The biggest technology company in the world, Apple Inc. has found yet another reason to smile, as the company’s flagship tablet product, the Apple iPad has been predicted to bring in more revenue for the company. As per analysts, the world’s most cherished tablet device, iPad, will soar to a whopping 28 million units sales in the year 2011, that would in turn put a dent in the sales of low-end notebook PCs.

UBS Investment Research’s Maynard Um has reportedly issued a note to the investors, where in he has raised the target price for the stocks of Apple Inc. to $350 and has stated that, though the iPad isn’t affecting the sales of the Mac PCs, yet it is heavily impacting the sales of PCs from other manufacturers.  Even though the sales of the iPad so have far have been more than encouraging, yet Mr. Um feels that, the 28 million mark for the year 2011 could be a bit conservative and fluctuations can arise. Furthermore, it has been observed that, as the popularity and the sales of iPad soar, there is a reduction in the demand for digital random access memory in PCs, as the iPad doesn’t rely on DRAMs but the conventional PCs and notebooks do.

According to Maynard Um,

“Sales of traditional notebooks appear to be feeling pressure from the iPad, causing a scramble by vendors to launch iPad-like tablets. We believe that a majority of this impact is occurring on the lower end of PC sales as the iPad is priced close enough to this range that it becomes attractive to consumers looking to make purchases within this segment. We continue to favor product plays such as Apple as the company should have some of the most highly sought after products in the holiday quarter.”

Via Apple Insider