Apple earnings were depressed by people (like me) waiting to buy an iPhone 5., now due October.
Meantime most news reports of Apple’s earnings last night used the word “missed.”
This will knock Apple’s stock.
You can buy Apple today at — presumably — much lower prices (“a buying opportunity”) and await the bounce on the release of the iPhone 5.
Or you can write the whole exercise off as “too hard.”
The BIG new feature on the iPhone 5 is its support for 4G and 4G/LTE. That will make the phone a much more pleasant data device. This should help Verizon, since its 4G/LTE blows AT&T’s crummy 4G service away.
At a P/E of 14, Apple is not cheap by today’s tech stock standards. Nor is it run by Steve Jobs. It’s run by a competent, overpaid COO (chief operating officer), who’s not a visionary.
I’d stay away.
The Berman Value Folio. Trefis analyses stocks using value techniques I’ve admired. They were free. They’ve just introduced the Berman Value Folio, which according to them is up 11.2% since its inception in December 2011. This is the original December portfolio:
It’s not my flavor. I’m not into large-cap stocks in today’s weak economy. But it does reflect the difficulty of finding big stocks today. You can read the first Berman Value newsletter here. The second and latest issue talks about home improvement. This is its table of contents:
You have to pay $249 for a year’s subscription. I didn’t (yet, I’m still mulling). Trefis’ site is here.
Harry Newton who hears from his friends in the Australian mining business two things:
1. Demand remains strong for all the stuff (like iron ore) Australia sells to China.
2. The big mining companies like BHP and Rio Tinto are buying Caterpillar equipment like there was no tomorrow.
I wonder, Harry, if the various patent lawsuits Apple is involved with and similar others in the tech world, suddenly a hot topic, could have an effect on Apple. Good or bad?