Here are your Apple rumors and news items for Tuesday:
25 Million iPads Served: Apple Insider reported that Apple’s (NASDAQ:AAPL) iPad tablet PC is maintaining its iron grip on consumers in its second year on shelves, and Apple is all too happy to crow about the device’s success. The company announced at the Worldwide Developers Conference that it had sold 25 million iPads so far. When coupled with previous totals and its first-quarter performance, that quoted figure indicates that Apple will likely sell more than 8 million iPads in the current quarter. Piper Jaffray analyst Gene Munster and Chris Whitmore of Deutsche Bank both had set previous expectations of 7 million iPad sales for the quarter, but they agree that Apple will likely exceed expectations. JPMorgan’s Mark Moskowitz, however, expects Apple to come in well below that “bullish” lofty number, expecting fewer than 7 million iPads sold.
iCloud Clout: Piper Jaffray’s Munster believes that iCloud, the company’s latest offering that lets consumers keep back-ups of documents, photos, apps, music and movies on Apple servers, will spur consumers to buy several Apple products. Primarily, he expects a windfall for the iPhone and iPad, since iCloud and other features in Apple’s new mobile platform further replace the need for a traditional PC for many consumers. Munster’s target price for Apple shares is $554.
Early iCloud: The full array of iCloud services won’t be available until the company’s latest mobile software is released for iPads and iPhones this fall, but a select few features are already available to iPhone users, according to a Monday report from Mac Rumors. People with iPhones can already automatically download apps and music purchased on other devices like a MacBook or iPad, as well as access previously downloaded content. Automatic downloads and a full purchase history are key features of iCloud and should help educate consumers before iCloud’s full rollout in the fall.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.
