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Apple Reveals How Many iPads It Sold In The Last Decade

Apple Inc. (NASDAQ: AAPL) during its "Time Flies" event on Tuesday revealed it sold more than 500 million iPad units over the last 10 years, as first noted by The Verge.

· 09/16/2020 06:48

Apple Inc. (NASDAQ:AAPL) during its "Time Flies" event on Tuesday revealed it sold more than 500 million iPad units over the last 10 years, as first noted by The Verge.

What Happened: This is the first time that the Cupertino-based technology giant has put a number on the iPad sales since 2018, when it stopped disclosing such figures in its earnings reports, according to The Verge.

The disclosure came as Apple unveiled its latest iPad model, the Generation 8 — featuring 10.2 inch Retina display and the A12 bionic chips.

The steep increase in the price of iPad Air from $499 to $599 is a sign of robust demand, and shows confidence on Apple's part, Loup Ventures Managing Partner Gene Munster said in an analyst note after the event.

The Tim Cook-led company also unveiled Watch Series 6, Fitness+, and a services bundle dubbed "Apple One," the same day. 

Wedbush analyst Daniel Ives maintained an Outperform rating on Apple's stock and reiterated his 12-month price target of $150.

Price Action: Apple shares traded 0.53% higher at $116.15 in the pre-market session Wednesday.