|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Doug Kass on Apple - More Bad Things Ahead
Posted by: Dheeraj Grover (IP Logged)
Date: January 23, 2013 03:20PM
Well-known investor and hedge fund manager Doug Kass of Seabreeze partners was on CNBC to discuss his views on Apple and why he is so bearish on Apple (AAPL). He thinks Apple is in for more bad times; this is just the beginning.
-- Don't believe results of the current quarter; they will not tell anything about the future of Apple.
-- Competition has intensified. Apple's iPhone is not the only good smartphone on the market and the iPad is not the only good table on the market.
-- He expects the first decline in year-over-year profit growth since 2003. He thinks it will miss the street estimates but will be above its own estimates.
-- He said the average selling price of Apple devices will continue to decline; the iPhone impact will be muted going forward.
-- What we need to watch for is gross margin. The company has guided a four percentage-point decline in gross margin. Analysts expect it to be around 38%, but there is no consensus on the margin going forward.
Credit and source: www.cnbc.com, CNBC
Here is the video:
Stocks Discussed: AAPL,
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.