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Did Target's CEO Brian Cornell Signal Good Times Ahead For Apple?

This article is more than 7 years old.

Early this morning,  Target  reported numbers that were a disappointment to investors. Target shares are down over 6% as a result. However, in the Q&A that followed results, did the CEO and CHB, Brian Cornell, of Target give us a small but cryptic glimpse into  Apple's  brighter future going into year end?

Asked by the Goldman Sachs analyst Matt Fassler if the decrease was a result of soft iPhone sales, Brian Cornell asserted the problem to be a "broader story across the product suite." He further indicated: "Our guests come to us looking for those products. They are looking for the newness and the innovation and we are putting together plans with Apple and our merchandising teams to make sure we are ready to take advantage of that in the back half of the year."

The fact that Apple sales were slightly weak in Q2 is no secret to anyone. Most folks chose to see the negativity in the statement from Cornell, however read the second part of his comments once again.

"Our guests come to us looking for those products. They are looking for the newness and the innovation and we are putting together plans with Apple and our merchandising teams to make sure we are ready to take advantage of that in the back half of the year."

To me it reads that Target is getting ready for Apple products that will not only be new (that we know from the expected launch of the iPhone7, and a revamp of the iPad, MacAir and maybe Apple Watch 2 as per the rumor mill) however the word "innovation" is what I zoomed in on.

To me, the statement says that Apple does have some innovation coming soon that has not been leaked as yet nor has it been speculated about in the various websites devoted to Apple and its products.

Maybe, the darksiders will say I am reaching for straws but after more than a year of mediocrity, I think Apple might just be ready to razzle and dazzle once again.

PS: Tim Cook, still waiting for you to step up and buy a few shares.

(Long aapl, calls)

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