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Apple iPad sales exceed 300,000 on day one

Inventory holds up despite huge pre-orders

Easter weekend proved huge for Apple as sales of the iPad reportedly blasted past half a million units sold. Though the weekend's total numbers have yet to be confirmed, industry analysts are claiming the iPad sold between 600,000 and 700,000 tablets. Apple itself said that it sold more than 300,000 iPads on the first day.

"It feels great to have the iPad launched into the world - it's going to be a game-changer," said Apple CEO Steve Jobs in a press release. App and eBook sales were also stellar: "iPad users, on average, downloaded more than three apps and close to one book within hours of unpacking their new iPad."

Huge lines and thousands of pre-orders still didn't wipe inventory clean, according to the Wall Street Journal. "Unlike what happened at the 2007 debut of Apple's iPhone, few stock outages were reported." It's important to take into consideration that many Apple and Best Buy stores were closed on Easter Sunday, which would have impacted total sales.

For Wall Street types, Apple stock is expected to soar partially due to iPad sales. According to Mark Moskowitz of J.P. Morgan Research, the December 2010 price target for Apple stock will rise to $305, up from $240.

If the fatter numbers are accurate, it's only a matter of time before the iPad reaches its millionth sale and truly becomes a jewel in Apple's crown.

See also:

Apple iPad news

Apple iPad review


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