Showing posts with label apple stock AAPL. Show all posts
Showing posts with label apple stock AAPL. Show all posts

Monday, 27 April 2015

Full transcript of President Obama’s White House Correspondents’ Association dinner toast




Good evening, everybody.
Welcome to the White House Correspondents’ dinner. A night when Washington celebrates itself. Somebody’s got to do it. And welcome to the fourth quarter of my presidency. It’s true — that’s Michelle cheering.
The fact is I feel more loose and relaxed than ever. Those Joe Biden shoulder massages — they’re like magic. You should try one. Oh, you have.

I am determined to make the most of every moment I have left. After the midterm elections, my advisors asked me “Mr. President, do you have a bucket list?”  And I said, “Well, I have something that rhymes with bucket list.”
Take executive action on immigration. Bucket.
New climate regulations. Bucket. It’s the right thing to do.
My new attitude is paying off. Look at my Cuba policy. The Castro brothers are here tonight. Welcome to America, amigos. Que pasa? What? It’s the Castros from Texas. Oh. Hi, Joaquin. Hi, Julian.
Anyway, being president is never easy. I still have to fix a broken immigration system, issue veto threats, negotiate with Iran. All while finding time to pray five times a day. Which is strenuous.
And it is no wonder that that people keep pointing out how the presidency has aged me. I look so old John Boehner’s already invited Benjamin Netanyahu to speak at my funeral.
Meanwhile, Michelle hasn’t aged a day. I ask her what her secret is and she just says “fresh fruits and vegetables.” It’s aggravating.
Fact is though, at this point my legacy is finally beginning to take shape. The economy is getting better. Nine in ten Americans now have health coverage. Today thanks to Obamacare you no longer have to worry about losing your insurance if you lose your job. You’re welcome, Senate democrats.

Look, it is true I have not managed to make everybody happy. Six years into my presidency some people still say I’m arrogant, aloof, condescending. Some people are so dumb. No wonder I don’t meet with them. And that’s not all people say about me. A few weeks ago, Dick Cheney says he thinks I’m the worst president of his lifetime. Which is interesting because I think Dick Cheney is the worst president of my lifetime. Quite a coincidence. I mean everybody’s got something to say these days.
Mike Huckabee recently said people shouldn’t join our military until a true conservative is elected president. Think about that. It was so outrageous 47 Ayatollahs wrote us a letter trying to explain to Huckabee how our system works.
It gets worse. Just this week, Michele Bachmann actually predicted that I would bring about the biblical end of days. Now, that’s a legacy. That’s big. I mean, Lincoln, Washington, they didn’t do that.

You know, I just have to put this stuff aside. I have to stay focused on my job. Because for many Americans this is still a time of deep uncertainty.  For example, I have one friend just a few weeks ago, she was making millions of dollars a year and she’s now living out of a van in Iowa.
Meanwhile, back here in our nation’s capital we’re always dealing with new challenges.
I’m happy to report that the Secret Service — thanks to some excellent reporting by white house correspondents — they are focusing on some of the issues that have come up. And, they have finally figured out a fool proof way to keep people off my lawn. [image of John McCain] It works. It’s not just fence jumpers. Some of you know, a few months ago, a drone crashed landed out back. That was pretty serious, but don’t worry, we installed a new state-of-the-art security system. [image of Joe Biden] You know, let me set the record straight. I tease Joe Biden, but you know he has been in my side for seven years. I love that man. [applause] He’s not just a great Vice President, he is a great friend. We’ve gotten so close in some places in Indiana, they won’t serve us pizza anymore. [laughter] [applause]
I want to thank our host for the evening, a Chicago girl, the incredibly talented Cecily Strong. [applause] On Saturday Night Live, Cecily impersonates CNN  anchor Brooke Baldwin, which is surprising, because usually the only people impersonating journalists on CNN are journalists on CNN. [laughter]

ABC is here with some of the stars from their big new comedy “Black-ish.” It’s a great show, but I have to give ABC fair warning, being black-ish only makes you popular for so long. Trust me. There is a shelf life to that thing.
As always, the reporters here had a lot to cover over the last year here on the East Coast. One big story was the brutal winner. The polar vortex caused so many record lows, they renamed it MSNBC.
But, of course, let’s face it, there is one issue on every reporters minds, and that is 2016. Already, we’ve seen some missteps.

