Apple on Monday said that it had sold over 300,000 iPads in the U.S. during the first day that the device was on sale, a figure that matched or exceeded many analysts' estimates.
Gene Munster, an analyst with Piper Jaffray & Co., estimated first-day sales of 200,000 to 300,000.
The news prompted JP Morgan to revise its price target for Apple's stock from $240 to $305.
Apple's stock was up slightly about fifteen minutes after the market opened on Monday and is up about 12% so far this year.
"It feels great to have the iPad launched into the world -- it's going to be a game changer," said Apple CEO Steve Jobs in a statement. "iPad users, on average, downloaded more than three apps and close to one book within hours of unpacking their new iPad."
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