Early this morning,
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)