"I wouldn't take QE3 off the table ever," says the Fed's James Bullard, speaking on CNBC. On the other hand, he's optimistic about the economy, seeing 3% growth possible in 2012 with unemployment falling to 7.8% by year's end. [View news story]
Apple (AAPL) roundup: 1) 9to5 Mac reports iOS 7's Jony Ive-designed UI has shed "all signs of gloss, shine, and skeumorphism." The WSJreported something similar in March. 9to5 also reports iOS 7 sports new icons, toolbars, and tab bars. 2) OS X 10.9 (Cabernet) will reportedly feature an improved Finder app and possibly iOS-like multitasking and app-pausing features. 3) ISI's Brian Marshall claims he "got cold feet" when going to buy a Galaxy S4, due to 6 years of relying on Apple's "flypaper-like" ecosystem. "In the tech industry, one of the most under-valued assets ... is the stickiness of an installed base." But he still considers a bigger iPhone a must. [View news story]
An updated / revamped operating system would be a big plus for Apple. The iPhone is great, but the user interface feels a little stale and somewhat inefficient. I'm looking forward to iOS 7 release. There is a lot of room for improvement and I hope Apple capitalizes on the opportunity.
A little more on Apple: Implied FQ2 iPhone ASP of $613, down from FQ1's $641 (was emerging markets discounting or a mix shift to older iPhones the culprit?). iPad ASP was $449, down from FQ1's $467 (shift to iPad Mini). Mac ASP of $1,378, up from FQ1's $1,359. iTunes/Software/Services revenue +30% Y/Y to $4.11B. Accessories +15% to $1.38B. R&D spend +33% Y/Y to $1.12B, SG&A +14% to $2.67B. Cash balance stood at $145B at quarter's end, up from prior $137B. AAPL resumes trading, shares are up 5.4% AH. [View news story]
Unfortunately after hours gain has dwindled to $1 (or 0.25%). Clearly not impressed.
BlackBerry (BBRY +3.8%) is off its premarket highs, but still up following mixed FQ4 results. BB10 shipments were roughly in-line with consensus. Total BlackBerry shipments -13% Q/Q and -23% Y/Y (they fell 7% Q/Q and 51% Y/Y in FQ3), and the BlackBerry sub base fell by 3M Q/Q to 76M. However, gross margin rose 970 bps Q/Q and 660 bps Y/Y to 40.1%, fueling the EPS beat. Opex +3% Q/Q and -8% Y/Y (exc. last year's goodwill charge) vs. a 36% revenue drop. Cash balance unchanged Q/Q at $2.9B. A 50% Q/Q increase in marketing spend is forecast, but BlackBerry still expects FQ1 results to be near breakeven, above a -$0.12 EPS consensus. [View news story]
If / when people start to realize the Z10 is a great smartphone (which it is), I think you'll see a lot of people move from the Android and iOS platforms to BB10. And to think the Z10 is Blackberry's first smartphone without a physical keyboard. Good things to come from Blackberry in the smartphone realm.
@red: One definition of "contraction" means shrinking. How is Apple's EPS not shrinking when you compare Q1 of this year to Q1 of last year? Diluted EPS of $13.81/share for quarter ended 12/29/12 and diluted EPS of $13.87/share for the quarter ended 12/31/11. That's considered negative growth.
About visibility: I meant Apple investors have little visibility into the future. How do you have any idea what's going to drive Apple's earnings in 5 years, let alone 3 years?
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]
Margin compression for the investor and a few extra dollars in the pocket for the consumer.
January Nonfarm Payrolls:+157K vs. consensus +160K, 196K previous (revised from 155K). Unemployment rate 7.9% vs. consensus 7.8%, 7.8% previous. [View news story]
@IT: I understand where you're coming from. Also note though that the previous two months were revised significantly higher.
"The change in total nonfarm payroll employment for November was revised from +161,000 to +247,000, and the change for December was revised from +155,000 to +196,000."
Apple (AAPL) is working on a cheaper iPhone that could launch later this year, the WSJ reports. One source says the device could resemble the regular iPhone, but "with a different, less-expensive body." The cheapest iPhone currently sold (the 8GB iPhone 4) goes for $450 unlocked, putting it out of the reach of many emerging markets buyers, as well as some prepaid buyers in developed markets. The fact low-end Android phones sell for much less (sometimes less than $150 unlocked) has done wonders for Android's international share. [View news story]
There are many that have been talked about, but I don't know for sure. I'm assuming nobody does unless they work at Apple. Did you know how big the iPhone would be before it was launched? Many people talked about the iPhone as if it would be a huge failure. Look at where it is now. All different types of tech companies have followed in Apple's footsteps due to its success. I'm offering a different perspective that I believe is reasonable. Would you disagree?
Where is the 90% decline in profits at Apple that css speaks of?
Apple And Microsoft: A Holiday Retail Study [View article]
Innovation spurs long-term profitable growth in the technology sector. Clearly Microsoft has lost its innovative touch. It's just copying other products/business models from here on out. Good luck.
