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  • Fifth generation of Apple TV to bring 4K compatibility, little else - report

    There is a lot more to offering a "very good" 4K streaming capability than ability to output a 4K resolution.  Just because it is technically possible to output 2160p doesn't mean the h/w could do 4K streaming services, requiring features like
    - 4K@60fps
    - HDR
    - HDMI 2.0
    - HDCP 2.2
    - Next generation codec (e.g. HEVC/H.265) to enable a high quality stream to be delivered at a bitrate that reasonable for a large number of broadband connections (a good quality 1080p@60fps stream encoded with H.264 takes about 10Mbps - 4K would be about 4 times that).  To get to sub 20Mbps with a high quality 4K@60fps takes the next generation codecs.  The royalty issues here have not yet been fully addressed, but maybe enough for Apple to take the plunge.
    - Content

    So, doing "4K right" is a big h/w feature set.  One would assume that this means updated SoC and related internals, and perhaps more storage at each tier to support 4K graphics games.  

    Other than an updated Siri Remote (which I agree with - and why not something cool like induction charging on top of ATV with magnetic attachment ala Apple Watch style...), what other features are people wanting, given that this device is clearly not going to be a cable/satellite STB, not contain a HDD for recording live OTA TV, etc?

    kevin keeSoli
  • Apple stock hits all-time high of $133.29, market capitalization approaching $700 billion

    sog35 said:
    All time high?

    Did time begin last year?

    Because I seem to remember a high around 134 and 1/2. About two years ago. 
    All time high Close (price at end of day)

    $700 billion is impressive. But if you take out Net Cash its actually worth less than Google.
    Actually, not if you do the same with Alphabet.  Apple's net cash is ~$150B ($246B-$90B debt with a bit of rounding down).  So Apple's value - net cash is ~$547B.  Alphabet's valuation is $575B, but they have ~$80B net cash, so Alphabet - net cash =~ $495B.

    Of course, one is doing it with a P/E of 16, and the other a P/E of 30...(P/E's not calculated excluding cash).

  • Apple's Q1 iPhone numbers knock Samsung out of first place in global marketshare

    I was going to respond to one of the trolls there, but seems post was removed.

    Anyhow, if you want to compare profitability, then based on a Forbes view from mid 2016 (based on 2015 year results):
    - Apple: $233B in sales, $53.7B in profits
    - Samsung Electronics: $177B in sales, $16.5B in profits (this is of course the year before the Note 7 debacle).

    Apple is the most profitable company in the world by total absolute profits (when looking at a single company - Vodafone Group based in the UK with controlling stake in dozens of telecommunications companies - if you consider the profits from all Vodafone operating companies around the globe with VF Group then it is the largest, and Apple is #2 in this case).

    For comparison, in 2015 Google (Alphabet) had $16.3B in net profit.  Facebook at $3.6B profit in 2015.  Both of those businesses of course are growing faster than Apple, but the growth rates are slowing down.

    Apple is the big dog on the block, but to listen to most of the media-blog-o-sphere, you would think they are getting kicked by just about anyone that walks by...
  • Apple iPad decline continues with 19 percent drop in holiday quarter

    In comments during an investor conference call on Tuesday, CFO Luca Maestri said sales were higher than expected, noting iPad captured 85 percent of the market for tablets costing more than $200. The company's earnings release further touted satisfaction and business adoption in a subsequent conference call.
    This comment is actually the most interesting info. I would have easily believed 85% of say over $400 or $500, but over $200??!!  So there really isn't a tablet market - just an iPad market - with a low end video / game device and toy market. 
    tallest skilradarthekatwatto_cobraRayz2016dedgeckonetmagecalialbegarc
  • Earnings preview: Wall Street expects record $77.4B revenue in Apple's best quarter in his...

    gatorguy said:
    jungmark said:
    Odd. Haven't these analyst been saying the new MacBook Pros are failures? The watch isn't a hit? iPhone orders are being cut left and right?
    I think it's primarily just the few that get mentioned here because they're odd-out and "news-worthy" (!). Most analysts are reportedly expecting a return to growth. Relying on a few spotty articles as a judgment of Wall Street expectations isn't likely to give an accurate picture. For the most part Wall Street trusts what Apple says in forward-looking statements and a return to traditional growth is what Apple had said to expect this quarter. 
    It is true that for the most part, most analysts are positive about Apple in their views regarding iPhone having growth remaining, revenue growing, etc.  And Wall Street does have confidence in Apple's projections.  It is the media - mostly tech media & bloggers, but more mainstream sources as well - that publish the "Apple is forever doomed" articles.  

    Wall Street gets the criticism regarding how they value Apple relative to almost every other company.  Apple's PE ratio a short time ago was in the single digits ex-cash (it is probably about 10 now), whereas the S&P 500 average PE is about 17-18.  Proctor and Gamble, the number one consumer staples company (a hot bed of innovation:) has a PE of 15-16.  Walmart has a PE of 14-15.  These companies sales growth rate over the last 5 years (or even last 2-3) have not been as high as Apple's, and yet they are valued much higher.

    Given Apple's return of capital (buybacks and dividends), and a PE of 10 (ex-cash), Apple is being valued as though it will be gone in a little over decade.  Not as though they are the premium consumer tech company which is growing sales, maintaining margins, building a product-attached-services business, and introducing new product categories which have some reasonable growth potential.

    If Apple was valued like Walmart, they would be a trillion dollar company.  Which, as per Horace Dediu, is about what iOS devices have generated as an ecosystem for Apple since the iPhone was introduced.