ThinkEquity reiterates ‘buy’ rating, raises Apple price target to $110

ThinkEquity’s Jonathan Hoopes raised his price target to $110 based on ThinkEquity’s proprietary “Black Friday” survey of Apple Retail stores across the nation which indicates likely upside to their 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,” StreetInsider reports. “According to the firm’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.”

Full article here.

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13 Comments

  1. “Apple’s Retail Store is a clear differentiator and significant catalyst for further CPU share gains and profit margin expansion, in firm’s view.”

    HA! Remember when the Apple Stores were first launched and everyone was preaching that they would do a bellyflop?

  2. All private property is theft! Everything belongs to the people! What doesn’t belong to the people belongs to Microsoft!

    You capitalist running dog roaders shall be the first to die come the revolution!

    Your potential. Our Politburo!

  3. Zune Tang is right. Zune definitely belongs to Microsoft. They created it, and no one buys it, so it still belongs to M$. Meantime, Apple has created millions of iPods, which belong to millions of customers. It’s nice how that works.

    5 Zune Points to you, my friend!

  4. I’m curious about Apple’s strategy when it comes to stock splits. My view is that there are plenty of shares out there. I’d like to see the stock price continue to grow to match Apple’s “premium” reputation.

  5. @ R:

    While it would be nice to see Apple’s stock price soar to an unprecedented price, it would only make the mac community seem elitist. This is something that we should try to avoid. It would only fuel more hate and discontent amongst the masses (“non-macs”). I would like for them to enjoy the fruits of our labor-no pun intended.

  6. R: By splitting the stock on a forward basis, more people can afford to become Apple shareholders — thereby expanding the shareholder base and giving even further support for the stock down the road. Only Buffet wants his stock to continue to rise indefinitely with no splits — his approach is an anomaly, not standard practice. That approach does not necessarily impute a “premium” reputation — it only makes BH different. Not a good approach for most companies, including Apple.

  7. I enjoy being “always right”, and thus, elitist.
    I WAS right when I went Mac 16 years ago, and everyone else scoffed.

    Let ’em eat cake.

    BTW, is that the best measure of potential upside that an analyst can muster?
    BASED ON RETAIL SALES ON BLACK FRIDAY?

    Gee, maybe I can git ME one of them there “analysis” jobs.

  8. I love Apple’s strategy. By keeping the stock low the average person can afford to get in on the action. The more average people in on the action, the more people out there who will be able to afford to buy new Macs!

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