It turns out Jeb Bush identified himself as Hispanic back in 2009, which, you know what, I — look, I understand. It’s an innocent mistake. It reminds me of when I identified myself as American back in 1961. [laughter] [applause]
Ted Cruz said that denying the existence of climate change made him like Galileo. Now that’s not really an apt comparison. Galileo believed the Earth revolves around the sun. Ted Cruz believes the Earth revolves around Ted Cruz.
And just as an aside, I want to point out, when a guy who has his face on a Hope poster calls you self-centered, you know you’ve got a problem. The narcissism index is creeping up a little too high.
Meanwhile, Rick Santorum announced that he would not attend the same-sex wedding of a friend or loved one, to which gays and lesbians across the country responded, that’s not going to be a problem. Don’t sweat that one. [laughter]
And Donald Trump is here. Still. [laughter]

Anyway, it’s amazing how time flies. Soon, the first presidential contest will take place, and I for one cannot wait to see who the Koch brothers pick. It’s exciting. Marco Rubio, Rand Paul, Ted Cruz, Jeb Bush, Scott Walker, who will finally get that red rose? [laughter]
The winner gets a billion dollar war chest. The runner-up gets to be the bachelor on the next season of “The Bachelor.”
I mean seriously, a billion dollars from just two guys. Is it just me, or does that feel a little excessive? I mean, it’s almost insulting to the candidates. The Koch brothers think they think to spend a billion dollars to get folks to like one of these people. It’s got to hurt their feelings a little bit. And, look, I know I’ve raised a lot of money too, but in all fairness, my middle name is Hussein. What’s their excuse? [laughter] [applause]
The trail hasn’t been easy for my fellow Democrats either. As we all know Hillary’s private e-mails got her in trouble. Frankly, I thought it was going to be her private Instagram account that was going to cause her bigger problems. [Shows photos of Hillary Clinton]
Hillary kicked things off by going completely unrecognized at a Chipotle. Not to be outdone, Martin O’Malley went completely unrecognized as a Martin O’Malley campaign event. And Bernie Sanders might run. I like Bernie. Bernie’s an interesting guy. Apparently, some folks want to see a pot-smoking socialist in the White House. We could get a third Obama term after all. It could happen.

