Financial analysts are raising estimates for Apple performance following the company's announcement of 3 million iPads being sold. "We as well as the Street, continue to underestimate demand for iPad," says Kaufman's Shaw Wu. "Part of the reason is that the iPad, as a tablet, is a relatively new product category where it fits in between a smart phone and a notebook PC. And of course, we are arguably still in a recession amid still-high unemployment levels where it is prudent to be conservative. AAPL continues to defy gravity, in our view, as its products continue to
