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Our favorite Wall Street analyst Gene Munster is back with a new prediction for 2011. Not only has he raised his original prediction of iPad sales in 2011, but he's also making a bold new claim. The iPad will be on the brink of outselling the Mac next year!
He had previously thought that 14.5 million iPads would be sold next year, but now he's calling for Apple to sell 21 million. What's the reasoning? The growing expansion of the availability of the iPad, as well as the enterprise sector growing increasingly fond of it as well.
"We believe the iPad represents a meaningful product category for Apple as a secondary computing device for those who already have a primary computer, a primary device for those who could not previously afford a Mac, and the first Apple product that will be a success in the enterprise," Munster writes. "We see the iPad as the Mac for the masses."
Other reasons factoring into his prediction: an increase of supply and an expansion of distribution channels, an international rollout and adoption in price-sensitive markets, and of course the uptick in the enterprise industry.
A presence increase of the device in retail stores is also believed to certainly help sales.
What else is on Munster-Vision? He thinks Apple will control 94 percent of the worldwide tablet market in 2010, with about 10.7 million of the total 11.3 million tablet sales for the year. Down the road, he also thinks that Android will be the main competition for the iPad, with the next 3.0 release, being coded "Gingerbread," will be supporting tablets.
Finally for those who enjoy some stock market goodies, Munster raised the price target for AAPL stock to $390, with estimates on revenue ranging from $78.96 billion to $83.13 billion. The earnings per share estimate for next year has also been increased from $16.87 to $17.75. At the time of this writing, AAPL stock was priced at $288.92 a share.
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