Monday, January 7, 2013

MSFT: Microsoft Is Priced For PC Armageddon

Microsoft Is Priced For PC Armageddon
by Josh Arnold

Overview
Microsoft (MSFT) shares have been mostly range bound for the past three years, oscillating between $24 and $33. At the current price of about $27, shares have fallen precipitously from their March high of $32.95, a decline of greater than 17%. What has caused this decline? What catalysts exist that will get shares back on track? What is Microsoft actually worth? This article will attempt to use qualitative and quantitative evidence to answer these questions and assign a current value to Microsoft shares, given the outlook for future growth. Taking a look at the daily chart below from StockCharts.com, we see that MSFT may be trying to form a base around the $26.50 level, about where it trades now. read more »

More on MSFT

No Signs Of Further Squeeze In Value; Buy Microsoft by Globenum

An Overview Of Microsoft's Key Divisions And Our $42 Valuation by Trefis

U.S. DoD Signs New Deal With Microsoft To Bring Windows 8 To 75% Of Employees by TechCrunch

Other articles that mention MSFT

Intel: Google Partnership Could Pay Off Nicely by Ashraf Eassa

Amazing Returns: Velti, Alcatel-Lucent, Alpha Natural Resources by Tony Pow

Oracle Is Rapidly Converging To Our Fair Value Estimate by Valuentum


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Sunday, January 6, 2013

AAPL: Apple's Cash Horde Is An Asset, Not A Liability

Apple's Cash Horde Is An Asset, Not A Liability
by Adam Levine-Weinberg

The title of this article may seem to be a statement of the obvious. Cash and cash equivalents are accounted for as assets on a company's balance sheet. Yet a surprising number of investors appear to view Apple's (AAPL) massive cash horde as a negative for the stock. Recently, hedge fund manager Leon Cooperman of Omega Advisors jumped on this bandwagon. He told CNBC that several other stocks, such as Qualcomm (QCOM) and Google (GOOG) were now preferable to Apple, because of Apple's "financial policy". Cooperman's preference for Qualcomm over Apple seems particularly odd, as Qualcomm faces as much competitive pressure as Apple, or more, but trades at a higher valuation by most metrics. Like Apple, Qualcomm currently enjoys a dominant position in high-end smartphones, but is under threat from competitors: for Qualcomm, these include Intel (INTC), Nvidia (NVDA), and Samsung (SSNLF.PK). Qualcomm's competitors are well-financed, and Intel and Samsung enjoy potentially massive economies of scale. Like Apple, Qualcomm may be able to maintain earnings growth if it innovates more rapidly than the competition, but it faces three credible competitors, where Apple faces just one. So what could justify picking Qualcomm over Apple? read more »

More on AAPL

Apple Needs Product Diversification by George Kesarios

Forrester Report Says Apple Will Sell $39 Billion In Macs And iPads To Businesses Over Next 2 Years by TechCrunch

Apple: Great Artists Steal by Ashraf Eassa

Other articles that mention AAPL

Sprucing Up Your Buy And Hold Portfolio by Adam Aloisi

6 Market Predictions For 2013 From Bond Guru Jeff Gundlach by Learn Bonds

VIX - Options Volatility Sonar: Friday Recap by Erick McKitterick


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