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Goldman Hikes Apple Price Target From $660 To $700

Tyler Durden's picture




 

The muppets must buy. Tangentially, one wonders if it was Goldman's advice that a now post-Jobs AAPL followed to do what the banks did post "Stress test"... or if it was JP Morgan's. One can also hope this report from Boy Genius on the NEW iPad occassionally overheating has nothing to do with anything.

From Goldman

A major catalyst fulfilled, many more to come

 

What's changed

 

This morning Apple announced a $2.65 per share quarterly dividend and $10 billion share buyback authorization. Through these programs, the company estimates it will return approximately $45 billion of cash to shareholders over the next three years. While the dividend was essentially in line with expectations, we view the share buyback authorization as an incremental positive. In addition, on the conference call this morning, we believe Apple’s management appeared very willing to consider steady increases in the dividend and share repurchase rate over time. We believe that today’s announcement, coupled with additional positive catalysts that we expect through the year, should continue to lift the stock higher. We reiterate our CL-Buy and raise our 12-month price target to $700 from $660.

 

Implications

 

We are modestly raising our earnings estimates to account for the lower share count resulting from the share repurchase program. Our EPS estimate of $42.52 in FY2012 is unchanged, but we modestly raise our forecast for FY2013 and FY2014 to $50.57 and $57.90 from $50.29 and $57.14 previously.

 

Valuation

 

We are increasing our target price to reflect the company’s more attractive capital allocation strategy. Our new 12-month price target of $700 is based on a multiple of 16X on our CY2012 EPS estimate of $43.86. This compares with our prior 12-month price target of $660, which was based on a 15X multiple on our prior CY2012 EPS estimate of $43.82.

 

Key risks

 

Key risks include worsening macro conditions, supply chain disruptions, increased platform competition, and potential legal and regulatory restrictions.

 

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Mon, 03/19/2012 - 14:34 | 2270440 rebelscum1967
rebelscum1967's picture

Now can I short it?

Mon, 03/19/2012 - 14:37 | 2270450 Unprepared
Unprepared's picture

This gonna end badly

Mon, 03/19/2012 - 14:42 | 2270475 iDealMeat
iDealMeat's picture

iRan  should go bomb foxconn..

Mon, 03/19/2012 - 14:44 | 2270481 Pladizow
Pladizow's picture

Dont pigs like apples?

Mon, 03/19/2012 - 14:49 | 2270503 TheFourthStooge-ing
TheFourthStooge-ing's picture

They sure do! Break out the barbeque sauce!

 

Mon, 03/19/2012 - 14:59 | 2270533 Stanwick
Stanwick's picture

BUY! BUY! BUY! MUPPETS!!

Mon, 03/19/2012 - 15:34 | 2270674 Gidas19
Gidas19's picture

yes, BUY BUY BUY Bank of America!!! Price target is way above 11$...

 

G.S.

Mon, 03/19/2012 - 14:45 | 2270486 SilverIsKing
SilverIsKing's picture

Apples are not overpriced.  They are on sale!!!  BUY BUY BUY!!!

http://stopandshop.shoplocal.com/stopandshop/default.aspx?action=detail&...

Mon, 03/19/2012 - 14:46 | 2270490 SilverIsKing
SilverIsKing's picture

Oh

Mon, 03/19/2012 - 16:05 | 2270801 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Distribution!

Mon, 03/19/2012 - 14:35 | 2270441 firstdivision
firstdivision's picture

PLEASE BUY WHAT WE WNAT TO SELL!

Mon, 03/19/2012 - 14:35 | 2270446 slaughterer
slaughterer's picture

If Goldman says buy, muppets must sell.  Or is it the other way around now that the inverse reaction thesis to GS recs has been overexposed recently?

Mon, 03/19/2012 - 14:47 | 2270495 TheFourthStooge-ing
TheFourthStooge-ing's picture

It's as clear as mud.

Cramer: "Apple is looking like a strong buy here!"

Cramer hits wrong button on retarded sound effects control: "SELL SELL SELL!!!"

 

Mon, 03/19/2012 - 15:09 | 2270449 Normalcy Bias
Normalcy Bias's picture

Govt Sachs wants to unload some AAPL, eh?

