New Electronics Forecast Bad For Apple (AAPL) And Best Buy (BBY)

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New data from ChangeWave Research point to a huge drop in spending on consumer electronics. The most recent data was taken from a survey of 4,427 consumers between February 19th and 25th.

Only 19% of those polled said that they plan to spend more on consumer electronics over the next 90 days. That compares to 33% who said they would spend less.

Among retailers, the companies which the survey said would hit hardest are Best Buy (BBY), CostCo (COST), Circuit City (CC), Amazon (AMZN), and Apple (AAPL).

Soft spots among products included LCDs, iPods, digital cameras, and cell phones. The last category may spell some trouble for Motorola (MOT) and Nokia (NOK).

Two categories which should do well over the near-term based on the data are Nintendo Wii video game consoles and high-def DVD players. Nice news for Sony (SNE)

Douglas A. McIntyre