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Navid B.

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  • Rogers Communications And Telus May Be Good Shorts [View article]
    I am no expert on the subject, but I would think Canada is one of the least attractive markets for a wireless provider to enter. It is a huge country with a small population relatively speaking. The cost of providing coverage per capita must be very high. I would like to hear your thoughts on this.
    Jul 18 08:09 PM | Likes Like |Link to Comment
  • BlackBerry 10 Feature May Run Into Big Snag [View article]
    I am disappointed that Seeking Alpha even published this.
    Apr 5 12:34 PM | 28 Likes Like |Link to Comment
  • BlackBerry Is Highly Undervalued According To The FCFF Valuation Model [View article]
    $276/unit for the Z10 seems unreasonably low. What are you basing this claim on? By my estimates ASP for Z10 last quarter was north of $400/unit.
    Apr 4 02:50 PM | 1 Like Like |Link to Comment
  • Why I Maintain My $39 Price Target On BlackBerry [View article]
    While I am bullish on BBRY, I have to point out that your gross margin calculations are way off. $154 is the cost of components only, and does not include contract manufacturing costs, testing, packaging, shipping, etc.
    Feb 25 02:17 PM | 4 Likes Like |Link to Comment
  • Corning (GLW -3.5%) heads south following a downgrade to Neutral from Goldman. The firm argues the catalysts that drove its September upgrade - improving LCD industry fundamentals and capital allocation moves - are mostly played out in the wake of Corning's Q3 beat and Q4 pre-announcement. Moreover, it sees forex and a Q1 LCD inventory correction producing downside to estimates. Corning closed yesterday right around where it was when Goldman made its upgrade. [View news story]
    I do think forex risk is more substantial than what most people think:
    Jan 11 11:17 AM | Likes Like |Link to Comment
  • Why I Sold My Corning Shares [View article]
    Thanks for bringing this to my attention. SA is looking into the issue.
    Jan 9 11:06 AM | Likes Like |Link to Comment
  • Why I Sold My Corning Shares [View article]
    Thanks for the comments. I fully agree with your bullish points on Corning. These points obviously played a role in my initial decision to make Corning into a large position. They are a big part of the reason I kept ~40% of my position.
    Having said that, I do feel the yen exchange rate is not an insignificant factor. Based on management commentary is fairly straightforward to figure out the effects of that in Q4, but I am having a much harder time figuring out the longer term effects on profitability. That is why I decided to reduce my position until I get more clarity.
    Jan 9 10:48 AM | 1 Like Like |Link to Comment
  • Why I Sold My Corning Shares [View article]
    Very well put, Paul.

    I am well aware of the bull case for Corning and still maintain a position in the stock because of it. However, given the recent drop in the yen and my large position in the company, it was prudent for me to reduce my exposure at least until I get more clarity on the situation.
    Jan 8 10:22 AM | Likes Like |Link to Comment
  • More on Research In Motion: The company promises there will be over 70K BB10 apps at launch time - that's still a small fraction of iOS and Android's 700K+ apps, but probably better than some have feared. To attract developers, RIM (RIMM -2.2%) has been promising $10K payouts to the ones who produce $1K+ in sales. However, some top developers, such as WhatsApp, have indicated they don't plan to support BB10. [View news story]
    Just to clarify, WhatApp has said that they don't have any plans to support BB10 "at the moment". More than likely, they are awaiting to see the market reception of the new platform before they commit resources to it.
    Dec 18 02:52 PM | 3 Likes Like |Link to Comment
  • Dolby Laboratories: The Good, The Bad And The Unknown [View article]
    Thank you for your kind words.
    Nov 27 11:37 PM | Likes Like |Link to Comment
  • Dolby Laboratories: The Good, The Bad And The Unknown [View article]
    Thank you for the kind words. I haven't analyzed DTS as closely as Dolby. Mainly because the financials never looked particularly strong. Having said that, with the recent drop in share price I am enticed to take a closer look. I will keep you posted on my findings.
    Nov 27 11:36 PM | 1 Like Like |Link to Comment
  • The Real Reason Groupon Plummeted After Earnings [View article]
    Thanks for the kind words Hari. Please note that I am not saying their cash balance is $300M, I am saying their cash cushion is $300M or less. In other words, if they were to liquidate the business today, they would have to use most of the cash to pay merchants and other current liabilities.

    In terms of use of cash since IPO, company received $881M from proceeds of IPO. They had a loss of close to $300M in the 4th quarter of last year (this is the quarter during which the IPO took place). Since then, they have had positive income in aggregate. However, they have spent some $440M in the last 4 quarters on CapEx and investments, including acquisition of BreadCrumb and Savored.
    Nov 19 11:06 AM | 1 Like Like |Link to Comment
  • The Real Reason Groupon Plummeted After Earnings [View article]
    The analysts revenue forecast, and the company's own guidance for that matter, is for total revenue and not just third party revenues. Within the different revenue streams, direct revenue (think Groupon Goods) is growing very rapidly which so far has made up for the decline in third party revenues. As Groupon Goods continues to grow from a larger base, it is possible for Groupon to grow total revenues while third party revenues decline

    The problem as I explain in the article is that direct revenues generate much smaller gross profits for the company.

    I would be looking closely at the breakdown of the revenues in the next quarters. Any signs of renewed growth in third party revenues would be very positive for the stock.
    Nov 17 01:31 PM | 1 Like Like |Link to Comment
  • Marvell: Deep Value Or Value Trap? [View article]
    Nicely written and very informative. Great job.

    I have a couple of questions for you. First, in your opinion, does Marvell have any technological advantage in the SSD controller business over the others?

    Also, do you know the breakdown for the HDD controllers in terms of end markets (PCs, DVRs, data farms and servers, etc)?
    Oct 4 03:19 PM | 2 Likes Like |Link to Comment
  • Yelp Is Not Worth $1.35 Billion [View article]
    Good article. For the most part I agree with you on the valuation argument. However, I would be extremely hesitant to short this stock. Apple is ditching Google Maps as their default map app on iOS devices, and Yelp's service is being integrated in Apple's own Maps app.

    Without much detail about the terms of Apple's partnership, it is hard to measure what the financial impact will be on Yelp and its revenues. But it is reasonable to assume this partnership will help increase Yelp's market penetration. Also, Yelp may be an attractive strategic acquisition for Apple as they attempt to reduce their dependence on Google.
    Sep 4 07:58 PM | 2 Likes Like |Link to Comment