Apple's stock has risen steadily ahead of the iPad launch, hitting an all-time high of $237.48 on Tuesday, and shareholders are confident that there is still growth ahead.
"With the stock flying so high, there is a part of me that's itching to take gains," said Apple investor Daniel Hung, in an email to TheStreet. "But, products like the iPad, [and] a potential launch of the iPhone at Verizon (VZ) have me optimistic that holding is the right course of action right now."
The iPad, which makes its debut on Saturday, is one of the most hyped technology launches in recent years. Reports have already suggested that iPad preorders are going through the roof. One analyst has even forecast that 1 million or 2 million iPads could be sold by its debut.Unlike the iPhone, the iPad lacks camera and voice capabilities, although it shares an OS with the smartphone. Hung, who writes the Curious Investor blog, believes that the iPad has a rosy future. "I think the true source of success for the iPad will be determined by motivated entrepreneurs who adopt the iPhone OS as their playground," he explained. "It won't be long before we see some very creative uses for the device -- I'm sure of that." Earlier this week The Wall Street Journal reported that the iPad launch was luring more application developers to Apple's App Store, at the expense of rivals such as Microsoft (MSFT), Research In Motion (RIMM) and Nokia (NOK). With more than 150,000 applications available for download, the App Store dwarfs other offerings in this space, such as Google's (GOOG) Apps Marketplace, and is seen as a crucial weapon in Apple's armory. Michael Yoshikami, chief investment strategist at YCMNET Advisors, says that the iPad, with its 9.7 inch screen, is particularly well suited to certain market sectors.
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