Apple's iPad will hit store shelves on April 3, and Broadpoint AmTech analyst Brian Marshall thinks it will become a great recurring sales platform for publishers, broadcasters and app developers.

"In our view, the true genius of the device is its media/content aspects (e.g. eBooks, newspapers and magazines, apps and games, movies and TV episodes, etc.) which we believe will be recurring in nature," Mr. Marshall said. "In fact, we estimate iPad-related recurring revenue from content purchases will approach about 30 percent of total iPad hardware revenue in calendar year 2011."

Apple introduced the iPad in January and will begin taking pre-orders on March 12. The iPad is a tablet device that runs the iPhone OS and includes a 9.7-inch multitouch display. It supports movie and music playback, includes an ebook reader, supports most iPhone apps, and connects to the Internet via Wi-Fi or 3G wireless data connections.

Mr. Marshall is confident enough in the iPad's ability to excite customers that he raised his sales estimate for calendar year 2010 from 2.2 million units up to 4 million. He added "Largely as a result of our iPad unit increase, as well as higher Mac estimates), we are increasing our calendar year 2010 estimates to US$57,913 million and $12.75, versus our old numbers of $55,738 million and $12.00 and the Street's $55,759 million and $12.14."

Mr. Marshall maintaining his "Buy" rating for Apple's stock and is raising his target price from $264 up to $280. Apple is currently trading at $222.83, up 3.75 (1.71%).