Apple (AAPL +2.1%) has become the most valuable company ever traded: its current market cap of $620.8B eclipses Microsoft's peak market cap of $618.9B, reached on Dec. 30, 1999. The milestone comes as Apple and Samsung (SSNLF.PK) each propose lengthy verdict forms for jurors presiding over their California trial to fill out. Jurors will have to decide whether each of dozens of devices infringe on an Apple or Samsung patent, with unanimous decisions being needed for a guilty verdict. (earlier) [View news story]
How dare you compare MSFT back during a BUBBLE to AAPL today. The consumer is in the best shape of his life and will continue spending.
The best comment i heard in a long time was from someone on bloomberg news radio from Wells capital i think where he stated:
The US consumer who is not earning anything in a bank account now is smart enough to know he might as well spend his money then leave it in a non interest bearing account.....i can't remember the words verbatim but it's close enough
Classic.... I wish i had a job that paid probably 500k and i could go on a national radio show and utter garbage
Apple (AAPL +1.6%) is making new highs yet again (previous) after Goldman reiterates a Conviction Buy. Commenting on recent WSJ reports (I, II) about an Apple set-top box, the firm thinks it's most likely evidence Apple plans to offer both a set-top box and a TV set. Some reasons for Apple to produce a set-top box, in spite of the cable industry's wariness: they're cheaper than TVs, have shorter upgrade cycles, and (like the iPhone) are typically subsidized. [View news story]
I can't wait to buy a iTV for 3000 so I can throw away my 55 inch samsung led i bought a few months ago for 700.
The criminal investigation into JPMorgan's (JPM) CIO trading loss turns potentially explosive after the bank informed authorities three London traders may have tried to hide losses (which led to the restating of Q1 earnings). The investigation now shifts from looking at the personal trades of those involved to one of fraud. [View news story]
JPM...Priced to make believe..just like the entire banking sector
Wells Fargo (WFC) joins the list of banks adding fees where they can to make up for fee reductions mandated by Dodd-Frank. The bank plans to implement a $5/month fee for those checking accounts not maintaining a $1,500 balance or otherwise behaving as the bank wishes them to. [View news story]
exactly, all you need to do is write a check to a new institution and close all the accounts
McDonald's (MCD -2.5%) tweets Michael Bloomberg, telling the NYC mayor that customers know how to make the best choices for themselves after Bloomberg opened the Twitter battle by calling out the large sizes of its drinks. The company has every intention of not getting lumped into the obesity debate, with its top chef noting publicly that the chain now offers salads, smoothies, and oatmeal - not to mention the ability for customers to just say no to supersizing soft drinks. [View news story]
It is a personal choice and their are a lot of mis informed . But MCD's smoothies and salad dressings are laced with the same level of high fructose corn syrup and other crap as any other item on the menu. Companies like KO, PEP, MCD, YUM have to take some responsibilty for the obesity problem in the country.
"Sell your house ... yesterday," Gary Shilling tells Bloomberg. It will take 4 years, he says, to work off still-high inventories, during which time prices could fall another 20%. Turning to Facebook: "(It's) the end of the social media boom ... reminds me of Pets.com." [View news story]
Tack
I'm being a realist. I hope you make a fortune in housing. I intend to as well. I don't know the research you have done however all the data I have examined regarding boom and bust cycles in real estate, the best time to buy has been when interest rates are high affordability is low. When rates fall and more people can afford the monthly mortgage payment, demand rises and price follows. Take a look at mortgage rates in 1997 and 2000, they were at highs. They subsequently fell and home prices exploded higher. I would appreciate if you could share what data you are looking at where rates rose as well as home values
Maybe Facebook (FB) won't prove a major boon for newspapers after all: AppData reports the Washington Post (WPO) and The Guardian have each seen dramatic falls in monthly users for their Facebook "social reader" apps, following news feed changes. Peter Kafka is pleased. "I don’t need to automatically know what my friends are reading — I only want to know about the articles they want me to read." Many users might not be crazy about sharing all of their reading activity either. [View news story]
what you mean you don't want to tell the world what your wearing, eating, dating, hanging out with, reading, vacationing, working, socializing, partying, networking ?
Henry Blodget sets a target range of $16-$24 for Facebook (FB -11%), based on a valuation of 20x-30x a 2013 EPS estimate of $0.80. Blodget's retort to those bullish due to Facebook's growth potential: Facebook has already been working on monetization for years; Mark Zuckerberg cares more about Facebook's "social mission" than its business; and the company's next billion users, weighted towards emerging markets, will be much less valuable than its first billion. (previous) [View news story]
Senior judge Karolos Papoulias has been sworn in as PM in Greece, and will head a caretaker government until new elections (expected on June 17). "There is no panic," he says of deposits exiting the banks, "but there is great fear which could turn into panic." [View news story]
No panic?....1.2 billion has left the banks yesterday alone. Lets see how long that lasts.
