Analysts Weigh-In On Apple's (AAPL) Black Friday Results
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Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 18 | New: 10
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A number of analysts commented on Apple's (Nasdaq: AAPL) Black Friday results. Piper Jaffray said Mac sales were better than expected and iPhone sales were in-line. Deutsche Bank said Macs and iPods are tracking in-line to modestly above their estimates and iPhones are tracking in-line.
Piper Jaffray's Gene Munster noted Mac sales on black Friday were better than expected and iPhone sales were as expected. The firm noted that Apple's one-day black Friday sale was consistent with previous black Friday sales with seven sale items and discounts of about 8%. The firm said Mac sales averaged 13 per hour, up from 2 per hour from their study earlier in November. iPhone sales averaged 3.4 per hour, up from 1.3 per hour from their study earlier in the November. The firm is reiterating their Buy rating and $250 price target on Apple.
Deutsche Bank conducted retails checks at 125+ Apple retail stores, Best Buy and AT&T and a series of online checks (Apple, Amazon, Best Buy, Circuit City, Macmall, Target and Walmart). The firm said, "we believe Black Friday demand for Apple was solid considering the macro backdrop. We believe both Macs and iPods are tracking in-line to modestly above our unit and ASP estimates while iPhone is likely tracking in the 5M unit range for the quarter." Deutsche Bank noted that Apple has stocked sufficient supply at its own stores and partners to meet the holiday demand with very few stock outs. The firm is reiterating their Buy rating and $150 price target on Apple.
Piper Jaffray's Gene Munster noted Mac sales on black Friday were better than expected and iPhone sales were as expected. The firm noted that Apple's one-day black Friday sale was consistent with previous black Friday sales with seven sale items and discounts of about 8%. The firm said Mac sales averaged 13 per hour, up from 2 per hour from their study earlier in November. iPhone sales averaged 3.4 per hour, up from 1.3 per hour from their study earlier in the November. The firm is reiterating their Buy rating and $250 price target on Apple.
Deutsche Bank conducted retails checks at 125+ Apple retail stores, Best Buy and AT&T and a series of online checks (Apple, Amazon, Best Buy, Circuit City, Macmall, Target and Walmart). The firm said, "we believe Black Friday demand for Apple was solid considering the macro backdrop. We believe both Macs and iPods are tracking in-line to modestly above our unit and ASP estimates while iPhone is likely tracking in the 5M unit range for the quarter." Deutsche Bank noted that Apple has stocked sufficient supply at its own stores and partners to meet the holiday demand with very few stock outs. The firm is reiterating their Buy rating and $150 price target on Apple.
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Piper Jaffray, Deutsche Bank, Gene Munster
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