{"id":21746,"date":"2011-06-16T14:31:17","date_gmt":"2011-06-16T18:31:17","guid":{"rendered":"http:\/\/www.investmentu.com\/?p=20665"},"modified":"2011-06-16T14:31:17","modified_gmt":"2011-06-16T18:31:17","slug":"j-c-penney-takes-a-bite-out-of-apple","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/16\/j-c-penney-takes-a-bite-out-of-apple\/","title":{"rendered":"J.C. Penney Takes a Bite Out of Apple"},"content":{"rendered":"

J.C. Penney Takes a Bite Out of Apple<\/a><\/p>\n

by Justin Dove, Investment U<\/em> Research
\nThursday, June 16, 2011<\/p>\n

It’s amazing how one man can change the price of a stock so rapidly these days.<\/p>\n

J.C. Penney<\/strong> (NYSE: JCP<\/a>) saw its stock spike up 17.5 percent Tuesday on news that Ron Johnson will be leaving Apple<\/strong> (Nasdaq: AAPL<\/a>) to become the retail giant’s next CEO.<\/p>\n

Johnson is best known as the brains behind the Apple Store, which has become a resounding success in retail. Now he aims to tackle what could be his biggest challenge yet.<\/p>\n

J.C. Penney was hit hard in the 2008 recession. The retail giant saw a 52-week high of $51.42 fall to as low as $13.95 per share. It has since rebounded and remained fairly consistent at approximately $30 per share.<\/p>\n

The shares leveled off a bit on Wednesday to $34 after closing at $35.37 on Tuesday. It’s too early to tell if the addition of Johnson is truly worth the spike in J.C. Penney’s value, but here are some points to think about:<\/p>\n