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.

Don't worry if you missed out on that first wave, iPad hopefuls! Hopefully the next round of production will fix the reported backlight leakage that some early adopters have experienced. [Fortune]