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Vegas Ben

 
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  • Apple (AAPL) releases Tim Cook's official statement (.pdf) to the Senate ahead of his Tuesday appearance at a hearing on corporate tax payments. Among other things, Apple claims it paid ~$6B in federal taxes in FY12 and a 30.5% effective federal tax rate, and that its foreign units don't engage in the practices the hearing focuses on (the shifting of IP to offshore havens, revolving loans from subsidiaries, etc). The company proposes a tax system that's "revenue neutral, eliminates all tax expenditures, lowers tax rates and implements a reasonable tax on foreign earnings." (previous[View news story]
    All the tax talk all over the internet is dragging down the stock price:
    After Hours: 439.62-3.31 (-0.75%)
    May 20 08:17 PM | Likes Like |Link to Comment
  • Apple (AAPL) releases Tim Cook's official statement (.pdf) to the Senate ahead of his Tuesday appearance at a hearing on corporate tax payments. Among other things, Apple claims it paid ~$6B in federal taxes in FY12 and a 30.5% effective federal tax rate, and that its foreign units don't engage in the practices the hearing focuses on (the shifting of IP to offshore havens, revolving loans from subsidiaries, etc). The company proposes a tax system that's "revenue neutral, eliminates all tax expenditures, lowers tax rates and implements a reasonable tax on foreign earnings." (previous[View news story]
    Davidoff, who should they pay taxes to if they make the money in other countries? Should Samsung pay 35% taxes on any money that it makes outside of the United States? Or is it only American companies that should have to pay repatriation taxes, thus giving companies like Samsung a huge cash advantage?
    May 20 08:13 PM | Likes Like |Link to Comment
  • Google (GOOG) roundup: 1) YouTube's video upload rate has passed 100 hours per minute. That's up from 72 hours last year, and 48 the year before. The milestone comes as YouTube expands live streaming support, and announces plans to unify its design across devices/platforms. 2) In July, Dell (DELL) will begin selling Project Ophelia, a $100 USB flash drive-shaped device that allows any monitor with an HDMI port to be turned into an Android PC. Dell is also working on "a keyboard-like technology for users to type when Ophelia is docked to a screen." [View news story]
    If history is any indication, nobody will buy them unless they swap out the Dell logo for an Apple logo.
    May 20 07:53 PM | Likes Like |Link to Comment
  • Google (GOOG) roundup: 1) YouTube's video upload rate has passed 100 hours per minute. That's up from 72 hours last year, and 48 the year before. The milestone comes as YouTube expands live streaming support, and announces plans to unify its design across devices/platforms. 2) In July, Dell (DELL) will begin selling Project Ophelia, a $100 USB flash drive-shaped device that allows any monitor with an HDMI port to be turned into an Android PC. Dell is also working on "a keyboard-like technology for users to type when Ophelia is docked to a screen." [View news story]
    Ophelia is a cool idea! Though, the initial hardware for such a device would likely be quite poor compared to larger computers, and likely wouldn't be useful for anything that needs a lot of power.
    May 20 07:03 PM | Likes Like |Link to Comment
  • Apple (AAPL) releases Tim Cook's official statement (.pdf) to the Senate ahead of his Tuesday appearance at a hearing on corporate tax payments. Among other things, Apple claims it paid ~$6B in federal taxes in FY12 and a 30.5% effective federal tax rate, and that its foreign units don't engage in the practices the hearing focuses on (the shifting of IP to offshore havens, revolving loans from subsidiaries, etc). The company proposes a tax system that's "revenue neutral, eliminates all tax expenditures, lowers tax rates and implements a reasonable tax on foreign earnings." (previous[View news story]
    Saying emissions control causes pollution is like saying that quitting smoking causes lung cancer.
    May 20 05:12 PM | 1 Like Like |Link to Comment
  • Apple (AAPL) releases Tim Cook's official statement (.pdf) to the Senate ahead of his Tuesday appearance at a hearing on corporate tax payments. Among other things, Apple claims it paid ~$6B in federal taxes in FY12 and a 30.5% effective federal tax rate, and that its foreign units don't engage in the practices the hearing focuses on (the shifting of IP to offshore havens, revolving loans from subsidiaries, etc). The company proposes a tax system that's "revenue neutral, eliminates all tax expenditures, lowers tax rates and implements a reasonable tax on foreign earnings." (previous[View news story]
    Well said, Apple!
    May 20 04:20 PM | 2 Likes Like |Link to Comment
  • Even With Extreme EPS Growth, LinkedIn Is Still A Loser's Bet [View article]
    LNKD definitely does look like a dot com era valuation, but I disagree on AMZN. AMZN's P/S is only 1.88 compared to about 22.5 when the bubble popped in 2000. Interestly, LNKD's all-time high was also approximately 22.5 on the day of its earnings release. AMZN's high P/E is due to very aggressive investment into growth.
    May 14 12:54 PM | Likes Like |Link to Comment
  • Even With Extreme EPS Growth, LinkedIn Is Still A Loser's Bet [View article]
    By your own method, in 2022, even with 0% future growth, the shares would be a "sensible investment" at $788 (10 x $78.81), and the owner of the shares would've had 450% returns on their investment.
    That is far better than a "sensible investment". That would be a great investment!
    Maybe your your idea of a "sensible investment" works on a stock with little to no growth, but when growth is factored in, it doesn't appear to be useful in any meaningful way.
    May 13 02:05 PM | 2 Likes Like |Link to Comment
  • Even With Extreme EPS Growth, LinkedIn Is Still A Loser's Bet [View article]
    "That means that LinkedIn's EPS will have to grow from $0.21 to just above $75 until 2022. "

