Thanksgiving Week Sales Trends – Consumer Electronics

NEW YORK, November 29 (FinanceEnquiry.com) – Analyst Jonathan Goldberg of Deutsche Bank Securities gives an overall view of Consumer electronics with special focus on various segments.

In a research note published yesterday, analyst Jonathan Goldberg mentions that Black Friday retailers were found busy throughout the weekend, and they experienced a healthy crowd from the opening until the late weekend. The analyst found that GPS watches are getting competitive, though it is seen that outdoor and fitness categories which create over 50% of the operating income will soon be replaced by the smartphones. However, this trend might take long but as per the checks, 48% of Best Buy stocks some smartphone alternative and Garmin’s watches remain the most expensive in this category. The analyst indicates that Black Friday has not been a good indicator for smartphone trends. The results were skewed by Amazon pushing the prices down for all Android phones to one penny, but Best Buy’s website had Apple occupying 4 out of top 10 slots with its iPhone 4S and not by its lower-priced 3GS, the analyst adds.

TV section was busier than expected with continued modest TV demand this year. The estimates are being revised by lowering UEIC price target from $22 to $16 based on DCF analysis using 13% discount rate and 3% growth rate, the analyst says. The result reflects the growing pressure on the OEM side of UEIC’s business. The upside risk to the new target price includes pick-up in consumer spending, new design wins and new customers, while the downward risk involves integration of cost and weakening consumer spending, the analyst adds.

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