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OT: Bootz, I bicycled cross country in the fall of 1996 (West to East) and Texas took 17 days, all into the wind. The first 12 days were almost all desert. There is a lot of it.
09:22 AAPL Apple tgt cut to $155 at Argus (97.95 ) -Update-
Argus cuts their tgt on AAPL to $155 from $212 in light of their revised earnings assumptions and the weak economic environment. New notebook products from Apple suggest that the company will not sacrifice profitability and margin strength to gain market share. Nonetheless, firm is lowering their FY09 estimate to $5.92 from $6.13 (consensus $5.77) to reflect their expectations for more conservative consumer spending on technology. Apple is slated to report 4Q08 results on October 21; they expect the company's 1Q09 guidance to be conservative.
09:30 TomTom' co-founder says looking at options for making software for Apple's iPhone and Google's Android - Reuters (AAPL, GOOG)
I'm firewired to an external HD and intermittently get the same error. OS X 10.5.4.
07:14 DT Deutsche Telekom: T-Mobile will be the first carrier to offer a mobile phone powered by Google's Android software - NY Times (16.27 )
NY Times reports T-Mobile will be the first carrier to offer a mobile phone powered by Google's Android software, according to people briefed on the co's plans. The phone will be made by HTC, one of the largest makers of mobile phones in the world, and is expected to go on sale in the United States before Christmas, perhaps as early as October.
The high-end phone is expected to match many of the capabilities of Apple's iPhone and other so-called smartphones that run software from Palm (PALM), Research in Motion (RIMM), Microsoft (MSFT) and Nokia (NOK) to access the Internet and perform computerlike functions. The HTC phone, which many gadget sites are calling the "dream," will have a touch screen, like the iPhone (AAPL). But the screen also slides out to expose a full five-row keyboard. A video of the phone has been posted recently on YouTube. A person who has seen the HTC device said it matched the one in the video.
The phone's release date depends on how soon the FCC certifies that the Google software and the HTC phone meet network standards. Executives at all three companies are hoping to announce the phone in September because they would benefit from holiday season sales. The people briefed on the discussions declined to be named because they were not authorized to discuss the project.
07:35 AAPL Apple moves to fix problem of dropped calls on iPhone - WSJ (179.32 ) -Update-
WSJ reports Apple is working on a software fix for its new iPhone 3G to remedy dropped phone calls that some users are experiencing, according to people familiar with the matter. The move by Apple could help address a chorus of online complaints from users who have said the device, one of the most eagerly anticipated electronics gadgets in years, suffers from an unusually high number of phone calls that are dropped in mid-conversation. A spokeswoman for Apple declined to comment. Michael Coe, a spokesman for AT&T (T), Apple's wireless carrier partner in the U.S., said the iPhone 3G, like all devices it carries, has varying performance based on factors like the proximity of the user to a cell tower and interference from buildings and trees. Mr. Coe wouldn't say whether the iPhone is more prone to dropped calls than other phones on the company's network.
09:33 AAPL Apple: Checks indicate iPhone demand could be outpacing expectations - Lehman (174.10 +0.54) -Update-
Lehman notes that even as the economy remains weak, they believe AAPL's momentum can still build into year-end due to the launch of the 3G iPhone, the potential for new notebooks, and heightened enthusiasm around its "mobile community."
Their checks indicate iPhone demand could be outpacing expectations with their estimate for sales of 3.8 mln units this quarter looking quite conservative.
This development bodes well for cash flow, as well as an enhanced halo effect for Macs into CY-end. They expect Apple to upgrade its iPods in early September with new notebooks shortly thereafter. Reits Overweight.
09:18 AAPL Apple: Premier position for shift to digital media and mobile computing - AmTech (163.57 ) -Update-
AmTech believe AAPL's fundamentals are among the strongest in large-cap technology. Consumer trends toward multimedia applications favor AAPL's unique competencies and mgmt continues to execute well. Firm expects iPhones and Macs to be growth drivers for many years.
They expect the co to sustain its key competitive advantages 1) strong brand loyal customer base; 2) vertically and horizontally integrated hardware, software and service model (iPod + iTunes, Mac, Apple TV, and iPhone); 3) proprietary interface technologies (clickwheel and multi-touch); and 4) unique and pleasant customer experience with it's AAPL stores.
