When Apple began accepting pre-orders for its third generation iPad on March 7th, its site was immediately clogged with people rushing to get their orders in. Just two days later, available pre-order stock began drying up, and shipping times skyrocketed. As of today, if you order from Apple’s website, you’ll be waiting two or three weeks for that shipping notice.
According to Canaccord Genuity analyst Michal Walkley, this rush of pre-orders sets Apple on a path to sell approximately 65.6 million iPads in 2012, which is a projection that’s 10 million units above his original prediction of 55.9 million.
Walkley also raised his price target for Apple stock, to $710 from $665, after his checks with Apple’s distribution channels indicated that sales of the third generation iPad broke Apple’s previous pre-order records.
The new iPad’s success, combined with the clear lack of a competitive product from other tablet manufacturers is setting Apple up for success during the course of 2012, and beyond. Walkley has also increased his 2013 predictions and believes that Apple may sell an incredible 90.6 million iPads next year.