Market Currents
More on UBS's Apple (AAPL -2.9%) target cut: Analyst Steve Milunovich hasn't changed his FQ1...
-
Friday, December 14, 2012, 10:19 AM ETMore on UBS's Apple (AAPL -2.9%) target cut: Analyst Steve Milunovich hasn't changed his FQ1 iPhone forecast much, but has lowered his estimates for each of the next 3 quarters by 5M. He claims Supply chain checks indicate the iPhone build rate will fall to 25M in the March quarter (his sales estimate for the quarter is still at 40M); that some Chinese sources don't expect the iPhone 5 to do as well as the 4S; and (like others) that the iPad Mini is cannibalizing its bigger peer. On a more positive note, he thinks China Mobile could start selling the iPhone in a year. (Macquarie)
Other date
TECH ETFs IN FOCUS
Latest Tech Articles
This news story has 31 comments:
Maybe UBS should come out with articles about how Google is too ashamed of Android tablet sales to release tablet-only activation figures.
i think a low 600 / hi 500 trading range for 2013 seems likely. there simply has not been an earnings disruption - the one that took NFLX/RIMM etc down is not on the horizon for apple yet. and when the story is back in vogue for whatever reason (exploding tablet market/Apple TV, whatever) the shorts will cover and the funds will add...
another way to think of it - how comfortable would you be with a very large - hedge fund type - short position w/apple at essentially 8X forward earnings (less cash)? and a conservative low to mid 2013/14 growth rate? 500 give or take rock bottome
Will Apple do it first? It will be taking a big chance in potential short term lost profits on separate units, but did that ever stop Steve Jobs from acting upon what he saw was the future?
If an anlayst makes a call on Apple in the woods and there is nobody there to hear it, do they make a sound?
COVERAGE REITERATED: Apple (AAPL) reiterated by UBS. Reiterated rating Buy.
BRIEFING.COM – 10:33 AM ET 12/14/2012
now so much has been written about AAPL but the fact is that they make numero uno products...I am using their iPod for my live performance gigs - that thing (iPod ) is UNBELIEVABLY reliable; has fallen down so many times yet delivers great organization and perfornce with fidelity gig after gig; I am also a teacher and I love the macs at work...waiting to see most of my students coming in with mini ipads over the next years; my supervisor comes with an iPad to check my teaching.I serve the fifth largest district in the States (Clark County in Nevada); at home: my daughter sleeps with her iPad its the next thing she wears after her clothes; at my desk I still have a lousy PC so I suffer crashes after crashes; viruses after viruses; have to antivirus programs etc; our next cellphone is going to be an iPhone for sure ...thats whats going in my side of the world; and no matter what they say AAPL products are the best... unfortunately the stock price is subject to the casino rules of Wall Street boys and girls......
Steve Jobs was Apple. Apple wasn't a company; it was a state of mind, created by a once-in-a-generation Pied Piper, a cultural deity, if you will. Now, the communicatons-world "Jim Jones" is dead, the Kool-Aid machine is empty, and the acolytes are rudderless.
Apple has fallen from its ethereal position in the skies and back to Earth, as a mere vendor of electronic products, run by mortals, who now engage is the messy pursuits of corporate bureacrats, e.g., internal bickerings, personnel firings, shake-ups, etc., all in search of the illusive intangible that was effortlessly provided by Jobs, but is wholly beyond the reach of the earthbound custodians he left behind. Vision, innovation and evangelical image creation have now been supplanted by lawsuits, as a business strategy. Now, they are left to deal with mundane issues, like prices, margins, suppliers, and aggressive competitors, none of which are going to be made to disappear with a 1984-like hammer throw.
Welcome to the real world.
Your narrative gets its poetry at the expense of accuracy. The real world is indeed complicated.
I realize that Jobs ranted about lawsuits and suing everybody into the ground, but that's not how he built his "church." Now, there's no "aura" to Apple, and it must compete on a much more down-to-Earth mundane basis, and there's no economic premium afforded to that.
I'm not sure it's as easy as saying, "Jobs is gone."
This is why Jobs was able to foster creative cultures in two very different businesses in very different fields. He "invented" the iPhone no more than he single handedly wrote and directed, and starred in Finding Nemo.
Also, Jobs was the one who at least initially panned the idea of a 7 inch tablet. The one product that even the FUD machine admits is selling well, to Apple's infinite detriment. I am fairly certain that every time a mim is sold apples angelic margins are supposed to lose a few feathers. So, Apple's new "hit" was post Jobs chronologically and perhaps philosophically, Apple's "struggling" iPhone was Jobs last, greatest contribution according to many. So the current swoon, if it is to be believed, (which seems doubtful) would be a pretty unforgiving referendum on Jobs performance and legacy.
Regarding the 7" iPad, I am always reminded of sage advice I heard very early in my business education and career:
"If you don't cannablize your own products, somebody else will."
U hum - well I sorta get your drift. Steve created a culture and mindset.
Eastern philosophy meets Bauhaus meets capitalism BUT for Steve the money was just a means to a creative end AND the accumulation of money would Allow Apple the freedom to never ever have to go to the short sighted money men again. This CULTURE definitely still lives and is inculcated at Apple and Apple people are still in love with the creative process,which sets Apple apart from other companies.
Also I have to bring you down to eart, Steve was mortal - otherwise how did his material body die - he was not a god and got it wrong on several occasions. The thing is he had some great people around him at the right time - Jonathan Ive on the design side created all the great i PRODUCTS. Oh, and he is still busily working on new stuff!!
OAO Mobile TeleSystems (MBT), Russia’s biggest mobile-phone operator, won’t offer the newest version of Apple Inc. (AAPL)’s iPhone for the first time since the handset went on sale in the country in 2008.
“We don’t have a contract with Apple currently,” said Valeria Kuzmenko, a spokeswoman for MTS, one of the two main iPhone distributors in Russia. The previous contract expired in October and the company won’t offer Apple’s iPhone 5 when the device goes on sale in Russia on Dec. 14. Kuzmenko declined to elaborate, citing a confidentiality agreement. Apple spokeswoman Irina Efremova said she couldn’t comment immediately.
http://bloom.bg/128ab6M