Before the iPad went on sale for pre-order, analysts were throwing numbers as high as 5 million units sold in 2010. Not anymore. After looking at pre-order sales, Wall Street is encouraged and have started revising their numbers.

Apple’s manufacturing partners have started raising their estimates as well in anticipation of strong sales. The company’s manufacturing partners now expect to sell as many as 2.5 million iPads in the March-May timeframe. Katy Huberty, Analyst, Morgan Stanley, previously set her estimate at 750,000 units for the June quarter.

Manufacturing partners and analysts collectively have raised their estimates from the previous 5 million units for calendar year 2010 to between 8-10 million now.

In a note to investors, she wrote, “We continue to believe the market under-appreciated longer-term iPhone/iPad demand.” [AllThingsD]