Sirius XM (SIRI -0.5%) isn't get much help from Howard Stern's high-profile appearance on America's Got Talent, according to Rocco Pendola. Cutting to the chase rather quickly, he says Sirius bulls who think Stern's primetime run in front of millions of 18-34 years olds will lead to a surge in Sirius XM subscribers are "delusional." Instead, they should hope for a Liberty Media takeover and an infusion of innovation - not a Howard Stern Hail Mary. [View news story]
FYI, 18-34 year olds don't have that type of disposable income to throw away after a goof ball like stern
A rogue trader scenario isn't what happened in the JPMorgan (JPM) mess, observes Dennis Gartman. It seems more likely the result of a failed hedging strategy. The problems are going to get worse too, Gartman says. "I operate under the old rule that there is never just one cockroach; when ill news comes out there is usually more ill news to follow.” [View news story]
we'll see how long Dimon is still at the realm. This is going to be a 2billion loss that turns into a 20 billion loss if not more by the time it is all said and done. The sheer problem with these institutions are there SIZE. The bigger the get the more risk they take. MORALE HAZARD to the nth degree. The real question should be how are the players on the other side of the trade and how much exposure do they have.
Ben Bernanke has warned of a federal budget facing a "massive fiscal cliff" at year's end, but equity investors are betting politicians will be able to hit the brakes before the economy falls off of it. The economic hit posed by the expiring tax cuts and spending restrictions would equal ~4% of GDP, upending forecasts for corporate revenue rising slightly faster in 2013 than this year. [View news story]
Have Equity investors learned nothing over the past several years? The politicians are the problem. They need a crisis so they can try to fix it. Borrow and spend will never go out of fashion until the system crashes
Facebook (FB) has decided it, too, wants an app store. The Facebook App Center, just announced to developers, will cover PC, iOS, Android, and mobile web apps that happen to leverage the company's services. Facebook undoubtedly hopes the App Center will boost Facebook Credits revenue via in-app purchases, though it says traditional paid apps will also be supported. [View news story]
Smells of desperation. They are so late to that party. It will be another losing endeavor
Wedbush isn't waiting for Facebook's (FB) IPO to start coverage with an Outperform and $44 PT, well above its $28-$35 IPO range. The firms says it expects Facebook to take share from both offline and online advertisers, and thinks it will make the expanded use of Facebook Credits (currently dependent on Zynga and a few other game developers) a 2012 priority. The PT is based on 22x Wedbush's FY15 (!) EPS estimate of $2. [View news story]
Wow they derived a 44 number from a mere road show during the quiet period? Those Wedbush analysts must be really smart. Let's see if i'll get some of those shares if i place a IOI for them. My guess is the crime syndicate will give me all i want
Apple (AAPL +2.1%) has become the most valuable company ever traded: its current market cap of $620.8B eclipses Microsoft's peak market cap of $618.9B, reached on Dec. 30, 1999. The milestone comes as Apple and Samsung (SSNLF.PK) each propose lengthy verdict forms for jurors presiding over their California trial to fill out. Jurors will have to decide whether each of dozens of devices infringe on an Apple or Samsung patent, with unanimous decisions being needed for a guilty verdict. (earlier) [View news story]
The best comment i heard in a long time was from someone on bloomberg news radio from Wells capital i think where he stated:
The US consumer who is not earning anything in a bank account now is smart enough to know he might as well spend his money then leave it in a non interest bearing account.....i can't remember the words verbatim but it's close enough
Classic.... I wish i had a job that paid probably 500k and i could go on a national radio show and utter garbage
Apple (AAPL +1.6%) is making new highs yet again (previous) after Goldman reiterates a Conviction Buy. Commenting on recent WSJ reports (I, II) about an Apple set-top box, the firm thinks it's most likely evidence Apple plans to offer both a set-top box and a TV set. Some reasons for Apple to produce a set-top box, in spite of the cable industry's wariness: they're cheaper than TVs, have shorter upgrade cycles, and (like the iPhone) are typically subsidized. [View news story]
The criminal investigation into JPMorgan's (JPM) CIO trading loss turns potentially explosive after the bank informed authorities three London traders may have tried to hide losses (which led to the restating of Q1 earnings). The investigation now shifts from looking at the personal trades of those involved to one of fraud. [View news story]
