AAPL Up With Tech
Markets were up in early trading on solid earnings news but the Dow Industrial Average plunged after a big time miss in the University of Michigan consumer sentiment index. Shares of AAPL are up as the tech tape continues to trade in the positive on
Google earnings from after the close yesterday. Catalysts include
second calendar quarter results to be released on July 19th at 5pm ET; the next
iPhone launch this fall as well as the possible
iPad 3 ahead of the holidays; smartphone push into China and emerging markets;
iCloud rollout and adoption; the continued evolution and next generation of
Apple TV; and new platforms such as books / publishing and social (
Ping). Shares of
Apple trade at
12x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities), low versus historical standards.
Apple Accounted For One-Fifth Of All Sales Growth Of Publicly Traded Retailers (USA Today) Apple is reportedly the fastest growing retailer in the U.S., according to retail sales expert David Berman. The company's first quarter sales are said to have grown to $4.6 billion, marking an 80% increase from the same period last year. "People don't realize how much money has been diverted to Apple." That increase accounted for one-fifth of all sales growth by publicly traded retailers in the U.S. In the Asia-Pacific region, sales rose 151% to $4.7 billion.
Read » Apple Takes Over Third Place In PC Shipments As Acer Plummets (IDC) Modest growth returned to the computer industry in the second quarter following a dip earlier this year, although consumer appetite for tablets continued to dampen demand for desktop and laptop PCs. Tablets aside, Apple has managed get almost 11% of computer market share in the U.S., according to IDC. Mac shipments shot up nearly 15% year-over-year to put Apple at third place with 10.7% and 1.92 million Macs. Much of that growth came at
Acer's expense which sank to fifth place.
Read » How Many iPhones Did Apple Sell Last Quarter? (Fortune) Ahead of Apple's third quarter earnings report next week, Fortune has roundup of
iPhone sales estimates which range from a high of 20.25 million from Nicolae Mihalache of Traderhood down to a low of 15 million from Charlie Wolf of Needham. The average estimate falls at 16.9 million units which is a 101% year-over-year increase and a slight drop from the 18.6 million sold last quarter.
Read » Apple To Reveal Financial Implication From Nokia Patent Lawsuit In Earnings (AppleInsider) Although Apple has been relatively quiet about its patent lawsuit settlement with
Nokia, details may emerge when the tech giant releases its third quarter financial report. Maynard Um with
UBS believes Apple was likely accruing a liability in accordance with generally accepted accounting principles (GAAP) in anticipation of a settlement with rival handset maker
Nokia. We'll know next week whether Apple got a good deal or will take a hit to earnings.
Read » Apple Is Not Looking For Another iPad Manufacturer (Digitimes) Despite the recent rumor that Apple was looking to add a second manufacturer to its
iPad supply chain,
Foxconn has exerted its efforts to protect its orders and apparently has persuaded Apple to not shift some of its iPad orders to other contractors for the moment.
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