AAPL (NASDAQ:AAPL) Down As Market Falls
Stocks are down across the board with broad pressure as all 10 major sectors are in the red. Shares of AAPL are off with the rest of technology. Catalysts include upgrade cycle and conversion to the iPhone 4S and response to the free iPhone 3GS; update to the iPad in early 2012; continued growth of the Mac business line; mobile adoption in China and emerging markets; the evolution and reconstruction of Apple TV; and platforms such as mobile advertising (iAd), books / publishing and social (Ping). Shares of Apple trade at 9.0x Enterprise Value / Trailing Twelve Months Free Cash Flow(including long-term marketable securities).
China Mobile Might Not See iPhone Until 2012 (AppleInisder)
Hong Kong-based UBS analyst Wang Jinjin cites “checks with value suppliers” indicate the earliest China Telecom could offer the iPhone is February or March of 2012. This is a deal that could be a $9 billion revenue opportunity for Apple. Currently China Unicom is the only Chinese carrier licensed to sell Apple’s device in China.
Samsung Outselling Apple In The Third Quarter Isn’t Good News (Business Insider)
Android isn’t just the mobile operating system market share leader. Now, a single Android manufacturer, Samsung, has blown past Apple in global smartphone sales, shipping a 28 million units last quarter while Apple only sold 17 million iPhones. And Android has become an increasingly viable and important platform for developers (and, if past is prologue, is on its way to becoming the most important). Henry Blodget at Business Insider believes that no matter how you look at it, in a race for global smartphone platform domination, this is a worrisome trend for Apple.
Siri Puts Apple A Good Two Years Ahead Of Google In The Smartphone Race (Mashable)
Is Siri a threat to Android? Gary Morgenthaler, a partner at Morgenthaler Ventures and recognized expert in artificial intelligence (not to mention a Siri board member and investor, so he’s not biased) believes so. He believes now has at least a two-year advantage over Google in the war for best smartphone platform. The threshold from mere speech recognition to natural language input and understanding, is one that Google cannot cross by replicating the technology or making an acquisition. That’s quite the challenge.
LG and Samsung are having difficulties in manufacturing high resolution 10-inch displays for Apple’s upcoming iPad 3. Sharp, a company with which Apple reportedly had plans to invest $1 billion in a factory to build LCD panels for iPhones and iPads, was not mentioned. Apple defines a Retina Display as having “pixel density is so high your eye is unable to distinguish individual pixels.” At about 12 inches from the eye, this is the most amount of detail the human retina can see.
Did Apple Just Acquire Another Mapping Company? (Various via iDygest)
Apple has also acquired two mapping companies, Poly9 and Placebase, in the last two years and has been hiring talent to take a native maps application to the next level. Sources are now claiming Apple was behind the purchase of C3 Technologies, a software developer that could create detailed 3D maps’ through from aerial photography with very little human input or moderation. Apple has been rumored for years to be working on improving its iOS Maps application.
Heather Leonard is the Apple analyst at Business Insider.