By MarketNewsVideo Apple (AAPL) had its price target and earnings estimates reduced by Jefferies (JEF) as checks of supply channels indicate that sales for the first quarter may be lower, and that new product launches could be pushed into the third quarter. A $420 price target was set. …read more
Source: FULL ARTICLE at Forbes Markets
Tag Archives: AAPL
24/7 Wall St. Closing Bell — March 8, 2013: Markets Maintain Buying Trend (TIF, SKUL, TWX, HL, AAPL, FNSR, HRB, P, WDAY, ANN, FL, CSIQ, CHYR, DKS, RENN, P, VALE, VOD)
Filed under: Investing
U.S. equity markets opened higher this morning mostly on the strength of a far-better-than-expected report on U.S. non-farm payrolls and a lower-than-expected unemployment rate of 7.7% (more coverage here). In Europe, German industrial production was flat while Spain’s declined a bit less than estimated. The French prime minister said the county needs to save €5 billion in spending this year, and he expects to achieve that through spending cuts. In Asia, Japan’s GDP growth for the fourth quarter was revised to flat with the previous year, again better than expected. The country also posted a small — and unexpected — trade surplus. China’s trade surplus was also larger than expected, likely due to the impact of the lunar new year holiday in February. Fitch downgraded Italy’s sovereign debt shortly after noon, briefly chilling investors (more coverage here).
The U.S. dollar index rose 0.73% today, now at 82.686. The GSCI commodity index is up 0.8% at 646.65, with commodities prices mixed today. WTI crude oil closed up 0.4% today, at $91.95 a barrel, up 1.4% for the week. Brent crude trades down 0.3% at $110.85 a barrel. Natural gas is up 1.3% today at about $3.63 per million BTUs. Gold settled up fractionally today at $1,576.90 an ounce, and up 0.3% for the week.
The unofficial closing bells put the DJIA up about 63 points to 14,392.46 (0.44%), the NASDAQ rose about 12 points (0.38%) to 3,244.35, and the S&P 500 rose 0.42% or more than 6 points to 1,550.77.
There were a several analyst upgrades and downgrades today, including Tiffany & Co. (NYSE: TIF) cut to ‘sell’ at Canaccord Genuity; Skullcandy Inc. (NASDAQ: SKUL) cut to ‘underweight’ at Piper Jaffray and cut to ‘underperform’ at Raymond James and D.A. Davidson; Time Warner Inc. (NYSE: TWX) raised to ‘buy’ with a price target of $68 at Argus; Hecla Mining Co. (NYSE: HL) raised to ‘buy’ at Global Hunter; and Apple Inc. (NASDAQ: AAPL) reiterated as ‘outperform’ with a price target of $600 at Credit Suisse.
Earnings reports since markets closed last night resulted in several price moves today, including these: Finisar Corp. (NASDAQ: FNSR) is down 8.7% at $14.46; H & R Block Inc. (NYSE: HRB) is up 9.2% at $27.27 after posting a new 52-week high of $27.50 earlier today; Pandora Media Inc. (NYSE: P) is up 17.1% at $13.74 after posting a new 52-week high of $14.70 earlier today (more coverage here); Workday Inc. (NASDAQ: WDAY) is up 0.9% at $62.20; Ann Inc. (NYSE: ANN) is up 7.7% at $31.23; and Foot Locker Inc. (NYSE: FL) is down 6.9% at $32.89 (more coverage here).
Before markets open Monday morning we are scheduled to hear from Canadian Solar Inc. (NASDAQ: CSIQ), Chyron Corp. (NASDAQ: CHYR), Dick’s Sporting Goods Inc. (NYSE: DKS), and Renren Inc. (NASDAQ: RENN).
Some standouts among high-volume stocks today include:
Pandora Media Inc. (NYSE: P) is up 17.1% at $13.74. This Internet radio company not only posted results that investors liked, the company’s CEO announced that he is leaving.
Vale SA …read more
Source: FULL ARTICLE at DailyFinance
This Apple Bear Was Absolutely Right
By Evan Niu, CFA, The Motley Fool
Filed under: Investing
OK, Jeff Gundlach. You were right. Absolutely right.
