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Edition: U.S. Article Comments (1) Save Email Print Reprints Most Popular Most Shared Asian stocks fall, yen dips as Japan PM quits | Video 3:03am EDT WRAPUP 1-BP embarks on latest bid to capture gushing oil 1:00am EDT Japan PM quits before election 1:46am EDT Hole opens in Guatemala neighborhood, 3 missing 23 Feb 2007 Blagojevich corruption trial may touch Obama 1:04am EDT Apple's Steve Jobs finds Foxconn deaths "troubling" 2:27am EDT Google phases out Microsoft Windows use: report 01 Jun 2010 BP embarks on latest bid to capture gushing oil | Video 1:06am EDT Al and Tipper Gore separating after 40 years of marriage | Video 01 Jun 2010 Butt test shows U.S. cigarettes high in chemicals 01 Jun 2010 Google phases out Microsoft Windows use: report 01 Jun 2010 Butt test shows U.S. cigarettes high in chemicals 01 Jun 2010 Japan PM quits before election 1:46am EDT Arizona governor to meet Obama on immigration 01 Jun 2010 UPDATE 4-Novo pulls drugs from Greece over price cuts 31 May 2010 Fallen bridges hamper Guatemala storm rescue | Video 01 Jun 2010 Urine test improves prostate diagnosis: study 01 Jun 2010 Hole opens in Guatemala neighborhood, 3 missing 23 Feb 2007 Chocolate may cut cholesterol but only in some people: study 01 Jun 2010 Asian stocks fall, yen dips as Japan PM quits | Video 3:03am EDT Apple shares rally on strong iPad demand SAN FRANCISCO Tue Jun 1, 2010 1:54pm EDT Related News Apple says sold 2 million iPads Mon, May 31 2010 UPDATE 2-Apple says sold 2 million iPads Mon, May 31 2010 Study finds iPads cost most in Europe and UK, cheapest in US Sun, May 30 2010 Apple's iPad goes global Sat, May 29 2010 Apple's iPad goes global Fri, May 28 2010 SAN FRANCISCO (Reuters) - Shares of Apple Inc rallied on Tuesday, as a successful international launch of its iPad tablet prompted Wall Street analysts to raise earnings and sales estimates. Technology | Media Shares of Apple climbed 3.3 percent to $265.40 in early afternoon trading on Nasdaq. Apple said Monday it has sold more than 2 million iPads since the device debuted April 3 in the United States. The announcement followed Friday's international iPad roll-out, which was delayed by a month as Apple worked to build enough of the devices. The iPad went on sale in nine international markets, with eager fans standing in line overnight in Europe and Asia to get their hands on the 9.7-inch touchscreen tablet, which resembles a large iPhone and is designed for Web surfing, games and consuming digital media in all its forms. Analysts raised their estimates and price targets on Apple on news of the iPad demand, which is tracking much better than many had expected. Before the launch in April, many on Wall Street predicted sales of roughly 1 million iPads for the June quarter. "AAPL's business model continues to improve on a daily basis and we are raising our estimates and price target once again due to better than expected strength in iPads," wrote Broadpoint AmTech analyst Brian Marshall in a research note. He boosted his price target to $340 from $320. Barclays Capital analyst Ben Reitzes raised his earnings and revenue forecasts and took Apple's price target to $320 from $315. "We believe (iPad) sales would have been far greater if the company had more supply; iPads in the U.S. still show lead times of 7-10 business days -- stores have very limited supplies as well when shipments do come," he wrote in a research note. Kaufman Bros analyst Shaw Wu raised his earnings and sales estimates for both the June quarter and fiscal 2010. He noted that there are already 5,000 iPad-only applications available. "We had believed that the key to success for the iPad would be around the development of iPad-specific apps that would take advantage and showcase its larger screen and more powerful processor. It looks like this metric has more than been met," Wu wrote. Shares of AT&T Inc -- which provides the high-speed wireless data for the iPad in the United States -- also showed strength on Monday. Walter Piecyk, a research analyst for New York-based broker-dealer firm BTIG, pointed to the strong iPad sales, and also anticipation over the next week's Apple event, where Chief Executive Steve Jobs is widely expected to launch the newest version of the iPhone. "I think there's an expectation Apple's going to announce a new iPhone for them next week," he said. Shares of AT&T rose 1.8 percent to $24.73 on the New York Stock Exchange. (Reporting by Gabriel Madway and Sinead Carew; Editing by Richard Chang) Technology Media Comments See All Comments (1) | Post Comment Jun 01, 2010 11:00pm EDT How interesting that apple is revisiting technology which was rejected by the masses in the 1990’s. Eventually the cult will crack, and people might realize they dont like pen based or touch based computers AGAIN. It’s interesting how short the memory is. Sheeple. normbo Report As Abusive See All Comments (1) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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