AAPL Down With The Rest
Stocks are getting clobbered this morning after news that the German government is considering a bailout mechanism to shield the domestic banks in the event of a Greek default, which is a clear signal that a default is likely coming. Shares of AAPL are off about 1.2%, less than the rest of tech. Catalysts include the
iPhone 5 launch this fall; the
iPad 3 in the spring of 2012; continued adoption in China and other emerging markets;
iCloud /
iOS 5 rollout and adoption; the continued evolution and next generation of
Apple TV; and new platforms such as mobile advertising (iAd), books / publishing and social (
Ping). Shares of
Apple trade at
9.7x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities).
Munster Says Investors Too Cautious About Apple's Calendar 2013 (Barron's) Piper Jaffray analyst
Gene Munster offered up his revenue and earnings projections for Apple for calendar 2013, projecting $164 billion and $40.50 per share, which he says is about 8% and 10% above the Street consensus, respectively. Munster also sees Apple having $140 per share in cash by the end of 2013, up from a $82 per share at the end of last quarter. His revenue estimate implies a deceleration in revenue growth in 2013 to 17% from 19% in 2012, it is still higher than the 10% revenue growth many investors expect.
Read » Analyst Raises His Tablet Estimates For This Year While Lowering Next Year (AppleInsider) J.P. Morgan analyst Mark Moskowitz raised his estimates for tablet shipments in 2011 to 51.9 million units, citing the strength of Apple's iPad. Apple "continues to dominate and enjoy the lion's share of the tablet market". He slightly lowered his 2012 estimates because a "formidable number two tablet maker" has yet to arrive. The assumption that Android tablets would quickly ramp up hadn't panned out, as none had grown to the point of being a major contender.
Read » More iPhone 5 Rumors, 5-6 Million Shipments Expected In Sept (DigiTimes) A new report claims
Foxconn has ramped up production of Apple's fifth-generation iPhone to 150,000 units per day, with shipments expected to reach 5-6 million in September. Somewhere in China there are stacks of millions of completed iPhone 5s. iPhone 5 shipments are also expected to top 22 million in the fourth quarter as Apple reduces shipments of the GSM and CDMA models of the iPhone 4.
Read » Netflix Moving Internationally, What Does That Mean For Popular Watching Devices (GigaOM) Netflix is heading south to Brazil. So what does that mean for Apple? Apple doesn’t sell its Apple TV to consumers in Brazil, and Roku’s media player isn’t available outside the U.S. either. But having Netflix available in Brazil and beyond definitely helps to make the case to bring devices like the Apple TV there as well. And the drumbeat is growing.
Many think Apple is going to introduce a TV set in 2012.
Read » Some Interesting iTunes U Statistics (The Loop) According to Apple, iTunes U has had more than 600 million downloads since its launch in 2007. They’ve had more than 300 million in the last year alone, a testament to the growing popularity of the service. Currently, iTunes U boasts more than 1,000 universities with active accounts. While many of us think of iTunes U as being a part of the desktop experience, 30% of iTunes U traffic comes from iOS devices. iTunes U is currently available in 123 countries, which would explain why 60% of users are international.
Read » Next Generation iPod To Have 3G Connectivity (Apple'N'Apps) Apple is working on a 3G iPod Touch. The company is intent on announcing the device during their September event which they usually save for their iPod line, but is rumored (hopefully) will include the iPhone as well this year. While not much more is known about a possible updated iPod line of devices, 3G connectivity, which had been reported a few months ago, would allow iPod touch customers to access data networks much like the iPad.
Read » Apple Looks To Block Samsung In Japan (Various via iDygest) In a move that should surprise no one, Apple has asked a Japanese court to ban the sale of
Samsung phones, as part of its ongoing, ever growing, list of patent infringement battles. The tech giant filed suit in Tokyo asking the court to suspend sales of the Galaxy S and Galaxy S II smartphones, as well as the Galaxy Tab 7 tablet.
Read » The Starship Enterprise Might Need A Millennium Falcon (Mercury News) Despite its upcoming spaceship campus, Apple may need a third campus. Cupertino mayor Gilbert Wong notes that Apple executives told him the company is expanding so fast it expects to start building the third campus once the second one is finished in 2015. Apple is also hoping to reduce environmental impact through advanced design touches like solar panels over the parking area. Wonder how much this one is going to cost?
Read » 
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