Sunday, December 12, 2021 2:29:18 PM
Michael Goldfeder said:
I’m thinking after the dip on Black Friday, this upward ride has been the reward for the long term shareholders of Apple who have held on tightly to their shares throughout the years of other assorted events. What is going to make this current uptrend different, is that an overhang in the stock with the flawed perception of the Epic case moving forward has now been removed. While “success is not illegal” was the lynchpin of that Federal Trial Court Decision, WS has been harping on the lone victory of sorts for Epic with the injunction granted by the Judge giving App Developers the right to contact consumers directly and bypass the Apple payment system. Having the rug pulled out from underneath Epic with a stay of that injunction, my impression is that a major overhang on Apple stock has just been removed by the Ninth Circuit Court of Appeals.
Moreover, as Robert Paul Leitao was gracious enough to share, an ancillary part of that Appellate decision which has received ZERO media attention, but will have major repercussions moving forward IMO, is that the Court more importantly denied an “Amicus Brief” (Friend of the Court) to be filed by the “Coalition for App Fairness.” These “Amicus Briefs” are routinely filed and granted acceptance by the Appellate Circuit Courts automatically on just about every case from what I’ve seen over the years in all Circuits and SCOTUS. When “this” Amicus Brief was denied by the Ninth Appellate Circuit Court, it was because they agreed with Apple that the “Coalition for App Fairness” was in actuality the alter ego of Epic Games and not a “Friend of the Court” brief. A ruling that IMO will have major implications for the “Coalition for App Fairness” in discussions with regulatory bodies in all places where Apple derives revenues moving forward.
In short, the Ninth Circuit Court of Appeals exposed this self anointed “Coalition for App Fairness” as basically a sham group cobbled together by Epic and several other major internet players (Blockchain.com; Matchgroup; Spotify; Tile; and others) as opportunists in this Epic Games v. Apple litigation money grab, with their concurrent agendas of making gobs of money on the iOS platform for free. While it still remains to be determined what the outcome of the rulings made by the trial judge as the finder of facts in the litigation will ultimately be after Appellate scrutiny, in reading her entire 187-page written and well crafted legally binding decision, along with the abuse of discretion standard that is involved by the Appellant Epic Games to overturn her ruling that Apple is not a monopoly, Apple is in a strong position from a legal standpoint to prevail on all 10 out of 10 issues. In addition, Epic already owes Apple more than $12 million in damages. A sum that will grow substantially with the attorneys fees that already have been generated, and will continue to grow throughout this Appellate journey that will go on for several years.
So while “Katy” and several other WS analysts came out this past week with new price targets on Apple based on AR Glasses in 2022, and the potential “Apple Car” in 2025, I truly believe that they have underestimated what might be an even bigger scenario with the Epic litigation story and how this Ninth Circuit Court of Appeals ruling exposing the “Coalition for App Fairness” as a money grab will assist Apple in the regulatory arena moving forward. That has me more excited than any potential and extraordinary innovations coming down the road from Apple.
Regardless of any release of AR glasses in 2022, the current revenues and demand, in conjunction with the chip shortages, will eventually come into equilibrium as consumers obtain the Apple products they desire. Long Apple!
saving nickels saving dimes
working till the sun don't shine
looking forward to happier times
1963, Roy Orbison - On Blue Bayou
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