Economy Tanking, Except for Apple

Recession? Not in Cupertino

By Scott Budman
|  Monday, Aug 8, 2011  |  Updated 10:10 AM PDT
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Economy Tanking, Except for Apple

iPad: still hot.

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The economy is burning, but Apple is still fiddling. 

And not in a bad way. Apple has the right to make music because sales of its products are still strong, and despite a template of gloom overtaking our economy, the latest economic prediction has sales strong no matter how weak things get for our nation.

Just this morning, investment company Needham raised not only its target price for Apple's (AAPL) stock price, but its target for iPad sales.  Yes, in the midst of what looks to be another ugly chapter for our nation's economy, Apple is expected to sell even MORE tablet computers.

Perhaps Apple has become the next coffee -- sure, we'll give up a lot in a recession, just don't ask us to give up our morning java.  Or our iPad.  Apple's sales have been strong for some time now, and Needham expects it to sell a ton more. 

By 2015, the investment firm expects Apple to sell more than 100 million iPads.  Ask anyone about any other industry, and you'll get a negative response.  Apple?  We (apparently) can't live without 'em.

Pass the Pad.

Twitter probably has a good future, too.  Scott’s on it:  @scottbudman

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