According to sources, Apple will open stores within Target locations around the U.S.
By doing so, Apple can cheaply expand into smaller metro areas.
If accurate, Apple will open Apple-branded stores in 25 of the larger Targets at points during this year.
Of course, the launch will be a small test, as Target has 1752 stores in the U.S. Apple has 359 of its own stores around the world, including 245 in the U.S. Apple currently has a similar setup in 600 Best Buy stores. Some of the stores even have Apple Solution Consultants and are dubbed “Apple Shops.”
Apple had previous retail relationships with Circuit City, Office Max and Sears until a decade ago, when they began opening their own retail stores. The Best Buy deal is relatively new.
Target has long sold Apple products, starting with the iPod in 2002.
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Result for: iPod
Apple has completely blown out their quarterly earnings report this afternoon, on the back of strong growth in China and record iPad sales.
Profits for the quarter were $7.31 billion, up 125 percent year-over-year, and revenue was $28.57 billion, up 82 percent YoY.
Following the report, Apple, which closed the day at $376.85 jumped to as high as $405 per share, a new all-time high.
Additionally, the company confirmed it will be releasing Mac OS X 10.7 Lion tomorrow, as reported earlier.
iPhone sales jumped 142 percent to 20.34 million units (a record) and iPad sales jumped to 9.25 million units (also a record).
Says CEO Steve Jobs:
We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.
Sales in China, and the Asia-Pacific region in general, had the most explosive growth with COO Peter Oppenheimer saying overall sales in China are up 600 percent “and just beginning.”
A few other figures of note from the report was weak Mac sales (3.95 million units, up 13.8 percent YoY), the continued decline in iPod sales (down 20 percent to 7.54 million units) and an overall gross margin of 41.7 percent, huge for any industry.
Apple is also expected to release the iPhone 5 in September.
Result for: iPod
Apple reported its latest quarterly earnings and both revenue and profit soared year-over-year (YoY).
Revenue grew 83 percent to $24.7 billion, and profit jumped 95 percent to $6 billion.
The iPhone was, by far, the biggest revenue driver, with sales jumping to 18.6 million, over 100 percent growth YoY.
iPad sales, on the other hand, sputtered, falling well below analyst expectations at 4.7 million units sold.
Worries of the Japanese tsunami disaster affecting the top or bottom line were quickly assuaged, with COO Tim Cook saying revenue would drop just $200 million and that the supply chain is still intact, with no delays.
When speaking of iPad 2 sales, Cook said the demand was “staggering” and that the company “sold every one that we could make.”
As expected, iPod sales fell for the 10th straight quarter, down to 9 million, or down 17 percent YoY.
