Minting Money: Why iPad Apps Are The New Growth Stock

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Thar's gold in them thar tablets.

That's the conclusion of Vimov general manager Amr Ramadan, after watching his company's iPad app Weather HD blow up huge in iTunes.  (It's currently #7 on the Top Paid iPad Apps list, after peaking at #3.)  The US$0.99 app — which hit the App Store as a downloadable on March 31st, four days before anyone outside of Cupertino even had their hands on an iPad — was an out-of-the-gate smash, selling 2000 copies by April 2nd.  The only iPad apps that outsold it were Apple's own Pages, Numbers and Keynote.

Over the next few weeks, Ramadan crunched the app's ongoing sales figures and extrapolated those numbers to reflect all iPad app sales.  His estimates?  iPad app sales are bringing in over US$300,000 a day.  That translates to annual sales totals of around US$136 million.  That's not even counting future iPad sales.  The only potential speed bump he sees are the generally higher iPad app prices, which may well come down as iPad sales increase.

In conclusion, Ramadan predicts that — if the iPad enjoys the sort of explosive growth that the iPhone has — annual app sales of US$1 billion within two years is not out of the question:

"This is quite remarkable. While Apple has re-invented how music is sold and played, and then went again to re-invent the mobile industry, the iPad is an entirely new market. Two weeks ago Apple did not just introduce a new type of computer, they put the seeds of a new market that is bound to make many developers and publishers… happier."

[Via Business Insider

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