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nfultz1

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  • More on Verizon's (VZ) Q1: Wireless revenue was up 6.8% Y/Y to $19.5B with both retail and service sales strong. The company says it had 98.9M retail connections, up 6.4% from a year ago. A mark of 4M iPhone activations topped estimates. On the wireline side, Verizon reports 188K FiOS Internet and 169K FiOS Video net additions as FiOS revenue rose 15.1% to $2.6B. VZ +1.9% premarket. (PR[View news story]
    Is that 4M iPhone activations the same as sales? 4M iPhone sales would be about 800K more iPhones than the 2012 Q1.
    Apr 18, 2013. 09:02 AM | Likes Like |Link to Comment
  • Apple Does Not Have $137 Billion In Cash [View article]
    This seems to be a common misunderstanding. As the article states, the taxes have been accounted for from an income statement perspective (they have already been expensed) From a balance sheet perspective they are in a liabilities account because it represents money they owe but haven't paid. The cash balance is the cash balance. From an accounting standpoint it has to be. The cash balance must be reconciled with the sum balance of all accounts it's held in.
    Mar 5, 2013. 01:36 PM | Likes Like |Link to Comment
  • Greenlight Capital/David Einhorn has dropped its lawsuit  over Apple's (AAPL -1.6%) Prop. 2, in response to the company's decision to withdraw the proposal and its bundled changes (in the wake of an injunction) prior to Wednesday's shareholder meeting. Apple insisted at the meeting it remains committed to giving shareholders the right to vote on the issuing of preferred stock. [View news story]
    "if you have an iphone , you are not going to buy another one."

    I'm not sure where you get that from. Most surveys show that 90%+ of iPhone owners plan on purchasing an iPhone for their next phone. In the US, most cell phone users upgrade every two years. Also, iPhone sales are growing. They sold more phones last quarter than ever before, and suppliers were cutting orders then too. They just didn't sell as many as analysts estimated. Also, there are concerns of increased competition, but I don't think there is any evidence yet that the market is saturated.
    Mar 1, 2013. 05:51 PM | Likes Like |Link to Comment
  • Greenlight Capital/David Einhorn has dropped its lawsuit  over Apple's (AAPL -1.6%) Prop. 2, in response to the company's decision to withdraw the proposal and its bundled changes (in the wake of an injunction) prior to Wednesday's shareholder meeting. Apple insisted at the meeting it remains committed to giving shareholders the right to vote on the issuing of preferred stock. [View news story]
    Share price is relative to outstanding shares. Google might reach a $1,000 price, but it has nowhere near the valuation of Apple. Also, EPS is relative to shares. So even if Google has the same EPS as Apple, their actual earnings are much lower. That's why, theoretically, Google has a better chance of growing, and is warranted a higher P/E ratio.
    Mar 1, 2013. 05:44 PM | Likes Like |Link to Comment
  • Apple (AAPL -0.9%) roundup: 1) David Einhorn has scheduled a 2PM ET call to discuss his preferred stock proposal (webcast). Ahead of the call, he asserts the proposal is "a lot better" than a standard dividend or buyback hike. 2) As iWatch rumors grow, AppleInsider uncovers an Apple patent for a watch with a flexible touchscreen and a spring that allows it to conform to a user's wrist. 3) AU Optronics (AUO) has reportedly resolved its iPad Mini panel yield issues, and is working on the next-gen version. It might not be a coincidence the Mini is now listed as "in stock" on Apple's site. [View news story]
    So you are in favor of shareholders not having a say in the issuing of preferred shares?