    Can you please explain how a company priced at $175 has to grow earnings to $75 per share in order to be a sensible investment? That would be an absurdly low P/E of 2.33.

    I agree that LNKD longs are likely to lose money in the long term, but there appears to be a significant flaw in your calculations.
    May 13 12:55 PM | 1 Like Like |Link to Comment
  • With bad user reviews piling up, Facebook Home (FB) has fallen out of App Annie's top-100 Google Play download lists for every covered market. Nonetheless, those who have downloaded Home are spending 25% more time using Facebook than before, giving Mark Zuckerberg & Co. a big incentive to right the ship. Updates will soon bring back two Android staples - an app dock and folder support - but there's no word on when a third (widgets) whose absence has sparked many complaints will arrive. Meanwhile, Home now supports Samsung's Galaxy S4, and AT&T has cut the price of the HTC First to a subsidized $0.99. (previous[View news story]
    They'd have to pay me to have one at this point!
    May 11 10:32 PM | 3 Likes Like |Link to Comment
  • Apple: The Bottom Has Yet To Be Reached [View article]
    I hope it drops to 440, because I will load up big time, and it will likely never touch 440 ever again after this year.
    May 11 10:22 PM | Likes Like |Link to Comment
  • Apple: The Bottom Has Yet To Be Reached [View article]
    "Oh, and by the way, historically Apple declines in 51% of all May periods. The odds just don't favor a long position in Apple at the moment."

    You posted that the average change is 1.76%, which means that the odds actually do favor a long position with annualized May returns of 21.12%, which is far better than any index funds.
    May 11 12:59 PM | Likes Like |Link to Comment
  • Apple: The Bottom Has Yet To Be Reached [View article]
    No, the current value would be 243% of the starting value, but when you talk about how much the gain was, you don't include the amount of the starting value as part of the percentage. The 'gain' would be 143%, because he gained only $265, which is 143% of $185.
    May 11 12:55 PM | Likes Like |Link to Comment
  • Apple: The Bottom Has Yet To Be Reached [View article]
    "I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours."

    Scared to take your own advice?
    May 10 08:25 PM | 2 Likes Like |Link to Comment
  • Apple (AAPL -0.8%) roundup: 1) Gene Munster fires up his spreadsheet and concludes the odds of Apple's gross margin (37.5% in FQ2) falling below 30% are close to nil. He thinks GM would still be 32% even if a cheaper iPhone cannibalized 50% of regular iPhone sales and had only a 15% GM, and a TV with a 10% GM arrived. 2) The USPTO has rejected more Apple patent claims (previous). This time, they involve a patent for showing translucent images. Apple will almost certainly appeal. 3) A Strategy Analytics survey found 4.5" was the most preferred smartphone display size in 2H12. Moreover, a majority of respondents "indicated that they preferred prototypes that have a larger screen than their current phone." [View news story]
    Right... because healthy companies should have a P/E under 2.5 excluding equity...
    May 10 07:58 PM | 7 Likes Like |Link to Comment
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