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Post by zzmac on Feb 28, 2014 9:54:29 GMT -8
And why would anyone want a genius visionary on our BOD? Interesting question, not sure intended to be 'not want' or really mean 'want'. Personally, I don't want a visionary on board, that would clash with Apple's management vision. Two visions, another HP story. My question was intended as sarcasm. Not sure how you would know how if his visions would clash with Apple's. But along with his many talents he has a little insight into PayPal.
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Post by artman1033 on Feb 28, 2014 10:07:42 GMT -8
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Post by redinaustin on Feb 28, 2014 10:10:51 GMT -8
I agree with LStream's reasoning that Musk shouldn't be on Apple's board. He is just one of the recent 'hit' star. Apple needs those lasting one and not the flashy ones. And why would anyone want a genius visionary on our BOD? a genius visionary with balls on our BOD? Musk is about to play hardball with the state of Texas over the location of the battery factory!
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Post by Lstream on Feb 28, 2014 10:14:31 GMT -8
3. Tesla is a big buyer of batteries, not an innovator on battery chemistry designed to increase energy density. They take off the shelf cells and integrate them into packs. Therefore they are doing nothing that is of any use to Apple. Not yet anyway. If they are and have something tangible, then I may change my opinion. But I think it is FAR more likely that a startup and/or an existing player in the industry would deliver such innovation. Tesla has their hands full with everything else they are doing. I think it is extremely unlikely that they will be the source of an energy density breakthrough. I also think people get carried away when they find someone new to worship, which is what is happening with Musk. Expecting him to leapfrog the entire battery industry just because he buys a bunch of batteries is a fantasy in my opinion.
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Post by phoebear611 on Feb 28, 2014 10:18:51 GMT -8
Boards get stale - the best thing on a Board - ANY Board is diversification. Musk is young but is a visionary. Personally I would like someone who would start a sentence with "What if..." instead of the old pragmatic types. I'm not saying change the whole Board but a seat or two wouldn't hurt to freshen it up. It's hubris to think that there is NO ONE in existence that would be better and serve the company and shareholders better than one or two of the current Board. Anyway - hypothetical - it's not happening. In the meantime, the meeting was over at 1:00 pm and Cook has been taking Q&A for the last 20 minutes. Would love to know what he is being pressed on and his responses. We'll know soon enough I guess.
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Post by phoebear611 on Feb 28, 2014 10:27:21 GMT -8
No sooner do I post and Josh Lipton on CNBC is giving an update: TC said company is committed to innovation - R&D is up 32% Talked about acquisitions - bought 23 companies in the last 16 months Talked about India, Russia, China and Brazil -- said this is where growth would come from Will have an announcement within the next 60 days on the cash pile and capital allocation
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Post by The Big Toe on Feb 28, 2014 10:33:49 GMT -8
Not bad appleTV numbers. 10 million sold.
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Post by mace on Feb 28, 2014 10:45:58 GMT -8
Boards get stale - the best thing on a Board - ANY Board is diversification. Loaded statement. It makes whatever said after this, weak . IMHO, BOD needs some1 with experience in the finance industry not Musk. Issues like capital allocation, forex hedging, mobile payment, Ireland issue, etc need financial expertise. After Fred Anderson resigned, finance input is absent.
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Post by Luckychoices on Feb 28, 2014 11:11:25 GMT -8
Great. Give us the play by play Sorry. Couldn't do play-by-play because we all had to check our cell phones.
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Post by phoebear611 on Feb 28, 2014 11:28:22 GMT -8
Boards get stale - the best thing on a Board - ANY Board is diversification. Loaded statement. It makes whatever said after this, weak . IMHO, BOD needs some1 with experience in the finance industry not Musk. Issues like capital allocation, forex hedging, mobile payment, Ireland issue, etc need financial expertise. After Fred Anderson resigned, finance input is absent. Ah yes, of course, excellent point. Two board seats - one for a young visionary and another for a financier .... Other than 2 people named Don Quixote and Sancho Panza (lol) - of course!
