Since84
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To infinity and beyond!
Posts: 3,933
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Post by Since84 on May 26, 2015 2:25:56 GMT -8
Good morning everyone. AAPL trading RED at this early hour, at 132.05 -0.49 (0.37%). Major indices RED as well. No help here. In the news: Apple’s Jony Ive Named Chief Designer, Gives Up Day-to-Day Role. Stories at Bloomberg, WSJ, Patently Apple, AppleInsider and many others. Have a great day. Let's make money. *** I am unable to start the thread Wednesday and Thursday. Would someone please do the honors? Thanks.
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Post by phoebear611 on May 26, 2015 2:49:43 GMT -8
Good morning ... well we had our own little Thrilla in Manilla here last night. Anyone left standing? Geez. Now for the really important stuff: Big announcement from overseas this morning: China to cut taxes on imported consumer goods. Luxury handbags aren't included but furs are. Certain makeups (face creams) are and others aren't. Weird. So with the cut in tariffs I'm just wondering ... will it apply to iPhones at some point (because I'm gathering it doesn't currently). That would be awesome. They get a little cheaper... we see another surge there. Never say never. Think different!
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Post by phoebear611 on May 26, 2015 2:54:14 GMT -8
Cowen analyst Timothy Arcuri reiterated an Outperform rating and bumped his price target on Apple (NASDAQ: AAPL) to $140.00 (from $135.00) after raising estimates for the iPhone 6 and 6+. That said the analyst see the stock in a "macro period of consolidation."
"We are raising estimates and our target on our latest field work suggesting a far less pronounced "shoulder" period for this iPhone cycle as 6/6+ units remain very strong. We now see ~50MM units for June likely w/early read suggesting a similar number in Sept. Maintain Outperform and target increases from $135 to $140, but we still see the stock in a macro period of consolidation."
The firm raised FQ3:15 revs/EPS to $51.0B/$1.88, above Street ~$48.4/$1.75 and fully $3B above the high-end of the company's revenue guidance.
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Post by artman1033 on May 26, 2015 4:07:05 GMT -8
THIS is the headline I think we will see today: Apple’s Jony Ive Named Chief Designer, Gives Up Day-to-Day Role www.bloomberg.com/news/articles/2015-05-26/apple-s-jony-ive-named-chief-designer-gives-up-day-to-day-role"An article published in the New Yorker earlier this year described how Ive had been describing himself as both “deeply, deeply tired” and “always anxious” and said he was uncomfortable knowing that “a hundred thousand Apple employees rely on his decision-making -- his taste -- and that a sudden announcement of his retirement would ambush Apple shareholders.” “Jony’s an artist with an artist’s temperament, and he’d be the first to tell you artists aren’t supposed to be responsible for this kind of thing,” Laurene Powell Jobs, the late-co-founder’s widow, is quoted as saying."
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Post by firestorm on May 26, 2015 7:10:48 GMT -8
The Jony Ive news looks like it is catalyzing today's AAPL slide, as far as I can tell. It would really suck if his plan is to gradually fade from Apple.
I spent the weekend at a Seattle Audubon Society campout on the dry east side of Washington State, since I am an avid birder and naturalist (as well as a savvy investor, LOL). The interesting thing this weekend, in addition to seeing all the bird nerds, was that two of the campers came in Tesla Model S cars, which looked really strange among the flock of Subarus, and must have provoked some range anxiety in this remote area of rocky roads. Interestingly, I didn't see a laptop all weekend, and all the phones I saw were Samsung, which seemed extremely unpatriotic on Memorial Day weekend. There were lots of $10,000 camera lenses, which says a lot about the Seattle tech economy.
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Post by rickag on May 26, 2015 7:15:31 GMT -8
THIS is the headline I think we will see today: Apple’s Jony Ive Named Chief Designer, Gives Up Day-to-Day Role www.bloomberg.com/news/articles/2015-05-26/apple-s-jony-ive-named-chief-designer-gives-up-day-to-day-role"An article published in the New Yorker earlier this year described how Ive had been describing himself as both “deeply, deeply tired” and “always anxious” and said he was uncomfortable knowing that “a hundred thousand Apple employees rely on his decision-making -- his taste -- and that a sudden announcement of his retirement would ambush Apple shareholders.” “Jony’s an artist with an artist’s temperament, and he’d be the first to tell you artists aren’t supposed to be responsible for this kind of thing,” Laurene Powell Jobs, the late-co-founder’s widow, is quoted as saying." Unfortunately, it appears that you may be right.
