Leo Leydon of Financial Focus Advisory Services declared the four horsemen of consumer electronics during the holiday shopping season, according to MarketWatch on Friday. Now the race has narrowed to two, and only Apple and GameStop ride on.
Mr. Leydon christened the original four last year: Apple, RIM, GameStop and Garmin. Noting that the federal economic stimulus checks are about to go out, the analyst expects to see a spending spree, but doesnit believe those checks will help all the "horsemen" equally.
He placed Research in Motion (RIM) on hold and recommended to sell Garmin short. However, he maintained his Buy rating for Apple (AAPL) and GameStop (GME).
Apple stock is currently trading at US$179.44, down $0.56.
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In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.
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