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iPad Already Taking Away iPod Sales

http://blogs.forbes.com

After analyzing newly released data from the NPD group, Gene Munster at Piper Jaffray thinks the iPad's early success is already affecting iPod sales. This afternoon NPD reported Apple's iPod sales are down 17% year-over-year for April. Gene was expecting iPod sales to only be down 9% for the quarter. The NPD data suggests sales of 9 to 10 million units for the entire June quarter, which is range of -12% to -2% for year-over-year declines. (The street expects -7% for the quarter.) While iPod sales are down, Apple's Mac business is going strong. Sales are up 39% for April on year-over-year basis, according to NPD. This suggests sales of 3.1 to 3.2 million units for the June quarter. That would be growth of 19% to 23% year-over-year for the June quarter, which is slightly stronger than street expectations of 19%. With Mac sales remaining strong, and iPod sales falling more than expected, Gene thinks the iPad is cannibalizing iPod sales. This is a positive because the iPad has an average selling price that's 4X as high as an iPod, with a similar margin.

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