Apple Inc. sold its three millionth iPad Monday, 80 days after the tablet computer's introduction in the U.S. and giving further insight on how the device will boost current-quarter results for the tech giant.
Some analysts last month projected about half that would be sold in Apple's fiscal third quarter, which ends next week. They went on sale April 3 in the U.S. and become available internationally at the end of May, weeks later than planned after the stronger-than-expected U.S. debut.
The announcement comes as Apple's iPhone 4 is also shaping up to be a blockbuster. The company took preorders for more than 600,000 of the devices on its first day of availability, while carrier AT&T Inc. had to stop taking advance orders because of inventory issues and unexpectedly high demand.
Apple's shares rose 1.4%, or $3.68, to $273.85 in Nasdaq composite trading. The stock has about doubled over the past year and has the second-highest valuation among U.S. companies, behind just Exxon Mobil Corp.
Disclosure: I hold a position in Apple
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