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Post by rob_london on Feb 28, 2014 11:33:30 GMT -8
The architects designing the new Apple HQ have received these sweatshirts from Apple:
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 12:07:04 GMT -8
WTF with the Elon Musk nonsense again? What exactly is visionary about an electric car? GM made one over 100 years ago.
I just pointed out last week that without huge tax credits from the fed and some states, and carbon credit extortion payments from other carmakers, Tesla wouldn't be even remotely profitable. Tesla cannot compete without huge government handouts. Fisker couldn't even do it with handouts. That's a business model to be admired? Gah! Give it a rest! Ed Wood was a visionary, but without some hope of profits, it's just money down a rathole.
I'd rather see Mulally on the Apple BoD.
***
And 525.xx is where one would expect AAPL to close today. But the NASDAQ tank pushing everything down, and low open interest at 525 (only 700 contract difference). GOOG and PCLN tanking too. Buying opp for those two.
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Post by Lstream on Feb 28, 2014 12:12:42 GMT -8
WTF with the Elon Musk nonsense again? What exactly is visionary about an electric car? GM made one over 100 years ago. I just pointed out last week that without huge tax credits from the fed and some states, and carbon credit extortion payments from other carmakers, Tesla wouldn't be even remotely profitable. Tesla cannot compete without huge government handouts. Fisker couldn't even do it with handouts. That's a business model to be admired? Gah! Give it a rest! Ed Wood was a visionary, but without some hope of profits, it's just money down a rathole. I'd rather see Mulally on the Apple BoD. *** And 525.xx is where one would expect AAPL to close today. But the NASDAQ tank pushing everything down, and low open interest at 525 (only 700 contract difference). GOOG and PCLN tanking too. Buying opp for those two. Ya, but, but .... battery cooperation. Tesla will save Apple with better batteries.
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 12:17:05 GMT -8
More than $1 bln worth of Apple TVs sold in 2013 - CEO Fri, 28 Feb 20:08:00 GMT (Adds CEO comments, details, background) By Alexei Oreskovic CUPERTINO, Calif., Feb 28 (Reuters) - Apple Inc Chief Executive Officer Tim Cook said the company sold more than $1 billion worth of Apple TV set-top boxes in 2013 and reassured shareholders at the annual meeting that the company is investing heavily in the next generation of products. "We're working on some things that are extensions of things you can see and some that you can't see," Cook said at the annual shareholders' meeting on Friday, referring to a 32 percent increase in research and development costs last year. Cook said Apple has acquired 23 company in the last 16 months and remained on the lookout for interesting technology and companies. While Apple is not "in a race" to acquire the most companies or to spend the most money, that "doesn't mean we won't buy a huge company tomorrow afternoon," he said. Apple will provide an update about how it will use its massive cash pile, which was nearly $160 billion at the end of last quarter, within the next 60 days, Cook said. The time frame is in line with previous comments that the company would announce its latest cash management plans around April. Apple repurchased $14 billion in stock in a two-week period earlier this year, under pressure from activist investor Carl Icahn, who had been publicly calling for the iPhone-maker to buy back an additional $50 billion of stock above its existing buyback program. Icahn withdrew a shareholder proposal for the buyback following Apple's announcement of the $14 billion in stock repurchases. Icahn in late January said that he held more than $4 billion in Apple shares. Shareholders at the annual meeting at Apple's Cupertino headquarters on Friday re-elected all of Apple's board members. Apple shares were down 0.6 percent at $524.47 in midday trading on Friday. The shares have clawed back substantial ground since falling below $400 in June, though they are well below the record-high $700 level of 2012, weighed by concerns about whether the company has any new hit products in the pipeline. Some investors have expected Apple to unveil a wearable device, such as a smartwatch, or a new-fangled television that integrates Internet capabilities. Cook did not provide any details on new products during his presentation to shareholders, but said the company's existing $99 AppleTV set-top box -- long referred to as a "hobby" by Apple executives -- had racked up $1 billion in sales in the past year. "It's a little more difficult to call it a hobby these days," Cook said. In response to a shareholder question about innovation, Cook said that Apple preferred not to tip its hand about new products under development so as not to tip off the competition. "You can see we're getting ripped off left, right and sideways," he said. Cook also used the event to take pot shots at Google Inc , saying that the majority of users of Google's rival Android mobile operating system are using older versions of the software, presenting a security threat. In contrast, he said that 89 percent of people using devices based on Apple's iOS operating system are using the most recent version of the software. *********** Edit: Street Signs video report.
