AAPL Falls In A Down Market
Stocks are sinking in early trading after the May ADP private employment report came in much weaker than expected and at its lowest level since September 2010. Shares of AAPL were surging through the resistance, up nearly a percent in early trading but by midday they have fallen flat. Upcoming catalysts include the WWDC starting next Monday, June 6;
iPad 2 sales updates; the next
iPhone launch this fall; smartphone push into China and emerging markets;
iTunes and other cloud initiatives; the continued evolution and adoption of
Apple TV; and new platforms such as video, books / publishing and social (
Ping). Shares of Apple trade at
11x Enterprise Value / Trailing Twelve Months Free Cash Flow(incl. long-term marketable securities).
Apple Confirms WWDC iCloud Launch With Steve Jobs (Various via iDygest) Apple confirmed that Steve Jobs will unveil details of the upcoming iCloud media service, iOS 5 and Mac OS Lion during the opening keynote of WWDC 2011. In terms of iCloud, Apple has been negotiating with several of the major film studios to procure licenses to store customers movies on Apple's servers and allow those customers to stream them to their portable devices and perhaps the Mac. This is in addition to agreements with music labels.
Read more from Business Insider.
Read » U.S. Government Starting To Embrace Apple Mobile Products (The Washington Post) The U.S. federal government is tossing its
BlackBerrys and replacing legacy mobile devices and laptops with iPads and iPhones. The government spends $80 billion annually on information technology and Apple appears to be the biggest winner in the government’s move to new gadgets. The reason for the switch is largely tied to changing consumer preferences at home as well as agency directors and senior officials using newer gadgets. And CIO Vivek Kundra is going to give his people what they want.
Read » Look Who's Also Using The iPad Now (The Unofficial Apple Weblog)Some new customers:
- Hello iPad....: Alaska Airlines will be the first domestic airline to use iPads instead of paper flight manuals when the process is complete in mid-June. The airline has started a pair of initiatives that replace paper manuals (and eventually paper aeronautical charts) with iPads.
- ...Bye, Bye Paper: Aviators for the United States Marine Corps (USMC) in Afghanistan have discharged heavy stacks of paper charts and grid reference graphics from their cockpits and replaced them with the iPad. The popularity of the iPad among marine flight crews took off last November when one Cobra pilot figured out how to load digital maps onto the device.
MacBook Air Getting A Summer Refresh (9To5Mac) Global supplies of Apple's MacBook Air laptops are dwindling as the consumer electronics giant prepares to refresh the line. The update appears to be imminent this week (or next at WWDC) as retail and web sources worldwide report that supplies and shipments are beginning to diminish. Best Buy has also dropped its prices for the MacBook Air to $938 for the 11.6-inch base model.
Read » Apple Releases Productivity Suite iWork For iPhone And iPad
(Various via iDygest) Apple has updated iWork for iOS adding support for the iPhone and iPod touch to the existing suite of iPad apps. All apps come with a new document manager to organize documents into folders. Hopefully Apple will have a better cloud-based file management system for iOS in the near future (like next week), making these apps even better. They would be going directly after Google and Microsoft.
Read more at Business Insider.
Read » Latest Rumor Says iPhone 4S Coming July / August, iPhone 5 Coming Spring 2012 (Edible Apple) According to the latest rumors, Apple could be looking at making minor changes in iPhone 4S this year with a July / August release and then launch iPhone 5 in spring of 2012. I will point out that before the launch of iPad 2 similar rumors hit the web which claimed that iPad 2 will just be a minor revision but, the second-gen tablet actually turned out to be a completely new design. Hopefully we will get some clarity next week.
Read » Daily Trader: Apple Currently Trading At 2015 Cash Value (Bullish Cross) Apple will probably end the year with $80+ billion in cash. It will end next year with $120 billion in cash and will be producing roughly $12 billion in cash flow per quarter. If we assume that the company doesn't grow during 2013 to 2015, by the end of 2015 Apple will have more cash per share than the stock is trading at today (~$330). This is your second opportunity to capitalize on that run that a lot of you might have missed when Apple was sitting at $78 during the financial meltdown.
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