The Google Maps (GOOG) iPhone app was downloaded over 10M times in its first 48 hours of availability, claims division chief Jeff Huber. Separately, Google has launched YouTube Capture, an iOS app meant to increase mobile upload activity for the video site. The app allows users to start shooting video immediately after launching, and begins uploading a file as soon as recording is finished. (previous) [View news story]
So management is never allowed to fumble, even once? They corrected the issue, apologized publicly and all is well. This was a lesson that will be good for the company because they will not want to put themselves in a similar position again.
By the way good luck shorting Apple. Let me know how that goes. Your price target is ludicrous and you haven't provided any note-worthy analysis to back it up. Why is 300s more likely than 400s now? What ground-breaking news came out in the last day or so that would lend you to believe this?
Offering bigger displays than the iPhone has helped Android gain smartphone share ... can it help tablet OEMs trying to challenge the iPad's high-end dominance? While a Microsoft insider claims a 14.6" "Surface Book" is being considered, SamMobile passes on a rumor that Samsung (SSNLF.PK) is working on a 13.3" tablet with a built-in keyboard dock. Barring hardware advances, devices of such size will get uncomfortable to hold after a while. Separately, reports are floating around that the Galaxy S IV will feature a 5" 1080p OLED display and 13MP camera. [View news story]
Personally I'm not a fan of the larger phone trend. I think the iPhone5 is a great size and there's no need to go bigger. What is the appeal of having a larger phone? Please don't say watching movies...
Apple (AAPL) announces the iPhone 5 will go on sale in China on Dec. 14, and the iPad Mini and 4th-gen regular iPad on Dec. 7. That gives Apple a little over 2 and 3 weeks, respectively, to rack up (authorized) Chinese sales of the devices in FQ1. The iPhone 5 launch was widely expected, given regulatory approval and China Telecom's (CHA) pre-orders. Separately, Apple has begun selling the iPhone 5 unlocked in the U.S. at prices ranging from $649-$849. (PR) [View news story]
That may be racchole, but people love the iPhone and Apple products and Apple is selling them like crazy. As a shareholder, I don't care what people do with the phone as long as it's selling well and profit margins are fairly stable as volume will make up for any small declines in profit margin.
Is Windows 8 making a bad situation worse for the (non-Apple) PC industry? NPD believes U.S. retail sales of Windows gear is down 21% Y/Y since Oct. 26, the day Win. 8 launched. Notebooks -24% and desktops -9%. Also, thanks to inventory-clearing and perhaps also a cautious enterprise response, Win. 8 has only made up 58% of Windows device sales since launch time, compared with 83% for Windows 7 in its first 4 weeks. 6% of Win. 8 notebook sales involved touchscreens, and ASPs rose to $477 from $433 in the year-ago period. (40M licenses) [View news story]
I agree. I have transitioned to Apple hardware and software. It's easy and reliable, unlike Microsoft.
Apple (AAPL) reverses a sizable early decline and goes flat premarket as Gene Munster says his team's checks show iPhone 5 supplies are improving, and it may be just 2-3 weeks before the phone is "consistently available to consumers." [View news story]
It's about time we see support for this stock. Even if growth and earnings slow, this stock is still attractive at these levels.
More on Jobless Claims: Today's print and releases over the next few weeks are likely to be skewed by the Hurricane. At first, says UBS' Maury Harris, the numbers will be lower as claimants are unable to file. Later, the Hurricane "will undoubtedly cause" an increase. [View news story]
@ bbro: The headline clearly states "Today's print and releases over the next few weeks are likely to be skewed by the Hurricane. At first, says UBS' Maury Harris, the numbers will be lower as claimants are unable to file. Later, the Hurricane "will undoubtedly cause" an increase." I don't admire your attempt at being a smart alec. The weekly jobless claims are still in the high 300k's no matter how you skew it.
