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Is Apple In A Free Fall?

May 26, 2016 by  
Filed under Smartphones

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Apple shares are continuing to fall as more investors realise that the share price is not going to go up any more.

For a while now people have been buying Apple shares with the expectation that they will always go up. This always was largely based on a fantasy created by the Tame Apple Press that assumed the company would keep coming up with new technology ideas which would always be successful.

However lately Apple has not come up with any new ideas and has taken to re-issuing its old phone designs. It has also been floundering in its key Chinese market. The company’s only new idea has been for content creation through its Apple Music streaming brand. The only problem with that is that the software has been killing off user’s iTune libraries.  It has also been banned in China which means that hopes that Apple would make money there are still thwarted.

Shares of Apple dropped below $90 on Thursday for the first time since 2014 as Wall Street worried about slow demand ahead of the anticipated launch of a new iPhone later this year. Some more reasonable analysts even think that the iPhone 7 is going to be a disaster because it lacks any new tech and has the same design as the poor performing iPhone 6S

Component suppliers in Taiwan have confirmed that they have received fewer orders from Apple in the second half of 2016 than in the same period last year.

Rosenblatt Securities analyst Jun Zhang saidt that investors were getting negative data points about component orders and production forecasts, and the features on the new iPhone do not seem to be a big change from the 6S.

Apple briefly relinquished its position as the world’s largest company by market capitalisation to Alphabet – oh the horror.

At the close, Apple and Google each had market values of about $495 billion, according to Thomson Reuters data. In the past year, Apple’s market capitalization has fallen by more than $200 billion. Which just goes to show this whole value thing was an illusion.

Suppliers of iPhone components also fell, with Skyworks Solutions off 4.54 percent, Broadcom down 1.95 percent and Qorvo declining 1.76 percent.

Revenue from China slumped 26 percent during the March quarter. Apple faces increasing competition from Chinese manufacturers like Xiaomi and Huawei selling phones priced below $200, Rosenblatt’s Zhang said.

Last week, Dialog Semiconductor, which sells chips used in iPhones and other smartphones, cut its revenue outlook due to ongoing softness in the smartphone market.

The Tame Apple press is trying to do its best to find analysts who recommend buying the stock claiming it is too cheap.However how much should you pay for an outfit which has milked its cash cow and has nothing new on the horizon.

Courtesy-Fud

Sprint Confirms Jobs To Be Cut 

November 17, 2015 by  
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Sprint Chairman and SoftBank CEO Masayoshi Son has confirmed that job cuts at Sprint will be “in the thousands” as part of a restructuring plan.

His comments came as SoftBank, which owns more than 70% of Sprint, reported its quarterly earnings.

“Sprint is now in the position to increase the pace of user acquisition while cutting costs,” Son said, according to Bloomberg and other news sources. “We will also cut staff. The cuts will be in the thousands.”

Son’s comments are not out of line with things Sprint CEO Marcelo Claure has been telling Sprint workers for months.

On Tuesday, Sprint’s stock price sagged downward after an earnings report included a statement saying that the carrier plans to cut $2 billion or more in operating expenses for its 2016 fiscal year, which begins in April.

Son also said the $2 billion is a “minimum target” and should be the amount slashed annually, according to a report by The Wall Street Journal. The company now has more than $25 billion in annual costs.

Sprint has been investing in attracting new customers — an effort that has been costly but effective. On Tuesday, Sprint reported it gained 237,000 postpaid phone customers in its second fiscal quarter, which ended Sept. 30. It was the first time the company had showed gains on that measure in two years. It also reported its lowest customer cancellation rate in company history.

In November 2014, Sprint had said it would cut 2,000 jobs as part of $1.5 billion in cost reductions. That announcement came after Sprint had cut 5,000 jobs from January through September 2014. The company had 31,000 workers at the start of its current fiscal year on April 1.

Source- http://www.thegurureview.net/mobile-category/sprint-confirms-thousands-of-jobs-to-be-cut.html

Steve Ballmer Believes In Twitter

October 28, 2015 by  
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Ex Microsoft Corp  Chief Executive Steve Ballmer has purchased a 4 percent stake in Twitter Inc, according to his spokesman, making him the third-biggest individual shareholder in the social media company.

Ballmer’s stake is worth more than $800 million based on Twitter’s $21 billion market value. Only co-founder Evan Williams and Saudi billionaire Prince Alwaleed bin Talal have greater stakes among individual investors.

