Laureate Trust Raises Apple’s Target to $300; iPad 3G Making Amazon’s Kindle Obsolete

Amazon's has conceded defeat because they are now planning an iPad app to keep their Kindle book service alive.

Online PR News – 05-April-2010 – – Laureate Trust raised their target price on Apple (Nasdaq: APPL) today from $250 to $300 on stronger forecast for iPhone and iPad sales. The firm’s analysts estimate that Apple may have sold between 600,000 to 700,000 iPads in the U.S. and expect the sales to match if not exceed in Europe when the iPad releases later this month.

For 2010 the firm sees initial iPad demand of 3 million units and could very easily increase to 6 million units in 2011. Apple had told manufacturers it wanted to produce a million iPads per month matching the scale of the iPhone.

CEO of Laureate Trust Peter Tasca says, “A critical factor that makes iPad so versatile in the marketplace is the 150,000 apps available. iPad will make Amazon’s Kindle obsolete, Steve Jobs has unveiled that five of the six largest book publishers signed up to its iBookstore, going head to head with Amazon’s Kindle.”

It seems that Amazon has conceded defeat because they are now planning iPad apps in an attempt to keep their Kindle book service alive. Tasca says, “Amazon had no choice, they have sold 3 million Kindles worldwide while iPad will exceed that number in about 4 months.”

The firm also states that publishing houses see iPad as a path to increased sales. Time has signed up six advertisers including Fidelity and Unilever, each paying about $200,000 to appear in the first eight iPad editions. The Wall Street Journal will launch with six advertisers paying about $400,000 each for four months.

Tasca says, “Apple is an amazing organization and we believe like the iPhone, iPad will go beyond the core Apple lovers and will someday replace the laptop with this device.”