AAPL Up As Market Soars
Stocks are surging in morning trading on optimism over the latest round of proposals to corral the growing euro zone debt crisis.
Retail sales were particularly strong over the holiday weekend as well. Shares of AAPL are up with the rest of tech and on the heels of retail strength. Catalysts include
iPhone upgrade cycles and adoption; update to the
iPad in early 2012; continued market share growth of the Mac business line; penetration in China and emerging markets; the evolution and potential re-conception of
Apple TV; and platforms such as mobile advertising (iAd), books / publishing, gaming, mapping and social (
Ping, see below). Shares of
Apple trade at
8.2x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities).
Royal Caribbean Latest iPad Use Case For The Enterprise (USA Today) As more corporations turn to Apple as a crowd pleaser, Royal Caribbean announced it would have an iPad in every cabin of its Splendour of the Seas (over 1,800 rooms) ship by mid-February. It will add iPads to the cabins of five more of its 22 ships within two years. It will be programmed to let passengers access the ship's daily listing of events and activities. Passengers will also be able to use the devices to monitor their onboard account, order room service, view restaurant menus, access the Internet and watch movies.
Read » iPads And Macs Are Flying Off The Shelves (Business Insider) Gene Munster and his team at
Piper Jaffray staked out Apple stores on Black Friday to see what people were buying. They observed sales of 15 iPads per hour in Apple Stores, which is up 68% year-over-year, and sales of 10 Macs per hour which is up 25% compared to last year. Clearly not an exact science, but Munster says it gives him confidence in his estimate of 13.5 million iPads for the December quarter, which would be 84% growth from last year.
Read » Apple Had The Biggest U.S. Sales Day Ever On Black Friday, According To Source (9To5Mac) A source inside Apple Retail shared numbers for Apple’s Black Friday sales event. Of course, Black Friday is always huge shopping day and Apple forecast at least 4x sales for the day. Because Apple did have the lowest prices on big ticket items, it blew away forecasts by that evening, having its biggest sales day in the U.S. of all time.
MacBook Air sales were particularly strong.
Read » iPhone And iPad Dominate Mobile Shopping On Black Friday (IBM) According to the IBM Smarter Commerce survey, online sales for Thanksgiving Day were up 39.3% from last year, Black Friday sales were up 24.3% and purchases made on mobile devices was up 200% from 3.2% in 2010 to 9.8% this year. Also highlighted was Apple. "Collectively iPhone and iPad accounted for 10.2% of all online retail traffic on Black Friday." There was a relatively weak showing by devices running
Android, despite a market share that dwarf's Apple's
iOS.
Read » Online Black Friday Sales Up 26% Over Last Year, A Good Sign For Apple (comScore) Good news for e-commerce, U.S. online spending for the first 25 days of this holiday season reached $12.7 billion, marking a 15% increase versus the corresponding days last year. Black Friday this year saw $816 million in online sales, making it the heaviest online spending day to date this year and represents a 26% increase over last year. Thanksgiving Day, while traditionally a lighter day for online holiday spending, achieved a strong 18% increase to $479 million.
Read » Retail Black Friday Sales Up 7% Over Last Year, Another Good Sign For Apple (ShopperTrak) According to ShopperTrak, retail Black Friday sales increased 6.6% to $11.4 billion, the largest amount ever, as U.S. consumers shrugged off worries surrounding the global economy and went shopping. That is the largest year-over-year gain since 2007. Retail foot traffic rose 5.1% this year however customers are visiting fewer stores per shopping trip, with an average 3.1. Holiday shoppers are becoming more accustomed to looking for sales and research purchases online beforehand (as demonstrated by the previous summaries).
Read » Daily Trader: Another Short Case For Apple Stock (Mercenary Trader)While there are only a few companies that have been successful in building cult-like loyalty among both consumers and investors, Apple being one of them, here is the bear case:
- Valuation: Apple’s above-average growth days are in the rear-view mirror and investors are coming to terms with the fact that this is a high-quality, mature company.
- Technicals: With uncertainty levels high in the market already, if Apple doesn't find support around the $363 level (the 200-day exponential moving average), it could be a major shock and lead to panicked selling from investors with less confidence.
- Risk Vs. Reward: We are always working with imperfect information. Who knows when the Apple TV will be launched. Still, with the market wavering through the European debt crisis and stocks heading lower, the path of least resistance for Apple appears to be heading south.
And action in the overall market is currently punishing speculative bulls and rewarding traders who anticipated a flight to quality.
Read more at Business Insider.
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