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Post by archibaldtuttle on May 26, 2015 7:18:43 GMT -8
GOOG, FB, BABA, YHOO all down same amounts as AAPL today.
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Post by nagrani on May 26, 2015 9:41:50 GMT -8
I'm a buyer at 125. In the meantime - I sold puts at 125 strike price to collect some money/ weekly cash
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Post by macwire on May 26, 2015 9:52:54 GMT -8
Barf.
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Post by archibaldtuttle on May 26, 2015 9:59:52 GMT -8
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Post by firestorm on May 26, 2015 10:09:27 GMT -8
Good brief analysis. The problem is that it will introduce another uncertainty into Apple and AAPL for several years as we see how the changes in the design team play out. My decision to sell 1,000 shares of AAPL on Friday morning proved to be prescient, at least for the moment.
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4aapl
Moderator
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Post by 4aapl on May 26, 2015 10:29:23 GMT -8
Ya know, I don't really see AAPL dropping a bit over 2% on a day when many other stocks are dropping 1-3% as that worrisome. AAPL historically has had much worse, though often with reason. And then there's things like the flash-crash. Sure, I wish I had bought my shares of CVX (was also down 2%) today instead of Friday, but in the long run it's small potatoes as long as it's only temporary, and if gives anyone waiting to pull the trigger (on AAPL or others) a little push. Or a little hesitation....it all depends. As for Ive, from the linked article "I see no evidence that Jony Ive is a poor manager, but the reality is that he’s first and foremost a creative person, a designer, and not a manager." The other side of it is just giving someone some space to think, instead of burning them out. In this day and age it's easy to not have any time to really think. I know I miss my 30 minute bike commutes, where I found my mind drifted (with little traffic and no radio to compete with) and came up with good ideas. The same thing happens here when I can relax a bit, and now that the rain has stopped and it's set to get into the 70's here in Tahoe, I look forward to getting the hammock set up again and enjoying some peace before school lets out. For a decade there, I wanted to ask SJ at a shareholder's meeting "what's going to keep you at Apple for the next 5 years", especially while he was CEO of both Apple and Pixar. The board though the same thing, and gave him a jet. Steve occasionally answered this, with his excitement of helping bring forward products that the world got to use, "making a dent". But there always is the worry of burnout, and keeping someone engaged that has more than enough money to walk away. After all, there's only so many hours in the day, and you ultimately get to decide how to spend them. Freeing Ive up from managing people, or even from the many meetings that must come from touching so many products, gives him time to focus on the big picture...along with not burning him out. I'm sure there's a very capable team, and it's not like we don't know the direction of Apple's design efforts. Obviously the next iPhone is going to have the approximate dimensions of a standard brick, and the real design aspects come from deciding if they go with "new clay brick red", or the "sun faded and white speckled brick red".
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Post by rob_london on May 26, 2015 10:52:39 GMT -8
On speculation that Ive might leave Apple and return home to England, two paragraphs from the recent New Yorker interview sprung to mind:
"In San Francisco, in an L-shaped living room with a large fireplace surrounded by dark wood, Heather Ive turned off some lights to improve the night view. “You can see the wash of light from the lighthouse at Alcatraz,” she said. Her husband added, “The new house is way over there. You’re almost on top of the water.” The work in Pacific Heights, which has included driving piles forty feet into the ground, is scheduled to be finished this year."
"(Ive) had discouraged the thought that Newson’s appointment portended his own eventual departure, although when I spoke to Powell Jobs she wondered if “there might be a way where there’s a slightly different structure that’s a little more sustainable and sustaining.”"
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Post by macwire on May 26, 2015 11:00:29 GMT -8
Barfing hard. Wiping out a weeks worth of progress after a failed break out is not a positive development. Bars like this lead to a lot more weakness with the post earning run up in Feb being an exception.
Now on the 10ma.
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Post by rob_london on May 26, 2015 11:01:45 GMT -8
Fire reported at Apple's Arizona facility where it manufactures sapphire crystals. Update: Fire now reported extinguished.