Anyway, as always, I want to close on a more serious note. You know, I often joke about tensions between me and the press, but honestly, what they say doesn’t bother me. I understand we’ve got an adversarial system. I’m a mellow sort of guy. And that’s why I invited Luther, my anger translator, to join me here tonight.
[Applause: Keegan-Michael Key joins on stage.]
LUTHER: Hold on to your lily white butts!
OBAMA: In our fast-changing world, traditions like the White House Correspondents’ dinner are important.
LUTHER: I mean, really! What is this dinner? And why am I required to come to it? Jeb Bush, do you really want to do this!
OBAMA: Because despite our differences, we count on the press to shed light on the most important issues of the day.
LUTHER: And we can count on Fox News to terrify old white people with some nonsense! (inaudible) That was ridiculous.
OBAMA: We won’t always see eye to eye.
LUTHER: And, CNN, thank you so much for the wall-to-wall Ebola coverage. For two whole weeks, we were one step away from “The Walking Dead.” Then y’all got up and just moved on to the next day. That was awesome. Oh, and by the way, if you haven’t noticed, you don’t have Ebola!
OBAMA: But I still deeply appreciate the work that you do.
LUTHER: Y’all remember when I had that big old hole in the bottom of the gulf of Mexico, and then I plugged it? Remember that? Which Obama’s Katrina was that one? Was that 19 or was it 20, because I can’t remember.
OBAMA: Protecting our democracy is more important than ever. For example, the Supreme Court ruled that the donor who gave Ted Cruz $6 million was just exercising free speech.
LUTHER: Yes, it’s the kind of speech like this, I just wasted $6 million.
OBAMA: And it’s not just Republicans. Hillary will have to raise huge sums of money too.
LUTHER: Aw yeah, she’s going to get that money! She’s going to get all the money! Khaleesi is coming to Westeros! Watch out! Woo!
OBAMA: The non-stop focus on billionaire donors creates real problems for our democracy.
LUTHER: And that’s why we’re running for our third term!
OBAMA: No, we’re not.
LUTHER: We’re not?
OBAMA: No.
LUTHER: Who the hell said that!
OBAMA: But we need to focus on big challenges like climate changes.
LUTHER: Hey, folks, if you haven’t noticed, California is bone dry. It looks like a trailer for the new “Mad Max” movie up in there. Y’all think that Bradley Cooper came here because he wants to talk to Chuck Todd? He needed a glass of water! Come on.
OBAMA: The science is clear, the science is clear. Nine out of the 10 hottest years ever came in the last decade.
LUTHER: Now I’m not a scientist, but I do know how to count to ten.
OBAMA: Rising seas, more violent storms…
LUTHER: You got mosquitoes, sweaty people on the trains stinking it up. It’s just nasty!
OBAMA: I mean, look at what’s happening right now. Every serious scientist says we need to act. The Pentagon says it’s a national security risk. Miami floods on a sunny day and instead of doing anything about it, we’ve got elected officials throwing snowballs in the Senate.
LUTHER: Okay, I think they got it, bro.
OBAMA: It is crazy! What about our kids? What kind of stupid, short-sided irresponsible bull —
LUTHER: Whoa, whoa whoa, whoa!
OBAMA: What?
LUTHER: Hey!
OBAMA: What!
LUTHER: All due respect, sir, you don’t need anger translator. You need counseling.
LUTHER: And I’m out of here, man. I ain’t trying to get into all this.
OBAMA: Go.
LUTHER: [to Michelle Obama] He crazy.
OBAMA: Luther, my anger translator, ladies and gentlemen.
[Applause]
Now that I got that off my chest — you know, investigative journalism, explanatory journalism, journalism that exposes corruption and justice gives voice to the different and the marginalized, the voiceless — that’s power. It’s a privilege. It’s as important to America’s trajectory, to our values, our ideals, than anything that we could do in elected office.
We remember journalists we lost over the past year. Journalists like Steven Sotloff and James Foley, murdered for nothing more than trying to shine a light into some of the world’s darkest corners.
We remember the journalists unjustly imprisoned around the world, including our own Jason Rezaian. For nine months, Jason has been imprisoned in Tehran for nothing more than writing about the hopes and the fears of the Iranian people, carrying their stories to the readers of “The Washington Post,” in an effort to bridge our common humanity. As was already mentioned, Jason’s brother Ali is here tonight and I have told him personally, we will not rest until we bring him home to his family safe and sound.

[Applause]
These journalists and so many others view their work as more than just a profession, but as a public good, an indispensable pillar of our society, so I want to give a toast to them. I raise a glass to them and all of you, with the words of the American foreign correspondent Dorothy Thompson.
It is not the fact of liberty but the way in which liberty is exercised that ultimately determines whether liberty itself survives.
Thank you for your devotion to exercising our liberty and to telling our American story. God bless you. God bless the United States of America.

Wednesday, 10 July 2013

Zero Interest Rate Policy By the Fed: The Impact for Fixed Income Portfolios





TODAY LIVE JULY 10TH AT 4pm-5pm
Archive 
http://www.radio-shalom.ca/site/emissions-1042


  Money and Business with Samuel Ezerzer




INTEREST rates are very low around the developed world; near-zero in nominal terms and negative in real terms. This is part of a deliberate policy by central banks to discourage saving and encourage borrowing. It has also been seen as a way of boosting the stock market and thus as creating a wealth effect for individuals, and boosting confidence




Monday, 28 January 2013

Apple Shares Destroyed; Buy Opportunity Or Catching Falling Knife? And Apples Similar chart to Microsoft








Apple’s 1 year Supremacy as the No. 1 as the most valuable company ended after the shares slumped 17 percent this year, worse than any other companies in the benchmark gauge for U.S. equities. The stock decline  reduced its market capitalization to $413 billion, below Exxon Mobil’s $418 billion.




