JDSoCal
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Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Jul 19, 2015 12:10:40 GMT -8
Here's a screenshot straight from SFAS 14: More reading: www.sec.gov/rules/final/33-7620.txtApple has some discretion with reporting detail of certain products and can even document disagreement with auditors on the presentation, as they do in its Form 10K. See below for Apple's last segment presentation by product. I don't believe Apple can keep lying in the weeds with Watch if it claims 10% of sales. In fact, Tim has already conceded they may do something different with Watch reporting in the future. OK, but Apple doesn't segment by product; it segments by geographic region, eh? From 2014 10-K: In its K's, Apple breaks down net sales by operating segment (geographic region), and then it lists the net sales by product. Where is the SEC rule saying a company managed on a geographic basis has to break down individual product or service sales worldwide? By my reading of the SEC rule, Apple would have to break out Vietnam sales from "Rest of Asia Pacific" if they got to 10%, but not Watch from "Other". Microsoft manages by product/service, and here's how it breaks down its segments (from its 2013 annual report, latest available I can find): Note that "Office" is not a reported segment. I doubt anyone here would disagree that Apple is already far more transparent with product sales in its earnings than any other consumer tech company, and its use of GAAP methodology is voluntary. So why does Apple have to do be so specific? Wouldn't "mobile" and "desktop" constitute "operating segments" if Apple reported by product? Which it doesn't. Regardless, it would be nice if a single one of the dunderheads on the conference call who ask the same old boring dumb questions would bring this up to Luca to clarify the rule. I think the interesting question is not what Apple must do, but why do they want to obfuscate? Is it to hide from competitors, or from WS? WS will be able to figure out how the Watch is doing in general when "Other" gets bloated next week. But specific models and straps? Competitors are going to have to guess (ha ha, dickheads!). I think it's clear this copycat shit has bothered Tim so much that he wants to hide the ball for strategic reasons until Watch is established (i.e., dominating like iPhone in its area). By then, Apple will be 2 years ahead, vs had it given SAMEsung free marketing research with specific Watch sales breakdowns. This may sound like Captain Obvious stuff to most of you, but the meme will be that Apple is hiding sales from WS, not competitors. This is a good and smart thing. It is Apple declaring in a financial document that it is tired of the copying. But the media and WS analysts won't report it that way. I wish Tim would just say that in a conference call, "Frankly Gene, we just got tired of the shameless copying, so why should Apple help them peddle shoddy knockoffs to consumers?"
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Deleted
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Post by Deleted on Jul 19, 2015 13:32:21 GMT -8
As I said, Apple has discretion with SFAS 14 and segment reporting disclosures, the provisions of which include geographic and product lines. The analysts can't read a financial statement, let alone respect P/E ratios, so I doubt Tim could say anything to allay concerns of WS analysts who appear hellbent on putting the Watch ahead of iPhone in divining Apple's future. But yeah, telling that corner of WS that Apple can never please to "go to hell" is a start.
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Post by Red Shirted Ensign on Jul 19, 2015 14:38:13 GMT -8
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Post by CdnPhoto on Jul 19, 2015 15:05:14 GMT -8
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Post by Luckychoices on Jul 19, 2015 15:11:00 GMT -8
I really enjoy seeing analysts and tech writers take a stand and publish their strongly-held convictions no matter how improbable they may be. After seeing AAPL end the week at $129.62, yet another brave soul steps forward: Why Apple Stock Could Break $130 After Earnings by Louis Bedigian at Benzinga. What courage he displays! It's not worth a link to the article itself, but the top commenter was very succinct and on-the-money: masondixon 2 hours ago A bold outlook-- that AAPL could rise by 25 cents a share to hit $130. This same guy predicted that in 2015, there would be a divorce filed between two Hollywood stars; and he capped his bold predictions with this for 2015: somewhere in America's midwest, someone living in a trailer would be displaced by bad weather.
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Deleted
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Post by Deleted on Jul 19, 2015 15:21:00 GMT -8
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Post by Luckychoices on Jul 19, 2015 15:26:27 GMT -8
Who are these people? Cathrine Andersen works in an "innovation unit" of a big tech company but she struggled to set up and personalize the device? I'm guessing Samesung may be the company. Wolfgang thinks the Apple Watch is not even a decent watch? Apparently, we on the board who have and love our Apple Watches are tech geniuses and were not aware of it.
