After Apple’s financial conference call yesterday, the company announced that it had sold an incredible three million third generation iPads from March 16th to March 19th, a huge step up from the 500,000 to 1 million that were sold during the iPad 2 release.
According to Piper Jaffray analyst Gene Munster, 3 million sales exceeded even Apple’s own expectations. If sales continue at the current rate, the Cupertino-based company is set to sell 12 million iPads during March, with its year over year growth reaching 156 percent.
There’s no doubting that Apple will maintain its share of the tablet market through the next three years. Munster is predicting that Apple will sell a total of 66 million iPads in 2012, and 176 million by 2015. At that point, tablet sales will begin to eclipse even PC sales.
“We believe that the unprecedented ramp of the iPad over the past year is evidence that the tablet market will be measurably larger than the PC market,” Munster said, in a note to investors.
Apple’s sales sparked J.P. Morgan analyst Mark Moskowitz to call the iPad launch “staggering,” and Shaw Wu, of Sterne Agee, increased his price target for AAPL stock to $740, up from $620.
With the new iPad’s Retina display, faster processor, and LTE speeds, it’s no surprise that analysts predict that tablets will overtake PCs in the coming years. We’re already well on our way there. Slap a keyboard on an iPad, and you’ve got yourself a robust laptop alternative.
Have you been able to replace some of your laptop’s functionality with your iPad? Do you think we will be able to ditch fully-fledged computers for tablets in the future?