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Just in time for the holiday shopping season, Piper Jaffray's Gene Munster has repositioned Apple stock into the firm's elite Alpha list on Monday, a category typically reserved for companies whose shares hold "potential for significant near-term appreciation."
Despite the recent pull-back in share prices, Munster says he still expects above-average appreciation over the next 90 days as Apple shares benefit from both the company's largest product lineup ever and a seasonally strong December quarter. History seems to be with Munster on this one, as well.
As a part of his research note, Munster appended a historical chart outlining Apple's holiday stock performance over the last three years. Apparently, the company's stock tends to rally about 43 percent from the fourth calendar quarter all the way through MacWorld -- the typical venue for Apple to announce its new or updated products.
And while Blackfriar's Carl Howe admits that it's excessively difficult to predict any company's short-term stock price movement, he is in full agreement with Munster's enthusiastic holiday assessment:
We'll see if the new Chestnut Street store in San Francisco, slated to open on Black Friday, does anything to relieve those projected holiday crowds. Remember, California and its soon-to-be 37 Apple stores contribute the lion's share of retail revenue for the company.
Photo: enthusaroo
[Via Apple Insider]