Mon, 03/19/2012 - 14:38 | 2270458 monopoly
monopoly's picture

And there... is your Short notice, right there! Now, wait for confirmation on the chart. About time the Squid chimed in.

Mon, 03/19/2012 - 14:38 | 2270459 SheepDog-One
SheepDog-One's picture

There it is folks! The Fredo Kiss of Death from Goldman! RUN from Apple lol.

Mon, 03/19/2012 - 14:38 | 2270460 kralizec
kralizec's picture

I smell a rat!

Mon, 03/19/2012 - 14:43 | 2270474 slaughterer
slaughterer's picture

My past experiences with the GS "Fredo kiss of death" is that it is good for one more pop.  Then it is thoroughly fadeable.  I would wait for AAPL to dance above $600 for a day or two before laying on the shorts.  It is good as done if nobody sues Apple for a new "hotter" iPad burning scars into their body. 

Mon, 03/19/2012 - 15:05 | 2270547 No One
No One's picture

If those hotter ipad burns can be marketed as iTattooes of the Apple Logo, I see APPL at $1,000 by years end.

Mon, 03/19/2012 - 14:40 | 2270465 DavidC
DavidC's picture

Take a look at an Apple weekly or monthly chart to see exponential growth in action. At some point exponential growth collapses.

DavidC

Mon, 03/19/2012 - 14:42 | 2270471 Pool Shark
Pool Shark's picture

 

 

Denninger has an interesting take on the reason for Apple's hasty dividend announcement:

http://market-ticker.org/akcs-www?post=203569

New iPad sales below expectations?

Mon, 03/19/2012 - 14:49 | 2270501 Pool Shark
Pool Shark's picture

 

 

P.S.  10-year yield up to 2.38%

That's a full 1/2% backup in rates in a single week.

How's that housing market recovery workin' out for ya?

Mon, 03/19/2012 - 15:45 | 2270714 ZeroPower
ZeroPower's picture

Indeed, crazy moves. The rates traders here are sweating bullets. Tons on the street were still long waiting for that crucial re-test of 1.70s area we saw during the Euro crisis (i like how this is in past tense implying its finished, but i digress...) and so lots of hurt right now for those who didnt short. Point is, considering no real catalyst unless we look at EU elections, this rally has shown to be resilient and bonds are only finally starting to catch up. Wouldnt be surprised to see a 3 handle on 10years if S&P gets to 1500 - which is funny and ironic at the same time.

Mon, 03/19/2012 - 14:50 | 2270505 Waterfallsparkles
Waterfallsparkles's picture

Huffington Post says there is a Heat problem with them.  They are too "Hot to handle".  Sorry for the Pun.

Mon, 03/19/2012 - 14:44 | 2270480 monopoly
monopoly's picture

Agree, I do not care how much I like AAPL or how many of their toys I have, I look at that chart at it spells "parabola". Can it go to 650 first, of course it can, but any one except Kramer puts out a warning flag, if not earlier, right here. Great company, lousy chart.

Mon, 03/19/2012 - 14:45 | 2270485 slaughterer
slaughterer's picture

GS has turned into the AAPL i-BEAR.  Thanks for the commish for our advice to raise your dividend: now we short you to iCollapse. 

Mon, 03/19/2012 - 14:45 | 2270487 Ted Baker
Ted Baker's picture

LATEST RUMOURS:-

(1) ISRAEL AND EVENTUALLY US WILL ATTACK IRAN BEFORE WEEK 1 APRIL

(2) GOLD PRICES TO SPIKE TO 2010 USD/OUNCE AND OIL TO REACH 130 $/B

(3) QE ANNOUNCEMENT WILL COME ON WEEK 2 OF APRIL

(4) US EQUITY MARKETS TO CORRECT BY 8-10% OVER THE NEXT 3 WEEKS - WORST PERFORMERS FINANCIALS

(5) MEXICAN PESO TO REACH 11.5 VS. USD AND CANADIAN DOLLAR 0.93 VS. USD BEFORE END OF MARCH

(6) UK AAA RATING WILL BE DOWNGRADED IN 2 WEEKS TIME

(7) CRISIS IN EUROPE WILL RETURN WITH PORTUGAL, SPAIN, IRELAND AND ITALY AT THE FRONT OF THE TURNMOIL

(8) END OF THE BULL MARKET FOR APPLE

(9) US UNEMPLOYMENT WILL GET WORST AND US HOUSING WILL DROP FURTHER

Mon, 03/19/2012 - 14:48 | 2270499 Pladizow
Pladizow's picture

Stick to shoes and clothing!

