“Piper Jaffray reiterated an ‘outperform’ rating on Apple Computer, saying the company’s 2005 retail strategy will serve as a catalyst for revenue growth. ‘We believe the Street is underestimating the power of Apple’s retail strategy,’ Piper Jaffray said. ‘We feel that the ongoing rebound in the creative pro market will impact Apple sales. Also, we view last quarter’s results as the first evidence that adoption of iPod has been improving underlying demand for Macs.’ Piper Jaffray’s target price for Apple is $40,” Forbes reports.
Full article here.
I only have 32 shares… but I am still happy!
I think I bought ’em for a little over 13 bucks…
The steep end of the Learning Curve for Apple Retail is now over and the next wave is coming. Applying the lessons it has learned by going slow and careful even in the combined Tech Depression and Post 9-11 Economic Downturn, Apple is going to keep the party going and growing while making adjustments to it’s winning formula.
The initial rollout has proved the concept and covered the largest part of the US population while maintaining a small overall number, keeping the downside low. Nashville, Albuquerque, El Paso, Salt Lake City, Boise, Anchorage, Kansas City, Charleston, San Antionio and New Orleans should see Apple Stores announced or opening. Expect a large number of Kiosks in University Bookstores and smaller stores in shopping malls that fill the geographic gaps from the main rollout.
My bet is that by this time next year Apple will have expanded the Apple Store to Canada (Toronto and Vancouver first) and be working on additional stores in major European and Pacific Rim cities such as Paris, Rome, Madrid, Amsterdam, Berlin, Zurich, Moscow, Hong Kong, Beijing, Seoul, Taipei, Singapore, Sydney & Auckland.
Apple has played it smart and done it’s homework. The careful preparation has paid off and will become more apparent with time.
Too bad a lot of the Street has probably never been to an Apple Store.
Apple stores are amazing because they are simple in design, allow you to play around with the computers and they have sales people who don’t act like their trying to hump your leg when you set foot in the store.
*egads the Retail is division is profitable…
I didn’t know that was possible.. a profitable retail store.. it’s such a clunky business model
maybe apple is selling itself at a loss just so they can say they’re profitable *shrug..
Yeah, whatever, Mike. Retail stores are such a clunky business model . . . which is why Wal-Mart never went anywhere, and at the other end of the scale, neither did Tiffany’s.
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