By Sam Boughedda
Investing.com — Target Corporation (NYSE:TGT) said Tuesday that it will be adding even more dedicated Apple Inc (NASDAQ:AAPL) at Target shop-in-shop locations.
Shares of Target fell 1% on Tuesday.
The general merchandise retailer said it is more than doubling the number of Apple shops to 36 stores from 17 just in time for holiday shopping to "offer guests more Apple products and accessories."
The company said the incredible response to the first locations, which were opened in February, played a significant factor in the move to add more Apple shop-in-shop experiences.
“With the expanded Apple at Target shop-in-shop experiences, we’re elevating this even further. And coupled with the added convenience of our same-day fulfillment services and new price match guarantee all season long, guests know they can turn to Target with confidence during the holidays, whether that’s in store or online,” said Nikhil Nayar, senior vice president of hardlines at Target.
The news comes hot on the heels of Apple's Monday afternoon announcement of its new, revamped Macbook Pro, which saw Apple's stock price close over 1% higher.
Following the news of the new Macbook, JP Morgan analyst Samik Chatterjee said he sees the company reporting a "solid" fiscal Q4 beat, led by strong demand for the iPhone 12 series, Macs, and Services. Chatterjee kept an Overweight rating an $180 price target on the stock.