New Electronics Forecast Bad For Apple (AAPL) And Best Buy (BBY)
March 18, 2008 by Douglas A. McIntyreNew 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
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.