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  • The Ever-Changing World Of Apple [View article]
    davel:

    Thank you for your comment. The regional revenue mix will remain quite dynamic this fiscal year as Apple folds retail store revenue into the five geographic regions and, the iPhone 6 handsets break all previous unit sales records and the Apple Watch makes its debut.
    Jan 1, 2015. 11:21 PM | Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    Michael Dance:

    Thank you for your comment. If I recall correctly, Alex Guana was among the most vocal Apple bears on Wall Street. That makes his current $150 price target all the more remarkable.

    Regarding Samsung, a recent report suggested Tizen might be used for a TV product to be released in 2015 but there are no plans to make a serious effort with Tizen in the smartphone market at this time. In my view, Samsung is an efficient maker of mid-line products and can be a fast follower. But absent a means to differentiate its products in the market place, the company will remain among the largest Android device makers on the planet but not a real competitor to Apple.

    As the 5K display iMac demonstrates, Apple can deliver a world-leading display. But why venture into conventional TVs? Exactly what “problem” would the initiative resolve?

    In my view, TVs are a highly commoditized product with very thin margin opportunities. Licensing the company’s software technologies to integrate Apple’s highly desirable eco-system into the living room experience might be a more productive approach.

    Apple can also deliver enhanced functionality through an upgraded Apple TV. Apple’s migration to 64-SOCs for iOS-based devices has been all but summarily ignored by the tech and financial press. I’d like to see iOS-based gaming capabilities added to the Apple TV and Apple’s acquisition of PrimeSense in late 2013 has yet to be leveraged in the company’s products.
    Dec 31, 2014. 12:21 AM | Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    Willy Shoemaker:

    I also wouldn’t be disappointed with an 8% dividend increase of approximately $.15 per share. I do not see a need for Apple to aggressively increase the dividend at a time the company is setting records for revenue, net income and earnings per share while completing the biggest capital return program in enterprise history.

    The ongoing $90 billion share repurchase program will benefit shareholders for years while providing for a lower fully diluted share count upon which to raise dividends in the future.
    Dec 31, 2014. 12:02 AM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    Tai Yu:

    Thank you for your comment. Apple is borrowing funds exclusively to facilitate the completion of the $90 billion share repurchase program rather than repatriate foreign-sourced earnings for the same purpose.

    Please take a look at the fully diluted share count as of October 10, 2014 as published in the 10-K for FY2014. Apple averages the number of fully diluted shares each quarter. Using the 5.8648 billion shares reported as outstanding on October 10th, your eps estimates for the December quarter and FY2015 might move a bit higher.
    Dec 30, 2014. 12:21 AM | Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    DoctoRx:

    Thank you for your comment. I’m a bit perplexed as to why the White House and Congress have not worked to address the anti-competitive US corporate tax rates that provide clear and convincing reasons for US-based enterprises to permanently invest foreign-sourced earnings outside the US and to keep what is now trillions of dollars offshore rather than repatriate the earnings.

    As you point out, Apple has done the right thing by properly declaring a US tax expense on foreign-sourced earnings not permanently dedicated to use outside the US and the deferred tax liability now stands at more than $20 billion on the company’s balance sheet. The company is now borrowing funds to facilitate the $90 billion in share repurchases rather than remit the taxes that would be due on repatriation of foreign-sourced earnings if used for the same purpose.

    The apparent market share shift to Apple following the release of the iPhone 6 handsets indicates when all things are equal, consumers prefer Apple-branded products. I do believe the IBM agreement has been erroneously discounted by the market in terms of its value and both Apple Pay and the forthcoming Apple Watch are draws to the iPhone product line.
    Dec 30, 2014. 12:14 AM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    TechEnthusiast:

    I do expect some “pull” for the iPhone following the debut of the Apple Watch. But as you suggest, the greatest demand will come from current iPhone owners.

    We are in the midst of a dramatic market share shift to Apple in the high-end smartphone market following the release of the iPhone 6 handsets. As Katy Huberty has mentioned, the installed base of iPhones prior to the release of this year’s model was aged. There’s been pent-up demand for a larger-screen iPhone for the past couple of years and the larger-screen iPhone 6 models are taking significant market share away from competitors.

    We’ll know more on the scale of the market share shift when Apple releases December quarter results and March quarter guidance next month. I believe there’s sufficient demand from iPhone owners to create early success for the Apple Watch.

