Apple’s iPad is already looking better than expected, says Morgan Stanley analyst Katy Huberty, in a bullish note this morning.
Huberty writes that iPad suppliers are forecasting 8 million to 10 million shipments for calendar year 2010, up from previous expectations of 5 million. She adds that suppliers expect to move 2.5 million iPads in the first three months.
Huberty is optimistic about iPad sales for the year, calling for 6 million iPads to be sold this year versus the consensus estimate of 3 million to 4 million.
What does that mean for Apple? For every 1 million iPads that Apple sells, Huberty says Apple gets $0.25 of EPS. With fiscal year 2010 consensus around $11.75, a few million bonus iPads could be a nice boost. (Though still a relatively small contribution to the company versus the iPhone, Mac, etc.)
With iPad sales expected to be solid, Huberty sees upside surprise for the June quarter.