Stocks on My Watchlist: Apple, Google, Cardinal Health [View article]
Reinharden, I completely agree with your points, but would like to offer a correction about their cash position. Have a look at their balance sheet. Only in the three quarters did they begin putting money into the category 'Long Term Investments'. This is due to iPhone accounting minutiae, as in the difference between when they recognize revenue from iPhone (over 2 years) versus when they recognize cash (now).
The end result is free cash flow of $2.5 to $3 billion per quarter, and Apple's net cash/investments position to be more like $32.5 billion when they report in 10 days. It's underappreciated but at some point it will make the stock move sharply upward.
Stocks on My Watchlist: Apple, Google, Cardinal Health [View article]
The end result is free cash flow of $2.5 to $3 billion per quarter, and Apple's net cash/investments position to be more like $32.5 billion when they report in 10 days. It's underappreciated but at some point it will make the stock move sharply upward.
Hedge Fund Tracking: Farallon Capital Management (Thomas Steyer), Q3 2008 [View article]
Please, I would like to short them. Thanks!