“I’m making a short of Apple my Trade of the Week this week at $99 a share,” Doug Kass writes for TheStreet. “My rationale to making an Apple short my Trade of the Week: Slowing smartphone sales and more competition. There are growing signs that the smartphone market is slowing. At the same time, the company faces much-lower-priced competitors given the iPhone’s $600 average price.”
MacDailyNews Take: Apple’s iPhones are unique, their so-called “competitiors'” phones are not.
“Longer upgrade cycle is a sign of product disappointment,” Kass writes. “Reports that Apple might extend iPhone upgrades from the current two years to three support my general belief that the last major product upgrade cycle for the iPhone has already occurred.”
MacDailyNews Take: We shall see.
“I continue to believe that Apple won’t eclipse its fiscal-year 2015 earnings for several years,” Kass writes. “In sum, I view Apple as a “value trap” that’s overowned and overvalued relative to its likely reduced earnings expectations.”
Read more in the full article here.
MacDailyNews Take: iCal’ed.
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Doug Kass: Apple to announce stock split on Wednesday – February 26, 2013
Doug Kass: Apple ‘is dead’ – January 30, 2013
[Thanks to MacDailyNews Reader “Tom R.” for the heads up.]