March 14, 2012
Display Production To Keep Pace With New iPad Sales
Rumors circulating that Apple will have supply issues with its Retina display are likely "overblown," according to Jeffries & Co analyst Peter Misek. The analyst's comments were reported widely on Reuters and elsewhere on Tuesday.
Apple announced the New iPad on March 7. The next generation tablet will be available for sale on Friday, March 16 for $499 to $829 depending on the size of memory and connectivity. Across the six available models, it's the display that concerned customers and businesses. The Retina display is Apple's A5X chip with quad-core graphics.
Verizon is among the sellers expected to carry the 4G LTE version of the New ipad.
"Despite widespread concerns, we believe there will be enough screens for the new iPads," said Misek, Reuters reported.
In light of smooth production of the New iPad, which will be in stores later this week, misek upped his price target on Apple stock to $699. On Tuesday afternoon stock was trading at $567.90, an increase of $15.90 since stocks began trading that morning.
Reuters reports Apple will likely sell over 1 million New iPads on the day of launch, including pre-orders which area fully sold.
Apple released its first iPad in April 2010. Estimates put sales of the Apple iPad, including the first and second generation tablets, at around 55 million to date.
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