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  • Apple Q2 Earnings Preview: Scrutinizing Negative Media Coverage, And Watching R&D Expenses [View article]
    It is true that Apple's R&D expenses are less as a percentage of revenue than many of its Silicon Valley peers. But what we believe is more important is what Apple has been able to produce with that budget. Unlike many companies, Apple's R&D budget is, for the most part, focused on creating marketable products and as a result its R&D department is much more efficient than that of many other top-tier technology companies. As for market share, Apple may not be growing unit share, but its profit share is foretasted either to hold steady or increase, and we believe that this is the metric that truly matters in the long-term.
    Apr 8 12:12 PM | 2 Likes Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    At $700, Apple traded at around 15-16x earnings, hardly hysterical levels. Microsoft trades at 15x, Cisco trades at under 14, and IBM trades at around 14 as well. Google trades at over 23x, so even at $700, Apple was not that expensive relative to other Tier 1 tech companies.
    Jan 25 06:08 PM | 5 Likes Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    In Q1, there were some temporary issues relating to new product ramps, particularly with regards to Mac sales. But as iPad mini's become a larger part of Apple's overall sales mix, and should a lower-priced iPhone become a reality, margins could very well continued to be pressured; offsetting this is the fact that the market for such goods is larger than Apple's existing market
    Jan 25 01:22 PM | 2 Likes Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    Apple has a pattern of releasing truly new products every 3 years, and 2013 is the year that this pattern implies a new category. With around 11 months to go, there is still ample time for Apple to release a new category
    Jan 25 12:34 PM | Likes Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    Investing, at least when based on fundamental, non-technical analysis, always involves a degree of belief. The challenge is to base that belief on an impartial assessment of a company's financials and its product roadmap. Our view is that Apple's financial condition is solid, as based on its balance sheet and earnings, and that its existing product portfolio is performing better than the company's critics believe. There have been many articles that suggest Apple is now the next Microsoft, the next RIM, among other things, and it is that kind of hyperbole that we wish to avoid. There is a difference between forecasting based on how one feels about a company and what an analysis of its financials and its existing/future products & services reveals.
    Jan 25 12:09 PM | 1 Like Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    The iPod mini meant more to Apple in 2004 than the iPad mini did in 2012; it helped place Apple into millions more households than the regular iPod. The iPad mini, while certainly a new product, was not on the same relative level in 2012 as the iPod mini was in 2004
    Jan 24 10:45 PM | 1 Like Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    On the call, CFO Peter Oppenheimer stated that Apple's operating expenses will be between $3.8-$3.9 billion for Q2 2013
    Jan 24 09:31 PM | 3 Likes Like |Link to Comment
  • In Defense Of Apple: Battling The Mounting Hysteria [View article]
    AAPL closed today with a market capitalization of around $423 billion, and is still holds the world's largest market cap. Will it be $4 trillion in 10 years? Probably not, that would imply an almost 10-fold increase over a decade. But Apple will likely be worth much more than $450 per share in 10 years.
    Jan 24 07:10 PM | 7 Likes Like |Link to Comment
  • Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
    The January 17 date was based on forecasts from Reuters, which used historical data to forecast when SWKS would next release its earnings. SWKS chose to report Q4 earnings later than it has in prior years.
    Jan 23 11:09 AM | Likes Like |Link to Comment
  • Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
    Apple has released a list of suppliers in response to pressure from labor activists (http://bit.ly/zRjHQq). However, the list does not break down exactly what each supplier does for Apple, only that Apple does business with them.
    Jan 3 06:29 PM | Likes Like |Link to Comment
  • Thoughts On Apple's Ousting Of Forstall And Browett: Asserting Cook's Authority, Solidifying Jobs' Vision [View article]
    Thanks for reading. We were puzzled by that phrase appearing constantly in the article as well. It seems that in the submission process, SA's servers somehow replaced words such as "said," "stated," or "noted" with that phrase. It was not how we submitted the article, for the attached source links to our quotes, such as those from Laurene Jobs or Steve Jobs were removed as well, for they were linked to in the words "said," "stated," or "noted."
    Oct 31 10:55 AM | 1 Like Like |Link to Comment
  • Thoughts On Apple's Ousting Of Forstall And Browett: Asserting Cook's Authority, Solidifying Jobs' Vision [View article]
    As we stated in an above comment, something seems to have gone wrong in the submission process. The phrase "much more obvious" was inserted throughout the article, and the source links to various quotes and pieces of information were removed. We will contact the editorial team to get these issues fixed.
    Oct 31 10:22 AM | Likes Like |Link to Comment
  • Thoughts On Apple's Ousting Of Forstall And Browett: Asserting Cook's Authority, Solidifying Jobs' Vision [View article]
    There seems to be some sort of error in the submission process. For example, the phrase "Laurene Jobs herself stated that...." was turned into "Laurene Jobs herself were much more obvious..." The same issue appears later in the phrase "As Business Insider were much more obvious..." it was originally supposed to say "As Business Insider stated..."

    Somehow, the servers seemed to insert the phrase "were much more obvious" into the article in place of the original text. The source links to those quotes were also removed. We are going to contact the editorial team to see what happened and begin fixing those typos, for that is not how the piece was originally submitted.
    Oct 31 10:20 AM | 1 Like Like |Link to Comment
  • Apple: The iPhone 5 May Mark The End Of The Steve Jobs Era [View article]
    It is important to remember that Apple paid dividends before (http://bit.ly/n1RLfg), they were suspended in 1995 to preserve cash. As for the options grants, Apple's options granting is still not that much (relative to a company of its size), and Apple needs to ensure that top executives stay with the company. We will simply have to wait and see what kind of products Apple is able to develop without Jobs.
    Sep 22 02:00 PM | 1 Like Like |Link to Comment
  • Apple: The iPhone 5 May Mark The End Of The Steve Jobs Era [View article]
    Apple's retail stores do indeed serve Apple more as outreach "services" more than actual sales centers these days. Educating the public about the brand is no longer as important as it was in 2001. That being said, the stores do serve a purpose. There is a reason that people line up at Apple stores to buy iPhones, even if those same iPhones can be bought at carrier stores, or Best Buy (or any other number of retailers) without lines. It is about the experience, and Apple needs to be careful when it comes to altering the operating model of its retail stores.
    Sep 21 06:02 PM | Likes Like |Link to Comment
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