2 Retailers The Apple Event Could Boost Today
Brian Sozzi, CEO of Belus Capital Advisors commented on two retailers that could benefit from Monday's Apple Inc.'s (NASDAQ: AAPL) event.
Sozzi told Benzinga that Best Buy Co Inc (NYSE: BBY) will benefit because it will now have a fresh product on its sales floor it didn't have a year ago. However, the analyst noted the impact "may not be as great as one would think" as consumers will likely want a deeper understand of the Apple Watch –- a benefit gained through Apple's retail store.
Meanwhile, Reuters reported on Sunday that sources with direct knowledge of the matter said that Best Buy may not get the watch at launch time, though the company wouldn't comment on the matter with the publication.
Sozzi added that Whole Foods Market, Inc. (NASDAQ: WFM) is another beneficiary as Apple Pay has already helped drive efficiencies and boost the guest experience. The analyst speculated that the Apple Watch will do the same.
Shares of Apple traded recently at $127.45, up 0.67 percent.
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