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To: mindy1968 who wrote (110868)4/3/2012 10:49:45 AM
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Security - interesting news re ARM, but I thought VHC already had a system that met standards for mobile security

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From: Bill Wolf4/3/2012 12:36:22 PM
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April 3, 2012, 12:25 pm
ARM in Partnership to Secure Mobile Payments

ARM, the London-based company that designs the chips in most of the world’s smartphones, announced a partnership on Tuesday with two other companies to improve security for mobile services. This would lay the groundwork for companies to more easily build secure mobile payment services into smartphones and other devices.

In addition to ARM, the joint venture includes Gemalto and Giesecke & Devrient, which both make security tools for payment technologies. They will create technical standards for a “security environment” in an area inside the chip where sensitive data is stored, processed and protected, according to Ben Haber, a spokesman representing ARM.

In other words, sensitive data like your credit card information wouldn’t live in the same place as the rest of your data, and you would use payment services inside this secure area as well. This would be invisible to the everyday consumer, but if businesses embrace the standard, it could lead to a steady stream of new mobile payment services.

“The integration of the hardware, software and services necessary for system-wide security has been slow,” Warren East, chief executive of ARM, said in a statement. “I am confident that this new joint venture will accelerate the adoption of a common security standard, enabling a vibrant ecosystem of secure service providers to emerge. This will be a significant step in terms of improved consumer trust in secure transactions on connected devices.”

Google Wallet, the mobile payments system for Android phones, was recently scrutinized for a security flaw. In February, a blog discovered that a simple procedure enabled anyone to gain access to funds stored in Google Wallet. The Google prepaid card was attached to the device itself, not a specific account, so if you lost your Android phone or sold it, all someone would have to do is reset the Google Wallet settings and enter a new PIN to start spending your money. A mobile security environment would presumably help prevent something like that from happening.

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From: Thehandle304/3/2012 7:08:36 PM
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how will what we heard from SNDK after hours effect Q in the next few days? thoughts anyone?

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From: mindy19684/3/2012 11:05:53 PM
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And my new price target for Apple is..."

My price target for Apple ($AAPL) is $2275. I got there by looking at a telephone keypad and taking the digits from the A, A, P and L of the ticker symbol.

Clever, huh?

Mark Robertson at Manifest Investing shot me an email this morning and noted the parallels between the current Apple price target steeplechase and what went on with Qualcomm in 1999 – it got to a point where every day analysts were elbowing each other out of the way, jostling to be the high target on The Street. It didn’t end well for stock buyers, despite the fact that Qualcomm had a decade of growth ahead of it and a rock-solid business in the fast-growing wireless game.

Brian White was covering Apple for Ticonderoga, a brokerage that went under a few weeks back. Before the end of his firm, White’s price target on Apple was $666 (gimmicky? check!) He’s just joined a new firm, called Topeka Capital Markets and has decided to make a splashy entrance – his new Apple target, just a few weeks later, has magically become $1001 (get it, like Arabian Nights!). Now that’s how you get attention, every media outlet picked it up (which normally doesn’t happen for Topeka Capital Markets, I’m assuming).

This morning Gene Munster at Piper Jaffrey went for the gold. To recap, Munster has been bullish on Apple the whole way up, recommending a buy on every catalyst and every dip. he’s been right and people who’ve listened to him have made a lot of money. Today’s latest pronouncement from the analyst is (via Notable Calls):

Munster believes shares of AAPL will reach $1,000 in CY14, which would imply a roughly 1 trillion dollar market cap, the first in history. While some investors believe the biggest issue for AAPL to get to $1,000 is the market cap along with excessive investor exuberance, which Munster addresses in this note, he believes the real story is earnings growth. Fundamentally, he believes shares can reach $1,000 based on his belief Apple will continue to win in global mobile devices. As a result, Munster remains confident in his $80.18 CY15 estimate. A 12x multiple (stock’s current out year EPS multiple) on his CY15 EPS of $80.18 yields $960; however, this excludes an Apple Television, which the analyst believes could add more than $4 in EPS (5%) by CY15, which would yield over a $1,000 share price (12 * ~$84).

