chinacat
Moderator
AAPL Long since 2006
Posts: 4,429
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Post by chinacat on Apr 19, 2018 6:30:36 GMT -8
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Post by gtrplyr on Apr 19, 2018 7:06:23 GMT -8
Thanks for opening the thread chinacat.
I agree with your May Day statement, Apple has the ability to financially engineer this stock to ATH with great ease.
Once again, people are using suppliers to draw conclusions which may or may not be true , Tim Cook has warned WS specifically that it's not possible to analyze Apple's business with limited supply chain data. It's groundhog day for us longs.
Apple is doomed.
Cheers to the longs.
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Post by sponge on Apr 19, 2018 7:24:17 GMT -8
This follows the same pattern I saw last June and Sept. after a big 9% selloff, the stock recovers and then drops again before earnings.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Apr 19, 2018 7:25:08 GMT -8
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ono
Member
compensation
Posts: 537
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Post by ono on Apr 19, 2018 8:24:18 GMT -8
This recap assigns blame more to crypto chips...
A major Asian chip manufacturer cut its revenue forecast for the year, citing uncertainty in cryptocurrency "mining" demand as a factor.
Taiwan Semiconductor Manufacturing, or TSMC, is the largest semiconductor foundry company in the world. Bernstein analysts estimate the majority of demand for TSMC's special cryptocurrency mining chips comes from Bitmain, a secretive Chinese company that has become the industry leader for selling hardware to create bitcoins by mining.
"We forecast TSMC's 2018 revenue in U.S. dollar will be about 10 percent, rather than the previously indicated 10 percent to 15 percent, due to the smartphone weakness and the uncertainty in cryptocurrency mining demand," C.C. Wei, co-chief executive officer and president, said Thursday, according to a FactSet transcript of the company's earnings call.
In addition to key smartphone components, the Taiwanese company makes chips designed to perform calculations needed to verify cryptocurrency transactions in a process known as "mining." In return for solving complex mathematical equations, miners receive bitcoin, which was trading near $8,200 Thursday, according to CoinDesk.
Just as Wall Street tends to watch semiconductor stocks as an indicator of Apple iPhone demand, the chipmaker industry may also signal how last year's euphoria around cryptocurrencies could be fading.
First quarter demand from cryptocurrency mining was strong and could continue in the second quarter, TSMC said Thursday. But the company said it could see some weaker demand in the 28-nanometer product line used for cryptocurrency mining hardware.
Morgan Stanley estimates that about 10 percent of Taiwan Semiconductor's revenue now depends on cryptocurrency mining demand. If bitcoin's price were to drop, that could cut further into TSMC's lowered revenue forecast, equity analyst Charlie Chan and his team said in a note Thursday.
"Even if the Bitcoin price stays the same in 2H18, we believe mining profits would drop rapidly, according to our simulation," the report said.
Bitcoin has been volatile this year, and has lost more than half its value since the cryptocurrency reached a high above $19,000 in December. Its price has remained in a trading range this year amid regulatory uncertainty and tax-related selling.
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Post by gtrplyr on Apr 19, 2018 9:07:49 GMT -8
I have tried on numerous occasions to understand what the heck bitcoin mining is with little luck. I simply do not get it, all I know is investing in it is not for me. Now iPhones and iPads I know something about .... especially the iPhone X which is simply fantastic and light years ahead of any other phone I've ever used. Using my daughter's brand new iPhone 8 seems so antiquated at this point, when and if Apple does a cheaper version of iPhoneX it will sell in record numbers.
What a crappy day ..... but we are used to it ... and we are patient.
Cheers to the longs
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Post by PikesPique on Apr 19, 2018 11:35:51 GMT -8
IMO there is no investing in cryptocurrencies, only speculating. Cryptocurrencies have no intrinsic value. I'll invest in companies, thank you.
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Apr 19, 2018 12:04:19 GMT -8
I view todays drop as a gift, a buying opportunity before the May 1 earnings release and the subsequent adjustments in cash return to the shareholders. I'm all in.
Other opinions?
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ono
Member
compensation
Posts: 537
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Post by ono on Apr 19, 2018 12:34:15 GMT -8
www.tsmc.com/english/investorRelations/quarterly_results.htmTSMC's revenue came in about midpoint of their Q1 guidance. Their 10.6% Q/Q decline is similar to last years 10.8%. I'm looking for a transcript of what their management said. From 2018 Q1: In the first quarter, revenue decreased 10.6% quarter- over-quarter, primarily attributable to mobile product seasonality and an unfavorable foreign exchange rate.From 2017 Q1: Net revenue was NT$233.91 billion, representing a 10.8% decrease from NT$262.23 billion in 4Q16 and a 14.9% increase from NT$203.50 billion in 1Q16.Year-over-year, first quarter revenue increased 6.1%
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Post by sponge on Apr 19, 2018 14:32:35 GMT -8
I view todays drop as a gift, a buying opportunity before the May 1 earnings release and the subsequent adjustments in cash return to the shareholders. I'm all in. Other opinions? I think we may have one more opportunity next week. If this plays out the way I think, we should hit the 20 MA next week which is only $1 less then the low of the day.
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