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SA Editor Mohit Manghnani

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  • You Better Duck - Apple's Unit Profits Are Falling [View article]
    Nice analysis Stephen,

    Although, I partially agree with the average price per unit theory. This is because the it does not take into account the product mix shift. Eventually a lower ASP hits the margins. Apple's margins are declining, that is a well known fact. But that is how the life cycle of a product works. As a product matures in cycle, it tends to have a lower ASP and then for a company like Apple, iPods and iPhone 4's have a much lower margin (and the mini as well) that affects the ASP.

    But then the volume will grow gradually as new markets have started adapting Apple. Very often one forgets the share (relatively low as of now but unique) of iTunes revenue, which has high and consistent margins; expanding at a rapid pace and even when lower margin products are sold in growing markets, they generate potential for a life-long (almost) iTunes revenue. It's like Apple selling a car and then also selling gas to run it.

    Gradually the shift in product mix will stabilize the ASP which will be significantly higher than the existing companies. Moreover, as new products are launched (they will have highest margins then), it will be interesting to see the ASP then. That makes 2Q14 even more interesting.

    This makes the current position of Apple at a solid bottom IMHO.
    Apr 25 11:52 AM | 3 Likes Like |Link to Comment
  • Jazz Pharmaceuticals, Inc. misses by $0.06, misses on revenues [View news story]
    JAZZ numbers were compared to incorrect consensus earlier, now rectified.
    SA editor Mohit
    Feb 27 07:12 AM | Likes Like |Link to Comment
  • General Motors Company beats by $0.01, misses on revenue [View news story]
    We have corrected the EPS.
    Feb 6 07:43 AM | Likes Like |Link to Comment
  • Ready to launch this week is the KraneShares CSI China Five Year Plan ETF (KFYP) - set up to take advantage of Chinese central planning by investing in those companies it deems to benefit from Beijing's policies. Pretty much any stock-picker would try to do the same and indeed the fund's prospectus lists about the entirely of industries, excepting financials. It will be interesting to see how the holdings end up differing from FXI, GXC, CAF, or MCHI[View news story]
    Please visit the fund's website:

    Hope this helps.
    Jul 23 09:26 AM | Likes Like |Link to Comment
  • Senior Housing Properties Trust (SNH): Declares $0.38/share quarterly dividend, in line with previous. Dividend yield 6.7%. For shareholders of record Jul 26; payable Aug 24; ex-div date Jul 24. Shares -2.9% AH. (PR)  [View news story]
    Hi artdalo,
    Thanks for the heads up. The change has been made.
    Seeking Alpha
    Jul 10 10:02 AM | Likes Like |Link to Comment
  • Nordstrom (JWN) same-store sales: +10.2% beats consensus of +5.6%. Shares +0.8% premarket. (PR)  [View news story]
    The SSS figure has now been corrected.
    Mar 1 09:42 AM | Likes Like |Link to Comment
  • Initial Jobless Claims: -15K to 372K vs. -6K consensus. Continuing claims -22K to 3.6M.  [View news story]
    It was a misprint indeed. Corrected to -15K.
    Jan 5 09:31 AM | Likes Like |Link to Comment
  • Aug. same-store sales (actual vs. Thomson Reuters estimate), update #1:
    COST +11% vs. +9.3%.
    LTD +11% vs. +7.6%.
    SSI -1.7% vs. +0.5%.
    WTSLA +5.5% vs. +4.2%.
    ZUMZ +4.3% vs. +4.4%.
    2 misses, 3 beats.  [View news story]
    Corrected the typo to 3 beats.
    Sep 1 08:39 AM | Likes Like |Link to Comment
  • August ISM New York Business Index: 47.8 down from 57.2 in July. Despite weak current activity, "future optimism remained in positive territory," the report said. The six-month outlook index fell to 59.9 in August from 63.2 in July.  [View news story]
    Yes. It should read 'down from 57.2'. Corrected.

    Aug 31 09:05 AM | Likes Like |Link to Comment
  • Upside Surprise for Retailers Continues [View article]
    September retail sales still beat expectations. Is it real growth or just revenue boost due to heavy discounting? If its the latter, then the pocket conscious US consumer will not buy without the discounts. But at least decent in-store traffic brings a glimpse of recovery and hope as the holiday season unfolds...
    Oct 7 08:05 PM | Likes Like |Link to Comment
  • Aug. Leading Indicators: Leading Index +0.3% vs. +0.2% expected, +0.1% prior. Coincident Index Flat vs. +0.2% prior. Lagging Index +0.2% vs. +0.4% prior.  [View news story]
    Sep 23 10:53 AM | Likes Like |Link to Comment