The bond guru has maintained bearish sentiment on Apple for the better part of a year. Last May at the Ira Sohn Conference in New York, Gundlach went as far as to recommend shorting Apple while going long natural gas, a trade that he said had “monster legs.” Let’s look at the price of United States Natural Gas Fund compared to the Mac maker to see how “monster” this trade turned out.
Over the next four months, Apple would continue rallying and top out at $705, nearly 30% higher than when Gundlach recommended shorting it, while natural gas was up less than 10%. Following Apple‘s peak, shares have cratered and are now down 22% from his initial call, although natural gas has given up most of its gains as well and is now only up 2.6%. Not so sure I would call that “monster,” even though his prediction that Apple would eventually fall has come to fruition.
In November, Gundlach appeared on CNBC at a time when Apple was trading near $550. The fund manager then expressed his belief that Apple has lost its main product innovator and that it would soon try to pass off “tooty-fruity” iPad colors as innovative. His crystal ball told him that Apple would soon hit $425, which was $125 below prices at the time and represented a market cap loss of nearly $120 billion. I panned Gundlach at the time, saying his price target was absurd since it would put Apple’s P/E firmly into single-digit territory of 9.6 (or 6.7 excluding cash), and that Apple’s cash would comprise 30% of its value.
Right after the new year kicked off, Gundlach went back on CNBC to reiterate the same $425 prediction. He said that his call wasn’t about being a bond guru or a equity specialist, but merely because he’s a “market guy” and that $425 was about the price that Apple went vertical and that the “bubble” would soon have to pop and shares would return from whence they came. I wondered if he would ever be right.
By mid-morning today, Apple shares tapped a fresh 52-week low of $422.90. Gundlach was right. Investors are looking at a pullback that has now officially reached 40% since late September — less than six months ago. It took a while for Gundlach’s call to pan out, but pan out it did.
Not so absurd anymore
As far as those “absurd” valuation figures I calculated from his first $425 prediction, they’re even cheaper now since Apple has posted an earnings release since, which also happened to spark a plunge.
Since Apple’s earnings per share last quarter were effectively flat from a year prior (down $0.06), the previously estimated P/E is still right on target at 9.6. However, Apple did add an additional $15.9 billion in cash to its coffers during the fourth …read more
Source: FULL ARTICLE at DailyFinance
Are Apple Shares Rotten?
By Alex Dumortier, CFA, The Motley Fool
Filed under: Investing
After spending most of the day in negative territory, stocks pulled out a win in the last part of the session, with the
S&P 500
and the narrower, price-weighted
Dow Jones Industrial Average
ultimately gaining 0.5% and 0.3%, respectively.
The VIX Index , Wall Street‘s fear gauge, responded well, falling 9% to close a hair above 14. (The VIX is calculated from S&P 500 option prices and reflects investor expectations for stock market volatility over the coming 30 days.)
What’s going on with Apple?
It used to be that investors couldn’t get enough of Apple . Now, the stock appears friendless. Today, for example, the shares lost 2.5% while the broad market advanced 0.5%. That decline produced a new 52-week low and put the company’s market capitalization below $400 billion.
According to the folks at Business Insider, star bond fund manager Jeff Gundlach predicted last year that the stock would hit $425, so they went looking for a follow-up comment (the shares closed at $420.05 this afternoon). Here’s how he responded:
AAPL over the last six months offers a textbook case study in market behavior and effectively debunks efficient market theories. The weakness is all the more remarkable because it has occurred within the context of a strong overall US stock market. SPX up 5% since September 19, 2012 and AAPL down 40%. [Note: SPX refers to the S&P 500.]
Is Apple a counterexample to the efficient market hypothesis, according to which stocks are always fairly priced because they reflect all relevant information at any given time? I’m not sure, but I think it certainly points to herd behavior among investors that produces stock price momentum (positive or negative). Take a look at Apple’s performance relative to the S&P 500 since the second quarter of 2012:
You can clearly see two periods of divergence between the two: The first as Apple shares shot ahead of the market, peaking above $700 on Sep. 19 and the second one, which is ongoing, during which the shares are underperforming. As far as herding goes, according to Goldman Sachs, the investment bank, Apple was the most heavily owned stock among hedge funds at the end of 2010 and 2011. That was not the case at the end of last year, as the stock fell to third place in Goldman’s ranking behind AIG And Google. In other words, pile in as a group and leave together as well.