Mon, 03/19/2012 - 14:56 | 2270518 rubearish10
rubearish10's picture

I'll take any one of these.

Mon, 03/19/2012 - 17:18 | 2271002 Winston Churchill
Winston Churchill's picture

All of the above.

This is multiple choice is'nt it ?

Mon, 03/19/2012 - 14:46 | 2270492 Bam_Man
Bam_Man's picture

Yeah, Citi's stock has only risen by 10% since they flunked the stress test.

Total Joke of a "market".

Mon, 03/19/2012 - 14:47 | 2270494 Waterfallsparkles
Waterfallsparkles's picture

Goldman already put it on its Buy list around $540.  Someone wants to keep the price up to Sell.

Mon, 03/19/2012 - 14:48 | 2270497 MsCreant
MsCreant's picture

It's time to play the music,

It's time to light the lights...

http://www.youtube.com/watch?v=Uh_aG5MzPVM

Mon, 03/19/2012 - 14:50 | 2270506 Piranhanoia
Piranhanoia's picture

Get your new app,  iSwindle,  direct from your GS camp guard or from the forced ap store now.  We mean now!

Mon, 03/19/2012 - 14:51 | 2270509 kralizec
kralizec's picture

Heh!  That there is good stuff!

Mon, 03/19/2012 - 15:19 | 2270542 Pool Shark
Pool Shark's picture

 

 

Isn't it funny how Apple has become the very "Big Brother" it parodied in its famous 1984 Superbowl commercial?

http://www.youtube.com/watch?v=HhsWzJo2sN4

Ironically, IBM PC's (and their progeny) have pretty open architecture where you can run any operating system you want; while Apple has a monolithic, centrally-controlled operating system (not to mention their ability to track your whereabouts with their products...)

And Apple products are manufactured by slaves living in an Orwellian society.

Funny how things turnout sometimes...

Mon, 03/19/2012 - 17:16 | 2270999 DCFusor
DCFusor's picture

Yeah.  Funny how anyone who tries (and suceeds!) in getting a whole crowd to "think different" the same winds up.

Digging linux here, myself, because I can write my own code for it a lot easier (and cheaper) than windows with their weird security model and high priced tools.

But what really sucks - metro in windows, unity in linux, being shoved down our throats as "one UI to rule them all" because it works out for Apple on a fondleslab - which no one else is selling all that well.  They  really suck on a multimonitor desktop for a user who doesn't need the computer to tell him what's possible for it every time it's turned on.  I like my simple menus, and having all my pixels for ME, and I couldn't even reach the extremes of my multiple screens if they WERE touch sensitive.

Yet, here go the lemmings over the cliff.  SInce there really wasn't any innovation in the new iPad (more of everything isn't innovation, it's obvious) I see their decline beginning now...

 

Mon, 03/19/2012 - 18:01 | 2271078 TheFourthStooge-ing
TheFourthStooge-ing's picture

DCFusor said:

Yeah.  Funny how anyone who tries (and suceeds!) in getting a whole crowd to "think different" the same winds up.

Marketing: convincing a target audience that they need something which is, as Ken Nordine would put it, differently the same.

Digging linux here, myself, because I can write my own code for it a lot easier (and cheaper) than windows with their weird security model and high priced tools.

Same here. I've been using it as a desktop/laptop system for ten years. The applications have really matured both in terms of utility and usability.

But what really sucks - metro in windows, unity in linux, being shoved down our throats as "one UI to rule them all" because it works out for Apple on a fondleslab - which no one else is selling all that well.

