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A Consumer Electronics Association survey found that “tablets were the most popular consumer electronics product this weekend, with 39% of those shopping for a consumer electronics product buying a tablet over the weekend or planning to buy one before the weekend was over.” Tablets are a hot commodity this holiday season and Apple Inc. (NASDAQ:AAPL) is leading the device party along with their other smartphone and computer products. Due to the overwhelming response to Apple’s merchandise, some are even calling this time of year, “an Apple iDevices Holiday Season”. In addition to Apple Inc. (NASDAQ:AAPL)’s well known products, top analysts are recommending BUY Apple stock for your financial portfolio.
Global Equities analyst Trip Chowdhry recommends BUY AAPL because, “demand for Apple products are at [an] all-time high, and is probably twice year-over-year.” While some demand might be from the natural shift of customers leaving Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) and BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), existing Apple users are demanding upgrades from their current products as well. Trip even surveyed 300 people at both Apple retail stores and stores carrying Apple Inc. (NASDAQ:AAPL) products such as Target, learning that the iPad Air 128GB and iPad Mini Retina 128GB were the most popular devices purchased. And the iPhone followed closely behind the rest of the iPad sales as the next desirable product. Trip is ranked 341 out of 2286 analysts and has a 4.2% average return over S&P-500.
Chris Whitmore is also calling this holiday season “an iPad Christmas”, recommending BUY AAPL and raising his price target from $575 to $625. Chris conducted his own store-and-product checks and found that, “[The store] checks show demand for iPhones, iPads and Macs was very robust and Apple stores enjoyed heavy traffic throughout the holiday weekend. In contrast to previous years, Apple Inc. (NASDAQ:AAPL) appears to be managing solid levels of supply at its retail stores and inventory restocking was frequent.” And “the discounts/gift cards appear to have catalyzed incremental demand for Apple products which are rarely discounted.” And even the beloved iPhone was still a top seller: “checks at AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ) and Sprint Corporation (NYSE:S) stores showed iPhones were the most popular choice among consumers and sales representatives almost universally suggested we buy an iPhone 5S over other smartphones.” Chris is ranked 973 out of 2268 analysts.
If you look at your holiday wish list, it is very likely that an Apple product, or two, is somewhere towards the top. And if Apple Inc. (NASDAQ:AAPL) is not currently on your financial wish list, these analysts are recommending you BUY AAPL. Instead of just taking their word for it, be sure to review each analyst’s recommendation history with the TipRanks accountability engine. Download TipRanks today and learn whose financial advice you should trust.
Chris Whitmore, Trip Chowdhry are Global Equities analysts of TipRanks, a financial accountability add-on browser.