Friday Ballmer tweeted from a non-verified account that he built up his stake over the past several months.

His tweet lauded Twitter’s new ‘Moments’ feature, which curates the best tweets of the day, and Dorsey’s appointment as permanent CEO last week.

“Good job @twitter, @twittermoments innovation, @jack Ceo, leaner, more focused,” the tweet said. “Glad I bought 4% past few months.”

Twitter declined to comment. Ballmer himself did not return requests for comment.

Ballmer, who bought the Los Angeles Clippers basketball team after retiring as Microsoft CEO in February 2014, has a personal fortune of about $21.5 billion, making him the 35th richest person in the world, according to Forbes magazine.

Ballmer now owns more of Twitter than co-founder and CEO Dorsey, who has a 3.2 percent stake, according to Thomson Reuters data. Williams is the largest individual shareholder with about 7.5 percent, followed by Alwaleed with about 5.2 percent.

Like @alwaleedbinT move too,” Ballmer’s tweet said. Alwaleed and his investment firm, Kingdom Holding Co 4280.SE, said earlier this month they had raised their stake in Twitter to more than 5 percent.

Ballmer’s investment is a sign that Twitter’s efforts to revive growth under Dorsey is being appreciated, Monness, Crespi, Hardt, & Co Inc analyst James Cakmak said.

“I think it’s just another point of evidence that the step that they are taking to redirect the business toward growth is resonating,” Cakmak said.

Twitter has made several new announcements since Dorsey, who also served as CEO in 2008, returned on a permanent basis last week. On Tuesday, Twitter said it will lay off about 8 percent of its workforce and on Wednesday, it hired Google Inc executive Omid Kordestani as executive chairman.

FBN Securities analyst Shebly Seyrafi said Ballmer’s stake could be indicative of widespread confidence in Dorsey and his strategy.

Source-http://www.thegurureview.net/aroundnet-category/steve-ballmer-believes-in-twitter.html

Is EA Shuttering It’s Free To Play Model?

April 27, 2015 by  
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EA is shuttering four high-profile free-to-play games, all of them allied to popular IP like Battlefield and FIFA.

Battlefield Heroes, Battlefield Play4Free, Need for Speed World and FIFA World will all continue for another 90 days, at which point they will be taken offline for good. Further development on the games has stopped already.

“In more than five years since most of these titles launched, how we play games has changed dramatically,” said Patrick Soderlund, EVP of EA Games, in a statement. “These were pioneering experiences, and we’re humbled that, over the years, so many of you joined us to enjoy the games and the community.”

In terms of EA’s growing interest in free-to-play models, the real pioneer among that group is Battlefield Heroes, which was pitched at “frustrated, restricted” gamers back in 2008. Need for Speed World and Battlefield Play4Free followed, launching over the second half of 2010.

By the start of 2012, EA was reporting a combined total of 25 million players across the six games in its “Play4Free” initiative, with Battlefield Heroes and Need for Speed World contributing 10 million players each.

However, FIFA World is by no means a forerunner. It only reaching open beta late in 2013, and so it is being shuttered after substantially less than two years of public availability. This wouldn’t imply a slow decline in interest, but a lack of interest in the first place.

That’s in stark contrast to FIFA Online, the free-to-play version of the game made specifically for markets in Asia. In 2012, EA’s Andrew Wilson claimed that FIFA Online was making $100 million a year in revenue. A year later, FIFA Online 3, the most recent iteration, was the leading online sports game in both traffic and revenue in Korea.

One thing is certain, take these four titles away from EA’s free-to-play games on Origin, and you’re left with only Command & Conquer: Tiberium Alliances and Star Wars: The Old Republic – in his statement, Soderlund stressed the latter’s “enthusiastic and growing” community, and reiterated EA’s commitment to providing new content.

The remainder of the company’s free-to-play catalog is composed of games like Outernauts, The Simpsons: Tapped Out and Bejeweled Blitz. Casual, social, call them what you will, but they are intended for a very different audience to Need for Speed World and Battlefield Play4Free, and that audience has just lost two-thirds of the games EA had made to satisfy its needs.

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Will Twitter Release Data?

August 1, 2014 by  
Filed under Internet

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U.S. civil rights leader Rev. Jesse Jackson is urging Twitter to release its employee diversity information, which its Silicon Valley peers such as Google, Yahoo, LinkedIn and Facebook have already done.