    Proposal 2 has nothing to do with Einhorn's proposal to issue preferred shares and everything to do with not having to get the shareholder's approval to do so. I'm not sure he really has the shareholders' best in mind.
    Feb 21, 2013. 02:39 PM | Likes Like |Link to Comment
  • Apple (AAPL) has slashed prices for three 13" MacBook models. The price of the 13" retina MacBook Pro with 128GB SSD has been cut by $200 to $1,499, and the 256GB model by $300 to $1,699. Meanwhile, the 13" MacBook Air with 256GB SSD has been cut by $100 to $1,399. Apple's 15" retina MacBook Pro models remain priced at $2,199 and $2,799, but both have been given faster Intel Core i7 CPUs, and the costlier model now sports twice as much RAM. The moves follow a quarter where Mac shipments fell 22% Y/Y, and revenue 16%. (PR[View news story]
    Keep in mind that these models were introduced at a higher price point than previous models. Was that margin expansion? Probably not. So if they had higher costs, where did those cost increases come from? As you pointed out, aluminum is roughly the same, and the labor rate is likely the same. The difference was likely the cost of the screen and additional labor time in producing it. While I'm not arguing that the incremental cost of the retina display is now on par with the older displays, I would also point out that the price point is still higher than the standard display MBP.

    It would seem to me that there is good evidence that the incremental cost of the retina display is possibly falling, and Apple is taking advantage of it to spur more demand.
    Feb 13, 2013. 08:36 PM | Likes Like |Link to Comment
  • Verizon Wireless (VZ, VOD) says it expect to report 9.8M smartphone activations, "with a higher mix of Apple smartphones," for Q4. That figure is up 29% from the 7.7M smartphones activated a year ago, and 44% from the 6.8M activated in Q3 (46% of them were iPhones). Verizon's Y/Y growth rate is easily above that of AT&T (T - previous), which is more iPhone-dependent, but its Q/Q rate is slower. The smartphone sales, together with strong indirect channel growth, will lead to a slight Y/Y drop in EBITDA service margin. VZ -0.5%. AAPL -0.7%. (CEO remarks: I, II) Update: Verizon PR tells Seeking Alpha the iPhone mix was higher relative to both Q3 (46% of smartphone sales) and Q4 2011 (56%). [View news story]
    So that means at least 1 million more iPhones were sold by VZ Y/Y.
    Jan 9, 2013. 05:52 PM | Likes Like |Link to Comment
  • Verizon Wireless (VZ, VOD) says it expect to report 9.8M smartphone activations, "with a higher mix of Apple smartphones," for Q4. That figure is up 29% from the 7.7M smartphones activated a year ago, and 44% from the 6.8M activated in Q3 (46% of them were iPhones). Verizon's Y/Y growth rate is easily above that of AT&T (T - previous), which is more iPhone-dependent, but its Q/Q rate is slower. The smartphone sales, together with strong indirect channel growth, will lead to a slight Y/Y drop in EBITDA service margin. VZ -0.5%. AAPL -0.7%. (CEO remarks: I, II) Update: Verizon PR tells Seeking Alpha the iPhone mix was higher relative to both Q3 (46% of smartphone sales) and Q4 2011 (56%). [View news story]
    I did wonder the same thing. It would be good to get clarification from Verizon. Thank you.
    Jan 9, 2013. 01:56 PM | Likes Like |Link to Comment
  • Verizon Wireless (VZ, VOD) says it expect to report 9.8M smartphone activations, "with a higher mix of Apple smartphones," for Q4. That figure is up 29% from the 7.7M smartphones activated a year ago, and 44% from the 6.8M activated in Q3 (46% of them were iPhones). Verizon's Y/Y growth rate is easily above that of AT&T (T - previous), which is more iPhone-dependent, but its Q/Q rate is slower. The smartphone sales, together with strong indirect channel growth, will lead to a slight Y/Y drop in EBITDA service margin. VZ -0.5%. AAPL -0.7%. (CEO remarks: I, II) Update: Verizon PR tells Seeking Alpha the iPhone mix was higher relative to both Q3 (46% of smartphone sales) and Q4 2011 (56%). [View news story]
    "with a higher mix of Apple smartphones,"

