Piper Jaffray Said "Gravitational Pull" Of Apple (AAPL) Stores Highlights Future Shift Away from PCs to Apple

November 26, 2007 8:55 AM EST
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Piper Jaffray comments on Apple (Nasdaq: AAPL) after spending six hours monitoring traffic at Apple retails stores in the Midwest and east coast on the initial holiday shopping weekend.

Piper analyst Gene Munster highlighted the "gravitational pull" of the stores, noting that 27% of the people walking within 25 feet of an Apple store entered.

Commenting on the "gravitational pull" of the stores, Munster said, "Only a fraction of shoppers actually purchased anything from the Apple stores. The important point is this gravitational pull highlights that consumers' future buying intentions could be shifting to Apple from PCs. If materialized, this shift should benefit Apple in 2008 and 2009."

The firm reiterated their Buy rating and $250 price target on Apple.

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