"I wouldn't take QE3 off the table ever," says the Fed's James Bullard, speaking on CNBC. On the other hand, he's optimistic about the economy, seeing 3% growth possible in 2012 with unemployment falling to 7.8% by year's end. [View news story]
Apple (AAPL) roundup: 1) 9to5 Mac reports iOS 7's Jony Ive-designed UI has shed "all signs of gloss, shine, and skeumorphism." The WSJ reported something similar in March. 9to5 also reports iOS 7 sports new icons, toolbars, and tab bars. 2) OS X 10.9 (Cabernet) will reportedly feature an improved Finder app and possibly iOS-like multitasking and app-pausing features. 3) ISI's Brian Marshall claims he "got cold feet" when going to buy a Galaxy S4, due to 6 years of relying on Apple's "flypaper-like" ecosystem. "In the tech industry, one of the most under-valued assets ... is the stickiness of an installed base." But he still considers a bigger iPhone a must. [View news story]
A little more on Apple: Implied FQ2 iPhone ASP of $613, down from FQ1's $641 (was emerging markets discounting or a mix shift to older iPhones the culprit?). iPad ASP was $449, down from FQ1's $467 (shift to iPad Mini). Mac ASP of $1,378, up from FQ1's $1,359. iTunes/Software/Services revenue +30% Y/Y to $4.11B. Accessories +15% to $1.38B. R&D spend +33% Y/Y to $1.12B, SG&A +14% to $2.67B. Cash balance stood at $145B at quarter's end, up from prior $137B. AAPL resumes trading, shares are up 5.4% AH. [View news story]
BlackBerry (BBRY +3.8%) is off its premarket highs, but still up following mixed FQ4 results. BB10 shipments were roughly in-line with consensus. Total BlackBerry shipments -13% Q/Q and -23% Y/Y (they fell 7% Q/Q and 51% Y/Y in FQ3), and the BlackBerry sub base fell by 3M Q/Q to 76M. However, gross margin rose 970 bps Q/Q and 660 bps Y/Y to 40.1%, fueling the EPS beat. Opex +3% Q/Q and -8% Y/Y (exc. last year's goodwill charge) vs. a 36% revenue drop. Cash balance unchanged Q/Q at $2.9B. A 50% Q/Q increase in marketing spend is forecast, but BlackBerry still expects FQ1 results to be near breakeven, above a -$0.12 EPS consensus. [View news story]
Apple Is Not Worth $460 [View article]
About visibility: I meant Apple investors have little visibility into the future. How do you have any idea what's going to drive Apple's earnings in 5 years, let alone 3 years?
Clearly you disagree with me and that's fine.
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]
January Nonfarm Payrolls: +157K vs. consensus +160K, 196K previous (revised from 155K). Unemployment rate 7.9% vs. consensus 7.8%, 7.8% previous. [View news story]
"The change in total nonfarm payroll employment for November was revised from +161,000 to +247,000, and the change for December was revised from +155,000 to +196,000."
Apple (AAPL) is working on a cheaper iPhone that could launch later this year, the WSJ reports. One source says the device could resemble the regular iPhone, but "with a different, less-expensive body." The cheapest iPhone currently sold (the 8GB iPhone 4) goes for $450 unlocked, putting it out of the reach of many emerging markets buyers, as well as some prepaid buyers in developed markets. The fact low-end Android phones sell for much less (sometimes less than $150 unlocked) has done wonders for Android's international share. [View news story]
Where is the 90% decline in profits at Apple that css speaks of?
Apple And Microsoft: A Holiday Retail Study [View article]
The Google Maps (GOOG) iPhone app was downloaded over 10M times in its first 48 hours of availability, claims division chief Jeff Huber. Separately, Google has launched YouTube Capture, an iOS app meant to increase mobile upload activity for the video site. The app allows users to start shooting video immediately after launching, and begins uploading a file as soon as recording is finished. (previous) [View news story]
By the way good luck shorting Apple. Let me know how that goes. Your price target is ludicrous and you haven't provided any note-worthy analysis to back it up. Why is 300s more likely than 400s now? What ground-breaking news came out in the last day or so that would lend you to believe this?
Offering bigger displays than the iPhone has helped Android gain smartphone share ... can it help tablet OEMs trying to challenge the iPad's high-end dominance? While a Microsoft insider claims a 14.6" "Surface Book" is being considered, SamMobile passes on a rumor that Samsung (SSNLF.PK) is working on a 13.3" tablet with a built-in keyboard dock. Barring hardware advances, devices of such size will get uncomfortable to hold after a while. Separately, reports are floating around that the Galaxy S IV will feature a 5" 1080p OLED display and 13MP camera. [View news story]
Apple (AAPL) announces the iPhone 5 will go on sale in China on Dec. 14, and the iPad Mini and 4th-gen regular iPad on Dec. 7. That gives Apple a little over 2 and 3 weeks, respectively, to rack up (authorized) Chinese sales of the devices in FQ1. The iPhone 5 launch was widely expected, given regulatory approval and China Telecom's (CHA) pre-orders. Separately, Apple has begun selling the iPhone 5 unlocked in the U.S. at prices ranging from $649-$849. (PR) [View news story]
Is Windows 8 making a bad situation worse for the (non-Apple) PC industry? NPD believes U.S. retail sales of Windows gear is down 21% Y/Y since Oct. 26, the day Win. 8 launched. Notebooks -24% and desktops -9%. Also, thanks to inventory-clearing and perhaps also a cautious enterprise response, Win. 8 has only made up 58% of Windows device sales since launch time, compared with 83% for Windows 7 in its first 4 weeks. 6% of Win. 8 notebook sales involved touchscreens, and ASPs rose to $477 from $433 in the year-ago period. (40M licenses) [View news story]
Apple (AAPL) reverses a sizable early decline and goes flat premarket as Gene Munster says his team's checks show iPhone 5 supplies are improving, and it may be just 2-3 weeks before the phone is "consistently available to consumers." [View news story]
More on Jobless Claims: Today's print and releases over the next few weeks are likely to be skewed by the Hurricane. At first, says UBS' Maury Harris, the numbers will be lower as claimants are unable to file. Later, the Hurricane "will undoubtedly cause" an increase. [View news story]