updated 02:00 am EST, Tue February 11, 2014
Mac sales average $1,300 even as PC sales slip; share still growing
Analyst Charlie Wolf of Needham & Company has sent a memo to investors noting that while the rest of the PC industry continues to experience an unprecedented dip in sales and profit, the Mac -- Apple's often-neglected-by-analysts entry in the traditional PC market -- has held steady on both its average selling price and in terms of continuing, albeit modest, growth. The average price of a Mac is around $1,300 and has remained constant for many quarters, a fact Wolf had previously thought would decline as tablets such as the iPad picked up in popularity.
He also noted that Macs continue to grow in market share against Windows-based systems, though at very modest levels. Apart from the holiday quarter of 2012, where Mac growth was surprisingly lower than PC growth overall, Mac sales have beaten the overall industry in 30 of the last 31 quarters, and saw better-than-expected growth of 4.8 million units sold this past holiday quarter.
Wolf has assigned a new price target for AAPL of $590 per share, which is down slightly from his previous prediction of $595. However, that assessment was made back in August, as Wolf only re-evaluates companies twice per year, reports AppleInsider.