Apple Delivers Another Hit With The iPad

Remember when a number of people in the media were panning Apple's new iPad device, saying that the company had finally missed the market after a number of successful product launches?

I do.

Apple finally figured out the problem that has baffled a number of other companies over the past decade or so - how to develop a tablet computer device that people will actually buy.

Ipad illustration - Sales upAccording to their Q3 earnings report, Apple sold 3.27 million iPads during the second quarter of 2010. Compare this to the #s for Apple's other major products:

-3.47 million Macs
-8.4 million iPhones
-9.41 million iPods

..and you will see that Apple's iPad is already a major hit, and we haven't even started in the upgrade cycle yet.

It amazes me that people doubted that Apple would be able to develop a tablet computer device that people would actually buy, considering that the company ran over their competitors in the cellular phone market with the introduction of the iPhone.

It seems to me at this point that betting against Apple is just not a very smart idea.

Apple is expecting $18 billion in revenues in Q4/2010 and diluted earnings per share of $3.44.

The Apple express rolls on..