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Michael J. Golde

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  • The Explanation Behind Apple's Gross Margin Decline, And Why The Future Looks Brighter [View article]
    Thoughtful and well-researched article.
    Nov 15 03:59 PM | 9 Likes Like |Link to Comment
  • The Rational Reasons To Be Bearish On Apple [View article]
    The author hasn't fully considered the impact of Apple's sticky ecosystem on future sales. He also doesn't take into consideration lower margins of iPad Minis, even though it is more likely than not that the iPad will become more ubiquitous, in the education, healthcare, retail and government markets, respectively, as well as others. It seems likely that Apple will get its share fair of that business as more sophisticated users of tablets seem to prefer the higher quality Apple tablets. So, gross margins will go down, yet sales growth will more than compensate as tablets are projected to be the dominant platform for productivity applications in the foreseeable future.
    Oct 4 03:29 AM | 13 Likes Like |Link to Comment
  • Apple: Would You Be Okay With A Kitchen Sink Quarter? [View article]
    Apple has dropped almost 280 points. You don't think any of that is factored into the current stock price?

    Also, Tim Cook announced after the annual meeting in February that Apple was still investigating what to do with the cash on hand. I am surprise that he has said nothing since his announcement. I would be further surprised if Apple didn't do something with the dividend for the current quarter. If not, then the BOD is completely incompetent. You don't ratchet up shareholder expectations and do nothing for two months thereafter.
    Apr 15 02:57 AM | 1 Like Like |Link to Comment
  • The Truth About Amazon's Margins [View article]
    You forgot to mention that AMZN is currently trading at over 100 times forward earnings whereas WMT's currently PE is 15.65. Even if AMZN is able to sporadically achieve comparably margins to Walmart, that does not justify such a disparity in price multiples.

    Walmart has been growing it foreign and domestic businesses consistently for years and now also has a large online presence. There is no reason to assume that other retailer will not eat into AMZN's target market especially when it will have to starting paying sales taxes in more states. While I wouldn't short AMZN, I do believe it will be trading at significantly lower levels in a couple of years. In the short term, however, the market does not have to be rational or logical.
    Sep 26 04:21 PM | Likes Like |Link to Comment
  • Apple Pullback: Stock Price, Financial Statements Get Together, Finally [View article]
    There is no explanation provided for why you think $362 is the reasonable valuation of the stock as opposed to a much higher price. Apple is growing sales and earnings at over 70%. Backing out cash on hand, it is trading around a 10 PE based on forward earnings. So, again, how do you only get to 362?

    The comments about Apple guidance don't make any sense as the principal reason why the stock has risen mightily. The company has consistently had blow-out earnings -- that is the reason. And you question the quality of earnings? Based on what?
    May 27 05:11 PM | 6 Likes Like |Link to Comment
  • Did Google and Amazon Hand Apple the Keys to the Cloud Music Kingdom? [View article]
    Excellent explanation and analysis of the cloud music situation. I also agree with your conclusion that since Apple appears to have the lead in terms of label support, it is able to provide a more user-friendly and viable service.
    May 19 05:53 AM | Likes Like |Link to Comment
  • Catfight: Apple vs. Samsung [View article]
    Your statement that "stuff Apple now patents are sometimes ridiculously obvious ..." doesn't make sense. If they were so obvious, why aren't their patents being challenged by other before being issued. After the fact, it is easy to say a patent is obvious while at the time of issuance it was not.
    Apr 20 01:15 PM | 3 Likes Like |Link to Comment
  • Apple Should Announce Dividend [View article]
    Desola -- I am glad to receive your comment despite the tardiness of this reply. You're right. A number of the comments were downright nasty and myopic. In my opinion, I don't think Apple's cash balance is fully reflected in the company's current value.

    While I also understand that Apple doesn't want its business to be driven by the predilections of Wall Street, I don't think it is verboten for Apple management to consider that those who invest in Apple's stock are doing it for economic reasons and that stock buybacks and dividends should always be considered when cash level vastly exceed and conceivable working capital or investment needs.
    Apr 14 03:00 AM | Likes Like |Link to Comment
  • Apple Should Announce Dividend [View article]
    Excellent point, though that only amounts to less than $5 billion as I recall.
    Jan 21 10:04 PM | Likes Like |Link to Comment
  • Apple Should Announce Dividend [View article]
    Who are you? You have posted only two comments, both of which started with an immature insult. The one directed at me is above; you also criticized the author of an article on RIMM as not having a clue.

    You have posted no bio. You have published no article on this site. You are obviously one of the many who make ad hominem attacks and hide yourself with anonymity.

    Moreover, you obviously have no idea how this site and Google work.
    Jan 21 10:00 PM | Likes Like |Link to Comment
  • Absurdly Overvalued: If Facebook's Worth $50B Then Apple's Worth $1.4T [View article]
    This article is not very insightful and does not recognize that different companies have different PE rations for a variety of reason. The most important of which is usually the rate of growth of a company. If a company's earnings are accelerating at a faster pace than other companies, it will tend to have a higher PE. Why? Because the expectation of higher future earnings will be implicit in the PE.

    It is useless to try to compare Facebook's valuations to AMEX and the others because the rates of actual and anticipated growth are light years apart. That is not to say that Facebook's valuation today of $50 billion is correct or not; however, if Facebook doubles its earnings over the next couple of years or more, then it will grow into its PE multiple. And if it doesn't and "only" grows at 80% or 50%, then the PE multiple and valuation will contract accordingly.
    Jan 9 03:54 PM | 3 Likes Like |Link to Comment
  • Homeowners’ Rebellion: Could 62 Million Homes Be Foreclosure-Proof? [View article]
    The premise that people will be able to keep their homes even if MERS is the title holder and not the noteholder is misleading. If a separate bank is the noteholder, then even if there isn't a mortgage underlying the note, the bank will still have an unsecured claim for the amount of the note. The bank can sue to recover the note balance and if it is not paid after a judgment is entered, the bank can seek to enforce the judgment by recording a judgment against the title to the property. The judgment, independently, would be subject to foreclosure. So, this idea that people will just be able to walk without paying anything while keeping their homes is perhaps true in the immediate short-term but not in the longer term.

    Moreover, if the mortgagor files a bankruptcy to extinguish the debt arising from the note, all non-exempt property, including the real estate if it is determine to be mortgage-free, would become subject to liquidation by a trustee in bankruptcy. The proceeds would then be used to satisfy the judgment lien.
    Aug 20 11:31 AM | 15 Likes Like |Link to Comment
  • Barron's on Apple and Microsoft [View article]
    What is the point of this non-column? Waste of time.
    Jul 25 07:25 AM | 6 Likes Like |Link to Comment
  • Apple, Wal-Mart and the 'Market Cap Bigger Than' Thing [View article]
    What is the point of this article? Did anyone learn anything of value from it? To me, it sounds like ramblings about AAPL's valuation without adding anything of value to the topic. This author is typically an astute commentator, but he blew it this time.
    Mar 15 04:04 PM | 3 Likes Like |Link to Comment
  • Bank Lending Plummets as Wall Street Strangles Economy [View article]
    What are your recommendations for wealth preservation? Purchase gold and other metals? Shorting the S&P 500? Buying foreign currencies like the Australian dollar? Some other strategy?
    Feb 26 02:35 PM | 1 Like Like |Link to Comment