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Wall Street Is Showing A Lot Of Love For Apple After Strong Black Friday Sales

Wall Street Is Showing A Lot Of Love For Apple After Strong Black Friday Sales

December 2, 2013
Buoyed by strong Black Friday sales, Apple is being shown a lot of love by some of the experts on Wall Street. Two analysts have raised price targets on Apple stock, according to Fortune. Deutsche Bank’s Chris Whitmore notes “We have become significantly more confident in our near-term estimates for Apple.” As a result, he has raised his price target to $625 from $575. Meanwhile, Global Equities Research's Trip Chowdhry has raised his price target to a Wall Street high of $800. His report to investors offered some interesting tidbits:
  • iPad Air 128GB and iPad Mini Retina 128GB were the most popular devices
  • Wi-Fi versions of iPad were out-selling Carrier versions by 3:1
  • Customers chose higher memory of 128GB, as most of the customers we spoke to, said "We used to store only music before, now we store HD movies also”
  • White Color iPads were preferred by females, while Space Grey iPads were preferred by males
  • All the customers opted for Apple Smart Cover, with about 20% opting for leather cover
  • We could not observe any significant trends among the sales of the other various iPads
  • iPhone 5S sales closely followed overall iPad Sales (all version).
  • iPhone 5S on AT&T continues to remain very popular, followed by Verizon, followed by Unlocked iPhone5S and then Sprint
Finally, Piper Jaffray’s Gene Munster has concluded that interest in the iPad mini with Retina display was “better than expected.” He says that his December quarter sales estimate of 24.5 million iPads may have been too “conservative.” Last week, Apple stock closed at $556, which was a $10 increase for the day. For the quarter, the stock is now up 17 percent. For the year, AAPL is up 5 percent.

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