Momentum is a reality, but ask yourself: If you’re a value-oriented investor, when are you most interested in looking at Apple shares: when they are above $700 and everyone is clamoring to own them or when they are no longer the flavor of the month and the price …read more
Source: FULL ARTICLE at DailyFinance
Short Interest Wanes in Some Big Stocks (GE, NOK, BAC, VZ, ANR, MCD, AAPL, RIMM, MSFT, DELL, GMCR, CSCO)
Filed under: Investing
We have tracked the key short interest changes as of February 15 in the following large cap stocks: General Electric Co. (NYSE: GE), Nokia Corp. (NYSE: NOK), Bank of America Corp. (NYSE: BAC), Verizon Communications Inc. (NYSE: VZ), Alpha Natural Resources Inc. (NYSE: ANR), McDonald’s Corp. (NYSE: MCD), Apple Inc. (NASDAQ: AAPL), Research in Motion, Microsoft Corp. (NASDAQ: MSFT), Dell Inc. (NASDAQ: DELL), Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) and Cisco Systems Inc. (NASDAQ: CSCO).
General Electric Co. (NYSE: GE) short interest rose 6.4% to 77.96 million shares. About 0.7% of GE’s float is now short.
Nokia Corp. (NYSE: NOK) saw short interest fall by 2.7% to 330.97 million shares, about 8.8% of the company’s total float.
Bank of America Corp. (NYSE: BAC) short interest rise 10.3% to 166 million shares, which represents 1.5% of the company’s float.
Verizon Communications Inc. (NYSE: VZ) saw a 3.8% rise in short interest to 47.05 million shares, which represents about 1.6% of the firm’s float.
Alpha Natural Resources Inc. (NYSE: ANR) showed a rise of 3.6% in short interest, to 33.13 million shares, about 15.2% of Alpha’s float.
McDonald’s Corp. (NYSE: MCD) showed a rise of 12.5% in short interest, to 13.92 million shares, about 1.4% of the company’s float.
Apple Inc. (NASDAQ: AAPL) saw a short interest fall by 0.4% to 18.78 million shares, or 2% of the company’s float.
Research In Motion changed its name to BlackBerry (NASDAQ: BBRY) on January 30, and short interest for this period was reported under the old name and ticker symbol RIMM. It saw short interest rise by 5.4% to 136.51 million shares, or 27.6% of the total float.
Microsoft Corp. (NASDAQ: MSFT) posted a 4.4% rise in short interest, to 83.58 million shares, about 1.1% of Microsoft’s float.
Dell Inc. (NASDAQ: DELL) short interest fall by 30.1%, to 28.73 million shares or about 2% of the company’s float.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) saw short interest increase by 13.9% to 30.89 million shares or 25.4% of the company’s float.
Cisco Systems Inc. (NASDAQ: CSCO) saw short interest fall by 3% to 55.11 million shares or about 1% of the company’s float.
Short interest in Dell has declined dramatically again following the buyout offer from Michael Dell and his partners. The rise in BlackBerry’s share price has brought more short interest because few people really believe the new smartphones will make much of dent in the armor of Apple, Google Inc. (NASDAQ: GOOG) or Samsung. GE’s rise in short interest is likely due to investors’ belief that the stock is fully valued and prospects are dimming as the global economy continues its slow motion recovery.
Filed under: 24/7 Wall St. Wire, Large Cap Stocks, Short Interest Tagged: AAPL, ANR, BAC, CSCO, DELL, GE, GMCR, GOOG, MCD, MSFT, NOK, RIMM, VZ
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Source: FULL ARTICLE at DailyFinance
Guru Stocks at Close to 52-Week Lows: AAPL, VOD, PBR, AMOV, EMC
By GuruFocus, Contributor According to GuruFocus list of 52-week lows, these Guru stocks are within less than 5% of their 52-week lows. Also check out Stocks at 3-year lows and Stocks at 5-year lows. …read more
Source: FULL ARTICLE at Forbes Latest
Analyst Says Sprint Trading Way Under Arbitrage Buyout Price (S, VZ, T, AAPL, PCS, CLWR, DISH)
Filed under: Technology, Earnings, Mergers & Acquisitions, Telecommunications
The ongoing merger (or majority stake) saga at Sprint Nextel Corp. (NYSE: S) may finally be coming to a close. The analysts at Argus feel confident that the Softbank/Sprint merger has a reasonably good chance for approval. In a research report released today, they point out that investors should take note of the 26% arbitrage difference between the current Sprint stock price and the $7.30 Softbank offer.
