Apple Inc. (NASDAQ:AAPL) new generation iPad is showing strong signs according to a new report from Goldman Sachs’ equity research. This week marked the sixth anniversary of a technology that was critical for the smartphone market as we know it today
More below on Apple Inc. (NASDAQ:AAPL)’s third generation iPad via Goldman Sachs research
Computerworld reports that a pair of buyback companies is seeing more than double the number of consumers asking for price quotes on their older Apple Inc. (NASDAQ:AAPL) tablets than last year.
Anthony Scarsella, chief gadget officer at Gazelle, said that trade-in price quote volume is up 130% from October 2012 levels. Jeff Trachsel, chief marketing officer at NextWorth, said their quote volume is up 127%. Both Messrs. Scarsella and Trachsel credited the redesign of the iPad Air with consumers’ increased interest in trading in their old devices.
Apple Inc. (NASDAQ:AAPL) iPAD Air, third generation
The third-generation iPad, launched in March 2012, has been the most popular tablet consumers are hope to sell, accounting for 35% of NextWorth’s quotes in October and 31% of Gazelle’s. The 2011 iPad 2 was the second most popular device, accounting for 20% of NextWorth’s quotes and 22% of Gazelle’s.
Goldman’s take on Apple Inc. (NASDAQ:AAPL) iPad:
We believe there may be several factors at play in driving the increased volumes of quotes for tablets, including the increased availability of trade-in programs in general as well as the significant changes in the iPad Air, which features a narrower bezel and is 20% thinner, 28% lighter, and 43% thinner than the previous iPad.
Regardless of the driver, it appears that iPad demand is set to rebound, and with most of the past year’s volumes coming from the iPad mini, strong momentum for the Apple Inc. (NASDAQ:AAPL) iPad Air would be an incremental positive.