That increase accounted for one-fifth of all sales growth by publicly traded retailers in the U.S., according to a recent analysis of sales trends by retail sales expert David Berman. In part, that’s a reflection of poor sales among most retailers. But it also highlights how Steve Jobs’ technology giant is grabbing a big slice of market share in everything from smartphones to PCs.
Apple’s sales are “mind-boggling,” says Berman, whose quarterly DeeBee Index is closely watched by the retail industry. Berman’s New York hedge fund, Durban Capital, owns shares of Apple. “People don’t realize how much money has been diverted to Apple.”
Disclosure: I am long APPL.
- Apple now the nation’s fastest-growing retailer, taking “a massive bite” out of US retail sales (9to5mac.com)
- Microsoft Ready To Take On Apple Stores With 75 More Retail Stores (techcrunch.com)