The long running turnaround at Sprint has lasted more than three years. While the company has made good progress in luring the lower margin prepaid business, attracting the higher margin postpaid subscribers, a business dominated by Verizon Communications Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T), has been difficult. While prepaid is lower-margin than postpaid, it is one of the strongest parts of Sprint’s business. The research team at Argus sees increased competition in this segment due to refocused offers from the market leaders, Verizon and AT&T, as well as from smaller players like MetroPCS Communications Inc. (NYSE: PCS). In addition, Sprint has been able to launch 4G LTE service in more than 50 cities, though its rollout is still dwarfed by the larger carriers.
Sprint finally got to offer its customers the iPhone in October 2011. Selling the popular smartphone cuts both ways, as handset subsidies paid to Apple Inc. (NASDAQ: AAPL) have hurt margins. According to the Argus research report, Sprint sold 1.6 million iPhones in the fourth quarter, which helped fuel its top line, but also has had an impact on margins.The company said that 38% of its iPhone activations in the quarter were for customers new to Sprint. However, it is unclear exactly where the customers are coming from since AT&T sold 8.6 million iPhones in the quarter and Verizon sold 6.2 million. The likely suspects would be T-Mobile, which does not have the iPhone, and customers moving up from prepaid. We note that nearly 40% of Sprint’s iPhone-related additions in the fourth quarter were new to the company, well above the rates for Verizon and AT&T.
Softbank, which is a Japanese telecom and Internet company, agreed to take control of Sprint Nextel, which is the third-largest U.S. telecom, last October. Under the terms of the deal, SoftBank will invest $20.1 billion in Sprint in exchange for 70% of Sprint’s equity. Some $12.1 billion will be distributed to Sprint shareholders for 55% of the company’s equity, and the remaining $8 billion will be used to strengthen Sprint’s balance sheet. At closing, Sprint shareholders will have the right to receive $7.30 per share in cash or one share of the recapitalized “new Sprint.”
One of the additional attractive assets that Softbank covets in the deal is Sprints majority ownership of wireless broadband provider Clearwire Corp. (NASDAQ: CLWR). With 1.4 million retail subscribers and 9.1 million wholesale subscribers, Clearwire has accepted Sprint’s offer to acquire the remaining 49% of the company that it does not already own. However, a competing …read more
Source: FULL ARTICLE at DailyFinance
Using Black Swan and Antifragile Analysis for Tech Stocks (UBS, VMW, CRM, AAPL, FB, LNKD, HPQ, NTAP, FIO, IBM, EMC)
Filed under: Technology, Earnings, Telecommunications
Nassim Taleb is well known for his work as a trader and professor, as well as the author of the book ” Black Swan.” He often concentrates his work on market volatility and the likelihood of extreme situations or occurrences that can radically move stock prices. The 9-11 attacks on the World Trade Center were a black swan event, devastating and totally unpredicted. His new book “Antifragile” focuses on things that gain from disorder. Are there tech stocks that can gain from disorder as well?
The tech analysts at UBS A.G. (NYSE: UBS) decided it would be interesting to apply some of the principles of Taleb’s book to tech stocks they cover. They point out in their report released today that Taleb advises using optionality to your advantage in finding situations with limited downside but undetermined upside. What matters is not the frequency of being right but the magnitude when you are correct. Also, to favor a barbell approach, both in specific companies that avoid the mushy middle of markets and in your portfolio by mixing low and high-risk assets.
Fragile things hate volatility and uncertainty, while the antifragile thrives on it. The UBS team believes that technology stocks, especially large caps, are inherently fragile, given that the industry structure changes every 15 years or so. They looked for companies riding emerging trends, and point to VMware Inc. (NYSE: VMW) and Salesforce.com Inc. (NYSE: CRM) as examples.
Vendors creating new product categories also scored high as antifragile. This category included names like tech giant Apple Inc. (NASDAQ: AAPL), social media leader Facebook Inc. (NASDAQ: FB) and business networking site operator LinkedIn Corp. (NYSE: LNKD).
