Morgan Stanley August 14, 2014
Morgan Stanley July 25, 2014
Morgan Stanley’s Katy Huberty says that an analysis of Apple’s recent SEC filing strongly suggests that the company has not only made a big bet on the success of the iPhone 6, with large advance orders, but also that it is likely to launch the long-awaited iWatch this quarter.
The graph, obtained by Business Insider, shows the historical correlation between off-balance sheet commitments – the technical financial term for money invested in things like tooling, component purchases and manufacturing contracts – and quarterly revenue. Essentially, if you know how much Apple is investing in new products in one quarter, you can pretty accurately predict its revenue in the following quarter … expand full story
Morgan Stanley July 23, 2014
While Wall Street may have been slightly disappointed by some of the numbers Apple reported yesterday, they should feel reassured by Apple stabilising and growing its gross margins, say Apple bulls – analysts who expect the stock price to rise.
Very stable long-term gross margins. Painful contrast to rest of the industry …
Morgan Stanley July 22, 2014
A patent application filed by Apple three years ago and approved today illustrates a new twist on the iWatch concept: a sensor-packed strap acting as a dock which allows a range of interchangeable modules to be snapped into place.
It’s not anything we’re likely to see make it into production: the docking concept dates back to 2011, and was probably intended by Apple to house an iPod Nano, converting it into a smartwatch in a more sophisticated version of the watch-straps sold in Apple Stores since way back in 2010. But the patent does tell us two things … expand full story
Morgan Stanley July 14, 2014
While some analysts point to modest sales of existing smartwatches as evidence that the iWatch is likely to be a relatively minor new category for Apple, Huberty believes that they are using the wrong measure.
It’s that loyalty and the so-called “halo effect,” Huberty writes, not the current watch market, that will drive sales of the unannounced product that she (like everybody else) is calling the iWatch …
Morgan Stanley July 4, 2014
Apple’s presumed plans for an on-demand music service as part of its Beats acquisition is looking increasingly well-timed as Nielsen data shows that U.S. on-demand music consumption climbed 50.1 percent year-on-year, while music downloads fell by 12 percent in the same timeframe.
“With On-Demand streams surpassing 70 billion songs in the first six months of 2014, streaming continues to be an increasingly significant portion of the music industry,” says David Bakula, SVP Nielsen Entertainment …