IPad sales may have far exceeded expectations
CALIFORNIA -- Apple Inc. probably sold more than twice as many iPads as expected in its debut weekend, an industry analyst said after surveying stores.
The iPad's initial sales may have reached 700,000 units, Piper Jaffray & Co.'s Gene Munster said. Munster had predicted sales of 200,000 to 300,000. Sanford C. Bernstein & Co.'s Toni Sacconaghi had projected 300,000 to 400,000.
The device went on sale Saturday. Lines at five stores surveyed by Piper Jaffray were longer than expected, yet Apple had iPads available all day, signaling that the company produced enough devices to fulfill initial demand.
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"Sales held relatively steady during the day," said Munster, who bought a $499, 16-gigabyte model for himself. "I have high expectations."