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  • Apple's Latent Rates Of Revenue Growth [View article]
    DWBowers:

    Thank you for your comment. More than a purveyor of digital devices, Apple is a customer relationship continuum. Relative to Apple, market share is a meaningless and misapplied series of statistics.
    Jun 29, 2014. 01:32 PM | 3 Likes Like |Link to Comment
  • Apple's Latent Rates Of Revenue Growth [View article]
    pk de cville:

    Thank you for your comment. The underlying growth rates of Apple’s three major device lines and the rate of growth in the iTunes/Software/Services revenue segment have been obfuscated by the dramatic drop in revenue from the iPod product line. FY2014 is the last year in which the iPod line’s decline will have a material impact on Apple’s aggregate rate of revenue growth.
    Jun 29, 2014. 11:35 AM | 3 Likes Like |Link to Comment
  • Apple's Latent Rates Of Revenue Growth [View article]
    Book value:

    A quick tour of Apple’s App Store reveals an abundance of software available for the Mac. Adding to the value of an investment in a Macintosh are the cross-device services and functionality offered to owners of iPhones and iPads who choose to the migrate to Apple’s popular line of PCs.
    Jun 29, 2014. 11:28 AM | 6 Likes Like |Link to Comment
  • Apple's Latent Rates Of Revenue Growth [View article]
    Fear the cow:

    The expiration of support for Windows XP and the costs of migration to Windows 7 are providing Apple with an opportunity for greater reach into the enterprise market at this time. Continuity, introduced at WWDC, also raises the value proposition offered by the product line.
    Jun 29, 2014. 11:21 AM | 7 Likes Like |Link to Comment
  • Apple's Latent Rates Of Revenue Growth [View article]
    Tim:

    Thank you for your comment. The opportunity to disrupt the home gaming market and further extend the reach of Apple’s eco-system into the living room experience is real and a step by Apple I eagerly await.
    Jun 29, 2014. 11:13 AM | 6 Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Tomal:

    I expect high demand for the next flagship handset around the world. There was no mass migration from Apple due to larger screen sizes. The rate of growth in the high-end smartphone market has slowed. The issue is more of non-Apple smartphone owners choosing to migrate to the next flagship iPhone handset.

    China Mobile will participate for the first time in the initial roll out of a new iPhone handset this fall and the US carriers have tightened their upgrade policies. As you point out, there’s a large pool of iPhone 4 series handset owners in the US that may find the next flagship iPhone handset quite appealing.
    May 28, 2014. 12:07 AM | Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Andreas:

    Samsung’s biggest competitor in now Lenovo, not Apple. Android handset makers compete with each other more than any individual Android handset maker can compete with Apple. The addition of China Mobile and NTT DoCoMo as authorized iPhone carriers has changed the competitive environment in two of the world’s largest digital device markets.

    To suggest Apple is “too late” with a larger screen iPhone is pure conjecture.
    May 26, 2014. 10:00 AM | 4 Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Braeburn:

    I like your numbers. I can see the market awarding Apple a multiple in the 16x range. Again, it’s the rate of net income growth amplified by the share repurchase program that will move the share price higher, not a big expansion in the multiple.
    May 26, 2014. 09:47 AM | 1 Like Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Andreas:

    If your statements are correct, why did Google sell the MMI unit on the cheap to low-cost device maker Lenovo and exit the device market? I seriously doubt the buyer of the $79 Android 3.2.3 handset at my local supermarket cares about Google services. The buyer wants a cheap, no-contract phone.

    If demand for Google services was so high, the “Moto X” initiative would have proven to be a success and would have sustained the company’s handset efforts.

    Android 4.4 (KitKat) released in late October represents only 8.5% of Android handsets in use according to the Android developer site. Android 2.x still represents 18% of handsets in use. Android 3.2 handsets, first released in December 2011, have 13% of installations.

    Whatever the consumer surveys and focus groups are telling you aren’t messages getting through to handset buyers.

    I’m not disputing the fact consumers might find some Google services attractive. But those services are available on iOS and Android. I don’t see a “walled garden” anywhere that prevents a migration barrier from Android to iOS.
    May 26, 2014. 09:42 AM | 4 Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Budavar:

    Apple recently exited a multi-quarter cycle of negative net income growth. I see solid net income growth at least through the March quarter (Q2 FY2015) and a net income growth string over the next several fiscal quarters.

    The market may push Apple’s multiple in the range of 16x trailing 12-month earnings with a temporary burst above that range in anticipation of very strong quarterly results. However, I expect net income growth to be the primary catalyst for share price appreciation with the rising dividend providing price support. The ongoing share repurchase program will amplify the impact of rising net income on the earnings per share performance.

    I believe long-term shareholders will be satisfied with rising net income, a rising annual dividend with a boost to eps as Apple continues to repurchase shares to increase share value.

    Historically, the market does not award Apple with high multiples. Historical data will be skewed by the deferred revenue schedule Apple adopted with the initial release of the iPhone. At that time virtually all iPhone revenue was deferred and the market value reflected very high deferred revenue balances through a higher multiple at the time.
    May 26, 2014. 01:38 AM | 1 Like Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    imac007:

    Thank you for your comment. There isn’t nearly as much attention given to Apple’s performance by regional revenue segment as there is focus on global unit sales of the company’s popular device lines. But regional and local factors influence unit sales around the world.
    May 26, 2014. 01:13 AM | 1 Like Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    Andreas Hopf:

    If Google’s services have been free, how are users “walled in” to the platform? Google remains a major developer of apps for iOS and offers many of its services for free to iPhone owners as well.
    May 25, 2014. 10:44 PM | 3 Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    feier1:

    Apple will keep to a small number of major device lines. But similar to the way Apple offers Airport networking equipment for product users and provides Apple-branded and 3rd-party accessories, the company will continue to market constituent and ancillary products for its devices especially if opportunities for developers and content providers are part of the package.

    The Apple TV provides for iTunes content distribution into the living room and an iWatch may open new markets for developers and service providers.

    In my view, content sells devices.
    May 25, 2014. 10:38 PM | 2 Likes Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    LJF97:

    While Apple may have a fanatical following, it’s not a high percentage of the company’s nearly 800 million customers worldwide. With a current market cap of about $530 billion, I submit it’s earnings growth and not a big expansion of the current multiple that will drive the share price significantly higher. While the market might award a multiple in the range of 16x trailing 12-month earnings, I don’t see a multiple of 20x earnings in the proverbial cards at least not on a sustainable basis.
    May 25, 2014. 10:29 PM | 1 Like Like |Link to Comment
  • Apple's Global Picture In 1,500 Words [View article]
    retailexecutive:

    Thank you for your comment.

    In my view, innovation comes in many forms. I believe Apple’s migration to 64-bit mobile computing has been overlooked and the platform offered to developers is rich in opportunities.

    I agree there’s something a bit underwhelming for a small investor in being able to purchase only a couple/few shares of a company. This is addressed in the forthcoming 7-for-1 split. The rising dividend and the $90 billion share repurchase program provide support for the share price.

    Apple has just exited a multi-quarter cycle of negative net income growth. It’s my view net income growth is the primary catalyst for the share price. I expect solid net income growth through at least the March quarter of next fiscal year.
    May 25, 2014. 05:21 PM | 3 Likes Like |Link to Comment
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