12:19 AAPL Apple warns resellers of Mac and iPod drought, says load up now - AppleInsider (156.04 +1.94)
AppleInsider reports with the first phase of the iPhone 3G launch in the rear view, Apple is now shifting much of its focus towards product refreshes targeting its two other revenue drivers and is advising resellers to be prepared for product shortages in the interim.
More specifically, AAPL in recent days issued an advisement bulletin to some of its channel partners hinting at a manufacturing ramp down of iPods and certain Mac notebook models, which will result in limited supplies of those products in the coming weeks.
To best address this situation and assure ample supplies for new customer orders through August, Apple "strongly suggested" that resellers bring in -- or place immediate lump orders for -- approximately 4 weeks worth of their top selling iPod models. Supplies of the players would start to become extremely limited in the next seven days, the bulletin said.
Similarly, the company also advised resellers that it would be in their best interest to place at least 3 weeks worth of orders for existing Mac notebook models. In this part of the communication, Apple is said to have specifically identified 13-inch MacBooks and 15- and 17-inch MacBook Pros, but made no mention of the MacBook Air.
Based on past experiences and knowledge of their own inventory sell-through, those resellers who received the bulletin believe the notice is a strong indicator that Apple will begin introducing its holiday consumer electronics and Mac offerings sometime in early to mid-September.
07:43 AAPL Apple stores now open at 8 A.M. to handle iPhone 3G demand - AppleInsider (162.12 ) -Update-
AppleInsider reports All of Apple's US retail outlets are now in a permanent launch mode and will open as much as two hours earlier each day to accommodate the unprecedented demand for the new iPhone.
Also, at least some locations are now giving customers rainchecks for the day's iPhone 3G stock. The co's availability page now tells customers that stores that normally open at 10 A.M. will now open at the new time and are adding new employees to their ranks to process customers at a faster rate.
"To accommodate demand for iPhone 3G, all Apple Retail Stores will now open at 8:00 a.m. every day but Sunday," Apple says. "We're also adding staff to help you get up and running as quickly as possible."
While the change will do little to alleviate queues at the co's flagship stores -- many of which already open earlier -- the move gives Apple more time to clear queues for iPhone 3G at its locations that often continue to last for hours even two weeks after the official launch.
Thanks! I can wait for MM.
Is iSynch without MobileMe reliable between the iPhone and a Mac?
I intend to buy an iPhone after 2.0 is debugged, provided iSynch is safe to use. I don't much care about MobileMe, but might be pleasantly surprised if Apple ever gets it working.
12:18 T AT&T says iPhone orders may take 10-21 days to fill - Bloomberg (31.89 +0.14)
08:53 AAPL Apple: EU ruling gives iTunes and online music stores a boost - WSJ (169.64 ) -Update-
WSJ reports European Union regulators ordered music-copyright groups to end a system that makes it difficult for online music stores to buy EU-wide licenses -- knocking down a major obstacle to iTunes' rollout across Europe.
Internet music downloads in Europe lag behind those in the U.S., pulling in just a fraction of the revenue the record industry is losing from falling CD sales. Part of the problem in Europe is that music rights are sold separately in each country, which has prevented Apple's iTunes from setting up a single store from which it can service all of Europe. Instead, it has had to seek licenses from each EU member state in which it wishes to sell. The European Commission told music copyright groups -- also called collecting societies -- to end a system of contracts that allow artists to collect payments only from an agency based in their own country.
08:09 MSFT Microsoft: Intel won’t embrace Microsoft’s Windows Vista - NY Times (28.35 )
NY Times reports Intel has decided against upgrading the computers of its own 80,000 employees to Microsoft's Vista operating system, a person with direct knowledge of the company's plans said.
The person, who has been briefed on the situation but requested anonymity because of the sensitivity of Intel's relationship with Microsoft, said the company made its decision after a lengthy analysis by its internal technology staff of the costs and potential benefits of moving to Windows Vista, which has drawn fire from many customers as a buggy, bloated program that requires costly hardware upgrades to run smoothly.
