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Hi, I'm Eric Bleeker, an analyst at, and this is my "120" on Apple's (Nasdaq: AAPL) iPad.

Obviously, there's been a lot of excitement and news about the iPad coming from a company that's delivered hit after hit. However, I think investors should take some perspective of what kind of market the iPad can actually capture. Number one, with e-readers, it's launching into a very competitive landscape array -- obviously, Amazon's (Nasdaq: AMZN) Kindle, Barnes & Noble (NYSE: BKS) with its Nook, many players.

Apple's going to come in with a much more full-featured product here. The question will be how receptive consumers are to that versus their current e-readers, which are more focused on book reading. Second, tablets. For at least a decade, tablets have been the next big thing in technology, but it's never really hit. The question is whether Apple can actually open up this new market that so many others have failed in. It's not alone, either. Hewlett Packard (NYSE: HPQ) has their new Slate coming out, which works with Microsoft Windows 7, and also Dell (Nasdaq: DELL) has their own tablet along with many other smaller players.

As far as what this means to Apple, one thing to keep in mind: Even if the iPad sells more than the iPhone did in its first year, it's still only around 5% of the company's revenue. So it's a very small slice. From there, it probably doesn't grow as large as the smartphone market. So, if you're buying under rumors, keep perspective in mind. The iPad's a great product, but it's probably not a game-changer. Thank you. I'm Eric Bleeker.

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