Sell-side praises Apple, Julian Robertson doesn't


Though Peter Misek's upgrade got the most attention, Apple (AAPL +0.9%) received several other bullish sell-side notes today as well, helping shares outperform the Nasdaq by ~2%.

Cowen's Tim Arcuri, who made an Asian trip of his own, thinks Street iPhone estimates are conservative in spite of supply constraints. Arcuri sees 36M and 56M Sep. quarter and Dec. quarter shipments, respectively.

Meanwhile, Brian White says his Apple Barometer (monitors the sales of Apple-dependent Taiwanese suppliers) saw a 9%-10% M/M increase for September. That's better than 2012's 3%, though a little below an 8-year average of 11%.

More on Misek's upgrade: The Jefferies analyst sees the iPhone 6 having a 4.8" display, and expects the device will help Apple take back share from Android. He also thinks Apple's suppliers "have become far more lenient on price."

While analysts are increasingly upbeat, Julian Robertson isn't. The Tiger Management founder, whose firm liquidated its Apple position in Q1, says Steve Jobs' character makes him pessimistic about Apple's future (video).

Robertson: "How can you create a great organization of people and be that mean of a person? ... [Jobs was] one of the great geniuses of the world, but ... bad culture, bad principles."

Friday's notes

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Comments (26)
  • Rappenco
    , contributor
    Comments (696) | Send Message
     
    Note to Robertson;
    Steve Jobs passed away some time ago. Great creators and leaders have always tended to be somewhat eccentric.
    General Patton was one mean son of a bitch but a great leader in WWII.
    7 Oct 2013, 06:59 PM Reply Like
  • 2puttwo
    , contributor
    Comments (655) | Send Message
     
    Mr Robertson, Steve Jobs is a marketing genius, not a scary ghost. You better start paying attention to your wife. She keeps telling me that they are going to make a movie about her and Simon and Garfunkel is going to have another hit song. No wonder she keeps coming over, trying to get away from idiots like you. Pull your finger out of your.................ear, and start thinking like you used to. I know it's hard getting old, but the comment about Steve is getting old, unless you have alzheimer's, then go see a doctor.
    7 Oct 2013, 07:11 PM Reply Like
  • churn
    , contributor
    Comments (206) | Send Message
     
    Be nice to MR. Robertson he will be on our side eventually.
    7 Oct 2013, 07:15 PM Reply Like
  • Ted Bear
    , contributor
    Comments (700) | Send Message
     
    Well, at this point it is irrelevant. Jobs is dead. Apple hasn't had a new product in eons, which in the technology world signals the death knell as well. The only hope now is that Apple can manage somehow to out-manufacture, out market, and out finesse the rapidly cannibalizing competition.
    7 Oct 2013, 07:49 PM Reply Like
  • redponydoc
    , contributor
    Comments (356) | Send Message
     
    "eons" is 3 weeks?

     

    Wow, that's pretty demanding.
    8 Oct 2013, 05:24 AM Reply Like
  • rrosey2
    , contributor
    Comments (883) | Send Message
     
    Apple is now competing with itself.

     

    Not a bad business concept.

     

    Whether to turn in your 4s for a 5S.

     

    Whether to buy an "air" or stick with the older Mac.

     

    Mini ipad versus larger ipad.

     

    If you call that "cannibalizing", I call it "market dominance.
    7 Oct 2013, 07:59 PM Reply Like
  • brilliantblue99
    , contributor
    Comments (82) | Send Message
     
    Well said rosey2. Add to that that people around you .... Family ...friends etc are likely to follow. I have seen entire familes living with the Apple ecosystem. The more you are in this system, the harder it is to get out ...
    7 Oct 2013, 08:19 PM Reply Like
  • brilliantblue99
    , contributor
    Comments (82) | Send Message
     
    Making investment decisions on a dead person's attitude .... Good luck with that.
    Hey, your house is a great bargain but your late father who owned the house was mean.... I am not buying !!! Someone should examine your head for such statement.
    7 Oct 2013, 08:01 PM Reply Like
  • WisPokerGuy
    , contributor
    Comments (1359) | Send Message
     
    LOL. That is beautiful.
    7 Oct 2013, 08:17 PM Reply Like
  • Robert McDonald
    , contributor
    Comments (1495) | Send Message
     
    If this is indeed representative of Julian Robertson's analytical capabilty, he just convinced knowledgeable investors and company managers that he has no clue as to what makes a company successful. Even if he was returning 100% /year at the current time, with that kind of thinking, you knoe he is a flash in the pan and would eventually throw your money away based on some stupid conclusion. He is not worth one thin dime of your investment funds.
    7 Oct 2013, 08:16 PM Reply Like
  • Patent News
    , contributor
    Comments (1474) | Send Message
     
    billionaire investor has billion times more insights than many others
    7 Oct 2013, 08:19 PM Reply Like
  • BruinWrtier78
    , contributor
    Comments (95) | Send Message
     
    Only a tiny selection of companies whose founders were horrible people:
    http://bloom.bg/GJIDOX

     

    Let's not forget about the ogres through business history who stomp their competitors through any means necessary, but then try to repair their legacy through charitable foundations.

