With each new product launch comes reports of Apple (News - Alert) fans lining up to get their hands on one of the shiny new devices. In this case, it’s the new iPad. But Apple fanatics aren’t the only ones excited about the new product. Analysts think the Cupertino, Calif. company could sell 65 million of them.
That number comes from analysis firm Canaccord Genuity. It’s also more than all of the iPads the company has sold since Apple introduced the product in 2010.
But is that number too optimistic? Phil Hornshaw, writing for Appolicous, said he thinks the new iPad could bring in new users, especially with its new Retina display. “The Retina display is a huge hit on the iPhone (News - Alert) and on the iPad, it seems even better positioned to be the kind of feature that draws people to buy, especially given some of the phenomenal-looking apps Apple showed off at the announcement event,” he said.
Another potential draw is the iPad’s support for 4G LTE (News - Alert), which is only now becoming a standard for next-generation mobile devices. “Sure, there are several 4G LTE tablets and smartphones out there at this point, but they’re still relatively rare,” Hornshaw said. “Further, 4G LTE is being hyped like crazy among U.S. cellular carriers, so it’s hard not to get excited about the potential of having that technology in the latest iPad.”
Apple’s devices are also cheaper than they’ve ever been, which could also entice new customers who have been holding off on buying an iPad. The company dropped the price of its iPad 2 by $100 when they announced the latest iteration of the tablet. “Apple’s price drop may well attract users who don’t see the need for the newest bells and whistles, and can manage to save a little money on the old iPad over the new one,” Hornshaw said.
Apple, however, knows its biggest selling point for its mobile devices is its apps. It’s revamped many of them for the new, higher-resolution display and also created a portal in the App Store called “Great Apps for the New iPad.”
Shares of the company hit a maximum of $600 per share, showing that investors seem to be excited about the company’s new offering as well.