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.”
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