According to industry analyst Gene Munster, Apple’s iPad 2 launch may have surpassed even Apple’s own expectations, claiming that the company might have sold as many as 400,000-500,000 units in the first 24-hours of availability.

Munster also claims that the device was so popular that Apple completely sold out by Saturday morning, with little or no further sales via Apple taking place Saturday afternoon through Sunday.

According to analyst Gene Munster—who had a dubious record with original iPad estimates—the iPad 2 is totally sold out, and has been since Saturday.

Munster estimates that Apple sold between 400,000 and 500,000 tablets after just 24 hours of availability, with 70% of buyers getting their grubby little mitts on their very first iPad.