Target stock was trading at $170.25 as of 12:00 p.m. EDT.
Target Corporation (NYSE:TGT) and Apple (NASDAQ:AAPL) announced a bigger partnership, which includes putting three times as many Apple products in Target stores. Before the holidays, the company is giving members of its loyalty program a free four-month trial of Apple Fitness+ without having to buy anything.
Through Target Circle, Target (NYSE:TGT) will also have special holiday discounts on a few Apple services, including Apple Music, Apple Arcade, Apple News+, and iCloud+, some of which include up to five months free. The 150 Apple at Target locations that are currently open has twice as much area devoted to Apple items as Target Tech Consultants who have received Apple training.
Target’s (NYSE:TGT) earnings report is due out on November 17, which makes it one of the most-anticipated reports of the earnings season. There are many unanswered questions in the retail sector about how sales will go during the holiday season.
Due to large inventory levels that need to be cleared out and newer products that need to be moved, the consumer’s response to high inflation will be difficult to predict. Target could make good money but at lower margins because its customers have more money to spend than customers of Walmart and other low-priced competitors. The economy is already in a moderate recession, so it remains to be seen whether consumers will reward Target with one last shopping binge before the year is through.
Target stock forecast
TGT appears to have bottomed out after dropping from a 52-week high of $268.98 to a low of $137.16 at the end of June, which is possibly encouraging. The performance of TGT in the final quarter of 2022 will depend on a number of variables.
Target’s bounce—or lack thereof—in consumer spending will depend on how people feel about their finances and if they want to take on debt with increased interest rates at any appreciable level.
Is Target Stock A Buy Despite A 30% Drop In 2022?
Featured Image – Megapixl © Sepavo
Author Jowi Kwasu 
