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Post by tuffett on Jan 26, 2016 13:29:27 GMT -8
Yep...funny how the best earnings in history is going to be so meaningless.
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Post by incorrigible on Jan 26, 2016 13:31:17 GMT -8
$3.28 EPS ... meh
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Post by dreamRaj on Jan 26, 2016 13:32:44 GMT -8
75.9 bln
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Post by incorrigible on Jan 26, 2016 13:32:41 GMT -8
Revenue 75.9B ... not good.
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Post by dreamRaj on Jan 26, 2016 13:33:20 GMT -8
Stock isn't tanking... yet!
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Post by artman1033 on Jan 26, 2016 13:33:38 GMT -8
here www.apple.com/pr/library/2016/01/26Apple-Reports-Record-First-Quarter-Results.htmlApple is providing the following guidance for its fiscal 2016 second quarter: revenue between $50 billion and $53 billion gross margin between 39 percent and 39.5 percent operating expenses between $6 billion and $6.1 billion other income/(expense) of $325 million tax rate of 25.5 percent last year: CUPERTINO, California—April 27, 2015—Apple® today announced financial results for its fiscal 2015 second quarter ended March 28, 2015. The Company posted quarterly revenue of $58 billion and quarterly net profit of $13.6 billion, or $2.33 per diluted share. These results compare to revenue of $45.6 billion and net profit of $10.2 billion, or $1.66 per diluted share, in the year-ago quarter. Gross margin was 40.8 percent compared to 39.3 percent in the year-ago quarter. International sales accounted for 69 percent of the quarter’s revenue. www.apple.com/pr/library/2015/04/27Apple-Reports-Record-Second-Quarter-Results.html
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Post by tuffett on Jan 26, 2016 13:34:50 GMT -8
Considering the extra 6 days of new iPhone sales compared to last year, that is pretty terrible "growth"
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Post by tuffett on Jan 26, 2016 13:38:10 GMT -8
High end of guidance is an 8% YoY decline...the analysts got it right. Time to turn this stock into a blue chip cash monster.
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Post by dreamRaj on Jan 26, 2016 13:39:06 GMT -8
Probably this is the first time that AAPL isn't tanking after Apple has missed consensus.
All of a sudden, 100 feels good.
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Post by artman1033 on Jan 26, 2016 13:39:08 GMT -8
Stock isn't tanking... yet! it should tank on guidance tomorrow....
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Post by mrentropy on Jan 26, 2016 13:39:12 GMT -8
I'm surprised they only bought back $9B last quarter. Even less actually, because that number includes dividends. Running low on cash or expect to be able to get it cheaper later? Wish I could ask about buybacks on the conference call.
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bud777
fire starter
Posts: 1,352
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Post by bud777 on Jan 26, 2016 13:41:15 GMT -8
WTF? These are horrible numbers and the stock goes up???
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Post by macwire on Jan 26, 2016 13:42:11 GMT -8
Stock isn't tanking... yet! it should tank on guidance tomorrow.... aapl is a utility company return the cash to shareholders.
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Post by dreamRaj on Jan 26, 2016 13:42:24 GMT -8
I'm surprised they only bought back $9B last quarter. Even less actually, because that number includes dividends. Running low on cash or expect to be able to get it cheaper later? Wish I could ask about buybacks on the conference call. Low on cash, I assume. Good time for them to raise a 30 bln US loan this quarter.
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Post by rob_london on Jan 26, 2016 13:43:04 GMT -8
WS: "Apple CEO Tim Cook says Apple rev hurt by "devastating" currency moves. 2% rise would have been 8% w/o currency."
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Post by macwire on Jan 26, 2016 13:44:00 GMT -8
WTF? These are horrible numbers and the stock goes up??? if you're a bull, thats a good thing - floor building, sentiment wash out...etc... but people expecting 150 by year end...or even two years out you will not see it without growth. period. And its gotta be more then a new market expansion. Gotta be a new product category.
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Post by artman1033 on Jan 26, 2016 13:50:11 GMT -8
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Post by sponge on Jan 26, 2016 13:50:49 GMT -8
Well looks like channel checks are finally correct. The fact they bought so little says they know they have time to buy more this quarter even lower.
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Post by artman1033 on Jan 26, 2016 13:53:07 GMT -8
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Post by dreamRaj on Jan 26, 2016 13:54:26 GMT -8
So, 95-110 till Aug?
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 26, 2016 13:55:22 GMT -8
I'm not appreciating Apple's conference call music selection. Are they trying to get people to tune out?
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Post by macwire on Jan 26, 2016 14:03:01 GMT -8
here is my WAG.
