Fortune reported the research note to clients, and said that Mr. Bachman’s reasoning revolves around several contributing factors. For one thing, he thinks that Apple’s iPad could conceivably capture as much as 11% of the existing Wintel and Linux netbook market. At 40 million units in 2010, that would represent a sizable chunk of unit sales for Apple.
To that end, he noted that cheap netbooks running Microsoft Windows 7 take two minutes to boot up, and that people who pick up or try the iPad will likely consider it substantially more responsive.
He also said that Apple should be able to grab 35% to 40% of the tablet and e-reader market, calling it a cinch. His estimates are that the tablet market will be 17 to 22 million units in 2011 and that the e-reader market will see 5 million units in 2011.
All combined, he sees Apple moving 7.2 million iPads in 2011.
In the early afternoon trading session, shares in Apple Inc. are trading higher at $230.29 per share, higher by $0.92 (+0.40%), on moderate volume.