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David Zanoni

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  • Update: China Cord Blood Beats Earnings Estimates For Q1 [View article]
    I think that the lowered EPS guidance is already priced in.
    Oct 14, 2014. 07:23 PM | Likes Like |Link to Comment
  • Apple Is Worth Much More On A Discounted Cash Flow Basis [View article]
    John Heil,

    Great points - you have a good understanding of Apple as an investment.
    Oct 13, 2014. 09:46 PM | 1 Like Like |Link to Comment
  • Apple Is Worth Much More On A Discounted Cash Flow Basis [View article]
    Stewartij and Esekla,

    Thank you for following up on the details. I don't like to use a WACC in my DCF - instead I typically use 9% as the discount rate as the minimum annual long-term return that we as investors want to beat.

    FCF = free cash flow = operating cash flow minus CapEx

    I'm using a long-term growth rate of 3% for years 11 and beyond.

    Of course DCF analysis is somewhat subjective based on whoever is doing the calculations, but I don't think that I used any figures that are too far fetched. Ultimately, the direction of the stock will be contingent upon sales and the quarterly earnings reports going forward.
    Oct 13, 2014. 09:16 PM | 5 Likes Like |Link to Comment
  • Apple Is Worth Much More On A Discounted Cash Flow Basis [View article]
    Gary J,

    I also talked about the strength of the initial orders for the iPhone 6 & 6 Plus - that is important and it was addressed in the article.
    Oct 13, 2014. 08:49 PM | 2 Likes Like |Link to Comment
  • Apple Is Worth Much More On A Discounted Cash Flow Basis [View article]

    Saying that the competition is smarter is not necessarily accurate. Who is smarter? Samsung? Are they smarter because they introduced a large phone and a smart watch before Apple? Samsung is experiencing declining earnings for this year and most likely next year, while Apple is expected to post earnings increases. These are businesses and Apple is more successful at achieving positive earnings results than any of its hardware competitors.
    Oct 13, 2014. 08:44 PM | 2 Likes Like |Link to Comment
  • Apple Is Worth Much More On A Discounted Cash Flow Basis [View article]

    What I mean that the stock still has some catching up to do is exactly because it is currently not trading much higher than where it was back in 2012 adjusted for the stock split. I think that the stock overshot to the downside and that it should be trading much higher. Strong gains should come when the actual sales figures are reported for the current quarter.
    Oct 13, 2014. 08:35 PM | 5 Likes Like |Link to Comment
  • Ryder System To Increase On Favorable Pricing And Contract Growth [View article]
    Tail Winds,

    R will probably pass the costs onto consumers.
    Oct 9, 2014. 08:19 PM | Likes Like |Link to Comment
  • CSX: The Big Engine That Does [View article]

    Thank you for adding to the article. Great points.
    Oct 9, 2014. 07:21 PM | Likes Like |Link to Comment
  • Herbalife: The Coming Reversal [View article]
    For 34 years, no wrongdoing has been found by regulators. Even after 2 years of extra scrutiny, we hear nothing from regulators. HLF represents a trade of a lifetime w/ its low valuation.
    Oct 3, 2014. 04:45 PM | 3 Likes Like |Link to Comment
  • Facebook's Move Into Healthcare Will Boost User Engagement [View article]

    For the same reason that people go to support group meetings - to help each other out and share ideas on how to cope with their ailments. Actually, it might be a separate app independent of the FB website - and since users can use aliases, the privacy matter is a non-issue.
    Oct 3, 2014. 02:57 PM | 3 Likes Like |Link to Comment
  • The Improving Housing Market, Valuation And Growth Are Positive For Meritage Homes [View article]
    Most of the homebuilding industry companies are experiencing price weakness. They are trading off of their 2014 highs. The industry is currently experiencing a correction, most likely due to having high inventories.

    MTH does have some risk in the Phoenix area, but the Legendary acquisition gives the company more exposure to growth areas.
    Sep 26, 2014. 03:19 PM | Likes Like |Link to Comment
  • Xerox: Still Working On Growing Revenue [View article]
    Thank you everyone for your comments. I appreciate your individual insights.
    Sep 24, 2014. 07:21 PM | Likes Like |Link to Comment
  • SA Contributor Community: End Of Summer Update [View article]

    I like what SA is doing. I think it would be great if you could get Warren Buffett as a contributor.
    Sep 22, 2014. 07:54 PM | 1 Like Like |Link to Comment
  • The Ongoing War On Terror And Global Conflicts Are Bullish For Raytheon [View article]
    Mr. Norton,

    Here is an article on NOC:
    Sep 22, 2014. 07:42 PM | Likes Like |Link to Comment
  • What Facebook, Herbalife And The Plague Have In Common [View article]
    I would also argue that population growth and the high prevalence of obesity will keep Herbalife from collapsing. HLF has survived for 34 years and I don't see any reason why it wouldn't continue, even in the face of Ackman and the bears.
    Sep 21, 2014. 08:48 AM | 6 Likes Like |Link to Comment