iPad 2 Sold Out (AAPL)

Gene Munster of Piper Jaffray has estimated that Apple AAPL has sold between 400,000 and 500,000 iPad 2s. If actual sales are close to this estimate, then the iPad 2 would have sold much better than the original iPad, which only sold 300,000 during its opening weekend. It is noted, however, that Munster largely overestimated the original iPad's sales. Munster had estimated that 600,000 to 700,000 iPads had been sold during the first opening weekend.

Munster's staff not only surveyed Apple retail stores, but also 236 buyers waiting in line for the iPad 2 at one retail location.. Piper Jaffray found that 70% of the buyers were first-time iPad buyers. Interesting enough, there was an even split between Mac and PC users, at 51% and 49%, respectively. Only 6% of the buyers plan on using their iPad to read, similar to the Kindle, demonstrating that the iPad has created its own place in the technology market. The iPad is not seen as an e-reader, nor tied to Apple's already established product system.