Partnership with Best Buy could give investors another bite of the Apple

Partnership with Best Buy could give investors another bite of the Apple

Apple has just signed a major new partnership deal with Best Buy to provide repair services across its network of around 1,000 US shops.

Apple

The deal will improve repair services for owners of Apple technology, meaning that 80 percent of customers will now be able to reach an Apple certified provider within 20 minutes. What’s more, some 7,600 Best Buy ‘Geek Squad’ members can now make same-day repairs to Apple devices, using only genuine Apple parts, making life much easier for Apple technology enthusiasts. It is anticipated that the share price of Apple may well improve as a result of this exciting new development, so now could be a good time to buy Apple shares.

With around 15-20% of Best Buy sales coming from Apple products, the retailer is anticipating an increase in footfall as well as sales of Apple devices and accessories as a result of the partnership. It also means Apple can improve the store experience for its customers, reducing overcrowding.

Shares in Apple had taken a tumble recently, as the news broke of its chief designer, Jony Ive’s plans to leave the company and the value of Apple shares fell by 16.3% with their 52-week high of 230.27 coming down to 197.92 (June 28th, 2019). This is the first drop Apple has seen for two years however, with the news of the Best Buy partnership could indicate Apple’s share price is set to bounce back up imminently.

The continued success of Apple has been put down largely to its long and mutually profitable partnerships with other big tech businesses, including…

AT&T

AT&T was the US’S sole iPhone carrier from 2007 until 2011. The iPhone was a fantastic success for AT&T, with a staggering 3.6m iPhones being activated in the first quarter of 2011 alone. Around a quarter of these were new AT&T customers.

Verizon

Verizon, the US’s biggest telecommunications provider, teamed up with Apple in 2011 to offer the iPhone 4, selling around a million of them in just the first weekend, and 4.6 million sold within the first 6 months.

Foxxon Technology Group

Chinese technology behemoth Foxxon Technology Group is the biggest manufacturer of electronics in the world. It teamed up with Apple to make a number of its devices and computers including the iPhone, iPad, iPod and Mac computer.

Intel

Household name Intel provided the processor chips inside Apple Mac computers back in 2006, and is rumoured to be teaming up with Apple again, this time to provide chips for iPhones and iPads.

Toshiba

Japanese tech giant Toshiba has provided the LCD panels and flash drives for previous generations of iPhones, and has recently announced plans to build a factory to manufacture LCD panels which will be supplied to Apple.

Samsung

South Korean company Samsung has supplied flash drives and memory chips to Apple, but has had a rocky relationship in the past, amid accusations of copying software and layouts. Apple retaliated, accusing Samsung of infringement of copyright.

With so many great and long-lasting partnerships, Apple’s success is sure to have had a positive impact on its partner companies too. The new Best Buy partnership deal could well see the value of Apple’s shares climb back up, reaping rewards for savvy investors who purchase at the right time.

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