The Rainbow Push Coalition, founded by Jackson, has also asked Twitter to signal its commitment to inclusion by hosting a public community forum to address the company’s plan to recruit and retain more African American talent.

The coalition and black empowerment group, ColorOfChange.org, plans to launch a Twitter-based campaign to challenge the company, the coalition said in a statement late last week.

On Friday at the Netroots Nation conference in Detroit, ColorofChange will lead a “Black Twitter” plenary session where activists will push out the petition campaign over Twitter and other social media.

Tech companies have been under pressure to release employee diversity data since Jackson took up the campaign to highlight the underrepresentation of African-Americans in Silicon Valley companies, starting with a delegation to Hewlett-Packard’s annual meeting of shareholders.

“….Twitter has remained silent, resisting and refusing to publicly disclose its EEO-1 workforce diversity/inclusion data,” according to the joint petition by the coalition and ColorOfChange.org.

The diversity reports are typically filed with the U.S. Equal Employment Opportunity Commission and companies are not required to make the information public.

Twitter has not commented on the matter.

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HTC Cutting US Jobs

September 25, 2013 by  
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In another sign of trouble at HTC, the Taiwan-based mobile device maker began downsizing its U.S. operations on Friday, eliminating an undisclosed number of staff.

The move is meant to “streamline and optimize” the company’s U.S. organization “after several years of aggressive growth,” HTC said in a Monday email. A company spokeswoman declined to specify how many employees would be affected.

“However, to achieve our long-term goals as a business and return maximum value to our shareholders, this is a necessary step to drive ongoing innovation,” the company said.

HTC has been facing a difficult year on weak earnings that have sent its stock price tumbling. In the second quarter, its net profit plummeted 83 percent year-over-year, despite strong reviews for its flagship smartphone, the HTC One.

The weak financials are major change from only a couple years ago when HTC was riding high selling Android smartphones in the U.S. But starting in late 2011, the company’s net profit has sagged on increased competition from Samsung and Apple.

To recover, HTC has focused on building up its “One” smartphone brand. In addition, the company has expanded its China presence, and in August launched a new marketing campaign that’s enlisted Hollywood actor Robert Downey Jr.

While the company has largely focused selling high-end handsets, in July HTC said it was planning on selling more mid-tier and entry level phones to regain market share. The new phones will launch at end of the third quarter or early fourth quarter.

But the company’s troubles go beyond issues with smartphone sales and marketing. In September, Taiwanese authorities arrested three HTC employees for allegedly stealing company secrets. One of the employees arrested was Thomas Chien, HTC’s vice president of product design.

HTC has declined to offer further details on the case.

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Can Blackberry Be Sold?

August 20, 2013 by  
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Struggling smartphone maker BlackBerry is reviewing several options that could include joint ventures, partnerships or an outright sale, as the company’s leading shareholder steps down from its board in a possible prelude to taking a different role.

BlackBerry, which pioneered on-your-hip email with its first smartphones and email pagers, said on Monday it had set up a committee to review its options, sparking debate over whether Canada’s one-time crown jewel is more valuable as a whole or snapped up piece by piece by competitors or private investors.

The company said Prem Watsa, whose Fairfax Financial Holdings Ltd is BlackBerry’s biggest shareholder, was leaving the board to avoid a possible conflict of interest as BlackBerry determines its next steps.

The resignation of Watsa, often described as Canada’s version of Warren Buffett, suggests Fairfax may be part of a solution.

BlackBerry, once a stock market darling, has bled market share to the likes of Apple Inc and phones using Google Inc’s Android operating system, and its new BlackBerry 10 smartphones have failed to gain traction with consumers.

Blackberry shares rose 7.5 percent to $10.80 in New York and C$10.84 in Toronto in afternoon trading. But the shares remain well below the levels seen in June, before the company reported dismal results that included poor sales of the BlackBerry 10 phones it viewed as key to a successful turnaround.

The share price peaked at about C$150 in June 2008.

A clean balance sheet makes the smartphone seller an enticing takeover candidate. Like Dell Inc, it is a tech icon in need of a turnaround. But BlackBerry’s cash flow is worse, meaning leverage would be extra risky.

The company’s assets include a well-regarded services business that powers BlackBerry’s security-focused messaging system, worth $3 billion to $4.5 billion; a collection of patents that could be worth $2 billion to $3 billion; and $3.1 billion in cash and investments, according to analysts.

But the smartphones that bear its name have little or no value, and it may cost $2 billion to shutter that unit, the analysts said.

