 12-month price forecast for AAPL and suggested the shares will reach between $300 per share and $325 by the end of July and to move above $400 per share by late April 2011. I stand by those forecasts as the two million iPads sold to-date are in range of my original forecasts and expectations.

Robert Paul Leitao 

1 comment:

  1. RPL......I think that the new iPhone could be an unknown factor in estimating revenue through the rest of the year. My guess is that it will be a nice 'surprise'!