120,000 iPads sold on the first day

Fortune’s Brainstorm Tech blog is reporting that an estimated 120,000 iPads were sold on the first day.

“The team at Investor Village’s AAPL Sanity board have completed their initial analysis of pre-orders for the iPad tablet computer.”

“the Sanity team estimates:

* Nearly 120,000 iPads sold. Their math: 124,596 (orders of all Apple products Friday) minus 16,500 (the average number of online orders on a normal day) times 1.11 (the average number of iPads ordered per customer) equals 119,987 iPads.”

You should read the whole article.

This is also being covered on gizmodo.

Chart from the blog.

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