Registered: 1 month, 3 weeks ago
Having valued Apple multiple times on this blog over the last five years, and bought and sold the stock based on those valuations, the most recent earnings report is an opportune time for me to revisit Apples value. Even if you accept that the Fed should be doling out investment advice, I think that it is on particularly shaky ground at this junction in history, where there are many who believe that it has kept interest rates at abnormally low levels for the last five years (with QE1, QE2, QE3..). My assessment of Apples value in November of 2015 was $134/share, but more importantly, the narrative that I had for Apple was that of a slow-growth , cash rich company (revenue growth rate of 3% in the next five years and a cash balance of $200 billion), with operating margins under pressure (declining from the 32.03% it earned as a pre-tax operating margin in the 2015 fiscal year to 25% over the next decade) and a very low probability of a difference-making disruption. Id been using a 14mm mooring line, which was a bit over the top. Benjamin Strong, the governor of the New York Federal Reserve from 1914 to 1928, is said to have argued against letting interest rates rise in his time, using the analogy of investors as children and saying that raising interest rates to puncture a bubble would be like punishing all the kids because a few are misbehaving. The only park that I would recommend regularly using the bus system is Magic Kingdom (if you are not at a Magic Kingdom resort) as you can bypass the Transportation and Ticket Center and save time this way. This will make him feel like you are the right person. The market seems to like the bundle, with the stock up more than 13% from its close before the report. At the current stock price of $13.33 (at close of trading on October 4), the stock looks undervalued by about 36%, given my estimated value, and I did buy the stock at the start of trading yesterday. Heres a video walk-through of the steps required to start your own blog on WordPress. A designer of WordPress can help in updating the look of any website by accessing the HTML and CSS files and making the needful changes. The app still features the minimalist lo...
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