Analysts expressed skepticism about the new committee, noting that BlackBerry announced similar steps more than a year ago when it hired JPMorgan and RBC as financial advisers. A source said both are still involved in the strategic review.

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Baidu Acquires App Maker

July 26, 2013 by  
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Baidu Inc, China’s top search engine, plans to purchase app store 91 Wireless for $1.9 billion to strengthen its position in the country’s highly competitive mobile computing sector.

Baidu will buy a 57.4 percent stake in 91 Wireless, one of China’s earliest appstores, from NetDragon Websoft Inc for $1.09 billion, and the remainder from other shareholders, both companies said on Tuesday.

“It’s good for Baidu because if you look at mobile, currently apps are more popular than mobile sites because Internet download speeds are slow. So with the acquisition of this appstore, Baidu can work more closely with the apps developer and be able to enhance further their search capabilities,” said Elinor Leung, an analyst with CLSA in Hong Kong.

China’s mobile Internet market is expected to double to about 300 billion yuan ($48 billion) in 2014 from 150 billion yuan in 2012, with the number of active mobile Internet users rising to 749 million from 521 million during the same period, according to research firm Analysys International.

NetDragon’s shares lost as much as a fifth of their value on Tuesday and were down 18 percent at HK$19.74 at 0305 GMT (11.05 p.m ET)

NetDragon also said in a statement that it would scrap the planned spinoff and listing of 91 Wireless on Hong Kong’s secondary Growth Enterprise Market if the acquisition is finalized.

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Will SoftBank Raise The Stakes?

May 16, 2013 by  
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SoftBank Corp President Masayoshi Son may get a less than enthusiastic reception when he comes to the United States this week to meet Sprint Nextel Corp’s major shareholders, as he tries to drum up support for the Japanese company’s proposed takeover of the No. 3 U.S. wireless service provider.

SoftBank’s billionaire founder, who proposed a $20 billion deal for a 70 percent stake in the U.S. wireless carrier, said on Tuesday that he would discuss the deal with shareholders in a bid to fight off rival Dish Network, a U.S. satellite TV provider, which offered Sprint a $25.5 billion bid.

The executive for the Japanese mobile operator may have a tough time selling the deal, as several shareholders have told Reuters that SoftBank would need to raise its bid in order to win their vote at Sprint’s June 12 shareholder meeting.

Two big Sprint shareholders, Paulson & Co and Omega Advisors, have publicly said the Dish offer looks better than SoftBank’s. Other shareholders said on Tuesday that they would go to meet Son during his trip but they were skeptical about his arguments against Dish.

While Dish’s offer would provide more cash upfront to shareholders, Son has argued that Dish would not be good for the company as it would require Sprint to take on a heavy debt load. He also promises a July 1 close for the deal and warned that Dish regulatory approval may not come until 2014.

Robert Lynch, the director of research for Westchester Capital Management, which owned over 14 million shares in Sprint at the end of December, said that the prospect of a quicker deal close would not be enough to win over his company’s vote.

“We think right now that Dish has a better offer on the table. We think SoftBank’s going to have to improve their offer,” Lynch said, noting that SoftBank’s comments about the prospective debt leverage from a Dish deal were overdone.

“We think the leverage is manageable. We think there are synergies here. While raising the leverage is something we looked at we think its not as big of a obstacle as SoftBank is saying,” Lynch said.

A big Sprint investor who asked not to be named said they were happy to meet with Son while he is in the United States but that they were hoping to convince him to raise his bid.

“If Mr. Son wants to own Sprint he will have to raise his bid,” said the person from a top 25 Sprint shareholder who did not want to be quoted by name ahead of the meeting.

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Will Facebook Go Lower?

September 6, 2012 by  
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Facebook is still overvalued and analysts are starting to agree with us that the company could fall to about $13 a share.

SmartMoney’s Jack Hough is being quoted by Forbes as saying that Facebook should be worth about half what is now – about $29.52 billion, or just a tad over $13 per share. Hough compares Facebook to Google which trades at 3.6 times its projected revenues for 2014. Analysts expect Facebook to have $8.2 billion in sales that year which means you just multiply this figure by about three.

All makes sense and is a similar view to what I said when Facebook issued its daft IPO and people lost their shirts and underpants on the deal. Part of the problem is still that Facebook has not worked out a good way to make money from advertising and it has not got an effective mobile strategy.

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