Apple Projected to Have Sold 20 Million iPads in Q3
Apple's iPad sales for the quarter that ended two weeks ago could be substantial. Well respected analyst Charlie Wolf with Needham & Company told investors Thursday that he upped his June iPad shipment forecast by almost double to 20 million units. Saying that his earlier estimates were "hastily formulated," Wolf now believes that Apple had an immensely successful quarter with its third-generation iPad.
"In our view, it's only a matter of time before iPad shipments exceed iPhone shipments," Wolf asserts. "The iPad is invading the business market at a much faster pace than the iPhone. In addition, the iPad will launch in China on July 20th. This should provide a significant boost in sales now that Apple is providing Chinese languages and services on its iOS platform."
During the same quarter in 2011, Apple sold just south of 10 million iPads. Such a jump year-over-year would give a huge boost to Apple and its stock going into the last half of 2012 where new products like a next-gen iPhone and iPad Mini could take the world's most profitable company to stirring new financial heights.
We will see where the rumors meet reality later this month when Apple reports Q3 earnings on Tuesday, July 24, at 2 p.m. Pacific.