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Talk about a good first weekend. This morning Apple (AAPL) announced that it sold more than 300,000 iPads as of midnight on Saturday, including deliveries of preordered iPads to customers, to channel partners, and sales at Apple Retail Stores. The company added that iPad users downloaded more than 1,000,000 apps from their App Store and more than 250,000 ebooks from its iBookstore the first day.
Steve Jobs noted that "It feels great to have the iPad launched into the world -- it's going to be a game changer ... iPad users, on average, downloaded more than three apps and close to one book within hours of unpacking their new iPad." This is great news for the company, and it lead to JPMorgan upping the company's price target to $305 from $240 while raising 2010 EPS estimates to $12.74 from $11.59. Kaufman expects AAPL to now reach $295 as well.
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