Reggie Middleton's picture

Anecdotal Quips Regarding The Inevitable Failure Of Blackberry (ex-Research In Motion)

Nice try, but they still haven't addressed margin compression. They need a new business model to counter Android's "less than free" approach. Watch their chart imitate the cliff dive, once again!

Tyler Durden's picture

The Chart That Keeps RIMM Shareholders Up At Night, And BlackBerry 10 Launch

As the world awaits the launch of the iBlackberry 10 this morning, we thought some reflection on the hope that is priced into RIMM's shares in comparison to the reality on the ground. The trends below will need violent distortion if the new BustBerry is to win and Thorsten Heins dreams come true... if you build it? Though, as Bloomberg notes, IDC estimates that RIMM will only have 4.1% of the market by 2016 - little changed from today..."The low-hanging fruit is the BlackBerry faithful, after that, they bump up against the Android and  Apple users out there."

Tyler Durden's picture

Frontrunning: January 28

  • CAT beats ex-Chinese fraud: $1.91, Exp. $1.70; Warns 2013 could be a "tough year"; sees 2013 EPS in $7.00-$9.00 range, Exp. $8.54, sees Q1 sales well below Q1, 2012
  • Yi Warns on Currency Wars as Yuan Close to ‘Equilibrium’ (BBG)
  • Monte Paschi seeks new investor as scandal deepens (Reuters)
  • Assault Weapons Ban Lacks Democratic Votes to Pass Senate (BBG)
  • Toyota Again World's Largest Auto Maker (WSJ)
  • Curious why all those Geneva Libor manipulators moved to Singapore? Bank probes find manipulation in Singapore's offshore FX market  (Reuters)
  • Japan eased safety standards ahead of Boeing 787 rollout (Reuters) - so like Fukushima?
  • Goldman is about to be un charge: Osborne cools on changing inflation target (Telegraph)
  • Abe Predicts Bump in Revenue as Japan Emerges From Recession (BBG) - actually, "hopes" is the correct verb here
  • Toxic Smog in Beijing Fueling Auto Sales for GM, VW (BBG)
  • Fed waits for job market to perk up (Reuters) ... any minute now that S&P to BLS trickle down will hit, promise
  • BofA shifts derivatives to UK (FT)
Tyler Durden's picture

$600 Billion In Trades In Four Years: How Apple Puts Even The Most Aggressive Hedge Funds To Shame

Everyone knows that for the better part of the past year Apple was the world's biggest company by market cap. Most also know that AAPL aggressively uses all legal tax loopholes to pay as little State and Federal tax as possible, despite being one of the world's most profitable companies. Many know, courtesy of our exclusive from September, that Apple also is the holding company for Braeburn Capital: a firm which with a few exceptions, also happens to be among the world's largest hedge funds, whose function is to manage Apple's massive cash hoard with virtually zero reporting requirements, and whose obligation is to make sure that AAPL's cash gets laundered legally and efficiently in a way that complies with prerogative #1: avoid paying taxes. What few if any know, is that as part of its cash management obligations, Braeburn, and AAPL by extension, has conducted a mindboggling $600 billion worth of gross notional trades in just the past four years, consisting of buying and selling assorted unknown securities, or some $250 billion in 2012 alone: a grand total which represents some $1 billion per working day on average, and which puts the net turnover of some 99% of all hedge funds to shame! Finally, what nobody knows, except for the recipients of course, is just how much in trade commissions AAPL has paid on these hundreds of billions in trades to the brokering banks, many (or maybe all) of which may have found this commission revenue facilitating AAPL having a "Buy" recommendation: a rating shared by 52, or 83% of the raters, despite the company's wiping out of one year in capital gains in a few short months.

CalibratedConfidence's picture

The Rise and Fall of Apple-linked Structured Products

The Securities Litigation and Consulting Group just released a report which highlights the rise in Apple's stock price coinciding with the issuance of debt products linked to Apple's stock price.

Tyler Durden's picture

Apple's Flash Dump In The Last Second Of Trading Caught On Tape

Sure, the retail "investors" are coming back into the "markets"... They are coming back in shifts.  And just so they know what to expect, here is what happened to Apple stock in the last second of regular trading today, courtesy of Nanex. Unlike traditional flash crashes where the trade is an HFT error, or a few shares traded through the entire bid or offer stack, in this case it looks like a very premeditated unloading of some 800K shares (some $350 million worth) of AAPL in the last second, with the full knowledge it was shake the market. Why anyone would want (or wait until the very last second) to do that, while covering the offsetting ES short in the pair trade, to ramp the market into the close, is anyone's guess.

Tyler Durden's picture

Apple Is No Longer The World's Most Expensive Company

Irony of all ironies; on the 1-year anniversary of AAPL replacing XOM as the world's most-expensive market capitalized company, the incessant fall of the formerly invincible has dragged it back below XOM once again. This one-year of glory is disappointing as when MSFT managed to top XOM in 1998, it held on to the top-spot for almost 3 years before relinquishing it back to the company that runs the world's most valuable limited resource.