Now this is a perfectly reasonable thesis, of course, driven as it is by valuation, earnings expansion and the conquest of new markets. I should add that I’m long so I certainly hope he’s right. Munster is aware of the fear that Apple is over-owned and over-loved, but says the near-universally rosy sentiment has not yet translated into an obscene multiple. Okay, that’s fair.

But $1000 targets, “trillion dollar calls” and the like just smack of gimmickery. Maybe I’m too cynical and have seen too many goldilocks stocks get kneecapped just when the buy-recs-for-attention thing begins to roll.


Apple: Topeka Starts at Buy, $1,001 Price Target (Tech Trader Daily)

Apple (NASDAQ:AAPL): Why We Believe Apple Will Be The World’s First Trillion Dollar Company – Piper Jaffray (Notable Calls)

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To: mindy1968 who wrote (110874)4/3/2012 11:08:57 PM
From: mindy1968
   of 147153
And CNBC also did a couple of minutes on Qualcomm's meteoric rise in 1999 after the analyst predicted
a share price of $1000 because Q technology would be in all 3G phones.

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From: mindy19684/4/2012 8:02:23 AM
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Qualcomm, Intel Provide Source Code in Patent Fight, Apple Says

By Joe Schneider - Apr 4, 2012 4:38 AM ET
Intel Corp. (INTC) and Qualcomm Inc. (QCOM) have provided U.S. lawyers with source code that will help prove Apple Inc. isn’t infringing patents of Samsung Electronics Co. (005930), an Australian lawyer for the maker of iPhones said.

Attorneys in the U.S. have inspected the code and Intel and Qualcomm have agreed to provide it to lawyers involved in a patent dispute in Australia, Andrew Fox, Apple’s lawyer, said at a hearing in Sydney today.

“Further non-infringing arguments can be made from that” disclosure of the source code, Fox said today.

Apple and Samsung, the largest maker of mobile phones, are preparing for the start of a trial in which the companies accuse each other of infringing patents. They have filed at least 30 suits on four continents against each other in the past year after talks initiated by former Apple founder Steve Jobs to resolve the disputes broke down.

Apple, based in Cupertino, California, successfully delayed the release of Suwon, South Korea-based Samsung’s Galaxy 10.1 tablet in Australia for four months last year, claiming it infringed patents over touch screen technology and “slavishly” copied its designs. Australia’s High Court allowed the Samsung tablets to go on sale on Dec. 9.

Samsung claims some of Apple’s iPhones and iPads infringe its patents over wireless transmissions.

Apple is Samsung’s single biggest customer, responsible for 7.6 percent of the company’s revenue, according to data compiled by Bloomberg.

Additional Judges

The Australian trial, scheduled to begin July 9 and to run through Oct. 12, may tax the Sydney federal court, Justice Annabelle Bennett said at today’s hearing over the disclosure of documents.

“It’ll make other cases in this court look like babies,” Bennett said.

The trial may require more than one judge and Bennett said she is considering finding a court-appointed expert to provide testimony at the trial.

“I was never a fan of the idea,” she said. “But it needs, logistically and practically, to happen.”

The case is: Apple Inc. (AAPL) v. Samsung Electronics Co. NSD1243/2011. Federal Court of Australia (Sydney).

To contact the reporter on this story: Joe Schneider in Sydney at

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From: Bill Wolf4/4/2012 8:21:29 AM
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Nokia’s Lumia 900: ‘Handset of the Future,’ ‘Mixed Bag,’ Say Reviews; Will It Fuel Comeback?
By Tiernan Ray

The reviews are in: Nokia‘s (NOK) Lumia 900, running Microsoft‘s (MSFT) “Windows Phone 7,” goes on sale exclusively at AT&T (T) next Monday and those reviewers who’ve been granted a unit were unleashed last night to write what they thought. I’ll have my own review later this week, but for now, let’s see what they said.

In sum:

Wall Street Journal: It’s a “mixed bag.” “Provides the best home yet for the attractive Windows Phone software, but still doesn’t measure up to rival smartphones.”

Engadget: It’s “yet another decent offering” in AT&T’s lineup of 4G phones, but “too plain, too ordinary,” to really be a flagship phone for Nokia.

USA Today: The competition is formidable, but at $99, and with a fresh operating system, “Nokia may be well on the way to crafting a compelling comeback story.”

