Ticonderoga Channel Checks on Apple's (AAPL) iPad 2; A Faster International Ramp This Year, And Of Course, More Stock Outs
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Price: $316.83 +2.19%
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $550.
Ticonderoga analyst says, "On Friday, Apple launched iPad 2 in 25 new countries and this international roll out is coming on at a much faster pace compared to the iPad 1 of last year. Our checks at Apple stores in international markets highlight a continuation of the iPad 2 stock out phenomenon found in the U.S. over the past couple of weeks, however, we believe the U.S. stores received greater volume levels (i.e., per store) during the initial selling days. For example, our checks indicate that iPad 2 sold out within a couple of hours at Apple stores in Germany (e.g., Munich, Frankfurt, Hamburg, Oberhausen), while stores in the U.K. (e.g., London, Liverpool, Aberdeen), Paris, Zurich, Toronto and Barcelona were in the same boat with hundreds people waiting and stock outs during the first day."
(Analyst Brian White notes: On Friday, the iPad 2 was launched in Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the U.K.)
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $351.54 yesterday.
Ticonderoga analyst says, "On Friday, Apple launched iPad 2 in 25 new countries and this international roll out is coming on at a much faster pace compared to the iPad 1 of last year. Our checks at Apple stores in international markets highlight a continuation of the iPad 2 stock out phenomenon found in the U.S. over the past couple of weeks, however, we believe the U.S. stores received greater volume levels (i.e., per store) during the initial selling days. For example, our checks indicate that iPad 2 sold out within a couple of hours at Apple stores in Germany (e.g., Munich, Frankfurt, Hamburg, Oberhausen), while stores in the U.K. (e.g., London, Liverpool, Aberdeen), Paris, Zurich, Toronto and Barcelona were in the same boat with hundreds people waiting and stock outs during the first day."
(Analyst Brian White notes: On Friday, the iPad 2 was launched in Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the U.K.)
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $351.54 yesterday.
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