The iPad recently hit the 1 million units sold mark. Apple’s (News - Alert) tablet device now is poised to reach the $1 billion sales mark.

According to a recent story sourcing Carl Howe of the Yankee Group (News - Alert), the analyst says the iPad will reach that benchmark – which will set another record on the consumer device front – by the end of May if it keeps selling at its current rate.

The Apple iPad became available in the U.S. on April 3. And TMCnet reportsthat Apple will begin taking preorders for the iPad in nine additional countries starting Monday.

"Demand continues to exceed supply and we're working hard to get this magical product into the hands of even more customers," Apple CEO Steve Jobs (News - Alert) said in a statement earlier this week.