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Analyst still down on Apple, and why the iPod market might not be saturated
Apple announced stellar earnings this week, but one analyst remained unimpressed. Last week, RBC analyst Mike Abramsky downgraded Apple to an “Underperform” rating and lowered his price target for the stock down to $70. Surprisingly, though, Abramsky’s view of Apple didn’t change much, if at all, following Apple’s earnings conference call earlier this week. Abramsky […]
Continue reading...Putting Apple’s quarter in perspective
22. January 2009
Yesterday, Apple reported record revenues and profits, an impressive feat by itself, but even more so in today’s tough economic climate. It’s even more impressive when you take a look at how some of the other big name companies fared this past quarter. Sony is expecting a loss of $3 Billion for the year Microsoft […]
Continue reading...Microsoft lays off 5,000 workers
22. January 2009
Bloomberg is reporting that Microsoft will be laying off as many as 5,000 employees in effort to save money in this tough economic climate. Notably, this is the first time that Microsoft has resorted to company wide firings. The reductions, about 5 percent of the workforce, will take place in almost all areas and help […]
Continue reading...Apple obliterates estimates, sells 22.7 million iPods, reports record revenue
21. January 2009
Apple today released its earnings for its last fiscal quarter, and investors have a lot to cheer about. Apple completely surpassed Wall St. expectations and reported record revenue of $10.17 billion and earnings per share of $1.78. Net profits for the quarter came in at $1.61 billion, another record for Apple. The general consensus among analysts was that […]
Continue reading...iPhone Accounting – Why Apple got it right
21. January 2009
Andy Zaky has an interesting article up over at Bullish Cross where he argues that by accounting for the purchase price of an iPhone over the course of 24 months, Apple is shooting itself in the foot as investors and analysts won’t fully appreciate Apple’s financials. The underlying problem with the subscription method of accounting […]
Continue reading...Apple shares hit new 2 year low
20. January 2009
Shares of Apple stock closed down today at $78.20, representing the stocks lowest trading price in just over two years. Last year at this time, Apple was trading at $192 a share before weaker than expected earnings forecasts brought the stock back down to earth in early 2008. Since hitting an all-time high of […]
Continue reading...RBC downgrades Apple with $70 price target
18. January 2009
RBC analyst Mike Bramsky downgraded Apple to an “Underperform” rating, and lowered his target price for the company to $70, down from an initial target of $125. In explaining his decision, Bramsky argued that current economic conditions are affecting the extent of consumer purchases in electronic devices. He also expressed doubt about Apple’s future given […]
Continue reading...J.P. Morgan analyst lowers Apple’s 2009 earnings estimate
14. January 2009
An analyst at J.P. Morgan cut his 2009 Apple estimates to $4.75 a share on $34.7 billion in sales, down from his initial estimate of $4.86 a share on sales of $35.6 billion. Consensus estimates for Apple 2009 are $5.05 a share on sales of $36.2 billion. In other financial related news, Apple is set […]
Continue reading...Dan Lyons gets paid to write for Newsweek?! Pt. III
11. January 2009
Newsweek columnist Dan Lyons is up to his old tricks again with a new article about Apple that is more about tabloid-esque personal attacks against Steve Jobs than actual substantive reporting. I’m not a tech-industry insider, so I can’t shed any light on why Dan Lyons seems to have a personal vendetta against Steve Jobs, […]
Continue reading...Kevin Rose sells all of his Apple Stock citing health of Steve Jobs
30. December 2008
Digg founder Kevin Rose announced on his twitter page that he just sold all of his shares in Apple stock due to rumors of Jobs failing health. Wow. This rumor about Steve Jobs health from Gizmodo sure is getting a lot of traction. It’s already been picked up by some more mainstream news outlets, and it […]
Continue reading...Rumor: Steve Jobs’ declining health one of the reasons Apple pulled out of MacWorld? We call B.S
30. December 2008
Normally we don’t publish sensationalist rumors about the health of Steve Jobs, but Gizmodo is reporting that one of their solid sources has told them that Apple hasn’t been 100% forthcoming as to why Jobs isn’t speaking at the keynote this year. Steves health is rapidly declining. Apple is choosing to remove the hype factor […]
Continue reading...Analyst downgrades Apple Stock and withholds price target until he gets more information about Jobs’ health
17. December 2008
CNN reports that an analyst at Oppenheimer & Co. not only downgraded Apple’s stock, but is withholding a price target for the stock until he finds out more information about the health of Steve Jobs. This sums up to a tee why Apple made the right move in leaving Macworld, and why Steve Jobs astutley […]
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23. January 2009
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