"This isn't a matter of dissing Microsoft, but Intel information technology staff just found no compelling case for adopting Vista," the person said. An Intel spokesman said the company was testing and deploying Vista in certain departments, but not across the company. (INTC)
14:47 AAPL Apple now the world's No. 3 smartphone vendor - AppleInsider (186.73 -2.70) -Update-
AppleInsider reports Apple during the first quarter of 2008 rode the booming smartphone market to sales of more than 1.7 mln of its iPhones, good enough to make it the No. 3 manufacturer of multi-function handsets worldwide, according to a report released by Gartner.
AAPL ended the quarter with a 5.3% share of the global smartphone market, behind NOK and RIMM, whose sales of 14.58 mln and 4.31 mln smartphone handsets garnered a 45.2% and 13.4% share, respectively. In the US, Apple faired even better by claiming the No. 2 spot overall with a 20% share of the market. The iPhone maker, however, remains a distant second to RIMM, which maintained its No. 1 ranking with its share totaling 42%.
08:10 AAPL Apple: iPhone business model the key at WWDC - Lehman (185.37 )
Lehman says AAPL remains their "top pick" in the IT Hardware space. On June 9, firm expects co to reveal the 3G iPhone, elaborate on the new iPhone SDK (software developers kit) and iPhone enterprise features and launch the iPhone "App store."
Firm believes that the most important revelation at the WWDC could be around the iPhone's business model in terms of how AAPL will drive unit volumes with the carriers. Firm does not expect to see any new Macs at the event but do still expect new redesigned notebooks to surface next quarter and help Sept quarter results. Firm is currently modeling iPhone unit sales of 1.7 mln in fiscal 3Q (ends June) and sales of 2.55mm in fiscal 4Q.
08:36 AAPL Apple's CEO Jobs queried by SEC in backdating suit against lawyer - Bloomberg.com (185.19 ) -Update-
Bloomberg.com reports the SEC interviewed Apple Chief Executive Officer Steve Jobs as part of the agency's option-backdating lawsuit against Nancy Heinen, the co's former top lawyer. The deposition interview isn't part of an SEC investigation of the co or Jobs, who was expected to be questioned in the case.
The SEC sought his testimony in its civil lawsuit against Heinen in San Jose, California, over claims she backdated a 7.5 million-share option grant to Jobs in 2001 and earlier grants to his executive team. "The parties have proceeded with discovery, with the commission concluding the deposition of Steven Jobs, chief executive of Apple, and setting deposition dates for three other witnesses," according to a court document filed yesterday by the SEC and Heinen's lawyer, Miles Ehrlich.
Apple Nation. Love it.
http://news.yahoo.com/s/cmp/20080518/tc_cmp/207800642
Microsoft to bring back Visual Basic in Office for Mac 2 hours, 43 minutes ago
Microsoft on Tuesday announced it would restore support for Visual Basic for Applications (VBA) to Microsoft Office for Mac, a direct result of complaints from users about the removal of the suite's cross-platform automation functionality.
http://news.yahoo.com/s/macworld/20080513/tc_macworld/microsofttobringbackvisualbasicinofficeformac;_ylt=AoXassfb.ToTteAASfn2oce5n6gB
roni - as a Fidelity user planning to get the 3g iPhone I'm very interested to hear their response, and I hope you have better luck then I. In literally dozens of instances over the years they have made decisions like this, and never once have I gotten one reversed.
Re Ballmer. Does Steve Jobs write his stuff? <G>
08:40 AAPL Apple's iPhone isn't a hit in Europe, how will it fare elsewhere? - Business Week (154.95 )
Business Week reports when the co's iPhone first went on sale in Europe six months ago, hopes were high that the device would be just as big a hit there as it had been in the U.S. But analysts are now raising concerns that the iPhone may not translate as well overseas, with sales sluggish in Europe because of the device's high price and strong competition from Nokia and others.
"Our research indicates that European shipments to date have been far below [expectations]," says analyst Richard Windsor of Nomura Securities... The co's experience in Europe raises questions about the iPhone's prospects around the world.
