Is The iPad Suddenly Cool Again?

After suffering 13 consecutive quarters of declining sales, Apple Inc. AAPL reported a 15-percent increase in iPad sales in the third quarter.

Why the resurgence?

One tech stock strategist believes he knows why.

“Most electronic devices have a shelf life from 12-24 months. The iPad is made so well that the refresh has become twice, maybe three times as long as the iPhone. The iPad is finally hitting that up-cycle in the latest quarter,” said Sean Udall of Quantum Trading Strategies.

“Apple’s early view was that the upgrade cycle would be similar to the iPhone, but because [of] the durability, it is literally two times longer,” he said.

Another big reason for the iPad uptick?

Besides the Pro version, the standard iPad price has come down considerably over the years. Several new iPads released earlier this year, including the new 9.7-inch model, were introduced at a reduced price of $329. The lower price led to an increase in iPad revenue of 2 percent as opposed to a 15-percent increase in unit sales, according to a report by Statista.

iPad revenue totaled $5 billion in the third quarter.

Related Links:

Apple Makes New All-Time High

New Info Suggests Rumored Fingerprint Scanner On The New iPhone Is Unlikely