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Arthur Fisher

Arthur Fisher
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  • Is Apple More Vulnerable Than Microsoft To Trends In Mobile? Probably [View article]
    It is indeed time to buy Apple again.
    Jul 31, 2015. 02:20 PM | 2 Likes Like |Link to Comment
  • Buying Apple: Consider The Scale Of The Potential Investment [View article]
    Nonsense.
    Jul 23, 2015. 12:23 PM | 5 Likes Like |Link to Comment
  • Is Apple Cheating On The Dividends? [View article]
    Apple already pays a respectable dividend. That's all that it needs to do. Beyond that, buy back the stock. Anything else is just pandering to piddling interests. The policy is and has been clear. It is consistent with that of many top-tier companies. Apple has made you rich, and if you sit back down and be quiet, it will make you a lot richer.
    Mar 20, 2015. 11:51 AM | 11 Likes Like |Link to Comment
  • Apple: Dear iPhone 6, Meet Desay Mirror X5 [View article]
    And particularly, against American success.
    Jan 15, 2015. 12:27 PM | 3 Likes Like |Link to Comment
  • The Future Of Apple Pay [View article]
    Credit card interest rates. Yes! Sounds like the makings of a pretty good ROI. The law of large numbers will eventually slow Apple's growth in devices. Apple has been super-restrained in avoiding the strategic error of running off in all directions. The cash is there and will continue to accumulate; they don't get much of a return on it now, except through repurchasing stock, which is excellent. Jobs was something of a Scrooge McDuck; he just liked the feel of a cash hoard. "Credit risk" should not spook stockholders; it's really a matter for statisticians and subsequent adjustments in pricing, as with underwriting insurance.
    Nov 7, 2014. 05:06 AM | Likes Like |Link to Comment
  • The Future Of Apple Pay [View article]
    Excellent article, particularly for the long-term perspective. I am now a follower. I have always thought that the ultimately best purpose of the Apple cash hoard would be to finance its customers. You don't discuss the credit-granting aspect available this way, but clearly financing its own customers is small potatoes compared to financing everybody's customers. Unlike a manufacturer who sells a product in a box and then has to look for a way to sell another one, this step into credit financing would institutionalize a recurrent income stream with a very broad base.

    I met Sandy Robertson when he left Smith-Barney to form the firm. I respect both where you've been and the direction that you have taken. Like my brother on his perch above Half Moon Bay, you can probably see more clearly from your farmhouse.
    Nov 6, 2014. 10:25 PM | 1 Like Like |Link to Comment
  • Update: Apple's Mac Produces Incredible Growth [View article]
    You do recall that a year ago people were predicting the slow death of Apple simply because they apparently were refusing to increase the size of the iphone? Apple isn't a fashion apparel retailer. They make carefully meditated, carefully designed changes on a massive scale, and they try never to telegraph anything. These updated tablets are the iphone 5 of this turn, a profitable side-step. You don't think that while debuting the 5, they weren't designing the 6?? Bizarre. My guess is that the "productivity, enterprise tablet" is already under design, not yet visible on the horizon but not far away. Stay tuned.
    Oct 22, 2014. 03:02 PM | 1 Like Like |Link to Comment
  • Apple's Additional Upside Isn't Obvious [View article]
    I have said before: the future of Apple, both the enterprise and the stock, depends on how much money they make in the next 24 months (A LOT, for sure!) and what they then choose to do with it. At that point maybe the interests of the enterprise (size, products) and the interests of shareholders (cash, #shares, share price) may come into conflict, but not for a good while yet. So far, Apple management has shown great skill in balancing those interests. Meanwhile the Chinese are busy tying Samsung's shoelaces together, and that process has a good run ahead of it. Samsung is far ahead of any Chinese manufacturer in marketing to Europe, but the Chinese will catch up. And they will try to climb up Apple's tree too, and maybe they can or maybe they cannot, but anyway not soon.
    Oct 9, 2014. 04:32 PM | 1 Like Like |Link to Comment
  • Is Apple Stalled On iPhone 6 Release? [View article]
    Yes, exactly. "The only two questions that matter" right now are (1) how much money will they make?, and (2) what will they do with the money?
    Sep 22, 2014. 11:31 PM | Likes Like |Link to Comment
  • China Falls Off iPhone 6 Launch Map [View article]
    Small potatoes so far. The risk is that these "tests" themselves become an arena for faultfinding and a more extended delay. Some weird tug-of-war behind the Red Curtain. To paraphrase a line from David Dibnik: "For Americans power means being able to do whatever you want, while [in much of the rest of the world] it means being able to prevent others from doing what they want."
    Sep 15, 2014. 03:08 PM | 3 Likes Like |Link to Comment
  • MarketWatch: 'Chinese Government Will Do Everything To Stop Apple' [View article]
    In Europe there are two very different markets, like everywhere else: the premier market and the cheap-phone market. In Spain, where I am with family for part of each year, Samsung greatly outshines Apple due to two things: (1) very much more aggressive advertising, and (2) the fact that reviews in the major daily newspapers and their websites invariably praise every Samsung product and seldom mention Apple at all. Bizarre. You don't suppose.....?
    Sep 8, 2014. 05:41 PM | 1 Like Like |Link to Comment
  • Momentum Will Push Apple To $105 By Year-End [View article]
    It's all the guys who sold before,
    Still stuck in their revolving door.
    They're out; they're in.
    They never win.
    So we get rich while they grow poor.
    Jul 11, 2014. 05:03 PM | 5 Likes Like |Link to Comment
  • Apple: The Party Is Over; Initiating With A Bearish View [View article]
    Generally I feel better about contributors who sign their names, post their pictures, and clarify their profiles.
    Jul 10, 2014. 02:13 AM | 5 Likes Like |Link to Comment
  • Apple: Why The Cash Issue Is So Important [View article]
    The yield on Apple's idle cash is unacceptably low, as if Jobs just hadn't wanted to think about it. One obvious answer would be a partial consumer financing of the purchase of their pricey products, as does Ford. Maybe not in the US, but in the long run Apple needs a much bigger footprint in Europe and in China than it has been able to establish to date. Everyone knows that the purchase of a first Apple product is often a stepping stone to subsequent purchases of other Apple products. Helping to finance those initial purchases would drive that wedge much faster, and meanwhile the yield on that cash so invested would be much higher.
    Jul 8, 2014. 02:09 AM | 9 Likes Like |Link to Comment
  • Raising My 2014 Apple Price Target To $101.28: $223 Billion In Sales For Fiscal Year 2015 [View article]
    "Not worth $ 530.00," didn't you tell us? Some steadfast believer. How do you get away with it?
    Jun 11, 2014. 08:57 AM | 1 Like Like |Link to Comment
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