Agreed. I use a KDE 3 GUI because I like KDE and know how to make it do what I want. I have no desire to use Gnome, and KDE 4 is loaded with retarded, floating, spinning, animated, semi-transparent crap that serves no purpose. If I wanted to see that kind of thing, I'd drop a few hits of blotter.

Yet, here go the lemmings over the cliff.  SInce there really wasn't any innovation in the new iPad (more of everything isn't innovation, it's obvious) I see their decline beginning now...

Technoboredom sets in. Lemmings try to fill the emptiness in their existence with new gadgetry, and when the novelty wears off they need more new gadgetry. When the economy starts to get really bad and the mod-a-gogo infrastructure begins to break down, they'll be the ones you see sitting on the curb furiously moving their finger across the touchscreen of their non-functional "smart" phone and, in agonized tones, chanting repeatedly, "this isn't happening."

What a laugh I'll have.

 

Mon, 03/19/2012 - 23:25 | 2272030 StychoKiller
StychoKiller's picture

KDE 4 Desktop Effects can be disabled, look into

System Settings/Desktop/Desktop Effects

 

Mon, 03/19/2012 - 14:51 | 2270508 Dr. Engali
Dr. Engali's picture

Looks like Goldman has some Apple to offload. The run is almost over.

 

 

 

Mon, 03/19/2012 - 14:54 | 2270510 monopoly
monopoly's picture

Emphasis on "rumors". To me that looks like a Zero Hedge wish list. 

Mon, 03/19/2012 - 14:53 | 2270511 blu
blu's picture

The initial retail list price of the ground-breaking Apple][ computer was ... $666.

No I did not make that up. G00gle it yourself.

So sometime tomorrow, the cost of a single share of Apple Inc would have at one time (not adjusting for inflation) bought their signature product. I don't know what that says about valuations, or the company as a whole, or that industry segment, but it seems really interesting.

Mon, 03/19/2012 - 14:53 | 2270512 Waterfallsparkles
Waterfallsparkles's picture

Only Stock holding the Market up.  Except of course IBM.

Goldman must want to Short and Sell tons of other Naz stocks.  Have to keep Aapl up to Sell and Short the entire Market.  Before the end of the Twist.

Mon, 03/19/2012 - 14:55 | 2270515 JohnKozac
JohnKozac's picture

My ex-broker told me to buy Lerman Bros two weeks before it went bankrupt....he also suggested Lehman Mini Bonds that went to zero.

My view is when they need to dump sh*t, they call their Muppets and tell them to "buy! buy! buy!"......

Good luck.

Mon, 03/19/2012 - 14:56 | 2270520 monopoly
monopoly's picture

I say it again. Until AAPL breaks "do not short" stocks in general. But the moment is closer. I can just taste it. And am ready to dust off my mouse and take action. This sitting around is boring and interesting at the same time.

Mon, 03/19/2012 - 14:56 | 2270521 mind_imminst
mind_imminst's picture

I would say it is a good time to fade/short AAPL as well except that the dumb retail money is not yet pouring in. It is mostly debased fiats right now holding things up. 

The correct time to short AAPL is when I buy the stock. I have an uncanny ability to top tick nearly every purchase (in the short term). Wait a minute, does that mean I AM the dumb money? (rats!)

I'll let everyone know if/when I buy AAPL so you can hedge accordingly.

Mon, 03/19/2012 - 14:57 | 2270526 devo
devo's picture

Does Goldman realize the Ipad 3 is overheating and thus nobody is going to buy it, of if they do, they will return it? Or Apple will have to take huge loses recalling it? lolol

Mon, 03/19/2012 - 14:58 | 2270528 alien-IQ
alien-IQ's picture

Surely this signals at least a short term top for AAPL.

When GS says to go long...you know the drill. Act accordingly.

Mon, 03/19/2012 - 15:07 | 2270557 ziggy59
ziggy59's picture

iPad3 is the new iMelt

Mon, 03/19/2012 - 18:14 | 2271097 MsCreant
MsCreant's picture

Padd-iMelt. Yum!

Mon, 03/19/2012 - 15:11 | 2270573 mt paul
mt paul's picture

muppets

like apples...