======================= Doubts remain over prospects of Apple Watch by Tim Bradshaw — San Francisco
Comments from early Watch customers echo that perspective. Cathrine Andersen, a Danish tech entrepreneur working in San Francisco, found her Apple Watch a “disappointment” and returned it after a week. “I work in an innovation unit of a big tech company so I’m used to trying out new things. I was really excited about the Apple Watch,” she said. But after unpacking it, she struggled to set up and personalise the device. “I felt so stupid. It was a very atypical Apple experience for me,” she said. “I expected it to work as soon as I put it on my wrist and it just didn’t.” - Cathrine Andersen, Danish tech entrepreneur
Wolfgang Blau, executive director of digital strategy at Guardian News & Media, wishes he had not bought the Apple Watch. “There were many issues around the first iPhone as well,” he wrote on Facebook. “But you could at least make a phone call with it, while the Apple Watch is not even a decent watch.”
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Post by archibaldtuttle on Jul 19, 2015 15:40:23 GMT -8
Those look amazing. I will buy them if the market treats AAPL well on Wednesday
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Deleted
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Post by Deleted on Jul 19, 2015 15:50:54 GMT -8
I'm going to sell my P7s the P5s are so great with Bluetooth.
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Mav
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Post by Mav on Jul 19, 2015 15:52:37 GMT -8
Shorter JD Post: Apple to Competition: "F*** you guys, just try and figure out Watch units and ASP if you can. You should thank us for not rolling iPad into Other Products" (that they didn't makes me wonder...)
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Post by Red Shirted Ensign on Jul 19, 2015 15:58:36 GMT -8
So I guess you are using those headphones 24/7?
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Mav
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Post by Mav on Jul 19, 2015 16:28:01 GMT -8
Slightly far out musing putting Apple's growth into a bit of perspective, plus comment on Wall Street/Apple game of "earnings chicken" and valuation questions when the perfectly normal slowing of revenue/earnings growth (percentage basis) occurs somewhere down the line, probably starting next year. Y'know, because two hundred and thirty frickin' billion (sales) and fifty-one frickin' billion (net income). And since I said far out, I must also say... mannnaapltree.wordpress.com/2015/07/19/the-miracle-of-tim-cook-earnings-chicken-and-the-normalcy-of-slowing-growth/
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Post by Red Shirted Ensign on Jul 19, 2015 18:52:37 GMT -8
I'm pretty excited about Tuesday. I don't know how forthcoming Tim and crew will be, but think about all the "stuff" there is to update or give color on for the first time:
Apple Pay, The Watch, Apple music, new Macs
And the "regular stuff"
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Deleted
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Post by Deleted on Jul 19, 2015 19:53:18 GMT -8
All Tim might say to keep the froth inside the mouths of the talking heads is something like the following: "The June quarter represented Watch's debut quarter, which was supply constrained and had a limited roll out. Further, Apple is open to disclosing more detail in the September quarter, based on our confidence in the product and similar to other products on which Apple has built its hard won success."
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Post by sponge on Jul 19, 2015 21:27:11 GMT -8
All Tim might say to keep the froth inside the mouths of the talking heads is something like the following: "The June quarter represented Watch's debut quarter, which was supply constrained and had a limited roll out. Further, Apple is open to disclosing more detail in the September quarter, based on our confidence in the product and similar to other products on which Apple has built its hard won success." That is too much information. The numbers will speak for themselves. I would expect him to say the following. " We are pleased with the release of the Apple Watch. Customers are delighted and we continue to experience a supply and demand imbalance. We are hopeful that we can ramp up supply this quarter and reach a balance.. Our guidance reflects this plan." Then in Oct he will confirm they are pleased with reaching a supply balance. He will say the Dec quarter will be the first quarter with this balance and they will now expand distribution to other retail outlets like carrier stores and Best Buy.
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Deleted
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Post by Deleted on Jul 20, 2015 6:55:31 GMT -8
So I guess you are using those headphones 24/7? Earbuds. And incidentally Red, did you know you can use your Watch to cue up your music with: "Hey Siri, play songs from Hee Haw"
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Post by Red Shirted Ensign on Jul 20, 2015 10:10:07 GMT -8
So I guess you are using those headphones 24/7? Earbuds. And incidentally Red, did you know you can use your Watch to cue up your music with: "Hey Siri, play songs from Hee Haw" Buck Owens and Roy Clark were underrated...not to mention Minnie Pearl.
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