The co has said it wants to sell 10 mln units by the end of 2008. But Apple may need to change its business model to reach that target, perhaps by moving to nonexclusive contracts or giving up its cut of service revenues. The co may make less money off each iPhone, but it could sell many more. "If they really want to be successful in this market, they had better [change]," says Shiv K. Bakhshi, director of mobile research and devices at I.D.C.
07:54 AAPL Apple: Continue to expect a slightly redesigned 3G iPhone in June- Piper Jaffray (148.38 ) -Update-
Piper Jaffray notes effective today, O2 cut the price of the 8GB iPhone by 37% in the UK and on 4/4 T-Mobile cut the price of the 8GB model by 75% to €99 in Germany.
The firm says iPhone availability remains constrained at U.S. Apple stores. They believe Apple is draining the channel ahead of a new iPhone and continue to expect a slightly redesigned 3G iPhone in June.
Firm says the 3G model will likely feature a redesigned exterior and an entry level price of between $349 and $399. Regarding the exact timing, they note that the iPhone promotion in the UK ends June 1 and the promotion in Germany ends on June 30. Firm reits Buy and $250 tgt
08:17 AAPL Apple: MobileOne's talks with Apple AAPL to launch 3rd generation iPhones in Singapore are continuing - DJ (148.38 ) -Update-
DJ reports MobileOne's talks with the co to launch third-generation iPhones in Singapore are continuing but has been hampered by regulatory and technical issues, its chief executive said. "All three (Singapore) operators have been in discussions with them, but there's no firm conclusion yet," M1 Chief Executive Neil Montefiore told DJ in an interview.
Apple (AAPL) and China Mobile reach a consensus... See next to last sentence.
05:39 CHL China Mobile seeking small stakes in global peers - Reuters (81.98 )
Reuters reports China Mobile (CHL) said on Saturday that it was seeking small stakes in global telecom firms because controlling stakes had become too expensive. Although minor holdings would give China Mobile only limited sway over target companies, Chief Executive Wang Jianzhou said there would be wider benefits from such deals. "Entering into international telecom firms as small shareholders can help us learn from their experiences and gradually develop further," he told a seminar on the sideline of the Boao Forum for Asia in southern China. "It's not realistic for us to try to always get controlling stakes at very high prices," he added, without revealing which markets he was interested in. Wang added that Apple (AAPL) and China Mobile had reached a consensus on some manner of cooperation but had yet to discuss a range of technical issues. He did not elaborate.
07:34 AAPL Apple: UK music fans to enjoy cheaper iTunes downloads - Reuters (171.25 )
Reuters reports Britain's music fans will pay 10% less for downloads from Apple's online iTunes stores within six months, the European Commission said. The European Union's top antitrust watchdog said the move would end its proceedings against Apple. "Prices for iTunes downloads in the UK are currently nearly 10% more expensive than downloads in the euro zone," the Commission said.
Following iTunes' announcement, UK consumers will soon pay the same for music downloads from iTunes as customers from euro-zone countries." Apple said it would lower the prices that it charges for music on its UK iTunes store to match already standardized pricing on iTunes across Europe.
07:21 AAPL Apple set to resolve EU iTunes case, sources say - Reuters (177.64 )
Reuters reports the co will soon announce steps to resolve European Commission charges that its iTunes stores broke EU rules by setting prices country by country in Europe, people familiar with the situation said. The announcement may come later on Tuesday or at the latest by Thursday, the sources said. After that, the European Union competition regulator is expected to announce that it is closing the long-running case involving the pricing of online sales of music and video used in the popular iPod personal audiovisual player.
13:58 AAPL Apple: Fortune Apple Blog discusses this morning's Bernstein Research report (177.14 -2.91) -Update-
Fortune Apple Blog reports in fiscal year 2007, Tony Sacconaghi of Bernstein Research estimates, Apple stores generated an average of nearly $4,500 in sales per square foot — a figure far higher than any other consumer electronics or luxury retailer. That's nearly five times the productivity of Best Buy, for example, one of the most efficient consumer retail outlets, and nearly 12 times that of Saks. Only Tiffany & Company comes close, with sales of $2,750 per square foot... Among the report's other findings: Mac sales per store grew 26% y-o-y in fiscal 2007.
