Ticonderoga Maintains a 'Buy' on Apple (AAPL); Portfolio Continues to Look Well Positioned for the Holidays
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Price: $439.66 -0.74%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
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Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $450.
Ticonderoga analyst says, "Regardless of The Final Black Friday Data, Apple Well Positioned. Both ShopperTrak and the National Retail Federation released estimates on retail sales for Black Friday but reached different conclusions. ShopperTrak estimates Black Friday sales rose just 0.3% versus a year ago to $10.69 billion. This compares to a 0.5% increase during the Black Friday in 2009..."
"Apple Offers Certain Black Friday Discounts, iPad Benefits. Last Friday, Apple held a "special one-day shopping event" at Apple retail stores (and online) with discounts on specific high-profile products such as the iMac, MacBook Pro, MacBook Air, iPod nano, the iPod touch and the iPad. The Apple stores in our neighborhood remained crowded well past the Black Friday sale and into Sunday evening. In our view, the buzz surrounding the discounted iPad was strong amongst consumers and likely outperformed others over the holiday weekend..."
"Apple is Still the One to Own For the Holidays and Beyond. With the powerful combination of Apple's iPad, iPhone 4, refreshed iPod/iPod touch portfolio, the new MacBook Air and Apple TV, we believe Apple is positioned for a big holiday season this year. With the holiday shopping in full swing and our expectations for a strong 2011 for Apple, we would be aggressive buyers of Apple in preparation for what we believe will be a holiday season to remember for the company. Additionally, the stock is trading at just 13x our CY11 EPS estimate (ex-cash)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $315.00 yesterday, with a 52 week range of $188.68-$320.18.
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Ticonderoga analyst says, "Regardless of The Final Black Friday Data, Apple Well Positioned. Both ShopperTrak and the National Retail Federation released estimates on retail sales for Black Friday but reached different conclusions. ShopperTrak estimates Black Friday sales rose just 0.3% versus a year ago to $10.69 billion. This compares to a 0.5% increase during the Black Friday in 2009..."
"Apple Offers Certain Black Friday Discounts, iPad Benefits. Last Friday, Apple held a "special one-day shopping event" at Apple retail stores (and online) with discounts on specific high-profile products such as the iMac, MacBook Pro, MacBook Air, iPod nano, the iPod touch and the iPad. The Apple stores in our neighborhood remained crowded well past the Black Friday sale and into Sunday evening. In our view, the buzz surrounding the discounted iPad was strong amongst consumers and likely outperformed others over the holiday weekend..."
"Apple is Still the One to Own For the Holidays and Beyond. With the powerful combination of Apple's iPad, iPhone 4, refreshed iPod/iPod touch portfolio, the new MacBook Air and Apple TV, we believe Apple is positioned for a big holiday season this year. With the holiday shopping in full swing and our expectations for a strong 2011 for Apple, we would be aggressive buyers of Apple in preparation for what we believe will be a holiday season to remember for the company. Additionally, the stock is trading at just 13x our CY11 EPS estimate (ex-cash)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $315.00 yesterday, with a 52 week range of $188.68-$320.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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