Once the iPad was launched, the next question among many would have been the market reception of the magical Apple Tablet and the actual number of units sold on first day. This post attempts to answer just that. Gene Munster, a Piper Jaffray analyst estimates iPad’s first day sales to be around 700,000.

This estimated count also includes the pre-ordered iPads. The estimated number of the iPads sold are pretty higher than Munster’s initial estimation of 200-300 thousand units. The analyst shares a pretty interesting fact that out of the 20 Apple stores he contacted,  19 of them still had the iPad available for sale as of  7:30 p.m. Eastern time.

What’s even more interesting is the fact that the waiting lines were longer than the ones observed previously on previous iDevice launches with around 730 people waiting at the 5th Avenue store in New York at 9:00 am compared to the 350 at the same time for the iPhone 3GS launch, and 540 for the iPhone 3G.

It remains to be seen if the iPad will be able to reach the predicted 7M sales record by the end of 2010? What do you think? Apple will certainly be hoping for that and even more.

[via Tech Trader Daily ]