Tyler Durden's picture

Second Consecutive Week Of Outflows From US Equities

It is funny what one finds when one actually looks at the data behind the headlines, such as in this case the trumpeted amazing return of investors to the US stock market. Because what one does find is that after that one blistering week after the new year, in which wealthy individuals dumped cash they had put aside (for lack of knowledge of what the dividend tax would be in 2013), we now have, for the second week in a row, seen a material outflow from US equity funds as tracked by Lipper, bringing the total two week outflow from the domestic equity sector to some $5.8 billion. Oh, and the great non-rotation out bonds continues with some $8.5 billion pumped into taxable bond funds and $2.3 billion into municipal bonds in the past two weeks.

Tyler Durden's picture

Frontrunning: January 25

  • Fed Pushes Into ‘Uncharted Territory’ With Record Assets (BBG)
  • Next up in the currency wars: Korea - Samsung Drops on $2.8 Billion Won Profit-Cut Prediction (BBG)
  • China Warns ‘Hot Money’ Inflows Possible on Easing From Abroad (Bloomberg)
  • BOJ Shirakawa affirms easy policy pledge but warns of costs (Reuters)
  • Merkel Takes a Swipe at Japan Over Yen (WSJ)
  • Wages in way of Abe’s war on deflation (FT)
  • Italian PM under fire over bank crisis (FT)
  • Senior officials urge calm over islands dispute (China Daily)
  • Spain tries to peel back business rules (FT)
  • Rifts Over Cyprus Bailout Feed Broader Fears (WSJ)
  • Soros Says the Euro Is Here to Stay as Currency War Looms (BBG)
Tyler Durden's picture

Good News Apple Bulls: Today's $60 Billion Market Cap Loss Is Not The Biggest One Day Drop In History

Apple lost a remarkable $59.63bn in market cap today sending even the most ardent of bullish sell-side analysts scrambling for cover. However, there is a silver-lining, this is not (as many expected) the greatest market cap loss ever in history in one day for any company - it is in fact 3rd!! The holder of the Number 1 and Number 2 spot is none other than AAPL's awful analog - Microsoft (which is itself having a tough night). MSFT lost an enormous $77.18bn on 04/03/2000 and then 3 weeks later followed it up with another epic $61.81bn drop on 04/24/2000. As AAPL drops perilously close to losing the top spot of global market caps to XOM, we note that even that prestigious name had a 'moment' when it lost $52.5bn in a single-day on 10/15/2008. So, good news all around then.

EconMatters's picture

Yen, Apple, Netflix and VIX

All in all, the market took apple`s takedown rather well, which is probably bullish! 

Reggie Middleton's picture

As I Said, iBubble! AAPL Drops 10.7%, Subtracting 32 pts From NASD Comp As Predicted Months Ago

iBubble goes iPop bringing the iNaz down for the iFall. You know I just can't help myself...

Tyler Durden's picture

Chart Of The Day: Dandruff Time For The Nasdaq?

With the world and his mum applauding day-after-day as the nominal price of the major equity indices push to either i) all-time highs, or ii) post-crisis highs; and any and every measure of 'fear' (e.g. volatility and credit spreads) is repressed to limit-zero; there is an annoying glitch in the new market-based reality that has become our barometer of how we feel. Since the 2009 lows, every new market high has been confirmed by the Nasdaq - until now that is - as the divergence between the tech-dominated 'new normal' index and the rampacious Dow Transports or Industrials (dominated by one or two names each and every day) has grown significantly. The worrying chart below, perhaps suggests that the broad Nasdaq index is about to begin the down leg of a major head-and-shoulders pattern - helped by none other than 'most-held' Apple. Are non-Nasdaq indices being driven by the hedge unwinds against this mega-holding?

Tyler Durden's picture

Frontrunning: January 24

  • When the cash runs out: Nokia to Omit Dividend for First Time in 143 Years (BBG)
  • Passing Debt Bill, GOP Pledges End to Deficits (WSJ)
  • Japan logs record trade gap in 2012 as exports struggle (Reuters)
  • so naturally... Yen at 100 Per Dollar Endorsed by Japan Government’s Nishimura (BBG)
  • Japan rejects currency war fears (FT)
  • In Amenas attack brings global jihad home to Algeria (Reuters)
  • Investors grow cagey as Italy election nears (Reuters)
  • Mafia Victim’s Son Holds Key to Bersani Winning Key Region (BBG)
  • Bernanke Seen Pressing On With Stimulus Amid Debate on QE (BBG)
  • U.S. to lift ban on women in front-line combat jobs (Reuters)
  • Red flags revealed in filings of firm linked to Caterpillar fraud (Reuters)
  • Apple Sales Gain Slowest Since ’09 as Competition Climbs (BBG)
  • Spanish Jobless Rate Hits Record After Rajoy’s First Year (BBG)
  • North Korea Threatens Nuclear Test to Derail U.S. Policies (BBG)
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