Apple's (AAPL) One-Day Shopping Event Has Larger Discounts vs Last Year
Get Alerts AAPL Hot Sheet
Price: $165.00 -1.22%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Apple (Nasdaq: AAPL) announced today it was giving away Apple store gift cards on select items including the iPad Air, the iPad mini, iPad 2, and others. The discounts are part of Apple's "one-day shopping event" and are a change from last year's cash discounts.
Commenting on the sale, Cantor Fitzgerald's Brian White said, "This year, Apple made big changes to its Black Friday discounts by offering Apple Store Gift Cards, instead of cash discounts. If you are a frequent buyer of Apple products, we believe this represents a better deal as the percentage discounts are higher than last year. For example, this year's discounts on Apple devices average approximately 15% (i.e., calculated at the entry price level) versus approximately 9-10% last year."
"In the iPad family, the iPad Air has been reduced by $75 across all models, and this represents a 15% discount for the $499 16GB iPad Air Wi-Fi version. Both models of the first generation iPad mini have been discounted by $50, with the $299 16GB iPad mini Wi-Fi version cut by 17%. Finally, both models of the iPad 2 received a $50 price cut, and this represents a 13% cut for the $399 16GB Wi-Fi iPad 2.
"The Mac family has been discounted by $150 across the MacBook Air, iMac, MacBook Pro, and MacBook Pro with Retina Display. All MacBook Air models have been discounted with the $999, 11-inch MacBook Air (128GB) receiving a 15% discount. Also, the iMac (12% savings at entry level), MacBook Pro (13% savings at entry level), and MacBook Pro with Retina Display (12% savings at entry level) have been discounted across the board. Also, Apple discounted the iPod touch family by $50 (i.e., a 17-22% savings at the entry level) and a $25 discount for the iPod nano for a 17% savings. Finally, the $99 Apple TV received a $25 discount, or 25%," added the analyst.
In White's view, Apple is best positioned in the tech world to benefit from this holiday season.
Cantor Fitzgerald has a Buy rating on Apple (NASDAQ: AAPL) with a price target of $777.00.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $545.96 yesterday.
Commenting on the sale, Cantor Fitzgerald's Brian White said, "This year, Apple made big changes to its Black Friday discounts by offering Apple Store Gift Cards, instead of cash discounts. If you are a frequent buyer of Apple products, we believe this represents a better deal as the percentage discounts are higher than last year. For example, this year's discounts on Apple devices average approximately 15% (i.e., calculated at the entry price level) versus approximately 9-10% last year."
"In the iPad family, the iPad Air has been reduced by $75 across all models, and this represents a 15% discount for the $499 16GB iPad Air Wi-Fi version. Both models of the first generation iPad mini have been discounted by $50, with the $299 16GB iPad mini Wi-Fi version cut by 17%. Finally, both models of the iPad 2 received a $50 price cut, and this represents a 13% cut for the $399 16GB Wi-Fi iPad 2.
"The Mac family has been discounted by $150 across the MacBook Air, iMac, MacBook Pro, and MacBook Pro with Retina Display. All MacBook Air models have been discounted with the $999, 11-inch MacBook Air (128GB) receiving a 15% discount. Also, the iMac (12% savings at entry level), MacBook Pro (13% savings at entry level), and MacBook Pro with Retina Display (12% savings at entry level) have been discounted across the board. Also, Apple discounted the iPod touch family by $50 (i.e., a 17-22% savings at the entry level) and a $25 discount for the iPod nano for a 17% savings. Finally, the $99 Apple TV received a $25 discount, or 25%," added the analyst.
In White's view, Apple is best positioned in the tech world to benefit from this holiday season.
Cantor Fitzgerald has a Buy rating on Apple (NASDAQ: AAPL) with a price target of $777.00.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $545.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple's (AAPL) Offer To Open Up Tap-and-go Tech To Be Approved By EU Next Month, Sources Say - Reuters
- AvidBank Holdings Inc. (AVBH) PT Lowered to $23 at Piper Sandler
- Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Retail SalesRelated Entities
Cantor FitzgeraldSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!