Can Apple Beat Black Friday Blues?
If you’re a tech type, your heart probably started racing when you heard that Apple was having a sale on Black Friday.
It’s widely known that the company keeps a tight reign on prices. However, on its website the company is touting its Black Friday sale as "a one-day shopping event not to be missed."
And according to the website Apple Insider Apple is preparing to offer its deepest Black Friday discounts ever.
"Historically over the last couple years, Apple has offered discounts between 5%-10% but we think there may be discounts of up to 15% this year on Macs, iPods and accessories. It is not clear to us if iPhone will see a discount as well."
Now, you know the Holiday shopping season is expected to be dismal for most retailers, but how about Apple? Their customers are more upscale than most retailers and their products still have the “it” factor working in their favor.
So what can you expect from Apple going forward?
Perhaps good things. The stock climbed higher Wednesday after JPMorgan lifted profit estimates for 2009 and 2010 on promising sales of notebooks. It’s worth noting Oppenheimer is bullish on iMacs.
And Piper Jaffray analyst Gene Munster, ever the Apple bull, tells Fast Money that he expects Apple to ship as many as 2.7 million Macs and 19 million iPods – beating expectations.
“Following 25 hours of counting iPhone and Mac sales in Apple stores across the country we believe the current quarter is tracking in-line with Street expectations. Driven by the Oct. launch of new MacBooks, Macs (and notebooks in particular) are selling well despite the weakened consumer confidence.”
He reiterated his confidence in a new research note in which he wrote, “We continue to expect upside.” And on Fast Money he told the traders, “in a tough economy this stock should do better than most.”
If you’d like to see Munster’s complete report, click here and we’ll take you to AppleInsider which offers up the full text.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
Trader disclosure: On Nov. 26, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (NUE), (MSFT); Macke Owns (UUP), (MSFT), (WMT), (GM); Macke Is Short (TM); Finerman's Firm Owns (DSX), (RIG), (MSFT); Finerman's Firm Is Short (IYR), (MDY), (IWM), (SPY), (GNK), (EXM), (BBT), (COF), (USO); Terranova Owns (DIS), (XOM), (GIS)
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CLB), (DLR), (EPR), (EXR), (MAC), (SLB), (SKT), (UA), (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns More Than 1% Of Shares Of Corporate Office Properties Trust SBI MD
GE Is The Parent Company Of CNBC
Piper Jaffray Is A Market Maker In (AAPL),(AMZN),(EBAY)