Analyst estimates half a million devices sold since launch

iPad 2 sells out

Analysts have stated that Apple’s iPad 2 has sold out in its first weekend, claiming sales of around 500,000.

According to Fortune, Piper Jaffray analyst Gene Munster conducted a survey of 236 potential buyers, as well as various retailers, including Target, Best Buy and Apple Stores.

The findings indicate that the sales of the new devices have already outstripped sales of the first iPad in a comparable timeframe, and that stocks of the iPad 2 were depleted by Saturday. In addition the analyst also claims that 70 per cent of iPad 2 buyers were new customers to the device.

“We believe this shows Apple is expanding its base of iPad users, which is critical to maintaining its early lead in the growing tablet market,” commented Munster.

However, some caution should be advised regarding these figures as the same analyst massively overestimated sales of the first iPad, claiming sales in excess of 700,000 when actual sales were closer to 300,000.

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