BMO Capital analyst Keith Bachman this morning released a note to clients in which he raised his target on AAPL stock to $265 from $250 and increased his 2011 iPad sales estimates by 30.09 per cent.
The analyst had expected 2.5 million iPad sales for fiscal 2010 (frankly that’s seriously low, Apple’s already taken 1.2 million pre-orders, and everyone else wants to touch one before they buy – and that’s just the US market).
The analyst also predicted 5.5 million iPad sales in fiscal 2011. Bachman’s revised estimates caution 7.2 million iPad sales in fiscal 2011. Also predicted was the iPad’s conquest of 11% of the netbook market.