Misek Weighs in on Apple’s New iPhones, Berkshire’s ‘War’ with AIG, and 2 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): ”Terrible yields” on fingerprint sensors is going to lead to supply constraints, said Peter Misek, who sees third-quarter iPhone 5S builds at 5 million to 10 million units and fourth-quarter builds at 20 million to 25 million, with 15 million starting to look more likely. As far as how Misek feels about the 5C, ”paying a high premium for a product over a year old, made of plastic, has a 4″ screen, and often linked to a content store that is not superior to alternatives, especially in China.”
Berkshire Hathaway (NYSE:BRKA): A person with knowledge of the situation said “it’s war” regarding Berkshire’s move into the commercial insurance industry, which is heavily dominated by incumbent AIG (NYSE:AIG). Berkshire initially took four high-profile executives from AIG in April to jumpstart its new unit. Berkshire has reportedly hired about 15 more people from AIG since but agreed not to hire any more for a year, and the companies have also agreed not to disparage one another.
Chevron Corp. (NYSE:CVX): Brazilian federal prosecutors have reached a deal with Chevron and Transocean (NYSE:RIG) to settle various lawsuits, seeking up to $20 billion in damages as a result of a relatively minor 2011 offshore oil spill. No details have been revealed yet.
NQ Mobile Inc. (NYSE:NQ): NQ’s shares are topping 8 percent in the positive today after announcing the launch of Music Radar, an app that can identify a song being picked up through a device’s microphone even if it is sung or hummed. An ”innovative melody recognition engine” ensures that Music Radar will differentiate itself from its competition, the company claims.