If you want an indicator of how well the iPad will be selling, look no further than Apple’s stock price at a new 52 week high (AAPL)
In case you haven’t heard, Apple’s new iPad will be released to the marketplace this coming Saturday, April 3rd. The iPad is already sold out on the pre-order deals, and the supply at the stores will be available on a first come first serve basis.
Leading up the iPad release, shares of Apple (AAPL) traded at a new 52-week high today of $233.87. Approximately 2 million shares have traded hands today vs. average 30-day volume of 20 million shares.
I’ve always believed that the market is the best place to look for leading indicators. And investors are certainly not going to be throwing money at a company that can’t deliver on value and profits.
So my guess is that because of the surging stock price of Apple, we can expect strong sales from the iPad.