     

    Meanwhile, we need to examine the phenomena of rich old men having these dementia-like outbursts with full media attention (Welch, Eastwood, and now Robertson).
    7 Oct 2013, 08:21 PM Reply Like
  • redponydoc
    , contributor
    Comments (356) | Send Message
     
    ...don't forget Hillary (what difference does it make) Clinton.
    8 Oct 2013, 05:27 AM Reply Like
  • chiptanis
    , contributor
    Comments (22) | Send Message
     
    Nothing personal against Mr. Robertson, however, Mr. Jobs is dead... and maybe his brain is too.
    The world has to move forward and Apple is doing that... without Mr. Jobs.
    7 Oct 2013, 08:37 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11169) | Send Message
     
    JP Morgan, Rockefeller and Henry Ford were absolute angels?
    7 Oct 2013, 08:45 PM Reply Like
  • jjkiam
    , contributor
    Comments (403) | Send Message
     
    So I guess for Mr Robertson the 1st phone with
    Effective biometric security or 64 bit chip set doesn't count.
    He needs to discuss his conclusions with more technically educated staff. Steve Jobs has passed away more than 2 years ago and the company continues to grow. All the continuing predictions of Apples inevitable decline are looking pretty lame now and when the CM deal is announced then what will the naysayers complain about?
    7 Oct 2013, 08:55 PM Reply Like
  • 2puttwo
    , contributor
    Comments (655) | Send Message
     
    #deepvaluelover. Ford drove everyone crazy.
    7 Oct 2013, 09:47 PM Reply Like
  • 2puttwo
    , contributor
    Comments (655) | Send Message
     
    #deepvaluelover. Ford drove everyone crazy.
    7 Oct 2013, 09:47 PM Reply Like
  • robehifi
    , contributor
    Comments (186) | Send Message
     
    Wowwww!!!... CNBC.... TALKING BAD ABOUT APPLE!!!!....
    7 Oct 2013, 10:45 PM Reply Like
  • scott trader
    , contributor
    Comments (6951) | Send Message
     
    Misek sees a 4.8 inch Iphone 6 ..next September. hmmm where? What leads him to believe this....?
    7 Oct 2013, 10:53 PM Reply Like
  • brilliantblue99
    , contributor
    Comments (82) | Send Message
     
    May be during his recurring nightmare of a huge iphone falling on his head after he got those expected sale numbers so wrong.
    No kidding, i believe he talked to suppliers and got some info of a larger screen assembly plans ...
    7 Oct 2013, 10:58 PM Reply Like
  • scott trader
    , contributor
    Comments (6951) | Send Message
     
    I see incremental size change. Or another model but think they will stay with the size it is now. Btw the 5s is selling real well...
    8 Oct 2013, 01:13 AM Reply Like
  • ninderad
    , contributor
    Comments (52) | Send Message
     
    Steve Job has a dream and he made it happen delegating his team with ironfist.
    He passed away and his team with Tim Cook still there riding the evolution wave left by Steve Job. The team is creative and they made money. Maybe not so big margin as in the begining when they has no competition. Mr Robertson decide by himself (no advice from expert whatever, because he can do what he will with his money), to dump all his Apple stocks because he hate Steve Job as a person. Okay he is free and maybe he buy Blackberry because he like the CEO? I trust Tim Cook and his team. Wait and see 18 october (earning release).
    8 Oct 2013, 03:24 AM Reply Like
  • diaboliqueguan
    , contributor
    Comments (848) | Send Message
     
    i agree with Mr Robertson, i disliked Jobs, and didnt like any product he was involved in, made under APPL, he had too much negativity and hatred. BUT since Tim Cook took over, i grew to like this brand, his management style and as a person; i will continue to buy products without any of Jobs's fingerprints on them.
    8 Oct 2013, 04:19 AM Reply Like
  • what do I know
    , contributor
    Comments (1044) | Send Message
     
    diab.... you like Mr. Robertson and dislike Mr. Jobs, it is good for you.
    8 Oct 2013, 03:24 PM Reply Like
  • TheJokerVSTheStupid
    , contributor
    Comments (40) | Send Message
     
    If I had to do my investment decisions by sympathy to a certain ceo, i could not buy a stock at all. You dont become a ceo of a big company by being Mr. Nice Guy. Business is not about humanity, it is about getting money from your pocket into my pocket.
    8 Oct 2013, 12:12 PM Reply Like
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