Gizmodo: “A phone that every single person should consider owning. It’s so quick and elegant […] Sure, the apps could be better, and there are occasional imaging inaccuracies and overblown colors. Let them overblow. You’re holding a pixel feat.”

Ars Technica: “Deserves to be taken seriously,” and much better than most Android phones in the same price range. May lure first-time buyers, although the subtlety of the UI may get to them over time. For those looking for the best phone at any price, “As of right now, it’s still a little too much form over function to beat [iOS and Android] at the game they invented.”

The Verge: “I really wanted to love this phone [...] But while the hardware — at least externally — delivers, the phone as a whole does not.” Nokia “hasn’t lost its ability to enchant through hardware.” But “after nearly two years on the market, I struggled to find a single thing this platform [Windows Phone] could do better than Android 4.0 or iOS 5.1 […] The sheen has worn off of Windows Phone for me.”

Walt Mossberg, The Wall Street Journal: Despite the 900's larger size, it was comfortable to hold. The LTE connection got 10 megabits to 15 megabits per second on the download, which Mossberg describes as being faster than most home Wifi connections. Mossberg was “underwhelmed” by the battery life, the browser, and its photo-taking ability. Regarding the camera, “despite having the same resolution as the new iPhone, took notably worse pictures of the same scenes in my tests. To my eye, colors were oversaturated, and details were less sharp.” The “ecosystem” for content is weak, with no ability to download TV shows and movies, and fewer magazine and newspaper apps. The Metro UI, however, is “refreshing.” The biggest issue for Mossberg was that on WiFi, the Web browser stalled sometimes when loading pages, something other phones didn’t do and that Nokia couldn’t explain. The screen resolution of 800 x 480 was not as sharp as the iPhone, he notes, and the polarizing filter for making the screen more readable in direct sunlight delivered only modest improvement.

Joseph Volpe, Engadget: He’s a mite disappointed that the smooth contour of the 900's predecessor has been degraded somewhat by having the screen rise a hair above the polycarbonate frame of the device, rather than being flush with the body, as with the 800. Still, the solid construction and some fine details such as the carving of the speaker grill are pleasing. Althoug the phone is generally zippy in terms of the Windows UI, it actually scores not as well on some benchmarks. More to the point, the operating takes its own leisurely time strolling through its animations, rather than the snappy feel of some other phones, including the 800. Battery life was decent, perhaps giving real-world use of as much as 72 hours on a charge, despite the machine having a 4G LTE connection. Volpe praises the 8-megapixel camera, writing that it “displays a knack for depth of field, crisp replication of detail and balanced color.” LTE speeds on average ranged from 17 to 20 megabits per second.

Ed Baig, USA Today: He likes the software, he likes the hardware. Images with the camera were “all over the map.” Windows Phone is “fresh and different from iOS and Android and offers a strong alternative to the status quo.” he notes the weight of 5.6 means it’s not the lightest among smartphones. He got through a day of “mixed usage” with a single battery charge. The 70,000 apps available in Microsoft’s “Marketplace” store is “respectable.” Despite the single-core apps processor from Qualcomm, the phone’s performance “never felt like a laggard.”

Sam Biddle, Gizmodo: The Lumia is “a beautiful object,” a “handset of the future” given the “spaceship hardware” and “super-futuristic Metro vibe.” There’s too much to enjoy to worry about the specs, he writes. Nokia has managed to take the best design aspects of the 800 and “broaden” them. He tried tossing it in the air in a muddy field, and it turned out fine. The LTE connections were “swift,” around 10 megabits per second, on average. Photos were “sharp and vidid” on the screen and it was a pleasure to swipe through the UI. Internet Explorer was “on the slow side.” The top-tier apps for the phone “need polish.” The camera is “okay-I-guess,” with pictures “often over-saturated, washed out, or underexposed.”

