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Cyber Monday Strategy Session w/ Gene Munster

The S&P Retail index closed lower on Monday after the National Retail Federation said that total Black Friday holiday spending was down from last year, suggesting that consumers were still reluctant to open their wallets.

However, there was a bright spot in retail – or should we say e-tail. According to comScore, online spending was the highest it’s ever been on Black Friday and Cyber Monday spending is expected to be even stronger.

On the news Amazon shares hit an all-time high of $135.25 in intraday trading.

In fact, conScore has estimated that U.S. online sales in November and December should rise at least 3 percent this year.

What’s the trade?

I think Amazon has plenty of room to run, says Piper Jaffray analyst Gene Munster. If you look at the percentage of buying done online -- it is under 10%. I don’t think the story is what happens this December; it’s what happens over the next 2-5 years.

Also look at Apple , counsels Munster. Although sales at their stores were down their online sales were spectacular.


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