Analysts at Deutsche Bank are now predicting Apple (NASDAQ: AAPL) will sell 29 million iPad units by the end of 2011 after Apple issued a press release stating that they had sold 3 million iPads during the first 80 days of sales.
The analysts said that sales will remain strong as the international roll-out of the iPad continues. Deutsche Bank analysts boosted their estimate of 2010 iPad Sales from 5 million to 12 million and its 2011 estimates from 7.5 million to 17 million units.
Apple is at the beginning of what Deutsche Bank analysts believe to be “the strongest product cycle in the company’s history.” The firm said that there has been “incredibly robust” demand for the iPhone4 and is now predicting that 44 million iPhones will be sold in 2010 and 55 million will be sold in 2011.
Piper Jaffray analyst Gene Munster also reacted to Apple’s new sales numbers, saying in a research note that “investors are under appreciating the global opportunity of the iPad as the “Mac for the masses.” Munster believes Apple is now selling about 37,500 iPads per day and predicts that Apple will sell 7.5 million iPad units in 2010 and 9 million units in 2011.
Kaufman Brothers also weighed in saying that the Street continues to underestimate demand for the iPad. Their analysts commented that “Part of the reason is that the iPad, as a tablet, is a relatively new product category where it fits in between a smart phone and a notebook PC.” Kaufman analysts are predicting that Apple will ship 9.7 million iPad units in 2010 compared to their previous estimate 8 million.
[...] Apple announced in a press release on Tuesday that it has sold three million iPad units during the first 80 days of sales. Apple has now made more than $2 billion in revenue off of iPad sales based on an average sale price of $650-700 including accessories. Another report suggested that Apple is selling 1.2 million iPads per month. Analysts reactive positively to the news and now Deutsche Bank analysts predict that Apple will sell more than 29 million iPads by the end of 2011. [...]
[...] success of Apple’s iPad, which sold three million units in its first 80 days of sales and is projected to sell as many as 29 million by 2012, has created downward pressure on the pricing structure of standalone [...]