Analyst Forecasts Apple Will Sell 28 Million iPads Next Year
AppleInsider reports today on the findings of an analyst who believes that Apple will sell at least 28 million iPads in 2011. Maynard Um, an analyst with UBS Investment Research, issued an investors’ note this week, upping his AAPL stock price target to $350 from $340. Aside from Um’s sales forecast, the main thrust of his report appeared to revolve around his findings that the iPad is “adversely affecting the PC industry”.
In his report, Um stated that notebook sales are suffering at the hand of the iPad, hence the recent surge of would-be “iPad killer” tablets. Um also believes that the iPad is mainly hurting the lower end of PC sales with its competitive pricing.
Whilst Um acknowledges that the iPad’s functionality still falls short of that of notebook PCs, he ventures that someone who has just bought an iPad may well be more likely to delay purchasing a PC or upgrading their current PC. Um also notes that there is no evidence that the iPad is having any sort of adverse effect on Mac sales.