Apple Sells 700,000 iPads Opening Day, Report Suggests

Even before many reviews of the iPad have been unveiled, die-hard Apple devotees have scooped up an estimated 700,000 units of the much-anticipated handheld device.

According to a report by Gene Munster of tech analyst firm Piper Jaffray, it's estimated Apple sold between 600,000 and 700,000 of its iPad devices just this past Saturday, alone (including presales). The number more than doubles the senior analyst's earlier forecast that between 200,000 and 300,000 units would move out on that first day of availability. (Source: cnet.com)

iPad Beats iPhone Release

Evidence of the iPad's popularity could be seen right on the streets of New York City, where over 700 people lined up at Apple's popular Fifth Avenue location to get their hands on the device. Far fewer stood in line for releases of the iPhone or iPhone 3GS, products that have since become exceptionally popular.

Overall, according to Munster's estimates it would appear the iPad outsold the iPhone. In 2007, he said the Cupertino-based firm moved about 500,000 iPhones the first weekend of its release. Later numbers from Apple suggested the actual total number of iPhones shipped was closer to 1 million. It's possible Munster, who bases much of his estimates on multiplying NYC-based sales, is slightly off again this time.

iPad Sales Expected to Hit 7M Each Year

Surprisingly, it would appear most stores still have the iPad in stock. A poll by Munster of 20 Apple stores nationwide found all but one still had some in stock. Reports from Twitter suggested more sell-outs amongst U.S. Best Buy locations.

It's expected that Apple will sell over 7 million iPads before the end of the year, worldwide. That pace of 7 million each year is expected to continue into 2011 and 2012, says research firm iSuppli.

Although it's hard to tell if Munster's estimate is entirely correct, if Apple has shipped 700,000 iPads then the company could be nearing a sell out after all. (Source: pcmag.com)