AAPL will have to capitulate the last of the "growth" bulls with whip lower. If i had to guess, the completion of the HS top down into the 80s would seem like a reasonable target. This likely coincides with this steeper correction that is currently unfolding.
Once those growth bulls have capitulated, AAPL will start to slowly build a new base of investor client. That maybe comes when AAPL decides to repatriate some cash and pay a huge f'n dividend. Something of that sort.
Its a megacap, utility company now - the sexy moves of 30-40 percent price explosion are likely over without a new expansive product category (WITH the sexy 35% margins)
We can all argue even now, just based on textbook fundamentals it deserves a PE at least in line with the SP500 but it ultimately does not matter. Supply and demand is all that matters.
Throw out all your bias and just observe what price is doing. Its trending lower and now you know why...
best case scenario is apple chops around here in the 90s and builds a very long well formed base...sentiment corrections come through TIME or PRICE.
AAPL reclaiming 110-115-120 seems like a tall order if SPX doesn't give a major tailwind
Trade your plan, this is just my WAG.
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Post by chasmac on Jan 26, 2016 14:35:07 GMT -8
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Post by macwire on Jan 26, 2016 14:39:30 GMT -8
WTF? These are horrible numbers and the stock goes up??? Bad news priced in with start of downtrend in july. Good case of trade price first and find the reason out later UA another good example of this.
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Post by mrentropy on Jan 26, 2016 15:03:33 GMT -8
WTF? These are horrible numbers and the stock goes up??? Not any more. Down two and a half, leaking lower. The conference call was not very upbeat about the economy as a whole. One interesting note was the mention that they felt this was the only down year over year quarter. That being said, I may be moving all of my June/July positions another year out. I'll give it a week or two to see what happens, but this doesn't bode well.
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Post by tuffett on Jan 26, 2016 15:07:56 GMT -8
Yep...extremely pessimistic and the emphasis on services and the new proxy materials is going to be seen as desperation and grasping at straws to hide the fact that iPhone growth is dead (I don't necessarily agree with this, but people are going to think it).
This is a strong message to the Fed that they better scrap their plan to raise rates 1% a year while the rest of the world devalues.
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Post by gtrplyr on Jan 26, 2016 15:18:32 GMT -8
Good EPS despite lower iPhone sales and currency problems .... I think people are going off the deep end here . Even the iPhone sales were not as bad as most had expected .... remember they set a new record for PROFIT which is what should matter here and is getting lost in the discussion.
iPhone 7 will be a major upgrade and will be here this year, Music, despite it's UI problems is doing pretty well after only 4 months, Apple WILL introduce some type of tv content product this year and the watch will be updated soon ..... all hope is not lost and I'm not abandoning ship.
Cheers to the longs
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Post by sponge on Jan 26, 2016 15:19:39 GMT -8
I expect to see a new series of downgrades in the next 3 weeks. With average price target at 140, much too high.
I am out of my trading position and will wait for lower re entry.
80s looks very good in late September with a p/e around 9. Presidential election will keep the market very worried.
The world economy will not be fixed this year and the US economy will be limping along.
The 6 series phones are amazing and can last owners at least 4 years.
TC did not answer the iPhone instore sales program with much confidence. Don't see it giving us much excitement until 2018.
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Post by Volvocoupe on Jan 26, 2016 15:20:32 GMT -8
Good EPS despite lower iPhone sales and currency problems .... I think people are going off the deep end here . Even the iPhone sales were not as bad as most had expected .... iPhone 7 will be a major upgrade and will be here this year, Music, despite it's UI problems is doing pretty well after only 4 months, Apple WILL introduce some type of tv content product this year and the watch will be updated soon ..... all hope is not lost and I'm not abandoning ship. Cheers to the longs
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Post by dreamRaj on Jan 26, 2016 15:27:36 GMT -8
Some thoughts...
- Hat tip to the analysts - much as we've hated them for their channel checks, they were right.
- Tim was quite clear in accepting low iPhone sales and that March would be a tougher compare.
- The good part was him saying not to subscribe to the China doom and gloom scenario.
- Also good is cash is now at 216 bln which is equivalent to $39/sh. That should provide resistance to any further major decline under 90. If the current/new government provides a tax break, it'll immensely help Apple with ready cash to buy back as much as 25% of the company and still have enough left.
- We're down 2.5% AH. Looks like 94-95 will be the low for tomorrow (hopefully the week) unless Asia and oil have another sell-off.
Bottomline for me: Although it doesn't look rosy until iPhone 7, I'm not abandoning ship.
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