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Steve Birenberg, CFA
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Steve Birenberg is founder and President of Northlake Capital Management, LLC. Northlake specializes in managing portfolios for high net worth individuals using a unique strategy combining monthly ETF rotation based on major market themes supplemented by carefully selected media and telecom... More
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Northlake Capital Management, LLC
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Media Talk
  • Impressive Close 1 comment
    Apr 6, 2009 4:01 PM | about stocks: AAPL, BBRY

    Breath Breadth stunk but I am impressed by the close.  The market seems to have a persistent bid on weakness.  Much better than prior rallies indicating the character of this rally has changed for the better. 

    Good to see APPL rise in sympathy with RIMM.  My thesis on smartphones has been that a risisng tide lifts both these boats.  The numbers on smartphone adoption are phenomenal.  I published the following on back in February:

    SNL Kagan recently published a long-term forecast for Smartphones in the U.S. At the end of 2008, smartphone subs were 52.6 million of 255.4 million total wireless subs. Kagan projects that in 2018 smartphone subs will represent 241.8 million of 316.3 million total wireless subs. Stated simply, smartphone penetration is going to rise from 33.7% to 74.4% over the next ten years.

    Stocks: AAPL, BBRY
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  • Steve Birenberg, CFA
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    Author’s reply » Thanks for the follow. The point of the excerpt above is that there is enough growth in smartphones to satisfy both AAPL and GOOG. Also RIMM comments on component costs bode well for AAPL margins. Thanks for the edit :-)
    6 Apr 2009, 08:00 PM Reply Like
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