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mark
fire starter
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Post by mark on Feb 28, 2014 12:21:32 GMT -8
I wouldn't be at all surprised to see Musk on the Apple board someday. Maybe right after they cooperate on batteries. There is no reason to cooperate on batteries: 1. Tesla uses 18650 cylindrical Lithium Ion cells in its packs. 2. Apple uses Lithium Polymer packs in its iPhones and iPads. They could care less about the cells Tesla uses. The use case is completely different. 3. Tesla is a big buyer of batteries, not an innovator on battery chemistry designed to increase energy density. They take off the shelf cells and integrate them into packs. Therefore they are doing nothing that is of any use to Apple. Didn't Tesla just announce a big investment into battery research and manufacturing? Maybe they will eventually become an innovator to increase energy density. And maybe that innovation could also become applicable to handheld consumer devices. Just looking into a possible future here.
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Post by mace on Feb 28, 2014 12:33:16 GMT -8
In response to a shareholder question about innovation, Cook said that Apple preferred not to tip its hand about new products under development so as not to tip off the competition. "You can see we're getting ripped off left, right and sideways," he said. I love this response, witty. Much better than paraphrasing SJ's statement.
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Post by Lstream on Feb 28, 2014 12:46:11 GMT -8
There is no reason to cooperate on batteries: 1. Tesla uses 18650 cylindrical Lithium Ion cells in its packs. 2. Apple uses Lithium Polymer packs in its iPhones and iPads. They could care less about the cells Tesla uses. The use case is completely different. 3. Tesla is a big buyer of batteries, not an innovator on battery chemistry designed to increase energy density. They take off the shelf cells and integrate them into packs. Therefore they are doing nothing that is of any use to Apple. Didn't Tesla just announce a big investment into battery research and manufacturing? Maybe they will eventually become an innovator to increase energy density. And maybe that innovation could also become applicable to handheld consumer devices. Just looking into a possible future here. They have announced plans for a factory. So far a capacity and cost play. They have an interest in driving energy density up, so maybe is the correct word. But so far, the only concrete information is a high capacity factory. Not advancements in battery chemistry or associated research.
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 13:46:06 GMT -8
AAPL closed right where it should have, between 525-527.50.
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Post by aapl4kiki on Feb 28, 2014 13:49:06 GMT -8
Apple TV now with a $25 gift card.
Methinks new Apple TV is just around the corner.
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 13:59:44 GMT -8
Apple TV now with a $25 gift card. Methinks new Apple TV is just around the corner. Yeah, but will they be available in gold?
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Post by rob_london on Feb 28, 2014 14:29:36 GMT -8
FT reporting that Apple will launch its first in-car operating system with Ferrari, Mercedes-Benz and Volvo at the Geneva Motor Show next week.
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Post by aapl4kiki on Feb 28, 2014 14:30:36 GMT -8
Apple TV now with a $25 gift card. Methinks new Apple TV is just around the corner. Yeah, but will they be available in gold? I hope so. It is best! The other JD just noped it. The new Apple TV not the gold version. Does that mean it's never coming or isn't imminent? I'll take door #3. Apple TV retired. "New" product category replaces it.
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Mav
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Post by Mav on Feb 28, 2014 14:45:59 GMT -8
Apple TV $1B revenue figure is for device plus content revenues for FY '13 according to Peter Kafka at re/code (as confirmed by Apple) recode.net/2014/02/28/apples-tv-hobby-is-now-a-billion-dollar-business/"Small" in the context of $5.6B total accessories sales in FY '13, but something worth watching over the next few years. I wonder if Apple will break out a "media" category or something like it at some point.
