Apple Offering Excellent Entry Point [View article]
Even though Apple is trading at the low-end of a three-year earnings multiple valuation range and cash per share is continuing to rise each quarter, earnings growth alone will deliver share price appreciation over the next twelve months.
Apple Offering Excellent Entry Point [View article]
Apple will retrace to its all time highs. But be careful on share price performance expectations immediately following the release of FQ1 results. Apple will deliver revenue and earnings growth in the December quarter but not at rates on the scale and magnitude of last year's performance. Share price appreciation will occur during the fiscal year and may track closely with the quarterly rates of earnings growth.
Apple Offering Excellent Entry Point [View article]
ubeenfranked:
Thank you for your comment. I agree long-term is best measured in years. My analysis focuses on six, twelve and eighteen month periods because of the dynamic nature of Apple's revenue mix.
In FY2013, 80% of Apple's revenue may be derived from products that did not exist in the market as recently as six years ago. Six years from today I suspect we will be discussing Apple and a much different selection of products and services.
Apple Offering Excellent Entry Point [View article]
brotherbear:
I don't suggest anyone "bet" on any stock. I do suggest investors evaluate an enterprise's fundamentals and prospects for growth. This is an excellent entry point for long-term Apple investors.
Apple Offering Excellent Entry Point [View article]
Positiveprosperity:
Apple is indeed building for the future and management is investing heavily for future growth. I expect impressive results this fiscal year and at this time I foresee extraordinary results in the first six months of FY2014.
Apple Offering Excellent Entry Point [View article]
Piptief:
Knowledge and patience are among a small investor's most important resources. Apple will move significantly higher over the next twelve months. The iPad mini will prove to be a very popular product during the holiday season.
Apple Offering Excellent Entry Point [View article]
Wall Street Smart:
Demand for the iPhone 5 is beyond question. Apple does not contract for short-term manufacturing capacity and the production ramp will continue through the December quarter. As I mentioned in an article last week, Apple is best viewed by seasons, not by quarters. I view the December and March quarters as essentially a seamless six-month period of revenue and earnings growth.
Apple Offering Excellent Entry Point [View article]
cfvaughnii:
Apple's gross margin in FQ1 2012 was 44.68%. The 47.37% gross margin was delivered in the March quarter. I agree. At a price-earnings multiple of less that 14x trailing 12-month earnings and nearly $128 in cash standing behind each outstanding share, the December quarter's gross margin will not be a factor in the share price performance over the next 12 months. Gross margin will move higher as we journey through the fiscal year.
Apple Offering Excellent Entry Point [View article]
Camden:
As I mentioned in the article, Apple had an impressive average gross margin last fiscal that may not be seen again until the first two fiscal quarters of FY2014. I don't see Apple reporting anywhere near 36% or 37% gross margin for the quarter. Due to the scheduled realization of fixed costs associated with the iPhone 5 changeover, the more iPhone units shipped in the December and March quarters the lower the average cost per unit.
I have cautioned that Apple will not deliver an earnings surprise in the December quarter this year on the scale and magnitude of last year's performance.
Apple Offering Excellent Entry Point [View article]
Camden:
I'll be posting a comprehensive gross margin and eps forecast at a later date. There are some substantial fixed costs that factor into the COGS numbers for the December and March quarters. There are costs specific to the iPhone 5 due to the manufacturing changeover for the new form factor that will not impact the incremental costs of each additional unit sold but will be reported as a COGS component.
Reported units sold will be a big factor in the average gross margin for the iPhone line. The good news is iPhone gross margin will gradually improve over the sales life of the iPhone 5 series of handsets.
Apple Offering Excellent Entry Point [View article]
The short-term iPhone 5 supply issues are best viewed in the context of extraordinarily high product demand. The first iteration of the iPad mini is designed for a relatively quick production ramp for the holiday season.
Apple Offering Excellent Entry Point [View article]
Apple Offering Excellent Entry Point [View article]
Apple Offering Excellent Entry Point [View article]
I look forward to comparing notes with you on Apple's FY2013 revenue growth performance twelve months from today.
Apple Offering Excellent Entry Point [View article]
Thank you for your comment. I agree long-term is best measured in years. My analysis focuses on six, twelve and eighteen month periods because of the dynamic nature of Apple's revenue mix.
In FY2013, 80% of Apple's revenue may be derived from products that did not exist in the market as recently as six years ago. Six years from today I suspect we will be discussing Apple and a much different selection of products and services.
Apple Offering Excellent Entry Point [View article]
I don't suggest anyone "bet" on any stock. I do suggest investors evaluate an enterprise's fundamentals and prospects for growth. This is an excellent entry point for long-term Apple investors.
Apple Offering Excellent Entry Point [View article]
Apple is indeed building for the future and management is investing heavily for future growth. I expect impressive results this fiscal year and at this time I foresee extraordinary results in the first six months of FY2014.
Apple Offering Excellent Entry Point [View article]
Knowledge and patience are among a small investor's most important resources. Apple will move significantly higher over the next twelve months. The iPad mini will prove to be a very popular product during the holiday season.
Apple Offering Excellent Entry Point [View article]
Demand for the iPhone 5 is beyond question. Apple does not contract for short-term manufacturing capacity and the production ramp will continue through the December quarter. As I mentioned in an article last week, Apple is best viewed by seasons, not by quarters. I view the December and March quarters as essentially a seamless six-month period of revenue and earnings growth.
Apple Offering Excellent Entry Point [View article]
Thank you for your kind words. I enjoyed composing this article.
Apple Offering Excellent Entry Point [View article]
Apple's gross margin in FQ1 2012 was 44.68%. The 47.37% gross margin was delivered in the March quarter. I agree. At a price-earnings multiple of less that 14x trailing 12-month earnings and nearly $128 in cash standing behind each outstanding share, the December quarter's gross margin will not be a factor in the share price performance over the next 12 months. Gross margin will move higher as we journey through the fiscal year.
Apple Offering Excellent Entry Point [View article]
As I mentioned in the article, Apple had an impressive average gross margin last fiscal that may not be seen again until the first two fiscal quarters of FY2014. I don't see Apple reporting anywhere near 36% or 37% gross margin for the quarter. Due to the scheduled realization of fixed costs associated with the iPhone 5 changeover, the more iPhone units shipped in the December and March quarters the lower the average cost per unit.
I have cautioned that Apple will not deliver an earnings surprise in the December quarter this year on the scale and magnitude of last year's performance.
Apple Offering Excellent Entry Point [View article]
I'll be posting a comprehensive gross margin and eps forecast at a later date. There are some substantial fixed costs that factor into the COGS numbers for the December and March quarters. There are costs specific to the iPhone 5 due to the manufacturing changeover for the new form factor that will not impact the incremental costs of each additional unit sold but will be reported as a COGS component.
Reported units sold will be a big factor in the average gross margin for the iPhone line. The good news is iPhone gross margin will gradually improve over the sales life of the iPhone 5 series of handsets.
Apple Offering Excellent Entry Point [View article]
Apple Offering Excellent Entry Point [View article]
Apple Offering Excellent Entry Point [View article]