- ThinkEquity's Jonathan Hoopes notes that on Sept. 25th, his firm raised their Apple (NASDAQ:AAPL) price target to $100 based on an analysis that suggested Apple's strong back-to-school CPU share-gain momentum would carry into the December quarter. Today, they are raising their price target to $110 as our proprietary 'Black Friday' survey of Apple Retail stores across the nation indicates likely upside to our Retail Store revenue estimate of $1.45 billion for fiscal 1Q07. Apple's Retail Store is a clear differentiator and significant catalyst for further CPU share gains and profit margin expansion, in firm's view. Reiterates BUY rating.
According to ofirm's math, Apple Retail Store visitor traffic ranged between 860,000 and 916,000 on Black Friday. Moreover, Apple Retail Store revenues likely ranged between $36 million and $41 million on November 24th. By extension, the holiday season is set to deliver between $813 million and $916 million of revenues for Apple's Retail segment.
Notablecalls: I think the main reason this call will get some attention is because it's the first time AAPL's tgt goes over the $100 level. Expect to see some buy interest but I'd generally be looking for a fading oppy. Especially with this tape.
According to ofirm's math, Apple Retail Store visitor traffic ranged between 860,000 and 916,000 on Black Friday. Moreover, Apple Retail Store revenues likely ranged between $36 million and $41 million on November 24th. By extension, the holiday season is set to deliver between $813 million and $916 million of revenues for Apple's Retail segment.
Notablecalls: I think the main reason this call will get some attention is because it's the first time AAPL's tgt goes over the $100 level. Expect to see some buy interest but I'd generally be looking for a fading oppy. Especially with this tape.
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