In the extended comments section at the bottom of this post is the commentary I wrote for StreetInsight.com immediately following Apple Computer’s conference call discussing its September quarterly earnings. As it turned out, I was right that the Street was overreacting when the shares were trading down 10% in after hours trading during the conference […]
I am not sure if it was the Merrill Lynch downgrade from buy to neutral or the iPod nano screen problems that led to the sharp decline in Apple Computer (AAPL) but the reaction was sharp with the shares dropping close to 5% on well above average volume. I’m no technician but the chart definitely […]
Today I contributed the following commentary on Apple Computer to StreetInsight.com, the professional service of theStreet.com. Since Northlake clients are long Apple in their portfolios, I thought the note might be of interest. I have also included the text of two other comments on Apple that were contributed by other money managers who contribute to […]
There is a lot of anticipation and excitement surrounding this week’s official announcement of the iTunes phone combining the efforts of two companies owned by Northlake clients, Apple Computer (AAPL) and Motorola (MOT). I think the iTunes phone launch is a positive for both companies and might be significant for the mobile phone industry as […]
Apple (AAPL) shares were trading up sharply during its conference call last night and look even higher in pre-open trading today. The gains are well deserved as the earnings report and the tone of the call were both excellent. iPod shipments easily exceeded expectations and computer shipments were at the high end of expectations. Gross […]
Apple Computer (AAPL) reports after the close tonight. Consensus expectations call for revenues of $3.34 billion and EPS of 31 cents. Consensus is above management guidance of $3.25 billion and 28 cents. Full year 2005 EPS estimates are $1.33 with 2006 at $1.54, or 16% growth. Current 3Q consensus estimates for revenues and EPS are […]
Apple shares have struggled for the last few months due to fears of slowing demand for iPods due to competition. Yesterday, those fears got some fuel when the supplier of flash memory drives for the the iPod Shuffle dramatically lowered its current quarter sales outlook. This has led investors to believe there may be too […]
I was surprised by the market’s strong response to the news story that Apple Computer (AAPL) was considering using Intel (INTC) chips in future Macs. I think part of the upside was short-covering as the stock was gapping up above its highs since the collapse after the last quarterly earnings report. The gap up also […]
The following entry is cross-posted from Street Insight. As some clients and friends of Northlake Capital Management know, I write a brief daily commentary for StreetInsight.com, the professional version of The Street.com. Street Insight is an expensive service targeted at money managers. Along with another two dozen money managers, I contribute commentary on the stock […]
Despite the fantastic performance of shares of Apple Computer, including today’s big run-up on the company’s outstanding fourth quarter earnings results, I believe the opportunity for substantial further gains exist. Consequently, client portfolios purchased a trading position in Apple shares (AAPL) after some of the morning enthusiasm wore off. The investment thesis is that the […]
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