Category Archive for "TMT"

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Quick Thoughts: QCOM – Little Trouble in Big China

–       QCOM delivered 4QFY14 results EPS of $1.26 on sales of $6.69B, falling short of the consensus expectations of $1.32 and $7.03B in revenue –       QCOM is struggling to collect royalties from unprofitable secondary Chinese brands in the midst of

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TMT: Portfolio Update – Dreams, Comebacks, Skeptics and the Death Watch Redux

  TMT: Portfolio Update – Dreams, Comebacks, Skeptics and the Death Watch Redux Last quarter, we created a framework to assess TMT stocks, juxtaposing near-term cash flow expectations (5-year consensus cash flows) with long term expectations (post 5 year cash

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Quick Thoughts: FB 3Q14 – “A Significant Investment Year” or Zuckerberg’s Bezos Envy

–        FB delivered $0.43 in 3Q14 EPS on $3.20B in sales, topping consensus ($0.40 on $3.14B) on 59% sales growth, but spooked investors with guidance for decelerating sales and high expenses –        User metrics were impressive for a base the

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Quick Thoughts: TWTR 3Q14 – It’s Always Something

–        TWTR posted 3Q14 results that either met or beat consensus for every reported metric, including 23% growth in users, 14% growth in timeline views, and 114% growth in revenue –        Nonetheless, shares traded off 10%+ after hours, leading reporters

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Quick Thoughts: MSFT – Not Your Father’s Microsoft

–          MSFT’s 1QFY15 were stellar – 11% YoY organic sales growth, strength in both devices/consumer and commercial businesses, and a solid EPS beat. –          MSFT is killing it in the cloud – commercial sales up 128% YoY, likely to a

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Sensors: What’s in YOUR Smartphone?

Sensors: What’s in YOUR Smartphone? In the growing functionality of high end devices, the spread of basic smartphones, and the emergence of new device types – wearables, etc. – sensors are a $60.4B market that is growing at a 9.2%

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Quick Thoughts: AAPL – SURPRISE! AAPL beats! (actually, not a surprise)

–          AAPL delivered 4QFY14 EPS of $1.42 on sales of $42.1B, handily beating the published consensus, on very strong sales of the iPhone 6 and 6 Plus that had been widely anticipated –          Sales growth of 12.4% was the best

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Quick Thoughts: GOOG – Moonshots are Expensive

–          GOOG missed 3Q14 EPS by 2.8%, failing to deliver an expected QoQ improvement in operating margins. Net sales were in line, with fractionally lower revenues offset by slightly better TAC. –          Sales saw total paid clicks decelerate to 17%

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Quick Thoughts: NFLX – One Strike is Not an Out

–          NFLX disappointed investors on sub growth, missing guidance for 3.7M new subs by 19% as a price hike and a relatively weak slate of new programming releases dampened demand –          The disappointing results were amplified by TWX’s announcement that

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Quick Thoughts: HPQ – Another 180 Degree Turn, But Still No Strategic Direction

–           HPQ’s plan to split in two echoes EBAY’s PayPal spinout, completely repudiating its previous assertion of strategic synergies and capitulating to financial market pressure –           HP Inc., the PC/Printer business, will be in long term decline, but could be

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