Mon, 03/19/2012 - 15:13 | 2270578 Vince Clortho
Vince Clortho's picture

GS are such a conservative bunch.

They simply do not comprehend the full meaning of a never-ending bull market.

AAPL should be over $700 by Tax deadline day.

 

Mon, 03/19/2012 - 15:14 | 2270583 jmcadg
jmcadg's picture

Is this the new Stolper call. Fuckin' Lol.

Mon, 03/19/2012 - 15:16 | 2270593 kaiten
kaiten's picture

iBubble

Mon, 03/19/2012 - 15:20 | 2270609 HungrySeagull
HungrySeagull's picture

It's time to run from the apple cart. The horse has gone wild.

Don't come crying when your precious 660 share drops to a terminally ill 100+ or even lower.

Even good hard cider has a limit.

Mon, 03/19/2012 - 15:20 | 2270611 Temporalist
Temporalist's picture

That isn't "overheating"; it is the iHotPlate app. Just one more amazing thing that iPoop does - warm itself up before being eaten.

Mon, 03/19/2012 - 15:26 | 2270636 All Rise
All Rise's picture

Well it should do over $40 of EPS this and $50 next, so it's not exactly expensive on a PE/PEG basis. I suspect there are a lot people who are just bitter they missed it when it was so cheap at $200 & $300 recently.

 

Mon, 03/19/2012 - 15:27 | 2270637 Frank N. Beans
Frank N. Beans's picture

perfection now baked into the aapl pie...

but da appl is gonna fall from dat tree...prolly tomorrow

 

 

Mon, 03/19/2012 - 15:27 | 2270638 FXPortent
FXPortent's picture

What a splendid pie, 
Pizza-pizza pie, 
Every minute, every second, 
Buy, buy, buy, buy, buy, 
What a splendid pie, 
Pizza-pizza pie, 
Every minute, every second, 
Buy, buy, buy, buy, buy, 

 

 

 

 

That System of a Down song just about sums up this Apple craze.

Mon, 03/19/2012 - 15:34 | 2270662 BLOTTO
BLOTTO's picture

The first Apple computer went on sale for $666.66

 Wierd. Why not $670? or $665.99?

Anyway. The stock is getting close to that number, just saying.

 It went on sale in July 1976 at a price of $666.66(checkout the price & date on the ad), reportedly because Wozniak liked repeating digits and because they originally sold it to a local shop for $500 and added a one-third markup.

http://www.crookedbrains.net/2007/08/ad-of-very-first-apple-computer-apple-i.html

 

EDIT: This July will be 36 year anniversary.

 

Mon, 03/19/2012 - 15:40 | 2270669 kevinearick
kevinearick's picture

Implicit Currency, Time Value of Money, & Power

You don’t have to read Tocqueville. You need look no further than the headlines, written by computers, which are replacing pundits like Mondale’s advisor, to see that Democracy pays you to fail. Self is the only property to which you are entitled. A young person will never get a return from the criminal social security Ponzi scheme. G was relatively trivial up to WWI. Now, it consumes the economy, and its willing participants are actually surprised it’s collapsing into tyranny.

Serving others directly is selfish, because it maximizes absolute return on natural wealth, completing the circuit, if you define your own values consistently, which is why the empire must enforce unearned income event horizons, driven by fad consumption (Apple). Otherwise it could not exist. Popular economic theory is not just stupid; it’s criminal. G (above the law/accounting line) can rob Peter to pay Paul to the end of its own growth, but if you did that you would end up in jail. Employing agency as the middleman does not make majority rule less criminal.

If you understand the nature of a constitution, the empire is doing you a favor every single time it grows beyond the limits prescribed, devaluing its currency with arbitrary, capricious, and malicious rule-making, because it is granting you power to determine which characteristics will be carried forward and which will be cast back into the churn pool for retrieval. To the extent you redirect its monetary expansion tendencies to assist others, you develop the world around you with the assist of its gravity.

Right before your eyes and in full view of the empire, I have been training intelligent kids to build bombs, write constitutions, and transform wealth, and there wasn’t a damn thing G could do about it, and I don’t have to worry about how those kids will employ that information because, unlike the empire kids, they are not stupid. They are explorers, not cave dwellers that sh** in their own bed and look to G for solutions.