One area that the spectrum of fragility did not favor as well was information technology (IT). The UBS analysts pointed out that computing as a service may present more risk than upside for many of the names that they cover. In their coverage universe, they consider Hewlett-Packard Co. (NYSE: HPQ) particularly fragile, given its size and share losses. They also see NetApp Inc. (NASDAQ: NTAP) as caught in the middle as it remains concerned about Fusion-io Inc.’s (NYSE: FIO) niche status. However, International Business Machines Corp. (NYSE: IBM) and EMC Corp. (NYSE: EMC) scored much better and are well-positioned large vendors.
At the end of the day, technology in always changing and evolving. Companies that look to past successes and not to future growth often can find themselves in the stock graveyard. Antifragile tech stocks might be the way to protect a portfolio from rapid technology and consumer shifts.
Filed under: 24/7 Wall St. Wire, Analyst Calls, Technology, Technology Companies, Telecom & Wireless Tagged: AAPL, CRM, EMC, FB, FIO, HPQ, IBM, LNKD, NTAP, UBS, VMW
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ISS Supports Apple's Proposed Move
Shareholder adviser ISS Proxy Advisory Services has urged investors to vote for an Apple Inc. (AAPL) proposal to eliminate the company’s power to issue preferred stock without shareholder approval, after hedge-fund manager David Einhorn of Greenlight Capital Inc. challenged Apple’s proposal earlier this week. …read more
Source: FULL ARTICLE at Fox Business Headlines
After Drop in 2012 Semiconductor Sales, 2013 Looks Much Brighter (ARMH, INTC, AAPL, MU, SNDK, AMAT)
Filed under: Technology, Earnings
Despite an explosion in smartphone and tablet sales in 2012, overall semiconductor sales were down for the year. The three-month average for global chip sales was $24.74 billion in December, down 3% from a revised November figure of $25.51 billion, according to the Semiconductor Industry Association. Is this a trend that will continue into 2013 or is there reason to be more positive on the industry?
Global chip sales for 2012 reached $291.6 billion, a decrease of 2.7% from $299.5 billion in 2011. Total sales for the year were slightly above the $290 billion predicted by the World Semiconductor Trade Statistics (WSTS) organization in November. WSTS forecasts the global chip market will grow by 4.5% in 2013.
ARM Holdings PLC (NASDAQ: ARMH) reported earnings that rose 19.2% year-over-year to GBP164.2 million, versus the GBP151.4 million consensus. ARM enters 2013 with a robust opportunity pipeline for licensing and a record order backlog. Market share gains in long-term growth sectors look set to continue as their partners introduce new chips based on ARM technology. While analysts have recently downgraded the stock on valuation, any significant dip in the stock price may offer investors an excellent entry point.
Intel Corp. (NASDAQ: INTC) reported adjusted earnings $0.51 per share ($0.48 per share net) and $13.5 billion in sales. Thomson Reuters had estimates of $0.45 per share and $13.53 billion in sales. For the coming quarter, Intel sees revenues of $12.7 billion, with its usual plus-or-minus $500 range on it. Thomson Reuters has the coming quarterly earnings report showing a consensus of about $12.9 billion in revenue. The company is trying to end its dependence on the personal computer market to focus on the smartphone and tablet arena. With a very nice 4.25% dividend, investors can be patient with the chip giant.
In a very competitive environment, memory chip maker Micron Technology Inc. (NASDAQ: MU) may have the ability to surprise when they report in March. Long a victim of stubbornly low and competitive pricing in the industry, memory chip prices have jumped recently and may continue higher. With a forward price-to-earnings (P/E) ratio of 15.30, analysts are expecting earnings per share to be up 193% next year, and the stock is trading for slightly over book value and under one times sales. Plus insider ownership has increased by 45% over the past six months.
Another name with a potential for a bright 2013 is SanDisk Corp. (NASDAQ: SNDK), which designs, develops and manufactures NAND flash memory storage solutions that are used in various consumer electronics products. SanDisk chips are found in the Apple Inc. (NASDAQ: AAPL) iPhone 5. Smartphone makers pay up for flash, at least compared with other types of semiconductors. At $21, the SanDisk chip is the second-most-expensive component in a 32 gigabit (GB) iPhone 5, according to research firm IHS iSuppli. Only the touchscreen display costs more. SanDisk is the biggest pure-play maker of flash memory. Two weeks ago, Rajvindra Gill, an analyst for Needham, upgraded the stock to Buy from Hold. He has a price target of $60 but sees the possibility of a $65-to-$70 stock. He points out that gross margins were 40% in the fourth quarter, compared with an expected 33%, and says, “We expect margins to improve throughout the year. And when you flow that through the model, you get a tremendous amount of earnings.” In a bullish scenario, per-share earnings could reach $5 next year, Gill says, nearly a dollar above the current consensus.