Apple's brick and mortar stores sold an average of 8,000 Macs in 2007, or a "stunning" 21.4 per day. Apple Stores boosted the co's total revenue by at least $1.35 bln (5.65%) during the year, with gross margins of 42% (versus 34% for Apple overall). Despite the high gross margins, the stores have somewhat lower profitability than the co overall because of high operating expenses. The average Apple Store has 40 full-time-equivalent employees, double the number four years earlier. All told, Sacconaghi estimates that the retail segment's operating margin was 16.9% for the year, compared with 18.4% for Apple overall.
09:56 AAPL AppleInsider discusses Piper Jaffray analyst note (175.86 +4.32) -Update-
AppleInsider reports analysts for investment bank Piper Jaffray spent six hours this past weekend monitoring traffic at mall-based Apple retail stores and found that the shops exerted a gravitational pull on shoppers who came within 25 feet of the entranceways.
Specifically, analyst Gene Munster and his team found that 27% of people walking within 25-feet of an Apple store entrance wound up entering the store. Once in the stores, however, only a fraction of those shoppers actually purchased anything.
"The important point is this gravitational pull highlights that consumers' future buying intentions could be shifting to Apple from PCs," he explained. "If materialized, this shift should benefit Apple in 2008 and 2009."
11:49 BQI Oilsands Quest announces it has priced its previously-announced marketed public offering (5.22 -0.13)
Co announces it has priced its previously-announced marketed public offering of 11 mln units and 2.6 mln common shares on a flow-through basis.
Investors in the United States should be aware that Flow-through Shares will not be offered in the United States.
The offering of Units has been priced at US$5.00 per Unit, while the offering of Flow-through Shares has been priced at C$6.17 per Flow-through Share.
09:26 AAPL Apple Tablet PC is real, says Asus - Crave (186.18 )
Crave reports a few weeks ago they were having a civilized dinner their friends at Asus and angling for cool stories when they were told in a very hushed manner: "Asus is helping Apple build a Tablet PC."
Crave is tempted to ignore all Apple rumors because there's just so many of them, but this rings true because Asus is Apple's contract manufacturer. It's one of the cos responsible for building the iBooks, PowerBooks and MacBooks of this world, so when their guys tell Crave they're building an Apple Tablet, Crave believes them.
07:31 AAPL Apple: Color on quarter (174.36 )
Cross Research notes AAPL report strong 4Q7 results, which beat their close to high on the Street EPS ests, driven by strong Mac and iPod sales. EPS was $1.01 vs their est of $0.97 (consensus was $0.86). Rev was $6.2 bln vs consensus of $6.1 bln but below their est of $6.4 bln, as they had forecasted slightly higher iPod sales.
Firm is raising their tgt to $225 (from $200) driven by upside to their earnings and cash flow ests. Firm notes Mac sales were very strong with Mac product sales and services representing 62% of total rev. AAPL said that it had sold about 1.1 mln iPhones and 95% of its iPhone customers were very satisfied and would recommend the product to others...
Broadpoint Capital says due partly to the price cut AAPL shipped a cumulative 1.4 mln iPhones by the end of 4Q07, 400K more than prior guidance. Desktop rev growth accelerated to 30.9% from 19.8% in the prior quarter, driven by the new iMacs. Firm increased tgt to $210 from $170...
ThinkEquity notes AAPL's new product rollout powered a solid F4Q. Even excluding the co's one-time tax benefit, EPS grew a robust 50% y/y. With a refresh of its Mac and iPod lineups, and three new carriers set to debut iPhone in Europe in Nov, firm believes AAPL will continue to outpace the industry in growth heading into the holiday season. If firm carries forward AAPL's current CY'07 P/E of 40x, implying a 1.3x PEG to their 31% CAGR for EPS, to their CY'08 EPS of $5.69, firm arrives at a fair value of $227, or 30% upside, making shares a Buy...
BMO Capital Markets notes for the first time in many years, AAPL's rev guidance is significantly higher than they anticipated. Firm projects modest sequential CPU and iPhone impact, and therefore believes that AAPL will have significant iPod rev growth at close to 140% sequentially, helped by healthy ASPs and 135% q/q unit growth.
