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iPad fails to sell out

Apple iPad lake sml
Apple iPad lake sml

Apple_iPad_lake_smlAccording to analysts, Apple sold close to 700,000 iPads during its first weekend on sale in the US. However, most stores did not sell out of the device.

Gene Munster, an Apple-friendly analyst at Piper Jaffray, said that situation is actually a good thing for the technology company.

“It always sounds good when they sell out, but it’s best for business if they have longer-than-expected lines and units people can buy,” Munster said.

Most analysts have now raised their overall forecasts for iPad sales in 2010.

Depending on which analyst you believe, the estimates now range between 5.5 million and 7.1 million total sales for 2010.

Research also shows that most new iPad users are already fans of Apple products.

According to a Piper Jaffray survey of iPad buyers, approximately 75 per cent of those purchasing the tablet PC already owned a Mac, while 66 per cent already own an iPhone.