Tags: US | Apple | Mover

Apple Shares Rise As Ipad Sales Top 2 Million

Tuesday, 01 Jun 2010 02:41 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Shares of Apple Inc. jumped Tuesday after the company said iPads sales topped 2 million since the tablet computer launched almost two months ago.

THE SPARK: Apple gave the iPad sales update on Monday, after it started shipping iPads to nine new countries over the weekend. Earlier in May, the Cupertino, Calif.-based company had announced iPad sales had reached the 1 million mark after just 28 days on sale in the U.S.

THE BIG PICTURE: In the weeks before Apple's latest gadget went on sale, analysts and industry watchers wondered whether the iPad could be a hit among mainstream consumers — after all, many companies had tried and failed to get people excited about tablets in the past. So far, Apple has shown people are very interested the slim, keyboardless devices that can be used for a number of digital diversions, including surfing the Web, watching movies, reading electronic books and playing video games. Other consumer electronics companies are rushing to produce tablets of their own, but it has yet to be seen whether those devices will have the same allure.

THE ANALYSIS: The iPad is selling faster than many analysts expected. Shaw Wu of Kaufman Bros. wrote in a note to investors that he believes iPad sales were helped by the quick development of more than 5,000 iPad-specific apps that take advantage of the gadget's larger screen and faster processor. Wu said analysts were on average expecting 1.6 million to 1.7 million iPads sold by now.

Broadpoint AmTech analyst Brian Marshall wrote in a research note that he thinks the iPad will account for more than 10 percent of Apple's revenue in the April-June period; it took the iPhone two quarters to reach that mark.

SHARE ACTION: Apple's shares rose $7.41., or 2.9 percent, to $264.29 in afternoon trading.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Pay-Per-View Economics May Not Add Up for Sony’s ‘The Interview’

Friday, 26 Dec 2014 18:20 PM

The economics of pay-per-view suggest Sony Pictures will have a hard time generating enough revenue to recoup the estima . . .

Sony's PlayStation Offline, Micosoft's Xbox Restored in 'Hack'

Friday, 26 Dec 2014 16:36 PM

Microsoft's online network for its Xbox gaming console was restored to nearly full service Friday after an alleged coord . . .

Streaming Release of 'Interview' Test for Industry

Thursday, 25 Dec 2014 10:16 AM

Sony's The Interview has been a hacking target, a punchline and a political lightning rod. Now, with its release onlin . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved