“Analysts this morning were fairly encouraged by Apple‘s disclosure it sold 3 million iPads in the three days since the iPad mini went on sale Friday morning, as well as the fourth-generation of the regular iPad,” Tiernan Ray reports for Barron’s.
“Keith Bachman with BMO Capital Markets reiterates an Outperform rating on Apple shares and a $730 price target, writing that the results support his view of 20 million iPad shipments this quarter in total, even though it was not immediately clear how many minis were sold versus how many regular iPads,” Ray reports. “J.P. Morgan’s Mark Moskowitz, who maintains an Overweight rating on Apple shares and a $770 price target, today writes that the 3 million figure ‘is significant, as it doubles the first weekend launch of the 3rd-gen iPad of 1.5M units (Wi-Fi only) in March 2012.'”
Ray reports, “Brian White of Topeka Capital reiterates a Buy rating on the stock, and an $1,111 price target, writing that the sales surpassed his expectation for 800,000 to 1 million units, and that ‘Overall, we believe this is a strong print and greater supply of the iPad mini would have allowed for greater sales.'”
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