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From: benhorseman10/5/2017 8:49:37 AM
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Apple’s Hardware Problem – The AAPL Bear CaseAt its core, Apple is a hardware company, and that's a big risk for AAPL stock
By Vince Martin, InvestorPlace Contributor | Oct 5, 2017, 7:11 am EDT
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I’m a skeptic toward Apple Inc. (NASDAQ: AAPL) stock. So far in 2017, that skepticism has looked downright foolish, as AAPL stock’s price today is up 33% this year alone, even after a recent pullback.



Source: Apple

The bear case for AAPL stock is tough to make on the surface. Apple is the world’s most valuable company, ever. The company has more cash than it knows what to do with, and it’s the premier brand in the world. And yet Apple stock trades for 14x 2018 analyst EPS estimates — around 13x when backing out the company’s net cash.

Even right now, the market is pricing AAPL stock as if its growth will come to an end relatively soon. That seems almost ridiculous as consumers wait in anticipation for the $999 iPhone X. But if an investor understands the role of hardware in the future tech ecosystem, that possibility starts to make more sense, as does the low valuation of Apple stock.



AAPL Stock Relies Heavily on the iPhoneOne of my long-held concerns about Apple stock is its reliance on the iPhone. Ancillary products have come and gone. The iPod once was a profit center, iPad revenue soared and fell, and now Services sales are rising (+19% through the first three quarters of FY17). But no matter what the product, non-iPhone revenue simply hasn’t moved ($77.8 billion in 2012 and $78.9 billion in 2016).

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To: benhorseman who wrote (8923)10/5/2017 11:45:45 AM
From: Art Bechhoefer
   of 8949
 
Apple really isn't JUST a hardware company. Its ecosystem encourages users of its hardware to continue using it and upgrading. The ecosystem depends on software and services, such as iTunes. Looking only at the hardware end doesn't give a complete picture.

Art

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From: slacker71110/5/2017 12:15:30 PM
2 Recommendations   of 8949
 


For those who follow the voodoo of technical analysis, Qualcomm just poked its head up above the 50DMA for the first time since the end of June.

Slacker

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To: slacker711 who wrote (8925)10/5/2017 2:21:06 PM
From: Jon Koplik
   of 8949
 
JUMP OUT THE WINDOW !

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To: Jon Koplik who wrote (8926)10/5/2017 3:18:25 PM
From: Jeff Vayda
5 Recommendations   of 8949
 
Thank God the stock price is on the first floor!

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From: Jon Koplik10/10/2017 10:56:43 AM
1 Recommendation   of 8949
 
So ... maybe the world now knows Q should be over $100.00 ?

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To: Jon Koplik who wrote (8928)10/10/2017 11:15:32 AM
From: Art Bechhoefer
   of 8949
 
Not that quickly. Public (i.e., investor) opinion takes longer to change. It takes a catalyst, such as a defeat in court or in an issue going before a court, or in a ruling from a regulator (the EU, the KFTC, etc.). Those of us who have followed and invested in QCOM for the long haul (in my own case, since early 1992) do not represent the views of the average investor, but so what?

Art

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From: sag10/12/2017 12:03:02 PM
2 Recommendations   of 8949
 
Qualcomm will not voluntarily offer more SEP for 5g than are required by the standards body to get things moving along! This should eliminate many lawsuits moving forward and also allow Qualcomm to keep the best for their partners(trusted if any) and themselves.

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From: Jon Koplik10/23/2017 12:12:38 PM
4 Recommendations   of 8949
 
okay, silly message. Q up over $1.00. I'm going to explode (?)

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To: Jon Koplik who wrote (8931)10/23/2017 12:37:06 PM
From: Jeff Vayda
   of 8949
 
...Due to impact with ground below window?

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