Casey Johnson, Ars Technica: The operating system has some maturing to do and although power users will find things to like, they “may not be won over.” The “screen margins and casing” make it “feel bigger than you might expect,” but the “velvety” texture makes it easy to hold. Call quality is “fine,” no different from the iPhone, while the speaker is “pretty quiet.” Taking pictures is “cumbersome” because the shutter release is tied to the tap-to-focus gesture. The camera maintains better focus than the iPhone at different distances. Johnson was a little “dismayed” at first by how the pictures looked on the camera screen, but found they can stand up to the iPhone’s. “In closeups and dim scenarios” the camera “stumbles.” The screen is a magnet for fingerprints and the lack of “oleophobic” capability is “glaring.” Windows Phone is easier to use out of the box as far as its integration of Twitter and Facebook. And threaded messages between text and Facebook preserve one of the best aspects of Palm’s webOS’s messaging function. Some erroneous interpretations of swipe gestures are annoying, as is hiding the status bar at the top of the screen, but they are “minor points.” Windows Phone “needs to play catchup” with other alerts systems such as iPhone’s “Notification Center.” The browser is one of the weak spots, sometimes three times slower than other browsers, and a bit “janky” in rendering text. In general Windows has two problems, writes Casey, the overly “subtle” hiding of clues or cues, relying too much on intuitive touch; and the overly dense arrangement of some information, as “Often apps split too much between too many menus, requiring several swipes to access all of the options.” The battery delivered “pretty healthy performance,” with about 12 hours of “stop and go” use on a single charge.

Joshua Topolsky, The Verge: The hardware design is “gorgeous,” “beautiful,” “it may be the best looking phone on the market right now,” and a “breath of fresh air.” Topolsky had “very little to complain” about as far as the design and materials. Despite unremarkable specs, the Lumia was “snappy and responsive, with few (if any) hiccups or pauses.” The display was a disappointment, being overly saturated in addition to being lower resolution. Despite Nokia’s long history of great optics, the phone does not excel in the camera department. The rear camera pictures “just weren’t particularly good […] it’s really simply mediocre.” Topolsky was “pleasantly surprised” by battery life. There was “no problem” getting through a day of calls, email, Twitter and browsing on LTE on a single charge. Data speed was “pretty awesome,” with downloads as high as 19 megabits per second. There were no dropped calls, and quality was “crisp and clear.” Topolsky’s main beef is with Windows Phone, and he says it’s time to “stop giving the software a pass.” “At the end of the day, Windows Phone is just not as competitive with iOS and Android as it should be right now.” The software is “death by a thousands cuts,” including erratic scrolling in third-party apps, and despite multitasking, it doesn’t actually feel like apps are waiting. Internet Explorer seems “incapable of rendering certain web elements properly.”


Copyright 2011 Dow Jones & Company

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From: mindy19684/4/2012 9:54:22 AM
   of 147153
SanDisk Blowup Highlights Apple and Samsung's Smartphone Industry Dominance

By Michael Comeau Apr 04, 2012 9:25 am

Sandisk significantly lowered guidance after the close, likely as a result of insufficient exposure to Apple and Samsung.

Shares of SanDisk (SNDK) are getting smacked down today after the flash-memory giant preannounced lousy first-quarter results.

SanDisk now expects to report first-quarter revenues of $1.2 billion versus prior guidance of $1.3 to $1.35 billion, and consensus of $1.3 billion. Additionally, gross margins are now expected to come in below the 39% to 42% range to which the company guided on January 25.

And keep in mind, that guidance SanDisk issued back in January in conjunction with its fourth-quarter results was disappointing itself -- so SanDisk is now on a bit of a losing streak.

Back then, SanDisk noted that some OEM customers weren't ordering as much as expected. Yesterday it echoed that revelation in its press release by attributing the current weakness to "weaker than expected price and demand."

Translation: We don't do enough business with Samsung and Apple.

Back in January, using data from the market-research firm Strategy Analytics, we concluded that Samsung and Apple accounted for a whopping 86% of smartphone industry growth in the fourth quarter of 2011. (See: Samsung and Apple Now Account for 86% of Smartphone Industry Growth.)

Research In Motion (RIMM), Nokia (NOK), Motorola (MMI), and HTC have all seen their sales fall off significantly, and in some cases, those sales are actually declining.

Samsung and Apple are the only guys still standing, as you can see in this chart:

So here's the problem.

What does SanDisk make? Flash.

But so does Samsung!

And not only does Samsung supply flash for its own phones and tablets, it supplies flash to Apple as well!