Wells Fargo (WFC) joins the list of banks adding fees where they can to make up for fee reductions mandated by Dodd-Frank. The bank plans to implement a $5/month fee for those checking accounts not maintaining a $1,500 balance or otherwise behaving as the bank wishes them to. [View news story]
McDonald's (MCD -2.5%) tweets Michael Bloomberg, telling the NYC mayor that customers know how to make the best choices for themselves after Bloomberg opened the Twitter battle by calling out the large sizes of its drinks. The company has every intention of not getting lumped into the obesity debate, with its top chef noting publicly that the chain now offers salads, smoothies, and oatmeal - not to mention the ability for customers to just say no to supersizing soft drinks. [View news story]
And i'm sure MO had no connection to lung cancer
May. Reuters/UofM Consumer Sentiment: 79.3 vs. 77.8 expected and 77.8 prior. [View news story]
"Sell your house ... yesterday," Gary Shilling tells Bloomberg. It will take 4 years, he says, to work off still-high inventories, during which time prices could fall another 20%. Turning to Facebook: "(It's) the end of the social media boom ... reminds me of Pets.com." [View news story]
I'm being a realist. I hope you make a fortune in housing. I intend to as well. I don't know the research you have done however all the data I have examined regarding boom and bust cycles in real estate, the best time to buy has been when interest rates are high affordability is low. When rates fall and more people can afford the monthly mortgage payment, demand rises and price follows. Take a look at mortgage rates in 1997 and 2000, they were at highs. They subsequently fell and home prices exploded higher. I would appreciate if you could share what data you are looking at where rates rose as well as home values
Maybe Facebook (FB) won't prove a major boon for newspapers after all: AppData reports the Washington Post (WPO) and The Guardian have each seen dramatic falls in monthly users for their Facebook "social reader" apps, following news feed changes. Peter Kafka is pleased. "I don’t need to automatically know what my friends are reading — I only want to know about the articles they want me to read." Many users might not be crazy about sharing all of their reading activity either. [View news story]
The User Experience
Henry Blodget sets a target range of $16-$24 for Facebook (FB -11%), based on a valuation of 20x-30x a 2013 EPS estimate of $0.80. Blodget's retort to those bullish due to Facebook's growth potential: Facebook has already been working on monetization for years; Mark Zuckerberg cares more about Facebook's "social mission" than its business; and the company's next billion users, weighted towards emerging markets, will be much less valuable than its first billion. (previous) [View news story]
Senior judge Karolos Papoulias has been sworn in as PM in Greece, and will head a caretaker government until new elections (expected on June 17). "There is no panic," he says of deposits exiting the banks, "but there is great fear which could turn into panic." [View news story]
Sirius XM (SIRI -0.5%) isn't get much help from Howard Stern's high-profile appearance on America's Got Talent, according to Rocco Pendola. Cutting to the chase rather quickly, he says Sirius bulls who think Stern's primetime run in front of millions of 18-34 years olds will lead to a surge in Sirius XM subscribers are "delusional." Instead, they should hope for a Liberty Media takeover and an infusion of innovation - not a Howard Stern Hail Mary. [View news story]
A rogue trader scenario isn't what happened in the JPMorgan (JPM) mess, observes Dennis Gartman. It seems more likely the result of a failed hedging strategy. The problems are going to get worse too, Gartman says. "I operate under the old rule that there is never just one cockroach; when ill news comes out there is usually more ill news to follow.” [View news story]
Ben Bernanke has warned of a federal budget facing a "massive fiscal cliff" at year's end, but equity investors are betting politicians will be able to hit the brakes before the economy falls off of it. The economic hit posed by the expiring tax cuts and spending restrictions would equal ~4% of GDP, upending forecasts for corporate revenue rising slightly faster in 2013 than this year. [View news story]
Facebook (FB) has decided it, too, wants an app store. The Facebook App Center, just announced to developers, will cover PC, iOS, Android, and mobile web apps that happen to leverage the company's services. Facebook undoubtedly hopes the App Center will boost Facebook Credits revenue via in-app purchases, though it says traditional paid apps will also be supported. [View news story]
Wedbush isn't waiting for Facebook's (FB) IPO to start coverage with an Outperform and $44 PT, well above its $28-$35 IPO range. The firms says it expects Facebook to take share from both offline and online advertisers, and thinks it will make the expanded use of Facebook Credits (currently dependent on Zynga and a few other game developers) a 2012 priority. The PT is based on 22x Wedbush's FY15 (!) EPS estimate of $2. [View news story]