AAPL Stock Price Increased Over 2% Intraday: Why It Happened

By Amit Chowdhry ● February 26, 2021
  • The stock price of Apple Inc. (NASDAQ: AAPL) increased by over 2% during intraday trading. This is why it happened.

The stock price of Apple Inc. (NASDAQ: AAPL) increased by over 2% during intraday trading. Investors appear to be responding to a new deal with Target.

Yesterday evening, Target announced an enhanced Apple shopping experience for its guests. And the new shopping experience debuts online and will begin rolling out in select locations this month with additional locations scheduled to roll out by the end of this fall.

This retail collaboration builds on Target and Apple’s more than 15-year relationship by combining Apple’s latest products with the convenient shopping experience and fulfillment services Target’s guests love. And the new shopping destination offers an even easier way to shop for Apple products at Target by bringing these products and accessories together in one space that has been designed for guests to experience new products through demonstrations and knowledgeable Target Tech Consultants, who will receive specialized training from Apple.

This new initiative with Apple is building on Target’s success with other strategic partners including Disney, Ulta Beauty and most recently, Levi Strauss & Co., which makes Target more of a destination for the most sought-after national brands along with its stable of coveted owned brands. Target and Apple collaborated on the enhanced experience — which extends the assortment of Apple products at Target. 

The dedicated space features new lighting fixtures and displays for iPhone, iPad, Apple Watch, AirPods, HomePod, Apple TV and other Apple accessories. And on Target.com or via the Target app, guests will now find a dedicated Apple experience that features an extended assortment of Apple accessories.

Along with the new buying experience, Target guests can take advantage of all the benefits of shopping at Target when they visit the dedicated in-store and online Apple shopping destination such as 5% off their Apple purchases when using their Target RedCard as well as Target’s convenient pickup and delivery options, including Drive Up, Order Pickup and same-day delivery with Shipt.

Store List

The dedicated Apple shopping destinations will begin setting at the following 17 Target stores with additional locations rolling out in 2021:

T2180    (Monticello, MN)

T0324    (San Jose, CA)

T1397    (Oklahoma City, OK)

T2516    (Allen, TX)

T1766    (Hurst, TX)

T1797    (Austin, TX)

T1032    (Irving, TX)

T1354    (San Antonio, TX)

T0687    (Gainesville, FL)

T1790    (Orlando, FL)

T1820    (Clearwater, FL)

T2848    (Miami, FL)

T1159    (North Wales, PA)

T2764    (Newark, DE)

T1266    (Woburn, MA)

T1532    (Nashua, NH)

T1915    (Latham, NY)

KEY QUOTE:

“Apple products are popular with Target’s guests, and this new, dedicated shopping experience offers enhanced service and expanded offerings, building on our strength as a go-to destination for electronics. This new model was created with Target’s guests in mind, and we’ll continue to learn and enhance the experience through future rollouts later this year.”

— Christina Hennington, executive vice president and chief growth officer at Target

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.