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Introduction: the United States,Affliction Jeans, \different status, but both shares are cheap, and therefore recommends that investors also bought shares of Microsoft and Apple.
following article in full:
margin is expected to fall
Apple is perhaps the most detailed study by global investors, listed companies – at least those who are not in Gulf of Mexico oil spill in the enterprise, is the case – but surprisingly, it seems will continue to surprise investors.
Apple last week ended June 30 of the third-quarter earnings is an example. The company’s third-quarter revenue higher than Wall Street’s average estimate of 1 billion U.S. dollars, up 15.7 billion U.S. dollars, up 61.4%. Earnings per share reached 3.51 U.S. dollars, higher than Wall Street’s average estimate of 0.4 U.S. dollars. As always, Apple is expected to have been their breakthrough. A quarter of the company’s third-quarter earnings estimate from 13 to 13.4 billion U.S. dollars, to achieve earnings per share from 2.28 to 2.39 U.S. dollars. Apple are in many ways, the line, but not good at forecasting performance.
last week’s earnings report, Apple is more surprising is the prediction of the September quarter. Apple expects September quarter revenue 18 billion U.S. dollars – and as in recent quarters, this is expected to more than one billion U.S. dollars of Wall Street expectations – to achieve earnings per share of 3.44 U.S. dollars, 3.82 U.S. dollars lower than the average Wall Street forecast. This indicates that Apple’s margins will be shrinking, Apple expects fourth-quarter gross margin was 35%, 39.1% lower than the third quarter.
went wrong? First of all, Apple iPad made a good start: Third quarter sales reached 3.27 million units, close to the Mac platform over the same period sales of 3.47 million. Single iPad a business for Apple to bring the nearly 2.2 billion U.S. dollars in revenue. At the same time,True Religion Men Shorts, iPhone 4 \Apple in the third quarter conference call with analysts that the company decided to take on the iPhone 4 iPad and aggressive pricing, making these two devices before Apple’s profit margins than the products. Specifically, each iPhone 4 lower than the profit for Apple iPhone 3GS.
care of this on the margins to some extent is expected to weaken from the excellent produce positive results. For those who has yet to buy Apple stock investors, it is a good news. Really risk? Indeed. According to market value, Apple is already the second largest listed company, its stock price doubled in the past 18 months, 3 times, it may be more modest increases. Google Android based mobile phone operating system in the smart phone market has taken a considerable share of winning, RIM, Nokia and Microsoft’s latest mobile operating system is also expected to further aggravate the already very competitive market. Although the iPad still dominate in the Tablet PC market, but will soon have more competitors enter the field. Apple’s next new product may face more difficulties. Also, Steve? Jobs (Steve Jobs) may face more health problems.
stocks remain attractive
Nevertheless, Apple’s stock still seems very cheap. On the one hand, Apple has 45.8 billion U.S. dollars in cash and long-term investment, this alarming figure is still growing: just last quarter has increased by 4.1 billion. Also, Apple’s growth is still surprising: according to the company’s September quarter is expected to 18 billion U.S. dollars in revenue terms, the year increased by 82%. How many companies can achieve such a fast growth rate? Do not forget that Apple will underestimate the performance of almost every quarter: June-quarter revenue higher than the expected 18.9%, if this happens again, then the company’s fourth quarter revenue will reach 21.4 billion U.S. dollars.
Wall Street analysts on average expect Apple in September 2011 ended the fiscal year will be 17 U.S. dollars to achieve earnings per share, corresponding to the price-earnings ratio of only 15 times. If you remove the cash reserves, price-earnings ratio will be lower. Moreover, analysts expect will be further raised to continue to reduce Apple’s valuation.
Finally, Jobs in the recent quarter analyst conference call stressed that Apple \The industry believes that Apple is expected to launch with front camera and the use of \In addition,Red Monkey Men Shorts, Apple also likely to MacBook Air, Apple TV and other product upgrades, and is expected to launch cloud computing technology based on iTunes, user-friendly access to multimedia content anytime, anywhere. Moreover, Jobs also said Apple expected to launch the Verizon version of the highly anticipated iPhone, which will increase market demand for iPhone.
Apple is still the fastest growing companies, the stock is not expensive. Economic downturn does not have any impact on Apple, in all fields of technology, Apple have a place.
Microsoft’s outlook for the better
next turned its attention to science and technology industry, one of the most valuable opportunity: Microsoft. The software giant last Thursday also released excellent results. The company’s June quarter revenue 16.04 billion U.S. dollars, not only higher than analysts expected nearly 10 billion U.S. dollars, growth rate reached 22%. Microsoft earnings per share in the quarter of 0.51 U.S. dollars, 0.05 U.S. dollars higher than analysts expected. Microsoft, each business has shown a double-digit revenue growth. The most notable is the Windows sector, thanks to the good performance of Windows 7, the sector in June quarter revenues increased 43.5%. Windows 7 now has reached 175 million units sold, that is, 15% of worldwide PC to use this system.
not only Windows 7, will be in search market share also increased, Microsoft’s online advertising revenue increased by 19%, higher than Yahoo’s growth rate over the same period. Microsoft also said, Office 2010’s made a good start, Microsoft Business Division and indeed the business achieved a 15% increase over the previous year.
later this year, the first operating system with Microsoft Windows Phone 7 smart phone will be available, but Kinect somatosensory system will also be added to our game.
, like Apple, Microsoft also has a large amount of cash reserves. And Microsoft will also pay dividends to investors, only in June quarter, Microsoft’s stock repurchase amount reached 3.8 billion U.S. dollars. Microsoft’s cash reserves and the total investment reached 38.4 billion U.S. dollars currently. Despite the company’s growth rate is less than Apple, but still maintained a good rate of expansion. Moreover, Microsoft’s stock is cheap indeed: according to Wall Street analysts on the Microsoft fiscal year 2011 earnings per share basis, the company’s stock price corresponds to the current 26 U.S. dollars the price-earnings ratio of only 11 times. Moreover, analysts still expected in the future may continue to rise.
Therefore, despite the industry have been discussing the importance of Apple’s market value beyond Microsoft, I still maintain that investors should also buy the shares of both companies. (Ding macro)
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