RadioShack Corporation (NYSE: RSH) is seeing shares higher today on news that it will be selling the iPad2 from Apple Inc. (NASDAQ: AAPL) at about 500 stores throughout the country. The initial move has shares up more than 4%, but we are curious to know whether the stock should really be running on the news.
RadioShack has already been a seller of the iPhone. News that Wal-Mart Stores Inc. (NYSE: WMT) was dropping the RadioShack kiosks inside the Sam’s Club stores already took its bite out of the stock. The iPhone did not keep RadioShack’s woes from hitting the shares. The question is whether or not the iPad or iPad2 will.
Best Buy Co., Inc. (NYSE: BBY) has not been holding up with the stock market despite it being a seller Apple products with its own dedicated Apple-only salespeople on the floor. Its guidance has not yielded any excitement, and its $29.40 share price compares to a 52-week range of $28.65 to $48.83.
RadioShack’s stock is about as equally unexciting. At $14.85 after a 3.85% gain on today’s news, it has a 52-week trading range of $13.61 to $24.00.
AT&T Inc. (NYSE: T) has seen its shares Verizon Communications Inc. (NYSE: VZ) just saw its shares hit a 52-week high today. AT&T has not actually performed as well as Verizon in the last two-years, 12-month, 6-month and 3-month periods. Verizon only recently got the iPhone.
Apple products have been extremely hot in the Apple stores. Making the tie that iPad and iPhone sales will drive shares in an assured direction is just not as clear.
JON C. OGG
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