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Post by archibaldtuttle on May 26, 2015 11:16:20 GMT -8
Double barf. I really thought we'd bounce at 130...
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Post by artman1033 on May 26, 2015 11:43:36 GMT -8
Fire reported at Apple's Arizona facility where it manufactures sapphire crystals. Update: Fire now reported extinguished. It took crews about 35 minutes to knock down a fire at the Apple building in far east Mesa late Tuesday morning. Fire officials said it appears that solar panels caught fire on the roof of the facility near Signal Butte and Elliot roads. Crews from Mesa Fire & Medical, the Superstition Fire & Medical District and the Gilbert Fire Department responded to the fire. Twelve people were evacuated but there were no reports of any injuries. www.azfamily.com/story/29158464/fire-burning-at-apple-building-in-mesa
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Post by The Big Toe on May 26, 2015 12:08:43 GMT -8
Fire reported at Apple's Arizona facility where it manufactures sapphire crystals. Update: Fire now reported extinguished. It took crews about 35 minutes to knock down a fire at the Apple building in far east Mesa late Tuesday morning. Fire officials said it appears that solar panels caught fire on the roof of the facility near Signal Butte and Elliot roads. Crews from Mesa Fire & Medical, the Superstition Fire & Medical District and the Gilbert Fire Department responded to the fire. Twelve people were evacuated but there were no reports of any injuries. www.azfamily.com/story/29158464/fire-burning-at-apple-building-in-mesaJust great. Now solar panels are causing global warming. :starts political argument, evil laugh and runs away:
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4aapl
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Post by 4aapl on May 26, 2015 12:49:23 GMT -8
Double barf. I really thought we'd bounce at 130... Still well above the 20, 50 and 200ma, and just retracing 5 days. Even without the overall market, I'd expect this from AAPL without a positive catalyst. As long as our range keeps moving up, some retracing is fine by me, though smaller retracing is gentler on the stomach. AAPL should eventually breakout positively to 140, but I think it will take another round of earnings, some great news (nice uptake rate of Apple Watch, or of Apple Pay), or rumors or a surprise at WWDC to get it going. It's hard to expect positive days on down market days without that. stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=6&dy=0&id=p92079600135The tarps are off next year's firewood piles, the plants are going into the garden beds, and the windows are open. Bring on Summer!
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4aapl
Moderator
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Post by 4aapl on May 26, 2015 13:34:52 GMT -8
Back to Ives, this UK story seems to have the best quote: www.telegraph.co.uk/technology/apple/11628710/When-Stephen-Fry-met-Jony-Ive-the-self-confessed-fanboi-meets-Apples-newly-promoted-chief-design-officer.html"When I catch up with Ive alone, I ask him why he has seemingly relinquished the two departments that had been so successfully under his control. “Well, I’m still in charge of both,” he says, “I am called Chief Design Officer. Having Alan and Richard in place frees me up from some of the administrative and management work which isn’t … which isn’t …” “Which isn’t what you were put on this planet to do?” “Exactly. Those two are as good as it gets. Richard was lead on the iPhone from the start. He saw it all the way through from prototypes to the first model we released. Alan has a genius for human interface design. So much of the Apple Watch’s operating system came from him. With those two in place I can ...” I could feel him avoiding the phrase “blue sky thinking”... think more freely?” “Yes!” Jony will travel more, he told me. Among other things, he will bring his energies to bear – as he has already since their inception – on the Apple Stores that are proliferating around the world. " So yes to the Apple Stores, but yes to a bunch of things, including the new campus. Personally if he was able to make anything he worked on 10% better, I'd prefer he worked on sellable products than non-sellable ones (stores and campus). But this does lessen the load, and lets him work on anything he wants. When I was at Apple, most groups let you do just that, focus on your main project but feel free to write up bugs in different areas. Likewise, bugs came in from others, including one I remember from Avie. And while SJ provided input on areas he cared most about (I wouldn't call it micromanagement since it never got to my level, but there was one bug I wrote about graphing in pages/keynote that came back as "SJ wants it this way"), there were many other areas that he wasn't focused on. Sure, they'd have a senior management review (I assume of all products) 1 or 2 times a year, but either he didn't care about those other areas or we were already doing things perfectly. More likely it was somewhere in between. I see the top leadership, whether SJ or now Jony, as both the gatekeeper and the mastermind. It's a larger view of the field, where they can make some overall strategy decisions, but also jump into the fray if it needs their direct insight. And if that's what he's doing, and suitable others are doing some of the more day to day tasks, then I think that's a good thing. But when one has been glorified so much (and product intro videos tend to do that), whether it was SJ or is Tim, Jony, or others, there's always going to be the "hit by a bus" worry, whether that's an actual bus or just new challenges elsewhere. Even with excellent employees at all levels, it's always on the worry wall.
