I am not
quoting the Monkey’s from the 1960s nor am I making a religious statement.
I have to admit
that I am consistently amazed by Apple Inc. (NasdaqGS: AAPL). In a discussion
with one of my tech analysts, they questioned if the new device (soon to be
announced) will have an option to be just wifi. If the new device is a Kindle
killer and more, and not a phone at all, for many users it will not require
hooks into Verizon Communications (NYSE: VZ) or AT&T (NYSE: T). She assures
me I could purchase all the magazines, text books and apps I want just from
wifi and not need a cell hook.
After reading
the NY Times last week and learning that the iPhone and iTouch can download Grand
Theft Auto it now rivals our Wii. I have also noticed how much less my kids use
their DS since getting Apple upgrades (now to iTouch, living in NY, we will not
get iPhones until the day they work with Verizon). Clearly, the Apple team has designed the Swiss
army knife of hardware, pared with so many apps, for so many types of solutions
and uses.
Gaming,
music, video and movies, GPS and navigation, and even a card counting app that
is banned from Las Vegas, along with thousands of other categories of apps are
the new norm from AAPL’s app store. Soon, books and all print materials, even
those not well formatted for the web will sing from the newest creation.
Steve, I am consistently
impressed as a consumer. For the past year, I have also been impressed as an
investor by Apple’s innovation and the numbers posted. Impressive
numbers such as an operating margin that is smack between that of a hardware manufacturer
(with zero debt) and a software producer, along with strong free cash flow and
return on equity.
Earnings are
coming soon and expectations are high. The stock is near its 52 week high and my
investors have benefited. The numbers, not salesmanship will once again
display the cold hard facts. I am waiting, and holding, hoping to be impressed yet again.
Disclosure:
Mr. Corn is Chief Investment Officer – Equities of Beacon Trust Company.
Through various equity strategies under his supervision he is currently long AAPL,
RIMM, VZ and T.
Second
disclosure: Mr. Corn carries a Blackberry and iPod, and has used both Macs and
PCs at home since the early 1990s.
I think apple is ingenious with their ideas, but i have yet to understand how ipad is going to revolutionize the computer industry as ipods did the music industry.
Posted by: sfgirl | 02/03/2010 at 06:18 PM