The rankings reflected a low confidence in Apple, whose 15 years of transformation from a near-bankrupt personal-computer maker to a technology leader dominating the smartphone and tablet market helped it become the most valuable U.S. company ever in 2012. 


Apple shares have fallen by 37 percent from a record in September amid concern that mounting costs and competition may curtail growth.





Duncan Davidson sais by now it is clear Apple (AAPL) has fallen off a cliff after a parabolic rise.  History says the fall will at least retrace the parabolic rise. We saw this recently with Crude Oil rising over several years into a parabolical peak at $147 (cash price), then falling in six months to $31 before bottoming. We saw this in 2000 with a bunch of tech stocks, and in particular the leader at the time, Microsoft (MSFT). Is AAPL, the leader in 2012, replicating MSFT, the leader in 2000? 


The charts are eerily similar (courtesy Bespoke):




In the first chart below, we compare MSFT's price action from December 1997 through December 2000 to AAPL's price action from September 2010 to present.  The chart is set up so that the peaks in price for each stock are reached on the same day.  As shown, if AAPL continues to trade like MSFT did, the stock is not even close to a bottom.  In the second chart below, we show the percentage drop from each stock's peak in price.  Within 106 trading days from its peak in late 1999, MSFT was down 48%, and it took 194 trading days for MSFT to fall 50%.  Apple is currently 85 trading days removed from its all-time high.
Is Apple Taking the Microsoft Path?

Analyst Gene Munster believes there are three main reasons why the stock traded down after hours on Wednesday:

1. iPhone units were below buy-side expectations of about 50 million.
2. Apple's new guidance methodology, employed for the first time on Wednesday, does not appear to leave room for "wild upside."
3. Based on the latest guidance, it's likely that gross margins will be down sequentially in March.

Because of the new gross margin guidance, Munster has reduced his projected calendar year 2013 revenue for Apple by 4 percent to $196.4 billion. He's also reduced his price target for AAPL stock from $875 to $767, but maintained an "overweight" rating.

Topeka Capital Markets

Brian White also lowered his price target, given recent reductions in Apple's share price, from $1,111 to $888. But he remains bullish on the company and recommends that investors buy, with Apple's "recent rough patch" behind it and the company now "poised for better luck."

After Apple dropped 10 percent in after-market trading, it was trading at less than six times, excluding cash, White's calendar year 2014 earnings per share estimate.

"We believe there is quite a bit of bad news priced into the stock at current levels," 


Wells Fargo

Maynard Um said Apple's new way of providing guidance is "sparking fears" among investors, and could mean the end of "material upside to guidance." While it could create uncertainty in the near future, Um sees the resetting of Wall Street estimates as a good thing.

He also believes that the toughest year-over-year comparisons for Apple begin to ease in the second half of 2013. He also believes that greater economies of scale, presuming the next-generation iPhone has the same design as the iPhone 5, will improve the company's gross margins.

Wells Fargo has maintained its "outperform" rating for AAPL stock, but lowered its valuation range for the company to between $600 and $630.


ISI Group


Brian Marshall admitted he has taken a "hatchet" to his calendar year 2013 estimates for Apple. His new earnings per share estimate for the company's calendar year 2013, for example, was cut 15 percent from $50 to $42.50.

Marshall believes that a lower-priced iPhone geared toward developing markets is "paramount to financial re-acceleration" for Apple. He believes Apple could sell an iPhone with a wholesale price of about $300 while still maintaining gross margins around 40 percent.

