Report: Tablets to outsell netbooks by 2012

Morgan Stanley analyst Katy Huberty has predicted that tablets will outsell netbooks by 2012.

According to CNN, Huberty has also raised her iPad sales estimate to 10 million units in calendar 2010 (from 6 million) and her Apple stock price target to $332 from $310.

“What’s turned her head? The blistering sales of the iPad and the diminishing growth of the netbooks,” explained CNN’s Philip Elmer-DeWitt.

“[Indeed], the iPad is on track to become the fastest ramping mobile Internet device out of the gate and one of the most popular in history, [while] early iPad usage patterns validate the tablet as a computing device.”

Elmer-DeWitt also noted the iPad has “already overtaken” the Web browsing share of devices such as the iPod touch.

“[And] it’s at least partially responsible for a sharp drop in the growth of netbook sales, which decelerated to -13% year-over-year in the month of April, from +45% in the first quarter of 2010,” he added.