Notes on iPhone OS4.0 call.
300k iPads sold first day, 450k as of today, 250k iBooks downloaded in first 24 hours, 600k as of today. Over 1M iPad apps downloaded on day one, 3.5M as of today.
App store update: over 4B apps downloaded, 185k apps in store now, 3500 iPad apps in store.
iPhone update:
iPhone has 64% share of mobile browser usage. RIMM 9%, Android 19%.
Just another typical day of headlines in 2010: JPM, UBS, Lehman have rigged the muni bond market and cheated US citizens out of millions, Pfizer, one of biggest drug companies in the world, fined $142M for “racketeering.” Just ridiculous. More government giveaways to the irresponsible: Obama will give subsidies to house buyers who owe more than their house is worth.
Best Buy had another beat & raise quarter, primarily on the strength of handset, TV, and notebook sales.
During their call, they called out Smidiots, whom they referred to as "experts" with a tinge of "Minnesota Nice" sarcasm. They said that experts had said when the consumers rentrenched due to the recession, they would not be buying a lot of consumer electronics. Then Best Buy management said something you don't often hear on an earnings call: they said the experts were wrong.
Since I don't understand the health care "reform" and obviously have no power to affect it, I will play like an American, and just go back to watching my "Idol" with a giant bag of Cheetos. (By the way, Cheetos are actually one of the least unhealthy of the "salty snack" category, and yes, that is real orange cheese)
A smattering of things:
AKAM: cut to hold from buy at Citi – valuation.
I plan to bankrupt the U.S. Postal Service with extreme prejudice. And paper companies, too. This is not just a passive/aggressive way to get revenge for all the verbal abuse I've taken from New York post office employees. This is what I call the "Digitization of Everything."
I took most of 2009 off from tournament poker, since the market was so busy and profitable that I didn’t have time to play much. I really enjoy playing in pro-level tournaments, because poker at those levels is an entirely different game.
I’ve picked up a few things by playing with pros and I will share them with you.
Today I offer up, for free, my analysis of the book industry. I have been studying the impact of e-books for about 18 months. Bernstein did good work on this space a while back, which influenced my thinking greatly, however, my numbers and conclusions are different.
The battle so far:
Today instead of blogging, I'm posting my 2 page summary of VZ earnings. If you are following/investing in the smartphone trend, you have to do more than listen to that nutjob Cramer. No, not all players in this space will benefit. By understanding what is happening at the wireless carriers, you can form an informed opinion of who is capturing the value in the chain, and which stocks to buy.
One of the main debates in the market right now is whether the semiconductor cycle has peaked already. ISI and others believe it has. We have seen a lot of money leaving technology for health care and other areas.
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