“It feels great to have the iPad launched into the world — it’s going to be a game-changer,” said Apple CEO Steve Jobs in a press release. App and eBook sales were also stellar: “iPad users, on average, downloaded more than three apps and close to one book within hours of unpacking their new iPad.”
Huge lines and thousands of pre-orders still didn’t wipe inventory clean, according to the Wall Street Journal. “Unlike what happened at the 2007 debut of Apple’s iPhone, few stock outages were reported.” It’s important to take into consideration that many Apple and Best Buy stores were closed on Easter Sunday, which would have impacted total sales.
For Wall Street types, Apple stock is expected to soar partially due to iPad sales. According to Mark Moskowitz of J.P. Morgan Research, the December 2010 price target for Apple stock will rise to $305, up from $240.