Apple (AAPL) iPad Sales and Upgrades Help Shares Buck Market Selloff
Yesterday Apple (Nasdaq: AAPL) announced that iPad sales have topped two million in less than 60 days. This morning Wall Street analysts are racing to upgrade their darling as UBS (NYSE: UBS) and Barclays (NYSE: BCS) raised their price target to $320, Broadpoint AmTech raised its target to $340 from $320, Piper Jaffray (NYSE: PJC) raised to $330, and Kaufman Bros. upped its iPad sale estimate to 2.7M from 2M.
The good news is spreading as Apple looks to cause a global Gutenberg moment. This weekend Apple began shipping iPad in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland and the UK. iPad will be available in nine more countries in July and additional countries later this year.