Apple Could Make $2.4 Billion From IPad Pro In First Months

Apple Inc.'s iPad Pro could have a $2.4 billion near-term revenue potential, according to RBC Capital Markets. That estimate is based under the assumption that Apple can sell roughly three million low-end iPad Pro units, which have an average selling price of roughly $800, in the first three months from the tablet's Nov. 11 release, said analyst Amit Daryanani. If Apple is able to sell that many units of the 12.9-inch iPad Pro, the device would account for roughly half of the $5.2 billion in iPad sales analysts are forecasting for the second quarter, according to FactSet. Shares of Apple rose 0.6% to $118.51 on Tuesday morning. They have risen 15% over the last three months, versus a 12% improvement for the Dow Jones Industrial Average.

Copyright © 2015 MarketWatch, Inc.