Amazon Earnings Broadly As Expected [View article]
MIchael - sorry to say that the analysts notes and reactions so far has been very positive. Mahaney (Citigroup), Hottovy (Mornigstar), and Cedit Suisse still appear to frothing over the numbers, even if a little more subdued than prior Q's .... CS has changed the metric again - now claiming that gross margin $ is the focus item - up 35% Y/Y (prior metrics in order: rev growth, FCF growth, CSOI improvement, GM%, now GM$). Of course he fails to mention that AMZN accounts for its costs below the GM$ line on all its new growth businesses (AWS and 3P) - so GM% (linearly) and GM$ Exponentially with rev growth) have to increase by definition.
Amazon Earnings Broadly As Expected [View article]
Market Makers are having fun with it right now .. steady slow climb on little to no volume ... up about $10 linearly over the past 30 minutes now to $269.50 .. they are not yet ready to give up. My hope is that tomorrow when the big volume steps in, there will be profit taking and maybe even some closing of positions.
Amazon's Earnings: Visibility On Profit Margins Needed To Lift Stock [View article]
Michael - I don't think there is any doubt about that, as Amazon's ASP has continued to decline substantially over time (from my ASP articles). Some of this is from 3P growing faster, and some is related to larger ticket items' growth slowing vs. lower cost items (for a number of reasons including sales tax).
Amazon Loses Money On Both Prime And Its Entire Direct Retail Business [View article]
bleonard - I agree with you completely, there were many subtle, yet telling comments in that letter (addressing the stock price is highly unusual)- very defensive in nature in many ways. It signaled bad Q to me, but tough to know for sure.
Investors Are Missing Apple's China Opportunity [View article]
shawndean - not citing rumors, this article is what I know, but obviously I don't disclose sources. I have worked in the computer/consumer electronics business for almost 19 years as a supplier to all of the bigs and have spent a tremendous amount of time in greater China (with almost all of the ODM / CM's).
Investors Are Missing Apple's China Opportunity [View article]
Boy, is Dan Niles wrong on CNBC right now - he must have no connections at Apple or in the community. They are working on both a low cost phone and a larger screen ...
Investors Are Missing Apple's China Opportunity [View article]
tradewiz - a lot of companies have had great products that never sell. Apple does have great products, and now they are opening up a new 700M unit market for those great products. This 100M unit incremental increase in iPhone sales to China will generate more EBIT in one year than companies like Amazon have made in its entire existence.
More great products will be coming after the 5S. The pipeline is very strong. But in the mean time, enjoy the 5S ramp if you are long.
Investors Are Missing Apple's China Opportunity [View article]
musiccomposer - I can't believe that right now AMZN Enterprise value is 51% of Apple's. Think about that fact for a minute ... - Apple revenue is 3x bigger, - growth is higher (and has higher margin per $), - AAPL book value is 15.5x AMZN, - AAPL 2.6% dividend vs. AMZN 0%, - AAPL current ratio of 1.5 vs. AMZN 1.1, - $41.7B in earnings in CY12 for Apple vs. a loss for Amazon. - Apple Earnings are expected to be 61,000 times larger than AMZN in 2013.
Investors Are Missing Apple's China Opportunity [View article]
TimF,
That is why I believe they separated out Greater China - to highlight the incremental margin and growth vs. the rest of Asia-Pac. India, SE Asia and Korea have been a struggle, but China has more affluent people in it than the US. Once China Mobile is opened up, they will gain significant share.
Amazon Loses Money On Both Prime And Its Entire Direct Retail Business [View article]
NWCorner,
Amazon's accounting methodology allows for 100% product margin for 3P sales (as they are really a transfer agent/broker on much of the sales, and a titleless distributor on the rest). This is an appropriate way to do this if they do not assume title of the products. Since they do not assume title, they only record the fees, commissions and shipping income as revenue (not the price on the sale).
So, they claim the portion of revenue for fees/commission (about 11% of the sale) and do not claim the rest of the revenue they collect for sellers.
Amazon Earnings Broadly As Expected [View article]
Amazon Earnings Broadly As Expected [View article]
Amazon's Earnings: Visibility On Profit Margins Needed To Lift Stock [View article]
Amazon's Earnings: Visibility On Profit Margins Needed To Lift Stock [View article]
Amazon Loses Money On Both Prime And Its Entire Direct Retail Business [View article]
Investors Are Missing Apple's China Opportunity [View article]
On the quote - I am not the only one saying that about the 2 5S versions this summer: here is another source:
http://on.wsj.com/YxSs4G
Investors Are Missing Apple's China Opportunity [View article]
Investors Are Missing Apple's China Opportunity [View article]
Investors Are Missing Apple's China Opportunity [View article]
More great products will be coming after the 5S. The pipeline is very strong. But in the mean time, enjoy the 5S ramp if you are long.
Investors Are Missing Apple's China Opportunity [View article]
- Apple revenue is 3x bigger,
- growth is higher (and has higher margin per $),
- AAPL book value is 15.5x AMZN,
- AAPL 2.6% dividend vs. AMZN 0%,
- AAPL current ratio of 1.5 vs. AMZN 1.1,
- $41.7B in earnings in CY12 for Apple vs. a loss for Amazon.
- Apple Earnings are expected to be 61,000 times larger than AMZN in 2013.
But yet Apple trades at only 1.98x AMZN EV
Investors Are Missing Apple's China Opportunity [View article]
That is why I believe they separated out Greater China - to highlight the incremental margin and growth vs. the rest of Asia-Pac. India, SE Asia and Korea have been a struggle, but China has more affluent people in it than the US. Once China Mobile is opened up, they will gain significant share.
Investors Are Missing Apple's China Opportunity [View article]
Investors Are Missing Apple's China Opportunity [View article]
Amazon Loses Money On Both Prime And Its Entire Direct Retail Business [View article]
Amazon's accounting methodology allows for 100% product margin for 3P sales (as they are really a transfer agent/broker on much of the sales, and a titleless distributor on the rest). This is an appropriate way to do this if they do not assume title of the products. Since they do not assume title, they only record the fees, commissions and shipping income as revenue (not the price on the sale).
So, they claim the portion of revenue for fees/commission (about 11% of the sale) and do not claim the rest of the revenue they collect for sellers.
Diamond Foods Expected To Drop Further [View article]