The iPad's growing momentum
Analysts up their forecasts for next year, and retailers make room on shelves.
Apple (AAPL) investors, take note: The iPad is becoming a bigger part of the business faster than anyone thought.
The iPad's strong performance has led analyst Gene Munster to up his forecast for iPad sales next year to 21 million from 14.5 million. He called the iPad "the first Apple product that will be a success in the enterprise," according to AppleInsider.
Apple shares surpassed $290 for the first time Thursday, perhaps in response to Munster's report, but closed at $288.92.
Businesses have indeed taken to the iPad with surprising gusto. But the device is also finding its niche with consumers, Munster said, as either a second computer for those who already own one, or a primary computer for those who can't afford a Mac.
An iPad as a primary computer? Yes, it can be done, writes Walter Mossberg of The Wall Street Journal, who ditched his laptop for an iPad when he went to Paris this year for a working vacation.
"With a few exceptions, I got everything done that I would have done with a laptop," he writes. "Yet I toted a lot less weight, enjoyed much better battery life, and had a computer that started up instantly whenever I reached for it."
Other analysts have reached similar conclusions about iPad sales next year. UBS Investment Research is expecting 28 million, and said the iPad is "adversely affecting the PC industry."
Post continues after video:
Munster thinks that Apple has completely dominated the tablet market this year, with about 94% of the 11.3 million tablets sold in 2010. (That, by the way, blows away the 3 million to 5 million in iPad sales that analysts had predicted for 2010 when the iPad launched).
Next year, however, Dell (DELL), Samsung and others will roll out their own iPad rivals, cutting into Apple's market share. Dell already sells a five-inch tablet, called the Streak, on its website and is showing off a seven-inch tablet at conferences.
Research in Motion (RIMM) is getting lots of buzz for the "BlackPad" tablet it is rumored to be developing. RIM could unveil the tablet next week at a developers' conference, The Wall Street Journal writes.
More from MSN Top Stocks:
- A smaller iPad by Christmas?
- Is the iPad killing laptops?
- iPad cracks the business market
- 4 ways the iPad beats expectations
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.