    At this time, Apple’s biggest competitor is Apple. We will see some falloff in demand for the iPad mini due to the release of the iPhone 6 handsets. But all things considered, that’s a nice predicament for the company.
    Dec 29, 2014. 11:55 PM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    jakknews:

    As I’ve said many times, in my view it’s net income and net income growth that will propel the share price higher. I don’t expect Apple to reach supply/demand equilibrium on the iPhone 6 handsets until well into the March quarter. Lunar New Year is on February 19th and the ongoing 4G/LTE roll out in China combined with the staggered upgrade patterns in the US for iPhone owners with subsidized contracts makes for a strong March quarter.

    No doubt there will be a sequential decline in iPhone sales in the March quarter, but the year-over-year performance of the iPhone line may still be impressive.
    Dec 29, 2014. 11:46 PM | Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    chano:

    My personal productivity improved dramatically following the replacement of an XP box on my work desk with an iMac. I now use an iMac at work and at home. I also use an iPhone and iPad throughout the day. The integration of services across all Apple-branded devices has improved my workflow. Each new Apple device I purchase enhances the productivity value of each Apple device I already own.
    Dec 29, 2014. 11:37 PM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    toneguru:

    The bottom line is production and post-production houses know time is money and the faster the digital processing the more dollars than can be made per artist, producer or employee. Purchasing a Mac Pro is mostly a one-time cost (not including the cost of periodic software upgrades) and a high volume house can leverage that investment many times over. While everyone might not need a $7,000 Mac Pro set-up, the Mac Pro does provide the power and the speed to justify the cost in a creative environment.

    As you point out, it’s the Mac portables and the iMac that deliver the unit volume. But the ASP and margin on the Mac Pro line is quite attractive.
    Dec 29, 2014. 11:28 PM | Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    diaboliqueguan:

    We are witnessing a dramatic market share shift in the high-end smartphone market on a global basis since the release of the iPhone 6 handsets. Apple has resolved network compatibility problems through the migration to 4G/LTE and many economies within the EU are experiencing growth.
    Dec 29, 2014. 11:10 PM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    chano:

    As we know, Apple is engaged in the biggest capital return program in enterprise history. The $90 billion share repurchase program to be completed by the end of CY2015 will benefit shareholders for years to come. I’d like to see the program expanded to $100 billion with an ongoing commitment to repurchase sufficient shares each quarter to eliminate share dilution from stock-based compensation.

    Most of the shares that have already been repurchased were repurchased at prices that today would be considered a bargain. The dividend will rise over time and at a pace that’s supported by net income growth.

    Apple is already among the highest dividend distributors on the planet. The share repurchase program will provide for higher future dividends per share through the reduction in the number of shares subject to dividend payments.

    If there’s a time to repurchase shares, it’s now. The repurchase program has been an effective use of shareholder assets and will buoy the share price for years to come.
    Dec 29, 2014. 11:05 PM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    Aaron:

    Apple has been investing heavily in content distribution infrastructure at locations in Nevada, North Carolina and Oregon. I suspect Apple has plans to make greater use of this distribution capacity in the coming years. Each of the sites can accommodate ongoing capacity development.
    Dec 28, 2014. 11:36 PM | 4 Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    thotdoc:

    I use an iMac at work as well as an iMac at home. Combined with the iPhone and iPad I use throughout the day, I have never been more productive. Many services are fully integrated across all of the devices and I don’t miss an important communique no matter which device I am using at the time.

    We don’t need to wait for the future for Apple to deliver fully integrated productivity enhancing solutions. I’m looking forward to what Apple will deliver through its eco-system for home automation and the release of the Apple Watch is only months away.
    Dec 28, 2014. 10:17 PM | 1 Like Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    jazz:

    I recently upgraded to the iPad Air 2. I consider it an extraordinary well-designed device. The new 5K iMac is also appealing. The iPhone 6 handsets are shifting share in the high-end smartphone market and the Apple Watch has yet to make its debut. It's an exciting time for Apple, the company's customers, employees and shareholders.
    Dec 28, 2014. 09:38 PM | 2 Likes Like |Link to Comment
  • The Ever-Changing World Of Apple [View article]
    bjnflicks:

    In my view what drives Apple’s share price appreciation is net income and net income growth. Apple set its current net income record in 2012. I expect net income in FY2015 to exceed FY2012’s performance.

    I’m not concerned at all with the earnings multiple. Rising net income will boost the share price. Additionally, because Apple averages the fully diluted share count each quarter, the large share repurchase activity in the September quarter will be fully recognized beginning this quarter and will benefit earnings per share throughout the fiscal year.
    Dec 28, 2014. 09:28 PM | 4 Likes Like |Link to Comment
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