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New iPad is key to Apple's bottom line

As Apple prepares to launch its new version of the iPad Friday, the acceptance of the device is key to the company’s ability to maintain its strong momentum, according to CNBC’s John Fortt.

Apple sold 15.4 million units of the previous version of the iPad last quarter, accounting for $9.2 billion in overall sales, which accounted for almost 20 percent of the company’s revenue of the holiday quarter, Fortt said. Behind the iPhone, the iPad is Apple’s biggest product.

The rally in Apple’s stock price has been remarkable, up 47 percent for the year and nearly 10 percent for the month. It moved above $600 for the first time ever Thursday. To maintain its momentum, Apple’s new iPad needs to be a big success, Fortt says.