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An army of lobbyists supported by tech giants Google (
), Apple (
), Cisco (
), and other tech giants
in DC with a singular goal in mind: create a tax holiday for $1T in profits sitting offshore. Though
a repatriation holiday will help regenerate the economy, studies indicate the biggest effect from previous tax breaks is less dramatic...more stock buybacks.
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This is moral hazard of the worst kind...all it would do is further incentivize companies to offshore jobs, if every 5 or 10 years they can bring the profits back tax-free. The repatriation should be at a 15% tax rate and the money should go to an infrastructure fund. No way should they be rewarded for destroying the middle class and further enriching the top 1% that owns most of their shares.
Oct 1, 2011. 06:47 PM
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Note to Apple Fans: Stop Talking About Value
Short-term movement in a stock can be accounted for by any number of temporary factors, including technical factors and the momentum crowd going elsewhere for the time being (as was noted above), but the company's actual earnings are what matters and the iPad is selling so well, Apple can't keep it in stock, they are opening more stores in more countries every quarter and those stores have the highest sales dollar per square foot of any retailer in the country (more than Tiffany's).
Additionally, summer is not a great time for the stock; it moves more in the fall. The stock goes much higher -- 380 to 400 by yearend -- just on earnings and could additionally pop from a stock split. Congratulations on being right now, but your long-term argument betrays no understanding of how a growth stock with all its growth components still intact will perform. Apple is the dominant innovator and dominant operator in three different markets with Apple TV as a future possibility. The stock will be up big-time over just the next few years.
Jun 21, 2011. 02:23 PM
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