Revenue was light. In general, weaker than everyone expected on the top line and guidance was similarly weaker than what everyone was expecting on the top line.
Source: cnbc.com
Want to know how a stock like AAPL goes from $705 to $485 in three months for no real reason? Here’s the truth about how the market works.
Source: youtube.com
Chicken soup futures this morning.
Here’s a list of all the analysts that cover AAPL, and how close they were to getting their earnings numbers right. The ones in blue are amateurs. The ones in red are professionals. This is why I’m not in finance these days. But hey, props to Deutsche Bank for managing thirteenth.
Source: CNN
Payrolls Probably Rose in November as U.S. Economy Grew - Bloomberg
An increase in November payrolls probably pushed U.S. job gains past the 1 million mark for the year as the world’s largest economy strengthened heading into 2011, economists said before a report today.
Actually, they were up 39,000, not even enough to keep the percentage rate from increasing. Yikes.
This is how it feels to be an Apple shareholder this week.
If you haven’t heard, iPads are sold out nationwide and it’s not even out yet, and the Wall Street Journal just confirmed that iPhone 4.0 is coming in June. Just for kicks, they led everyone to believe there’ll be a Verizon and Sprint iPhone by Christmas, too. You’re welcome.
Source: thatvideogameblog.com
AppleInsider | Apple to build 8-10M iPads in 2010, begins shipping preorders
In a new note to investors, analyst Katy Huberty with Morgan Stanley said suppliers for the iPad have currently forecast 2.5 million iPads to be shipped in the first three months of availability, from March to May. In all, Apple will ship between 8 million and 10 million by the end of 2010, suppliers said — a number much higher than the previous expectation of 5 million.
My forecast was for 1.5 million by the end of the first three months, and ten million by the end of the year. I think if Huberty’s right in the short-term, then she’s shallow on the long-run number. 2.5 million should convert to ~12 million units by the end of the year. The acceleration in sales is going to be incredible once the app scene picks up and provides a torrent of compelling reasons to own the device.
Source: appleinsider.com
On Apple's $40 billion, and the question of dividends
Apple has not declared a dividend since December of 1995. After the last shareholder meeting, Steve Jobs stated that the money was best left in the bank so there would be no question of loans if something big was to be bought. “The cash in the bank gives us tremendous flexibility,” explained Steve.
That’s true, but that’s not the reason for no dividend. Dividends necessarily impact market capitalization negatively. Few things, in my mind, are as important to Mr. Jobs as Apple exceeding Microsoft in terms of market capitalization. AAPL needs to get to around $300 per share for this to happen; it’s trading at $235 today after trading as low as $78 a year ago. Jobs will do nothing to harm his ability to reach this goal, unless it’s significantly positive for the business. For example, long-term component deals, minor acquisitions and similar methods of using that warchest are fine. Simply “giving it away” to shareholders that are already seeing a gigantic yield? Never.
Source: tuaw.com
Apple has surpassed Berkshire Hathaway and is a day behind Wal-Mart. $50 Billion more to catch Microsoft, and Exxon remains in the stratosphere.
(via aaplinvestors.net)
Source: aaplinvestors.net
Realizing Money Just Symbolic Illusion, US Economy Grinds to Halt
Bernanke, who then paused for a moment, looked down at his prepared statement, and shook his head in utter disbelief. “You know what? It doesn’t matter. None of this—this so-called ‘money’—really matters at all.” “It’s just an illusion,” a wide-eyed Bernanke added as he removed bills from his wallet and slowly spread them out before him. “Just look at it: Meaningless pieces of paper with numbers printed on them. Worthless.” According to witnesses, Finance Committee members sat in thunderstruck silence for several moments until Sen. Orrin Hatch (R-UT) finally shouted out, “Oh my God, he’s right. It’s all a mirage. All of it—the money, our whole economy—it’s all a lie!”
I didn’t know The Onion was doing legit news coverage these days.
Source: The Onion
Fed Bumps Up Discount Rate
The Fed chose to bump up the so-called “discount” lending rate by one-quarter point to 0.75 percent. It takes effect Friday.
The central bank said the step should not be seen as a signal that it will soon boost interest rates for consumers and businesses. It repeated its pledge to keep such rates at record-low levels for an “extended period” to foster the economic recovery.
If the PPI today is any indication, they’ve waited far too long. At least they’re starting to move toward a rate resembling sanity.
Source: Yahoo!
The iPhone will not substantially alter the fundamental structure and challenges of the mobile industry.
Steve Ballmer’s Thoughts on iPhone, 17 January 2007. He can barely contain his laughter. I can barely contain mine.
Source: youtube.com
I’m more convinced than ever that, after an initial frenzy of publicity and sales to early adopters, iPhone sales will be unspectacular… iPhone may well become Apple’s next Newton.
Apple's Decade: How It Can Hit $500
I didn’t even read it. I just went O_o and got a little excited and moved on.
Source: thestreet.com
