Wal-Mart Offering $20 Discount on iTunes Gift Card

Wal-Mart (NYSE:WMT) is making it cheaper for customers to shop at Apple‘s (NASDAQ:AAPL) iTunes store.

The world’s largest retailer is offering iTunes electronic gift cards at a $20 discount from their $100 face value, according to PC Magazine. That means consumers can spend $100 at the iTunes store if they hand over just $80 to Wal-Mart.

Apple Shares Shoot to New Highs

The iTunes gift card is sent via email to whomever the buyer specifies. The email contains an iTunes store code. A PIN number is emailed separately, allowing the user to access the gift card at the iTunes store.

Purchasers of the iTunes gift card at Wal-Mart reported that the PIN number email could arrive as fast as 15 minutes after the gift card email, though others were still waiting 22 hours later.

Wal-Mart did not disclose how long the discount on the iTunes gift card would remain available.

Shares of Wal-Mart rose fractionally in early Monday trading, while shares of Apple gained more than 2%, hitting another record high. The computer and electronics manufacturer is gearing up for the release of its next-generation iPhone, which is expected to be unveiled next month.