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Bill Maurer

 
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  • Apple: Examining The Dividend Disappointment [View article]
    Comparing MSFT was in regards to the above statement about peers and cash cows with no growth.
    May 5, 2014. 10:51 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    My expectation for 15% was actually one of the lower ones. Look at all those who were calling for 20%, 25%, perhaps more.
    May 5, 2014. 10:50 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Obviously, but that is a big if. The key point is that investors looking to enter Apple now might look at the dividend and wonder why it is so low.
    May 5, 2014. 10:06 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    This could turn out to be a one quarter issue, depending on how much is bought back in Q3. When we get to fiscal Q4, it might become a total increase if Apple doesn't buy back as many shares in this year's period.

    But yes, it is very curious to see this happen.
    May 5, 2014. 10:05 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Google also had a disappointing quarter, which did not help.
    May 5, 2014. 09:51 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Great point. I'm glad someone understood the point of the article.
    May 5, 2014. 09:41 AM | 1 Like Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Obviously debt is cheaper, and I've covered that so many times. But to think that the debt is basically free is a mistake.

    As for repatriation, it is IF, not when. And that assumes that other countries don't fire back and put a tax on taking money out of the country. They have a lot of money at stake as well...
    May 5, 2014. 09:40 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    When expectations call for 15-20% or more, and you only raise it by the level of the share count decrease, it is a disappointment.

    As for AMZN, where is Apple's 20% a year revenue growth? You can't seriously argue AAPL to AMZN.
    May 5, 2014. 09:39 AM | 1 Like Like |Link to Comment
  • JPMorgan: Another Problem For Big Banks [View article]
    It's not about shorting a name forever. It's about shorting to the lower end of the range. In this market, shorts are looking for anything they can get. On Monday morning, the losses are double what they were Friday evening.
    May 5, 2014. 09:31 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Well, rates did go up a bit since Apple took out the debt last year. Even though $5 billion less was taken out, Apple paid 60 basis points more for the 30-year debt. 105 more basis points on the 10-year. And remember, rates are well off their recent highs.

    The company won't just take out debt forever.
    May 5, 2014. 09:30 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    This isn't about looking at the total picture of Apple - which I do almost weekly in large depth. This article was purely about one item, the dividend.
    May 5, 2014. 09:27 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    I think you missed the point then. The buyback is good, but income investors were extremely disappointed.
    May 5, 2014. 09:27 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    Dividend raise was well below expectations. I didn't say the buyback was bad, I just said it explains the lack of dividend raise.

    The 200 year buyback is a key point. If you don't understand it, you shouldn't be investing in buybacks like this.
    May 5, 2014. 09:19 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    1. More than half of the debt was issued at rates higher than the dividend. More than a third will cost more than the dividend post-tax.

    2. I've covered this debt for buybacks/dividend issue plenty in previous articles.

    3. Most cash generated outside US - playing the repatriation gamble is a risky proposition. Been hearing about a potential change for years.

    4. It's not like I said the dividend won't be raised in the future. Just that investors should temper expectations. Nothing wrong with that.
    May 5, 2014. 09:16 AM | Likes Like |Link to Comment
  • Apple: Examining The Dividend Disappointment [View article]
    I guess you've missed how I've been one of Apple's biggest supporters in recent years.

    This is examining one disappointment - which is directed at a particular segment of investors - dividend/income folks.
    May 5, 2014. 09:13 AM | 1 Like Like |Link to Comment
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