The Critical Path #149: Whippersnapper
by Horace Dediu
From impressive iPhone sales to slowing iPad revenues, Horace and Anders recap the most recent Apple earnings. In the second half of the show, Horace answers listener questions from Twitter.
by Horace Dediu
From impressive iPhone sales to slowing iPad revenues, Horace and Anders recap the most recent Apple earnings. In the second half of the show, Horace answers listener questions from Twitter.
6 comments
BoydWaters ·
The Apple Earnings Call Pad-cast was great, sincere thanks for that and as always for this great podcast episode.
The listener question section was very interesting, and I like how some points were raised that you might not have considered addressing.
So I have one of my own:
Given Apple's in-repatriot-able cash pile, at what point does $AAPL become a takeover target?
Or is this not possible given the nature of the securities on the open market?
Ok, that's two questions, I suppose.
Horace Dediu ·
Why would the location of its cash change a firm’s vulnerability to acquisition?
BoydWaters ·
Location doesn't matter. The question was confusing, sorry. I keep in mind the repatriation issue because every mention of Apple's cash seems to bring up domestic monetary political issues. But that doesn't matter.
Is the market keeping $APPL low on purpose?
No, because the market is not capable of intentional action.
or
Yes, for some other reason I cannot think of.
Kiitos!
Horace Dediu ·
“The market” or “Wall Street” should not be personified. Think it of it as millions of people voting thousands of times a day. We don’t refer to an electorate as a person. Imagine if we did. Would you say “The Briton is a Conservative Tory?” or "The American likes Gay Marriage”. Once you separate the mechanism from its persona you have a chance to think clearly. By the way, the original personification of the stock market was a construct introduced in the 1950s, if memory serves.
randalleclayton ·
I think when Benjamin Graham introduced the allegory of Mr. Market his intention was to illustrate how the daily movements of the market are often irrational and the results of emotion. Nowadays it seems the 'wisdom of the crowd' notion has supplanted the manic-depressive Mr. Market.
BoydWaters ·
Here we go: some consequences of Apple's cash-repatriation dilemma.
http://www.aboveavalon.com/notes/2015/6/13/apples-cash-dilemma