You may not have recognized the tools, so here they are:

Your dc computer may be implicitly compiled into a fusion machine, with relatively unlimited ac gate access through the computing cloud the empire is rolling out. The kids can blow up your house, the nuclear plant down the street, or the entire electrical grid, anything with smart technology, at will. The empire cannot force them to do anything.

(Have you driven a BMW or ridden a German elevator lately? They are pieces of sh** with bells and whistles to keep the politicians amused/busy, and so is Skynet.)

The US Constitution, which has been containing the empire’s gravity, all government constitutions, is imploding under the weight of all those inelastic laws that short back to DC. You may have noticed that populations all over the globe are in the process of freeing themselves from the squid, and they are not writing constitutions to its liking, forcing it to become increasingly tyrannical as it employs more and more resources to maintain control over less and less.

For all the bitching and moaning about hedge funds, the squid tentacles, which are about to get their clock cleaned again, who’s hide have the kids been skinning? If you didn’t make a killing on oil, currency carry, and sovereign debt, it’s your own damn fault. Every empire in History has employed imbalanced trade to devalue the currency of populations through sovereign debt inflation, usurious slavery, and every single one of them has collapsed at the will of an intelligent minority, which revealed the language key necessary to make the empire’s operations transparent.

The first rule of investing is don’t place all the eggs in one basket, and all the eggs are in Apple. Ironic eh? Sir Isaac must be laughing his *ss off. The hedge funds cannot live without global Apple subsidies and the market cannot live with them.

I have already relayed the following experience, but it in context it may be more useful now:

My father began training me to run wire when I was 5, and gave up everything in divorce to place me in front of admirals shortly thereafter, where I learned all about positive feedback and backlash, during and after the Vietnam War. At the time, his family and friends assumed he was stupid for working 100 hrs/wk to do so. The future belongs to those who invest the greatest in its mobility over time, beyond the vision of those around them.

As a young man on the road, it was not at all unusual for an old man to pull over and flip me a $100, which was more than enough to re-boot in those days, or to drive me 750 miles out of his way to move me. That is still true today. An old man gave me leasehold on a beach home in CA for the price he paid after WWII. Another gave me leasehold on 40 acres of tobacco land on the Thames under the same conditions. Housing is never a problem if you live up to your word and leave everything you get better than you found it.

I can’t remember how many good cars I bought from old men for a couple hundred bucks. I have never, ever had a difficult time getting from point A to point B, and every time I got to point B, there was an old man there waiting to put me to work, because honesty pays the dividend of adaptive skill. In an empire where currency rides on the back of dishonesty and sloth, honesty sticks out like a sore thumb, hit many, many times by a hammer.

Whether on the farm or in a café, the old man always bought me a full breakfast when all I asked for was coffee and toast, and told me exactly where to go to get the work I needed, flipping me whatever I needed to do it. When the empire makes you its enemy, which it will only do if you are honest, hard-working, and intelligent, you will never go without food, shelter, or clothing, if you seek the unknown.

Because of the empire’s nature, which it can no more avoid than the sunrise, the old man bought everything today for nearly nothing in tomorrow’s devalued money, and all of his power over the empire rests upon passing it forward. Discretion is the better part of valor. Employ discretion accordingly, and nearly everything wrong in this country will be corrected by inauguration, regardless of who has their hand on that Bible. Absent intelligent discretion, aggregated, nothing you ever do will alter the course of the empire, which may only repeat its History, in an increasing cycle of despair, of its own volition.

Pay your culture back with your interest in it and you will prosper, regardless of the event horizon. Take the sunshine with you, and pull it out of your back pocket when the old man needs it. In times of war, the mythology of peace unravels like a cheap suit. Collect and hold trump, regardless of what transpires around you, and pass it on with discretion accordingly.

The families that set themselves up to survive irrational markets determine the course of the future in quantum intervals. Democracy is an incremental weed-out process. The majority doesn’t care about tomorrow and so joins the herd. Most minorities don’t like the system and set themselves up accordingly to fight it. The legacy families do you the favor of setting up the irrational market. If you view self as your own personal property and teach children to do the same, it doesn’t matter what anyone else does. That is the key to this and every other prison devised by man.