Now, SanDisk was listed as a supplier in Apple's 2011 supplier list. And SanDisk did use pictures of Apple's iPad and iPhone on a slide in its February 16, 2012 analyst day presentation:

However, there is no indication that this a significant relationship. In fact, the only Apple product teardown I can recall that revealed SanDisk memory was last year's iPod Nano.

For all we know, Apple could be using SanDisk flash instead of Samsung's or Toshiba's (note: Toshiba is also a key Apple supplier) for some of its production. But if Apple is making sizable purchases of SanDisk flash, shouldn't SanDisk be doing better?

Therefore, it is very reasonable to conclude that SanDisk has insufficient business with the two most important mobile gadget companies in the world.

So what do we take away from this?

From an industry perspective, I can't emphasize enough that there is no Google (GOOG) Android smartphone bull market. There is, however, a bull market in Samsung phones powered by Android. (See: The Samsung Bull Market Just Replaced the Android Bull Market.)

So if you own any semiconductor stocks, make sure they're doing big business with Samsung and/or Apple. At this point, Qualcomm (QCOM) seems like the safest bet as it has significant design wins with both companies, and should benefit from the smartphone/tablet markets' evolution from 3G to 4G.

Twitter: @MichaelComeau

Read more:

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From: Bill Wolf4/4/2012 11:08:12 AM
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Foxconn Recruiter: We’re ‘Hiring’ For A June iPhone 5 Launch

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From: Bill Wolf4/4/2012 12:43:31 PM
   of 147153
AT&T, Nokia pushed Microsoft to add LTE to Windows Phone for Lumia 900
By pgoldstein
Created Apr 4 2012 - 10:57am

AT&T Mobility (NYSE:T [1]) and Nokia (NYSE:NOK [2]) spurred Microsoft (NASDAQ:MSFT [3]) to add LTE support to its Windows Phone platform and provide it for Nokia's flagship Lumia 900, according to a CNET report.

As the companies eagerly await the launch of the device, which will go on sale April 8 for $99.99 with a two-year contract, more details are emerging about how the Lumia 900 came into being. AT&T and Nokia pressed Microsoft to add LTE to its roadmap last year before it was ready to do so.

"It certainly wasn't something they [Microsoft] planned for," Jeff Bradley, AT&T's senior vice president of devices, told CNET. "When you have a plan and [are] working to execute it, and someone comes in and tells you to come up with a new plan, it's tough." According to the report, Nokia lent research and development support to the effort to make sure the phone had top-of-the line specs, including support for the next-generation network technology. (AT&T will also launch the LTE-capable HTC Titan II Windows Phone April 8 for $199.99 with a two-year contract)

AT&T has said it plans to make the launch of the Lumia 900 its biggest phone launch ever, beyond even the iPhone. The effort is critical to Nokia and Microsoft, which are both working to ignite sales of Windows Phone devices, which have so far been sluggish.

Meantime, the first formal reviews for the Lumia 900 have started to roll in, and they are largely positive, though there are also some vocal critics of the device. "Should you get the Lumia 900? That depends on your own personal needs of course. And if you just don't care for Microsoft's fresh take on mobile user interfaces, this clearly isn't the phone for you," wrote Kevin Tofel at GigaOM. "But if you're even remotely interested in what a solid Windows Phone can do, you should at least look at the Lumia 900 to experience the unique Metro user interface for yourself. Right now, I can't think of a better Windows Phone to try out or buy. I'm so impressed with what Nokia has put together that I'm considering adding a Lumia 900 to my own collection at the full $449.99 price."

"Even at twice the price, the Lumia 900 would be a creditable challenger to Android phones from the likes of Samsung, Motorola (NYSE:MMI [4]) Mobility and HTC," wrote Rich Jaroslovsky for Bloomberg. "It may not be enough to restore the mobile fortunes of Nokia and Microsoft, but for $100 it's a premium product at a value price, and well worth considering."

Others, however, were less impressed, and placed the blame on the Windows Phone operating system itself, such as poor scrolling within apps, poor rendering of Web pages and clunky multitasking experience. "I think Nokia made a lot of the right decisions, but it's almost impossible to move beyond some of Windows Phone's shortcomings this late in the game," wrote Joshua Topolsky at The Verge. "Try as I might to envision the Lumia 900 as my daily driver, the math never added up. There's just too much missing, or too much that feels unfulfilling."

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