Apple (NASDAQ: AAPL), in most years, has one sale a year where customers get something extra for buying some of the company’s products including iPhone, Macs, Apple Watch, AirPods, and more.
Instead of lowering prices on those items, Apple offers a $50 gift card with select purchases.
The sale runs from Black Friday through the end of the day on Cyber Monday. Apple explained how it works in the fine print on its website:
“Qualifying purchases shall receive a discount equal to the value of the eligible Special Offer Apple Gift Card off the price of the eligible product, but will be charged for all items in their cart, including the Special Offer Apple Gift Card,” according to the company.
“Customers selecting Apple Card Monthly Installments (“ACMI”) as payment option at checkout or carrier financing shall receive a discount equal to the value of the eligible Special Offer Apple Gift Card off the price of the Special Offer Apple Gift Card and, for ACMI, will result in one ACMI installment at 0% APR for the full price eligible product.”
Basically, that’s a very complicated way to say that, in the case of say a $50 gift card, Apple takes $50 off the price of the item and actually charges you for the gift card.
The consumer then gets a gift card which can be used on a later purchase.
How big are the gift cards?
Apple is offering gift cards from $50 to $100 on qualifying purchases and the amounts don’t exactly correspond to the price of the items with iPhone buyers not getting as much as those who opt to purchase AirPods.
Here’s what Apple will be giving in gift cards for eligible models of each item:
- iPhone: $50 gift card
- AirPods: $25 to $75 gift card depending upon the model
- Apple Watch: $50 gift card
- iPad: $100 gift card
- Mac: $100 to $200 depending upon the model
- Apple TV: $50 gift card
- Beats: $25 to $50 gift card
- Accessories:$25 to $50 gift card
As a consumer, it’s worth remembering that Apple may not always offer the best deals on its own products. Best Buy (NYSE: BBY), as one example, may offer better deals or more incentives to customers buying Apple products.
The various major phone carriers also have Black Friday deals on iPhones which may end up being cheaper than buying directly from Apple.