Develop your own constitution, with your own accounting system to measure your progress. The peer empire f***ing hates that, but can’t do anything about it, lest it hands power over to you. As the Republican governors and presidential candidates now demonstrate, preemption is not a sin of Obama alone. G is G. You’ll have that.

 

Mon, 03/19/2012 - 16:00 | 2270783 I am a Man I am...
I am a Man I am Forty's picture

APPLE closes at 601, booyah!

Mon, 03/19/2012 - 16:04 | 2270796 Bluesquid
Bluesquid's picture

666 the mark of the beast.

Mon, 03/19/2012 - 16:06 | 2270803 Ralph Spoilsport
Ralph Spoilsport's picture

Something is definitely wrong with the new iPad. We're returning my wife's back to Apple tomorrow. After trying all the recommended fixes like discharging the battery and not using it while it recharges, it still shuts down after 1 hour of use at 75% brightness. It isn't in a case either. It is obviously overheating and gets uncomfortable to hold. The Apple forums are complaining like crazy and after 20 pages of posts on the thread for "New iPad Overheating", not a single word from Apple. Flop-sweat bitchez!

Mon, 03/19/2012 - 16:10 | 2270823 MarcusLCrassus
MarcusLCrassus's picture

As long as the iLemmings keep on buying their iToys I'm ok with this.   

 

From ~$350 to 600 in the last few months, this is doing better than gold. 

Mon, 03/19/2012 - 16:18 | 2270847 DarkStarDog
DarkStarDog's picture

Phuck That... I aint buyn apple. I am a 99%er i'm broke.

Mon, 03/19/2012 - 17:12 | 2270993 adr
adr's picture

There is more than overheating problems with the new iPad. The quad core processor and high res screen are too much for the battery to handle. In fact you can't charge and use your new iPad at the same time. The use of the iPad will drain the battery faster than the AC adapter can charge it.

Not that most people leave their iPad plugged in while they use it, but it is still a very big problem. You can go to any Apple store and retail kiosk and find dead iPads all day long. As soon as the battery goes dead the unit will shut off, not allowing prospective customers any time to play with the new toy. After around 10 minutes it will get enough power to allow someone about 1 minute of play time before it shuts off again.

You aren't going to be using your new iPad to keep you entertained on cross country flights either. The battery isn't getting anywhere near the iPad2 usage times in real world tests.

Mon, 03/19/2012 - 18:07 | 2271084 ZeroPower
ZeroPower's picture

And yet, from Tim Cook on their new iPad presentation day "battery life the same if not slightly longer lasting than iPad2"...

They really flopped on this one. Wont be trading my ipad2 in after all.

Mon, 03/19/2012 - 21:28 | 2271665 spiral_eyes
spiral_eyes's picture

As a new iPad user, this seems true. I get roughly the same usage time from the iPad3 as i need from my iPad1. It just takes about 3x as long to charge it.

The screen is marginally better, for that.

Mon, 03/19/2012 - 19:03 | 2271230 Bunga Bunga
Bunga Bunga's picture

iMuppet

Mon, 03/19/2012 - 19:53 | 2271360 xela2200
xela2200's picture

Time to sell Apple.

Mon, 03/19/2012 - 20:08 | 2271406 Ned Zeppelin
Ned Zeppelin's picture

Byte the Big AAPL don't mind the maggots

Mon, 03/19/2012 - 21:26 | 2271659 spiral_eyes
spiral_eyes's picture

Muppets need some of that iBubble.

Tue, 03/20/2012 - 00:16 | 2272190 dogismyth
dogismyth's picture

Maniacal

Fanaticism

Symbolism

Three characteristics of the crowd infatuated with Apple.

Tue, 03/20/2012 - 00:31 | 2272229 optionmillionaires
optionmillionaires's picture

Goldman SUX is irrelevant in this market IMHO ~

 

http://www.optionmillionaires.com/2012/the-bottom/

Do NOT follow this link or you will be banned from the site!