17:13 AAPL Apple's U.S. Mac mkt share rises to 8.1% in Q3 - AppleInsider (172.75 +3.17) -Update-
AppleInsider reports the co's share of the U.S. personal computer mkt for the third calendar quarter of 2007 was 8.1%, up from 6.2% during the same period one year ago, according to results released from Gartner just minutes ago.
The Cupertino-based co's U.S. share grew 37.2% year-over-year -- more than twice as fast as any other manufacturer ranked in Gartner's top 5 PC vendors for the three-month period ending September -- helping it snag a spot as the No. 3 U.S. PC vendor overall.
08:47 AAPL Apple: iTunes Plus DRM-free tracks expanding; dropping to 99 cents - ars technica (166.98 ) -Update-
Ars technica reports, according to people familiar with the matter, that there will be news out tomorrow regarding iTunes plus. Apple plans to expand iTunes Plus to include certain indie music labels starting Wednesday, Oct 17 (or sometime this week, at least). This expansion won't include all independent music labels just yet, although we're optimistic that more will be included in the future.
The bigger news on the iTunes Plus horizon, however, is that Apple plans to drop the price of all iTunes Plus tracks. Currently, each track is $1.29 while "normal" DRMed tracks are 99 cents apiece. That discrepancy will be no longer, as Apple will begin pricing all of its iTunes Plus songs at 99 cents apiece. Ars Technica assume that the decision to drop the price is a response to the Amazon MP3 store.
09:16 AAPL Apple: Expect to report solid Q4 results- Bear Stearns (167.25 )
Bear Stearns says driven by continued momentum in Macs/iPhone, coupled with new iPods, they expect AAPL to report solid 4Q07 results and a favorable outlook (but possibly conservative relative to Street expectation as is usually the case).
Firm says video is the next big driver for AAPL in a year or so. While iTunes movie choices are limited today, they see that changing when they expect an installed base of ~67mm video-enabled iPods by next year.
The firm says there are other smartphones with music and touchscreens. AAPL's compelling competitive advantage -- via iTunes -- is its ability to organize/update/add/fix.
I remember Frank Howard. And the seats in the upper deck that he broke with home runs. Several off Sam McDowell. "Sudden Sam."
09:15 Credit crunch may hinder holiday season for LCD TVs and monitors, says iSuppli - DigiTimes
DigiTimes reports the gloom and doom in the housing mkt may have a major impact on consumer purchasing of LCD TVs and computer monitors during the holiday season, according to new data from iSuppli.
Concerns are rising regarding the sub prime mess, the turmoil surrounding the financial mkts and how these issues will impact business and consumer spending in the US.
The credit crunch the US is now facing as a result of rising defaults on home loans may limit consumers' disposable spending during the holiday period of this year, noted iSuppli. "The co believes that inventory increases will result in softness in panel demand among end-product makers and channel participants, especially in the monitor market," said Sweta Dash, director of LCD and projection research at iSuppli. "This may affect fourth-quarter pricing of large-size panels. The issue could become more of a problem if consumers stop spending and tighten their purse strings because of the mortgage problems in the fourth quarter."
Overall television prices more than likely will resume their pricing decline in the fourth quarter as OEMs start to boost holiday sales with promotions and special offers. Production of notebook panels may be impacted due to component shortages.
12:01 AAPL Apple: Mac Mini to be replaced by Mac Nano? - CNET News.com (159.70 +3.46) -Update-
CNET News.com says they approach all Apple-related rumors with skepticism, but sometimes they get a certain feeling about them, and today's from Mac OS Rumors gives them that tingle of plausibility.
Word from one of that site's "oldest and most reliable sources in Cupertino" is that the Mac Mini is going to be replaced before the end of the year by what they refer to as the "Mac Nano." "Overall volume will be shrunk almost 25%, weight by about 20% and an all-new enclosure will be strikingly different from the design that has been the Mini's defining feature since its introduction," according to the report.
They buy this rumor because it's been two years since the Mac Mini's debut, and since then it's received no significant revisions (which lends credence to this other Mac Mini rumor).
A quality school