Apple to Sell 28M iPads in 2011

10:45 AM -- Apple Inc. (Nasdaq: AAPL) is expected to sell 28 million iPads in 2011 -- and put pressure on the entire PC industry.

While UBS Research analyst Maynard Um says there's no evidence the iPad is cannibalizing Mac sales, it appears to be challenging sales of traditional notebook computers with its competitive price and causing consumers to "delay purchases and upgrades of existing PCs."

Umm also predicted Apple will release a new CDMA-compatible iPhone 4 in January and increased his price target for Apple stock by $10, to $350.

"We continue to favor product plays such as Apple as the company should have some of the most highly sought after products in the holiday quarter," Ummm wrote in the research note he issued this week. "Despite tough economic conditions, consumers remain willing to pay for innovation. Despite increasing competition in smartphones and that which is soon to come in tablets, Apple's ability to keep its products fresh and innovative gives us confidence in our estimates going forward."

In other news:

  • Amazon.com Inc. (Nasdaq: AMZN) is acquiring digital music startup Amie Street, an online store it invested in four years ago (and, as MediaMemo's Peter Kafka points out, home to the musical stylings of the infamous Ashley Dupre). Starting on Sept. 22 all Amie Street pages will redirect to Amazon, and Amie Street users will be given a $5 credit toward Amazon MP3s.

  • Justin Bieber takes up 3 percent of Twitter Inc. 's resources at any one time, a Twitter employee revealed to Gizmodo. The tween star has "racks of servers dedicated to him" at the San Francisco company.


    — Erin Barker, Digital Content Reporter, Light Reading Cable

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