    That would imply at least 51% iPhones, which would represent about 700K more iPhones. If they sold 56% iPhones as they did in 2011 it would be over 1 million. That's why I said "roughly 1 million more."
    Jan 9, 2013. 11:05 AM | Likes Like |Link to Comment
  • Verizon Wireless (VZ, VOD) says it expect to report 9.8M smartphone activations, "with a higher mix of Apple smartphones," for Q4. That figure is up 29% from the 7.7M smartphones activated a year ago, and 44% from the 6.8M activated in Q3 (46% of them were iPhones). Verizon's Y/Y growth rate is easily above that of AT&T (T - previous), which is more iPhone-dependent, but its Q/Q rate is slower. The smartphone sales, together with strong indirect channel growth, will lead to a slight Y/Y drop in EBITDA service margin. VZ -0.5%. AAPL -0.7%. (CEO remarks: I, II) Update: Verizon PR tells Seeking Alpha the iPhone mix was higher relative to both Q3 (46% of smartphone sales) and Q4 2011 (56%). [View news story]
    That's roughly 1 million more iPhones this year versus the same quarter last year.
    Jan 9, 2013. 09:45 AM | Likes Like |Link to Comment
  • AT&T announces the sale of more than 10M smartphones in Q4 vs. 9.4M a year ago. "This included best-ever quarterly sales of Android and Apple smartphones." This would suggest Q4 iPhone sales in the 7M-8M range, says BI's Jay Yarow. AAPL +1%, T -1.3% premarket. (PR[View news story]
    "This included best-ever quarterly sales of Android and Apple smartphones."

    T sold 7.6 million iPhones in the same quarter in 2011. So the number has to be closer to 8 million than 7.
    Jan 8, 2013. 09:22 AM | Likes Like |Link to Comment
  • AT&T announces the sale of more than 10M smartphones in Q4 vs. 9.4M a year ago. "This included best-ever quarterly sales of Android and Apple smartphones." This would suggest Q4 iPhone sales in the 7M-8M range, says BI's Jay Yarow. AAPL +1%, T -1.3% premarket. (PR[View news story]
    AT&T Sold 7.6 million iPhones in 2011 Q4. This says they sold even more this quarter. That puts iPhone sales closer to 8 million at a minimum. It could be a little over 8 million if the mix of Android and Apple stayed the same. (81% Apple in 2011.)

    http://bit.ly/UyeeDt
    Jan 8, 2013. 09:13 AM | Likes Like |Link to Comment
  • Baidu (BIDU) is partnering with Lenovo, now China's #2 smartphone vendor (per IDC), to offer the LePhone A586, a $158 device running on Baidu's Android-based OS. The A586 sports a 4.5" display and dual-core Qualcomm Snapdragon processor, and supports Baidu's cloud services. It's the kind of product Baidu needs to see more of as it works to improve its mobile search share and ad sales, and is also the kind that has fueled Android's Chinese share gains - the 16GB iPhone 5 sells for over 4x as much unlocked. (other partnerships[View news story]
    I don't follow BIDU, but after just a quick look at their earnings and price chart they could be bottoming out soon. Their earnings have been growing nicely over the past year (+88% Y/Y). As long as they continue to grow Y/Y, I would hold.

    Their P/E is 20 vs their industry average of 19. Buying more here to average your cost down would not be a bad idea. If the P/E falls to 19 or lower, I would definitely buy more. If earnings grow at just 50% next year and they have the same P/E of 20, the price would be $133.50.

    I definitely wouldn't sell unless earnings growth began to stall. Otherwise it's only a matter of time before this will be worth a lot more.
    Dec 7, 2012. 09:03 AM | Likes Like |Link to Comment
  • This Pandora Rally Screams Caution [View article]
    An options play on volatility would be an excellent play before earnings. This much movement prior to earnings is a definite set-up for volatility after earnings.
    Nov 29, 2012. 01:26 PM | Likes Like |Link to Comment
  • Oct New Home Sales: 368K vs. 387K expected, 369K prior (revised). [View news story]
    Do you have mix of those indicators that determines your overall view of the possibility of a recession? For example, 8 negative, 8 positive is hold or sell. Or is it a weighted system where some indicators are weighted heavier than others?
    Nov 28, 2012. 03:26 PM | Likes Like |Link to Comment
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