iPad launch sales could top 1 million according to Piper Jaffray

Apple could sell as many as 1 million third generation iPads on day one according to the latest investor note posted by Piper Jaffray.

Analyst Gene Munster claims the total could be hit when iPad hits shop floors on 16 March a number that would represent more than a three-fold rise on the total Apple shifted when the very first iPad launched almost two years ago.

It's a winner

In all, Apple Insider claims Wall Street expects more than 10 million iPads to be sold in its debut quarter, with a tenth likely to be sold in the device's first 24 hours.

Even if such lofty targets aren't met, Munster adds it wouldn't necessarily be bad news for those at Apple.

"That said, if iPad sales are less than 10 (million) in (the March quarter), we see it as a win-win given investors will attribute the miss to a slowdown ahead of the new iPad and start to anticipate a strong rebound in the June-12 quarter," he added.

As a comparison, Launch estimates for iPad 2 came in between 400,000 and 1 million units sold, with Munster himself pegging weekend sales at around the 500,000 mark.

[source: Apple Insider]