hacker2's take on Apple Inc.
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A while ago
AAPL continues to grow even in a recession...
AAPL continues to grow even in a recession. Investors are still missing non-GAAP earnings which will eventually make it into GAAP earnings. That will justify an increased stock price.
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A while ago
With Apple earnings on deck we should see ...
With Apple earnings on deck we should see another nice quarter. We already had Intel say they thought they had see the bottom. We also got good news from AT&T about new iPhone-based subscribers. Another upside for Apple is likely to be gross margins. They notoriously low-ball their estimates and we have been in an excellent climate for procuring commodities. This should lead to margins well above projections and therefore a strong EPS for the quarter.
As usual, a big downside risk is Apple lowballing on its guidance and how the market reacts to that.
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A while ago
Intel says PC sales have bottomed, combine...
Intel says PC sales have bottomed, combined with general Apple strength this is bullish for Apple
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A while ago
With 30 million installed units Apple's mo...
With 30 million installed units Apple's mobile platform is unstoppable. The story for developers is incredible.
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A while ago
Apple should continue to do well over the ...
Apple should continue to do well over the long term but with the economy in shambles it's PE (on a GAAP) basis looks on the high side. Investors still aren't looking at non-GAAP and until they do Apple may be mired. There is probably little downside here because earnings should continue to be strong and there is a ton of cash, but it may be awhile before there is big upside.
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A while ago
We now have the December quarter's earning...
We now have the December quarter's earnings and they are great. Again missed by most is the non-GAAP EPS of $2.56/share. That is nothing short of incredible and shows this stock is way undervalued. As written before, this earnings release could be a launch pad for the stock. It appears to be the case indeed.
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A while ago
The selloff due to Steve Job's medical lea...
The selloff due to Steve Job's medical leave has been small. This means the news was essentially already priced into the stock. This is great news for the long term for Apple as an investment. It is clear that anyone who was worried about his health was already out of the stock.
Next price move will happen when earnings are announced. If they are strong with good guidance it could be a launch pad for the stock.
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A while ago
With the news of Steve Jobs taking a medic...
With the news of Steve Jobs taking a medical leave we see just how bad it can get for AAPL. Long term this is still a great company but you can expect a major selloff on the news. The stock should recover based on the fundamentals of the business, but its not at all clear how long that will take.
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A while ago
MacWorld was a huge disappointment. Steve...
MacWorld was a huge disappointment. Steve Jobs seems to be holding back the big announcements for himself, probably using a special announcement in 4-6 weeks. No surprise there. But where are the new iMacs and Mac mini for example? They probably aren't yet ready which played part of Steve withdrawing from MacWorld himself.
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A while ago
There is much speculation about the fact t...
There is much speculation about the fact that Steve Jobs will not be keynoting MacWorld in January. Apple has made it fairly clear that it thinks trade shows are a thing of the past. It has pulled out, gradually, from many of its other shows - New York, Boston, Paris, Tokyo, ...
There is nothing more to read about Apple's pullout of the San Francisco MacWorld, it's just the end of a long term strategy to pull out.
What is more interesting is that Steve will not give the keynote. Certainly he could have given the keynote as a last send off. However, this year he will let Phil Schiller give the keynote.
What does this mean? In my opinion it means the level of new product announcements isn't interesting enough for Steve. That doesn't mean there won't be any interesting announcements, just that Steve isn't very interested in them.
The conclusion, therefore, is there is nothing earthshaking coming in either the iPod or iPhone lines, which clearly are of most interest to him. However, it is likely that we will see several announcements in the Macintosh space. The iMac line is quite old and due for an upgrade, and who knows what's happening with the Mini. Look for announcements in this space where Steve is more than happy to let Phil do the talking.
What does this mean for AAPL the stock? Not much. The company is still on a financial roll and while the economy may slow growth - Apple will probably get through it better than most.
Also consider their non-GAAP financial results from fiscal Q4, where were tremendous: Adjusted Sales of $11.68 billion and Adjusted Net Income of $2.44 billion, which is $2.70/share. Yes, $2.70/share non-GAAP income. The mainstream press has still not picked this up!
Assuming Apple makes more noise about non-GAAP earnings in January that could lead to more publicity (about those earnings) and a catalyst for stock price appreciation.
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A while ago
Fiscal Q4 was tremendous. In fact, the &q...
Fiscal Q4 was tremendous. In fact, the "story" is in the Adjusted Sales of $11.68 billion and Adjusted Net Income of $2.44 billion, which is $2.70/share. Yes, $2.70/share non-GAAP income. Mainstream press has still not picked this up!