"We believe the end result would be price elasticity kicking in and driving a new phase of revenue/earnings re-acceleration, and AAPL shares would likely get their 'mojo' back," he said.

Morgan Stanley


Katy Huberty reiterated her overweight rating for Apple, calling the company's medium-term risk-reward an attractive option for investors. However, near-term catalysts for the company are limited, she admitted, as Apple faces tougher comparisons in the first quarter of calendar 2013.

As a result of this, Morgan Stanley has removed AAPL stock from its "Best Ideas" list for investors.

Huberty believes catalysts for Apple will begin in the company's June quarter, including an anticipated iPhone refresh, new iPads, and expanded carrier partnerships. She also noted that every $5 billion in share buyback conducted by Apple is expected to reduce the share count by 1 percent.

Needham & Co.


While most analysts have cut their price targets, Charlie Wolf reiterated his $750 target this week following Apple's earnings. He will, however, review the target in February, opting to not react immediately to the company's earnings.

But Wolf did reduce his fiscal 2013 earnings estimate to $45.70 billion, citing supply constraints on several products that have "put a damper on revenue growth."

"The ongoing risk in the Apple story continues to be whether the company can innovate at the same pace and with the same disruption that occurred during the Steve Jobs era as CEO," he said. "The price action of the stock following the release suggests the market does not believe it can."



Apple CEO Tim Cook and CFO Peter Oppenheimer hosted Wednesday's call.

J.P. Morgan


Mark Moskowitz believes Apple's fundamentals and investor expectations continue to diverge. As such, he was "surprised" by the "sharp correction" that the company's stock took in after-hours trading on Thursday.

Moskowitz has reiterated J.P. Morgan's overweight rating for AAPL with a December 2013 price target of $725 holding fast.

"Without splitting hairs too much, we think the new guidance commentary is not much of a change and could restore beat-and-raise potential to the model," he said.

Moskowitz also believes the iPhone growth story is "far from over," particularly if supply constraints ease quicker than expected and LTE network expansion continues across the globe.

Deutsche Bank


Chris Whitmore isn't surprised that Apple's guidance for the March quarter was soft. But with the company at a "critical junction," he's reduced his price target to $575.

He believes Apple would be better served to introduce a lower-priced iPhone, which would allow the company to adopt what he called a "good, better, best" segmentation strategy.

In addition to prepaid markets, Whitmore believes there is substantial growth for Apple in larger form factor smartphones with screens larger than 5 inches.

Evercore Partners


Apple may be slowing, but the company is still growing, analyst Rob Cihra said. He has maintained an overweight rating for AAPL, but trimmed his price target from $750 to $675.

"We continue to see Apple effectively creating its own growth through innovative hardware+software engineering in a sea of otherwise commodity products, but now needing to digest the law of large numbers," he said. :Perhaps foremost, Apple's M.O. to date has been to cream the high-end off each market, but as the company's grown it may now need to target more of the mainstream."

RBC Capital Markets


Amit Daryanani believes Apple is "bent, not broken." He said this week's results are a sign that Apple is executing well as they shift to becoming what he called a "normal growth company."

But RBC has trimmed its price target for AAPL to $600, down from $725. The firm has maintained its "outperform" rating.

Canaccord Genuity


Michael Walkley believes Apple has a strong product pipeline that will reaccelerate the company's year-over-year earnings growth during the June quarter. The firm has reiterated its buy rating, but lowered its price target to $650.

Walkley believes Apple's "soft" guidance for the March quarter is a result of ramping supply of the iPhone 5 during the December quarter, along with what he believes could be an earlier-than-expected product transition for the iPhone in the first half of 2013.

JMP Securities


Alex Gauna has been known for a bearish outlook on Apple even in the company's best quarters. Following this week's results, he maintained JMP's "market perform" rating on the company's stock.

"We remain fundamentally neutral on the stock which we see as caught between the merits of its dividend yield that is approaching 2.5% and the risks to forward growth stemming from intensifying levels of competition, management changes, and execution miscues," he said.













Mark Moskowitz


Mark Moskowitz News