Says 7.4 million iPads should ship in 2010

An analyst with Susquehanna Financial has raised a price target for Apple stock from $300 to $325, citing the iPad as a main cause. "The iPad continues to sell at a better-than-expected pace, and should be fueled by geographic expansion and expanding use cases," says Jeffrey Fidacaro. The comment is a reference to Apple topping 2 million in iPad sales, and planning to add yet more regions to its distribution scheme throughout the year. In July, places including Austria, Belgium, Ireland, Mexico, the Netherlands and New Zealand will get their first iPads.

Fidicaro is calling for Apple to sell as many as 7.4 million tablets by the end of 2010, up from an earlier estimate of 4.75 million. For 2011, the analyst suggests that Apple will now sell 14.1 million iPads instead of 8.4. EPS estimates have also been raised, from $2.79 to $2.93 for the June quarter, and from $13.23 to $13.50 for FY2010. A FY2011 EPS projection has been increased to $15.80 from $15.05.

by MacNN Staff