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 14:59:39 GMT -8
Yeah, but will they be available in gold? I hope so. It is best! The other JD just noped it. The new Apple TV not the gold version. Does that mean it's never coming or isn't imminent? I'll take door #3. Apple TV retired. "New" product category replaces it.
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Post by artman1033 on Feb 28, 2014 15:02:19 GMT -8
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JDSoCal
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Post by JDSoCal on Feb 28, 2014 15:12:28 GMT -8
When, exactly, Tim, did you factor in shareholder returns? I don't remember you hitting that bullet point in any earnings conference calls. OK Tim, get AAPL back to ATH's and I'll get the hell out of your social justice organization's stock.
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Post by Deleted on Feb 28, 2014 15:14:33 GMT -8
Sounds like some people here should sell...
"He also said Apple may act on environmental or human-rights concerns in ways that do not factor in shareholder returns. “If you want me to make decisions on ROI (return on investment) only, you should get out of the stock.” An Apple spokeswoman declined additional comment on the remarks."
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Post by Deleted on Feb 28, 2014 15:16:12 GMT -8
When, exactly, Tim, did you factor in shareholder returns? I don't remember you hitting that bullet point in any earnings conference calls. OK Tim, get AAPL back to ATH's and I'll get the hell out of your social justice organization's stock. Why not sell now? You've held Apple for an extremely long time...you must be up significantly. If you no longer believe in the stock, sell now...who knows if it will ever reach an ATM again
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Mav
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Post by Mav on Feb 28, 2014 15:16:44 GMT -8
Well, it's no big secret Apple's always been a left-leaning but quite capitalist premium products/services company (with more social awareness or transparency or whatever under Cook).
Invest accordingly, I guess. Me, I'm just wondering when AAPL breaks out of 500-550ish, hopefully from 550ish
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Post by Luckychoices on Feb 28, 2014 15:37:45 GMT -8
I attended the Apple shareholders meeting this morning but was unable to give any updates because all cell phones had to be checked. The meeting was 1 hour, 29 minutes long broken down as follows: Business Meeting 40 minutes Tim Cook comments about the company 30 minutes Questions and Answers 19 minutes
During the Business Meeting we again heard from an individual that annually blasts Al Gore as unfit to be on the Apple Board. He’s as dependable as the folks on this board who blast Tim Cook. Of the several people that rose to speak in support of shareholder initiatives, one individual lobbied for Apple to avoid investing in anything that doesn’t provide direct financial benefit to shareholders. During the later Q&A, he spoke again and used the company’s investment in solar power as being only possible because of federal tax credits and again asked that Apple avoid investing in anything that doesn’t provide direct financial benefit for shareholders. Tim Cook’s response, which he specified covered both environmental and human rights concerns, was something to the effect of, “If you want me to make decisions based on ROI only, you should get out of the stock…because many things will be done because they’re the right things to do”. This elicited a loud round of applause from most of those in attendance.
I very much appreciated the half hour or so that Tim Cook spoke about the company. In addition to discussing the company’s accomplishments made over the last year, he also addressed, among other things, comments he had received during the business meeting, about the difference between the value of the company and the value of the stock. While emphasizing the long term view of the company, he said (paraphrasing), “To investors in the stock for a day, a week or a month, I encourage you not to invest in Apple because we're in it for the long term”.
Tim spoke to progress being made on the new Apple Headquarters site and, as I remember, indicated that razing of old buildings on the site is complete or almost complete. The construction schedule calls for the headquarters to be completed in 2016 and for the 2017 Apple shareholders meeting to be held there. Whereas the present headquarters is 80% building/concrete and 20% open space, the new site will be 20% building/concrete and 80% open space. Sorry I'm not able to provide more information from the meeting. I didn't bother to try to cover items that I know will be amply covered by the press. Now that I know we must give up our cell phones, I will be prepared to take notes at the 2015 meeting so I won’t have to depend on my increasingly undependable grey cells.
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