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Matthew Lewis

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  • IBM According To Warren Buffett's Annual Letters To Shareholders [View article]
    One of the best articles I've read on SA. Thorough research and well crafted. Congrats.
    Jul 16 09:48 PM | 17 Likes Like |Link to Comment
  • Apple sells 9M new iPhones in 3 days [View news story]
    These analysts are so bad. I realize their job is tough, but it seems like the groupthink and "throw crap at the wall and see what sticks" is just at another level.
    Sep 23 08:49 AM | 12 Likes Like |Link to Comment
  • Exelon: Potential Dividend Cut May Be Deeper Than You Expect [View article]
    At $25 per share a share you would be near the point of what Buffett tried to buy Constellation Energy at on a dollar per Megawatt basis back in 2008. If it goes that low I would recommend forgetting the dividend yield and focusing on the value of the assets. You're getting an incredible deal right now because the fixed income folks are bailing.
    Nov 30 12:58 PM | 12 Likes Like |Link to Comment
  • Apple: A Record Quarter That Slightly Disappointed [View article]
    September. Mass production has already started.
    Jul 23 12:56 AM | 8 Likes Like |Link to Comment
  • Amazon planning to deliver products using drones [View news story]
    How many more times can we mention "wind" in this thread? It's years away people...plenty of time to come up with a drone that can withstand the "wind" and makes economic sense.

    I honestly don't think its that far fetched. And you know a company like Amazon will be crazy enough to try it even if it loses money. Have some imagination.
    Dec 1 11:47 PM | 8 Likes Like |Link to Comment
  • More on Apple: Quarterly dividend increased by 15% to $3.05/share (3% yield); Apple "plans to borrow" to return cash. FQ2 iPhone and iPad sales beat expectations, Macs a little light. Gross margin was 37.5%, at low end of guidance range of 37.5%-38.5% and -990 bps Y/Y. Apple expects to return $100B in cash via capital return program by end of 2015, up from prior $45B. Exc. retail, Americas revenue +7% Y/Y, Europe +11%, Greater China +8%, Japan +19%, rest of Asia-Pac +26%. Retail +19%. iPhone revenue only +3% Y/Y, iPad +40%, Mac +7%, iPod -20% on 5.6M units. AAPL halted, to resume trading at 4:50PM. (PR[View news story]
    They'll borrow at what, 50 bp over the treasury rate?

    They could do 10 years at 2.25% or 20 years at 3%. Borrow at those rates at buy back stock with a dividend yielding over 3%. Do that all day.
    Apr 23 05:16 PM | 8 Likes Like |Link to Comment
  • No, Apple Hasn't Screwed Up [View article]
    To be fair, Ashraf has given high praise to the A7 in numerous articles.
    Jan 21 09:08 AM | 6 Likes Like |Link to Comment
  • Buffett Erred In Buying IBM, Should Have Bought Xerox Or HP [View article]
    Buffett looks far deeper into his investments than you give him credit for. As others have said he looks at management, balance sheet, and most importantly durable competitive advantages.

    Buffett disclosed his IBM buy on 11/14/2011. Since that date

    HPQ -30%
    XRX -12%
    IBM +6%

    HPQ and XRX have some catching up to do before Buffett will be "wrong".
    Jul 19 12:55 PM | 6 Likes Like |Link to Comment
  • MetLife (MET +5.2%) bumps its quarterly dividend to $0.275/share from $0.185 previously, a 48.6% increase. It's the first dividend hike since prior to the financial crisis, and brings the annualized yield to 2.9%. (PR[View news story]
    No company has been more screwed than MET throughout this whole crisis. They refused to take taxpayer dollars, never cut their dividend, stayed profitable, and the government still won't let them allocate capital how they would like. Hopefully this is a sign things are changing.
    Apr 23 11:03 AM | 5 Likes Like |Link to Comment
  • Seadrill: Why This Stock Is Undervalued And Should Be Owned By Every Investor [View article]
    Good find duck.

    A one-time gain of 1.2 billion dollars is included in the analysis.

    Can the author comment on this inclusion of a one-time gain?
    Feb 17 06:48 PM | 4 Likes Like |Link to Comment
  • How Obama's 'MyRA' Plan Will Impact The U.S. Economy [View article]
    I enjoyed your article. A comment...
    More demand for treasuries lowers cost of borrowing for the government...however lower rates also bring lower demand from other institutions, investors, and foreign countries. The obvious effect here is the cost of borrowing may not move down like you stated. It also effectively shifts treasury holdings from investors that can be taxed to investors that cannot. This leads to less money for the US government in the form of taxes.

    Are you sure the pros outweigh the cons here? There are lots of moving parts of this that weren't mentioned.
    Jan 30 07:12 PM | 4 Likes Like |Link to Comment
  • Samsung Is Apple's Worst Nightmare [View article]
    Thanks for the article.

    You didn't convince me that Apple should vertically integrate. I would have loved to see more analysis of the pros (expanded margin, better supply control) and cons (less choice, cost of investment) of doing a large scale vertical integration like the one you have suggested.

    Keep up the good writing. Love your articles.
    Nov 7 01:10 PM | 4 Likes Like |Link to Comment
  • Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR[View news story]
    Intrinsic value isn't necessarily book value Ross.
    Apr 23 05:10 PM | 4 Likes Like |Link to Comment
  • The Dichotomy Of Paper Vs. Physical Gold And Silver Markets [View article]
    If demand for the physical was so high, why can I still buy physical silver and gold from APMEX for right around what the paper market is showing the price at? Wouldn't it be trading much higher than the paper market?
    Dec 23 09:10 PM | 4 Likes Like |Link to Comment
  • City Telecom: 17% Dividend Yield, 46% Cash Flow Yield, No Debt, High Growth Prospects [View article]
    Pretty sub-par research. Did the author even both to read a quarterly or annual report?
    Jul 27 06:10 PM | 4 Likes Like |Link to Comment