Janney Calls Apple (AAPL) the 'Black Friday Winner' in PC Group
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Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 7 | New: 22
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Within the PC space, an analyst at Janney called Apple (Nasdaq: AAPL) the "Black Friday winner... with hot new products like iPad/MacBook Air and their annual One Day sale prices." The firm maintains a Buy rating and $385 price target on shares of Apple.
Janney noted that both sales and traffic looked strong at Apple retail locations. The firm said Apple had one day discounts of about $100 on Macs and about 10% on iPads, iPods and choice accessories. Janney also commented positively on Apple's gift card match ($125 store gift card for purchase of iMac desktop or MacBook, $30 gift card on iPod Touch). Although most of Apple's Black Friday deals sold-out, Janney's checks indicate that Apple stores have a solid inventory of MacBook's, iMac's, iPod's and iPad's.
The firm said that retail sources are suggesting retailers are cautiously optimistic about the holiday season "as PC OEMs/resellers have a tough growth compare because of the Windows launch last year."
Shares of Apple are down 0.6% to $313.06 today.
Janney noted that both sales and traffic looked strong at Apple retail locations. The firm said Apple had one day discounts of about $100 on Macs and about 10% on iPads, iPods and choice accessories. Janney also commented positively on Apple's gift card match ($125 store gift card for purchase of iMac desktop or MacBook, $30 gift card on iPod Touch). Although most of Apple's Black Friday deals sold-out, Janney's checks indicate that Apple stores have a solid inventory of MacBook's, iMac's, iPod's and iPad's.
The firm said that retail sources are suggesting retailers are cautiously optimistic about the holiday season "as PC OEMs/resellers have a tough growth compare because of the Windows launch last year."
Shares of Apple are down 0.6% to $313.06 today.
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