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Post by artman1033 on May 26, 2015 13:48:27 GMT -8
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Post by rickag on May 26, 2015 14:39:33 GMT -8
IMHO: Jony Ives' employment status has been known for a long time. APPLE planned the story for the Memorial Day weekend. Curious why you think that?
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Post by gtrplyr on May 26, 2015 14:57:21 GMT -8
From what I've read about Ive , he is passionate about cars .... I wonder if this has anything to do with moving him over to new upcoming projects without announcing anything ?
I always said to myself when Ive leaves ... I'm cashing out ..... but really there is NO WAY I'm doing that right now .... I feel like the Apple train is moving full speed ahead and the loss of one person is not going to stop the momentum.
Also ... tried the Apple Watch for the first time yesterday. I'm impressed at it's many uses and will be buying one as soon as it's available in the stores . I would order one online but I'm hearing rumors that it will be available in June in the store ... we will see.
Cheers to the longs on this dreadful market day .....
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Post by phoebear611 on May 26, 2015 15:15:03 GMT -8
Grasshopper...have we learned nothing from history yet? Apple did not implode when the most important person to its genetic makeup, Mr. Jobs, passed away. We all thought it might but that was not the type of company he built. And it will not implode the day Jony Ive decides to move on. A speed bump...sure. But this thing SJ created is bigger than any of them in so many ways. There is probably dormant talent there we haven't even heard of yet ... I'm certain of that. All will be fine....all will be fine. And by the way, I don't think he's going anywhere for the near term for what it's worth.
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Post by rickag on May 26, 2015 15:16:09 GMT -8
gtrplyr
Did you cash out when Steve left? I understand the importance of Ive, but just as with Steve's passing the Apple culture will remain.
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mark
fire starter
Posts: 1,552
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Post by mark on May 26, 2015 15:17:12 GMT -8
Grasshopper...have we learned nothing from history yet? Apple did not implode when the most important person to its genetic makeup, Mr. Jobs, passed away. We all thought it might but that was not the type of company he built. And it will not implode the day Jony Ive decides to move on. A speed bump...sure. But this thing SJ created is bigger than any of them in so many ways. There is probably dormant talent there we haven't even heard of yet ... I'm certain of that. All will be fine....all will be fine. And by the way, I don't think he's going anywhere for the near term for what it's worth. I'd be worried if the culture changes, either by organic change or by the wrong person taking the helm and forcing such change. No company should be entirely dependent on individual people, it's simply too dangerous.
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Post by Luckychoices on May 26, 2015 15:55:37 GMT -8
Several days ago, my wife got a notice that her Apple Watch (Apple Watch 38mm Stainless Steel Case with Black Modern Buckle - Small) will be delivered today. Mine will not be delivered for another month (last week in June). I intend to make every effort to hide my envy. How am I doing?
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Post by gtrplyr on May 26, 2015 17:32:05 GMT -8
gtrplyr Did you cash out when Steve left? I understand the importance of Ive, but just as with Steve's passing the Apple culture will remain. No ... bought more I do realize the culture will remain .... I'm a big Ive fan as I really think he really has his pulse on the future of design BUT Apple's bench is DEEP and I have total faith in the two taking his position. They have already proven themselves and that's why I'm NOT selling anytime soon .... too much good stuff in the next few years.
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JDSoCal
Member
Aspiring oligarch
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Post by JDSoCal on May 26, 2015 18:15:19 GMT -8
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mark
fire starter
Posts: 1,552
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Post by mark on May 26, 2015 18:23:32 GMT -8
What a douchebag. Not the dog, the owner.
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