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March 12, 2012

1 Million New iPads to be sold on Release date,10 million in Q1,2012

Data source : Asymco and BusinessInsider

Apple has  delivered another of its routine blockbusters  with the launch of the new ipad and  the company has  acknowledged that iPad stock set aside for preorders is sold out, while noting also that customer response to the device has been "off the charts.According to USA Today "Apple has since confirmed in a statement that preorders of the new  iPad has run out.The March 7th Friday's iPad launch  was  met with a huge response and that means that Apple has  just delivered  3 hits in a row  as  reports indicate that  the company will sell at least one million on the first day alone.

Analyst Gene Munster with Piper Jaffray said in a note to investors on Monday that he expects Apple will sell more than a million iPads on Friday when the new model hits shelve . According to Wall Street  analysts  Apple is expected to  sell about 10.1 million iPads in the current March quarter.  Sales of one million in just one day would exceed that projection for the three-month period. 

"That said, even if iPad sales are less than 10 (million) in (the March quarter), we see it as a win-win given investors will attribute the miss to a slowdown ahead of the new iPad and start to anticipate a strong rebound in the June-12 quarter," Munster wrote.  Back in 2010, Apple sold more than 300,000 iPads on the first-generation product's launch day. Supply for the iPad 2 launch was very constrained

For the third-generation iPad launch, Munster drew a comparison to the iPhone 4 debut in 2010. The launch of the first iPad, Apple has sold just over 55 million iPads, while the iPhone 4 debuted in 5 countries after Apple had sold over 50 million iPhones through the March 2010 quarter. 

A month after the iPad 2 was released, Apple's then chief operating officer Tim Cook said during a quarterly conference call that "staggering" demand for the device had caused the "mother of all backlogs."