Can Best Buy’s Scheme Increase Demand for iPhones?

Best Buy (NYSE:BBY)  jumps into the iPhone (NASDAQ:AAPL) market by not only price matching competitors, but also taking down in-store pre-orders for the iPhone 4S. All three carriers — Sprint (NYSE:S), AT&T (NYSE:T), and Verizon (NYSE:VZ) — will be offering service on the phone.

Despite the iPhone having a record one million-plus consumers from seven different countries order it, Collin Gillis of BGC Partners believes that the company needs to “break records to hit expectations.” Apple (NASDAQ:AAPL) seems well on its way. Analysts did not express much enthusiasm, but customers are all that matters.

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Best Buy (NYSE:BBY) will also have to contend with Target (NYSE:TGT), Walmart (NYSE:WMT), and select Apple Authorized Resellers. Get ready for the big hustle going into holidays.

Apple (NASDAQ:AAPL) shares are up 19.16% year to date. The stock has traded in a 52-week range between $290 and $422.86.

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