Apple Gets Back In The Holiday Shopping Spirit With One-Day Sales Event

Brian White of Drexel Hamilton believes Apple Inc. (NASDAQ: AAPL) remains one of the best positioned tech companies to benefit from spending trends this holiday season with a well-received iPhone 7/7 Plus, a new Apple Watch and a new MacBook Pro with Touch Bar.

The comments came as Apple kicked off Black Friday discount sale after skipping it last year. Apple’s traditional "one-day shopping event" for today comes with Apple Gift Card discounts across products such as the iPhone, iPad, Apple Watch, Mac and Apple TV.

White has a Buy rating on Apple, with $185 target price.

Following are the list of discounts offered by the Cupertino, California-based company for its various products at its one-day event:

iPhone

Apple is offering an implied discount of 6 percent to 9 percent for iPhones. Apple is offering $25 and $50 Apple Gift Cards across select SIM-free iPhones, including the iPhone SE ($25 Apple Gift Card), iPhone 6s ($50) and iPhone 6s Plus ($50).

iPad

For iPads, Apple is offering $50 and $100 Apple Gift Cards across the iPad Pro 9.7-inch ($100), iPad Pro 12.9-inch ($100), iPad Air 2 ($50) and iPad mini 4 ($50). This implies a discount of 8-17 percent. The iPad Pro 9.7-inch, 32GB with Wi-Fi only was introduced in March and holds an implied discount of 17 percent.

Mac

For Macs, Apple is offering $150 Apple Gift cards across the MacBook, MacBook Pro 13-inch, MacBook Pro 15-inch, MacBook Air, iMac (21.5-inch and 27-inch) and Mac Pro. This implies a discount of 4-15 percent.

Apple Watch

Apple is also offering an 8-9 percent discount for Apple Watch. Apple is providing $25 Apple Gift Cards across the 38mm and 42mm Series 1 models (aluminum; Silver, Gold, Rose Gold, Space Gray).

Apple TV

For Apple TV, the company is offering a $25 Apple Gift Card for both the 32GB and 64GB models. This implies a discount of 13–17 percent.