Mr. Marshall expects that when the iPad launches this Saturday, most titles from the major book publishers will be available, along with a growing list of magazines and newspapers from publishers such as Condé Nast and Time. Apple’s iTunes Store already offers over 12 million songs that are iPad compatible, over 8,500 movies and 55,000 TV shows, and over 150,000 apps at the company’s App Store, too.
With a growing number of publications and apps that can generate recurring revenue, Mr. Marshall expects Apple will have yet another revenue stream to help draw in even more cash to help boost the company’s bottom line.
The iPad is Apple’s new tablet device that runs iPhone OS. It includes a 9.7-inch multi-touch display, runs most iPhone applications, includes an ebook reader app and online store, supports Wi-Fi and Bluetooth connectivity, and some models offer 3G wireless data access, too. iPad pricing starts at US$499 for the 16GB Wi-Fi model.
Mr. Marshall is maintaining his “Buy” rating and $280 target price for Apple’s stock. Apple is currently trading at $237.33, up 2.33 (0.99%).