One other area to always look at when gauging the growth and health of the semiconductor industry is the actual manufacturing of the chips. Applied Materials Inc. (NASDAQ: AMAT) provides manufacturing equipment, services and software to the semiconductor, flat panel display, solar photovoltaic and related industries worldwide. Like Intel, Applied Materials is an industry leader, and also pays a solid 2.76% dividend. While analysts are only expecting $0.03 in earnings for the quarter that ended in January, revenues are expected to jump from $7.58 billion this year to $9.13 billion next year, a 20% increase. Applied Materials actually may prove to be a very solid value play.
With 2012 behind the industry and growth for 2013 expected to be close to 5%, it just makes sense for investors to look at quality names in the semiconductor sector that can benefit from improving economies and a healthier consumer climate.
Filed under: 24/7 Wall St. Wire, Analyst Calls, Semiconductor, Technology, Technology Companies Tagged: AAPL, AMAT, ARMH, INTC, MU, SNDK
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Source: FULL ARTICLE at DailyFinance
How Tim Cook Should Really Be Running Apple
By Eric Jackson, Contributor According to his critics: Grow Apple’s (AAPL) market share. But keep margins above 44%. Put out 8 different versions of the iPhone simultaneously, including ones with larger screens, like Samsung. But keep the margins above 44% and recall you only get the full profit benefit of a new iPhone in the 2nd half of its production run. Spend billions on marketing like Samsung. But let the product sell itself so that it stays premium. Get more people in the emerging markets on to the iOS platform. But don’t put out a cheaper iPhone and sacrifice margins. Reinstate Google (GOOG) as the primary Maps supplier on iPhone. But strategically position Apple to be a leader in mobile, search, and maps in the future. Shut down Siri because it never works. But figure out how to leapfrog Google in search in the future. Use the $137 billion cash on the balance sheet. But don’t make wasteful high-priced acquisitions. Innovate. But wring every dollar of profit of your existing product portfolio. Build every product in the USA instead of China. But stop making premium priced products and don’t charge a dollar more for your existing products. Don’t try to be Steve Jobs. But do everything that Steve Jobs would have done. Don’t let the iPads cannibalize Mac sales. But sell way more iPads. Buy back more of your stock. But innovate, vertically integrate more through buying more microprocessor companies, and keep some powder dry to buy Twitter or a few other big companies. Get better in Web Services. But don’t spend money buying Yahoo (YHOO), Twitter, or Foursquare. Don’t give customers a bad experience by kicking out Google search, Maps, and YouTube. But don’t strengthen Google any more by supplying virtually all of their mobile search revenue. Don’t pursue costly patent battles. But protect your core IP and don’t let Samsung rip off your innovations. Move faster in China. But make money doing it. Hire back Scott Forstall. But also retain Bob Mansfield and Jony Ive the way Steve Jobs was able to. Ship the Apple TV immediately. But make sure it’s a perfect experience for the consumer so that it’s not another Maps screw-up before shipping. Move faster. But don’t rush. Kill Facebook (FB), Amazon (AMZN), and Google. But don’t spread yourself too thin and get distracted from the core focus. Deliver amazing products. But do it a lot faster and in a lot more varieties. “Innovate” a few more products out of thin air that people will buy 100 million of within two years. But do it every year if possible. Be more charismatic like Steve Jobs. But continue to be an expert on supply chain. Change Apple. But never let Apple change from how it was under Steve. [Long AAPL and YHOO]
Source: FULL ARTICLE at Forbes Latest
Will MSFT Follow GOOG or AAPL?
By Tom Aspray, Contributor Better-than-expected results from bellwether tech companies kept the rally intact despite Apple disappointing, as MoneyShow’s Tom Aspray takes a closer look at the opportunities in the sector.
