Apple iPad Purchasing Explosion on the Horizon

According to an NPD Group survey of American businesses with fewer than 1,000 employees about their plans to buy tablets over the next year, almost three quarters of those polled intend to bring touchscreen tablets into the workplace. Stephen Baker, vice president of industry analysis at NPD, said businesses are “determined” to adopt the use of tablets, and Apple’s (NASDAQ:AAPL) iPad is still the preferred device.

“The iPad, just as it is in the consumer market, is synonymous for ‘Tablet’ in the business market, leaving Apple poised to take advantage of the increased spending intentions of these SMBs (small and medium businesses),” said Baker. “NPD’s research shows that iPad purchase preference is higher among larger firms than smaller ones, which is an important indicator that Apple is gaining traction far outside its typical consumer space.”

Larger companies with between 501 and 999 employees rank highest in their tablet buying intentions, with 89 percent of polled businesses interested in buying a tablet, at an average expense of $38,749. In the next year, average-, small- and medium-sized business are predicted to spend more than $21,000 on tablets.

The survey also reports that a staggering 90 percent of firms polled intend to maintain or increase their spending on tablets over the next year.

Here’s how Apple’s iPad news is affecting these tablet companies:

Hewlett-Packard Company (NYSE:HPQ): HPQ shares recently traded at $25.50, up $0.3, or 1.19%. They have traded in a 52-week range of $21.50 to $49.39. Volume today was 4,486,252 shares versus a 3-month average volume of 20,625,700 shares. The company’s trailing P/E is 7.68, while trailing earnings are $3.32 per share.

Dell Inc. (NASDAQ:DELL): DELL shares recently traded at $14.72, up $0.04, or 0.27%. They have traded in a 52-week range of $12.99 to $17.60. Volume today was 3,097,240 shares versus a 3-month average volume of 21,983,700 shares. The company’s trailing P/E is 7.58, while trailing earnings are $1.94 per share.

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $638.83, down $0.87, or 0.14%. They have traded in a 52-week range of $473.02 to $645.00. Volume today was 925,787 shares versus a 3-month average volume of 3,092,630 shares. The company’s trailing P/E is 21.78, while trailing earnings are $29.34 per share.

Research In Motion Limited (NASDAQ:RIMM): RIMM shares recently traded at $14.24, down $0.01, or 0.07%. They have traded in a 52-week range of $12.45 to $70.54. Volume today was 5,509,043 shares versus a 3-month average volume of 22,990,600 shares. The company’s trailing P/E is 3.35, while trailing earnings are $4.25 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com