Analyst: Apple’s iPad Air Shows Awesome Early Returns
Though new iPad Air tablets have been on the market for just days, analysts are seeing great things in the roll-out for Apple (NASDAQ:AAPL). At Cantor Fitzgerald, analyst Brian White delivered updates on sales from around the world that showed incredible demand for the new iPads. White considers the new Apple release one of the biggest for the tech giant since the original iPad, a view that supported his price target of $777 to accompany his “buy” rating.
Cantor Fitzgerald was live on the ground in New York for the iPad Air debut, checking in at several Manhattan Apple Stores — as well as network carrier shops — to get a firsthand assessment of the buying experience. By the afternoon, White and his team reported the 16GB and 128 GB models were already selling out in the Big Apple, while Hong Kong markets saw an even greater demand.
The view from New York and Asia supported the rave reviews the iPad Air has gotten. ”Put simply, Apple’s latest iPad soars,” gushed TechCrunch, and the giddiness has been shared by most investors as well. Regarding availability, reports indicated that customers in locations where the iPad was selling out could order the tablet online for shipping as early as Monday.