AAPL Intraday Updates (Archive)

  • Posted: 21 January 2009 08:41 PM #166

    pats - 22 January 2009 12:01 AM
    greyfox - 21 January 2009 11:41 PM

    Anyone see or figure out the non-GAAP figures/percentages?

    The numbers are available on Apple investor relations.

    http://www.apple.com/pr/library/2009/01/21results.html

    Many thanks!
    “In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone? and Apple TV? over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of ?Adjusted Sales? and $2.3 billion of ?Adjusted Net Income.”

    So according to this 2.3 billion of adjusted net income and the announced 28.1 billion of cash, dividing ‘em by 912000000 diluted share we’d get 2.52 EPS for the quarter and $30.81 per share of cash if I got the correct amount of zeros for these calculations.

    Not bad for a $90 stock!

         
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    Posted: 21 January 2009 09:42 PM #167

    winterpool,

    Refer to my post dated 20 Jan 9:35am PST, link.  Well, Eric and ernie are both wrong.  I seldom make such intraday/multi-day call, but the intraday ending diagonal is obvious (cramar saw it too).  However cramar and I differs on multi-week/month perspective.  He thinks AAPL has just begun a multi-month rally while I think is a suckers’ rally, an e-wave, before the next big down.  We would soon know over the next 1-2 weeks.

    [ Edited: 21 January 2009 09:45 PM by Mace ]

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    Posted: 21 January 2009 09:49 PM #168

    Interesting TOS puts Non-GAAP EPS on their charts.

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    The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.

         
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    Posted: 21 January 2009 10:02 PM #169

    Ah, we ran right over your post yesterday, Mace—probably because it was so brief and out of character (I half wondered if it were a joke).  My apologies…  I read Cramar’s retrospective confirmation today on the TA thread, which was of course too late.  Note also that Willrob considered setting up a sell order yesterday afternoon for $95 since he was going to be hors de combat today.  The intraday thread thought he was bonkers (frankly I was only hoping for 85 to 87 myself), but we were briefly above 92 after hours today (now 90.70—take that, opening bell!).  We may see 95 yet if today begins a multi-day rally.

    Another factor: the price didn’t fall below 79 until the afternoon.  It was after the November low failed, but 78ish seemed to stabilise, that I felt in my bones that the turn was imminent.  I think if Mace’s comment had popped in at that moment, it might have done the trick (especially if seasoned by a dash of TA to taste :wink: ).

    Also I shouldn’t blame Eric and Ernie exclusively for my cowardice: ConMan thought carbonat was ‘crazy’ for buying at 78.80, and there was general pessimistic talk yesterday of ‘60’, etc (in which I indulged too, though I felt that was a future, not imminent, price). 

    I don’t understand much of what you, Cramar, et al are saying, but your TA contributions are invaluable, and I wish I were literate enough to make use of them.

    Edited: to demonstrate my poor judgement of character

    [ Edited: 21 January 2009 10:05 PM by Winterpool ]

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  • Posted: 21 January 2009 10:05 PM #170

    Winterpool - 21 January 2009 11:02 PM

    Tim reiterated the mandate to defend Apple IP in response to a fairly direct queetion about Palm, right?

    Ah, Goldman remarks: ‘COULD APPLE BE SETTING THE STAGE FOR A LEGAL, IP SHOWDOWN WITH PALM?’ [caps his]

    Palm Pre is ripe for some legal action.  I’m not an attorney, but between the obvious design similarities and the presence of Apple defectors inside Palm, it seems Apple can at least make it painful for Palm in money and product release timing. Sheer speculation on my part though.

    I am a bit sick and tired of all these Copy Artists getting a free ride off of Apple’s investment and talent.  We haven’t seen anything against BlackBerry’s Storm because this think is almost DOA from a market acceptance side of things.  Palm Pre could be a different story.

         
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    Posted: 21 January 2009 10:12 PM #171

    I dunno about the Storm (I’m quite sceptical about IP claims for general outlines of UI, workflow, etc—there’s certainly enough abuse of patent lawsuits out there), but there was quite a lot of commentary on this board during CES that the Palm WebOS was awfully similar to v1 iPhone OS X (pre-Apps but relying on Safari/WebKit).  Coupled with the Apple talent airdropped into Palm, and it all looked rather too simple.  If Apple does wage a counteroffensive v Palm through the courts, I shan’t be surprised.

    Wonder if this will yield any selling pressure on Palm, if the rumour takes hold.

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain

         
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    Posted: 21 January 2009 10:16 PM #172

    Would we know if there is some licensing going on?

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    Posted: 21 January 2009 10:30 PM #173

    To Palm?  I just can’t see that; why would Apple share the Jesusphone with unbelievers?  Unless there’s a conspiracy to keep Palm in the market to sap RIM and Microsoft (whilst getting round the exclusive AT&T contract).  I remember when Jobs returned in the late ‘90s and invited the Orwellian visage of Gates to videoconference into Macworld, there was a general belief that MS was propping up Apple to undermine the antitrust crusaders.

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain

         
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    Posted: 21 January 2009 11:12 PM #174

    greyfox - 22 January 2009 12:41 AM
    pats - 22 January 2009 12:01 AM
    greyfox - 21 January 2009 11:41 PM

    Anyone see or figure out the non-GAAP figures/percentages?

    The numbers are available on Apple investor relations.

    http://www.apple.com/pr/library/2009/01/21results.html

    Many thanks!
    “In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone? and Apple TV? over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of ?Adjusted Sales? and $2.3 billion of ?Adjusted Net Income.”

    So according to this 2.3 billion of adjusted net income and the announced 28.1 billion of cash, dividing ‘em by 912000000 diluted share we’d get 2.52 EPS for the quarter and $30.81 per share of cash if I got the correct amount of zeros for these calculations.

    Not bad for a $90 stock!

    Apple is reporting diluted shares as 901494 this quarter and 2.56 non GAAP