Apple Stock May Get a Boost from Black Friday
Apple Inc. (NASDAQ:AAPL) has been facing the ire of Donald Trump since the time of his election campaign. However, under the continuous negative news flow surrounding Apple stock, the holiday weekend is likely to bring welcome cheer to the smartphone maker.
Apple Black Friday 2016 deals are likely to boost the sales of its products. AAPL stock really needs a catalyst right now and upbeat demand is just the trigger that investors are looking for. Apple Stock has just managed to cross the levels that it had dropped to post-Trump victory.
Apple Black Friday Deals
Apple did not participate in Black Friday last year but it is going to be raining offers this Apple Black Friday 2016. Apple has posted on its website the latest deals for its buyers. The company is offering free “Apple Gift Cards“ worth up to $150.00 on select Apple products today instead of giving direct discounts.
With the purchase of select SIM-free “iPhone” models, the customers get a gift card worth up to $50.00, select “iPad” models come with a $100.00 gift card, “Apple Watch Series 1” comes with a $25.0 gift card, select “Mac” computers come with a gift card of $150.00, and “Apple TV” buyers can get a $25.00 Apple Gift Card.
However, new products like the “iPhone 7” and “MacBook Pro with Touch Bar” are not eligible for the gift card promotion.
There may be better Apple Black Friday deals available at other retailers, but the point is that the company’s decision to participate in this shopping extravaganza is a clear indication of how important the event is to Apple this year. The company has been under intense scrutiny from analysts and investors who think that slowing iPhone sales may impact the future of Apple Inc. This has hit AAPL stock hard in the past.
Some analysts are quite optimistic on Apple Black Friday deals this holiday shopping season. Drexel Hamilton, LLC analyst Brian White said that despite competition, Apple is expected to be one of the winners this holiday season. The company has an impressive line of products ranging from the iPhone 7 and “iPhone 7 Plus,” to a new Apple Watch and a new MacBook Pro with Touch Bar. He believes that Apple is one of the best positioned tech companies to benefit from spending trends this holiday season. The firm reiterated a “Buy” rating on AAPL stock with a price target of $185.00. (Source: “Apple back with Black Friday Savings – Drexel Hamilton,” StreetInsider.com, Inc., November 25, 2016).
Apple stock closed the last session at $111.23 and its future gains will depend on how customers respond to Apple Black Friday deals.