Apple Inc. (NASDAQ:AAPL) has sold out of 3G iPads. Analysts are predicting that about 2.5 million have been sold this quarter. Piper Jaffray analyst Gene Munster estimated that 74% of all Apple stores were sold out complete. About 26% of the stores had WiFi models on hand, but no 3Gs left. If you want an iPad, you can reserve one in the store and receive it 4-7 days later or order it online and get it 7-10 days later. [BI]
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Wow! Those are incredible numbers. If Apple iPads continue to sell at this pace, it would be $2 billion per year. Most companies would be satisfied with that level for a single product. Another way to put it, if Apple sold nothing but iPads, it would be a major company. This speaks to the value of having an innovation strategy.