Source: FULL ARTICLE at Forbes Latest
Daily Dividends Report: BAC, AAPL, ALTR, APH, APU
By MarketNewsVideo Bank of America Corporation (BAC) maintained its quarterly dividend of 1 cent per share. The dividend is payable on March 22, 2013 to shareholders of record as of March 1, 2013.
Source: FULL ARTICLE at Forbes Markets
Apple Shares Fall As Slowing Growth Builds On Investor Concerns
Apple Inc. (AAPL) shares fell as much as 12% Thursday as slowing revenue and profit growth further fanned investor concerns about the company’s momentum and consumer demand for its devices.
Source: FULL ARTICLE at Fox Business Headlines
Apple: Despite The Troubled Quarter, Piper's Munster Stays Bullish
By Eric Savitz, Forbes Staff While Apple disappointed the Street with its December quarter results, some of the morre steadfast bulls on the stock are sticking to their guns. There will be more to come, but here are some of the early comments from the sell-side analysts. Gene Munster, Piper Jaffray: “While iPhone numbers were mildly disappointing, our initial look at Apple’s December quarter results does not sway our long term confidence in the iOS ecosystem,” he wrote in a quick research note on the report. “The December iPhone number, which we believe is the most important number for the company, came in at 47.8 million compared to the 50 million buy side bogey we talked about in our previous note. For March, the company guided to $41-43 billion in revenue compared to our expectation for a $41 billion guide. Net-net, while we believe the iPhone number may appear disappointing, the slightly better guide implies that investors may not need to continue to worry about noise regarding continued iPhone build decreases for March.” Peter Misek, Jefferies: He writes that gross margin and EPS topped consensus but fell short of his estimates. He notes that iPhone shipments in particular were disappointing. He adds that March quarter guidance was “typically conservative” in terms of revenue but that gross margin guidance was better than many feared, while implied EPS “may be a bit light.” Brian White, Topeka Capital: “Trading at less than 7x (ex-cash) our CY13 EPS estimate and a sales outlook that is inline with our projections (but below the Street), we believe there is quite a bit of bad news priced into the stock at current levels,” he writes. On the other hand, he notes that iPad and Mac units were well short of his most recent estimates. AAPL in late trading is down $54.01, or 10.5%, to $460.
Source: FULL ARTICLE at Forbes Latest
Apple Earnings: The Mother of All Reports
By The Street, Contributor It’s the mother of all earnings reports. Apple’s (AAPL) slated to report earnings and guidance after the close of trading, and given the malaise towards the iPhone maker lately, Apple will need to show something extraordinary to excite investors and regain the aura that’s surrounded the company in the past.
Source: FULL ARTICLE at Forbes Latest
Analyst Moves: AAPL, FE
By MarketNewsVideo Apple (AAPL) had its numbers reduced by UBS (UBS) due to lower iPhone average selling prices. A buy rating was issued with a $650 price target.
Source: FULL ARTICLE at Forbes Markets
Analyst Moves: MDT, AAPL
By MarketNewsVideo Medtronic (MDT) was upgraded by Credit Suisse (CS) to outperform from neutral as the firm believes that growth at the company should exceed that of consensus estimates during the next few quarters.
Source: FULL ARTICLE at Forbes Markets
Analyst Moves: K, AAPL
By MarketNewsVideo Kellogg (K) was downgraded by Credit Suisse (CS) to underperform from neutral as the stock price has risen above the previously set $55 price target.
Source: FULL ARTICLE at Forbes Markets
Verdict in from Yearly Charts
By Tom Aspray, Contributor While many traders focus on the short-term swings, others like Moneyshow’s Tom Aspray look at the year-to-year changes, as well as the yearly opening ranges to help him guide his long-term outlook.
Stocks started off the week on a mixed note as the selling in the tech sector, especially Apple. Inc. (AAPL) and Goggle, Inc. (GOOG) hit the Nasdaq 100 hard. Is the tech sector sending a warning to the whole market? Or will the earnings from the financial sector be enough to push the S&P 500 above 1473 and signal a test of the 1500 level.
The futures are down in early trading as they may be reacting to comments from Washington that the debt ceiling fight is heating up. Some investors and traders are examining the yearly closes, as well as the 2013 opening ranges in the key markets to help them develop a plan for 2013.
Source: FULL ARTICLE at Forbes Latest