Q4 14E will be the most competitive ever for devices. Apple’s accidental launch of the new iPad Air 2 and iPad Mini 3 combined with Google’s attempt to steal its thunder with its new Nexus devices sets the scene for brutal competition in Q4 14E. First up was Apple’s accidental launch of its new iPads...
Core M is the key to a laptop replacement cycle. Intel reported solid Q314A results as corporate PC demand continues to keep the PC market on an even keel. . Q314A Revenues and EPS were $14.6bn / $0.66 compared to estimates of $14.4bn / $0.65. Intel won market share from AMD during the quarter, but...
Amazon is not the problem. Its Apple. Amazon is what keeps Eric Schmidt up at night but in reality what he should be worrying about is Apple. An interview during a recent visit to Berlin revealed that he worries more about Amazon than he does about Yahoo! or Microsoft. Amazon is certainly more dangerous than...
The latest releases from Apple are unlikely to reignite growth. The tablet market has been the fastest market to go from birth to rapid growth to commoditisation to maturity. After a few short years of stunning growth, this segment already looks very mature with just 4% growth expected this year after 44% in 2013A. I...
Microsoft’s understanding of the ecosystem is a big threat In the next generation console war, the first round has emphatically been won by Sony. The right pricing, strategy and marketing has led to the PS4 outselling the Xbox One 2 to 1 and there is no sign of that changing anytime soon. While Sony has...
Only bad marketing keeps the PC market from growth. Both Gartner and IDC have released their Q314A figures for the PC market which continues to show very little movement. Q314A Shipments have been essentially flat, falling by just 0.5% YoY to 79.4m units. IDC reported 78.5m units shipped representing a decline of 1.7% YoY. The...
At $10bn, even a financial return looks to be a challenge. Yahoo! has made a huge return from its investment in Alibaba but its fiduciary duty to prudently invest on behalf of investors remains unchanged regardless how much money is in the bank. Snapchat appears to be raising yet another round of financing this time...
Samsung is getting closer to the fate of its peers. Samsung has guided for Q314A results that strongly indicate that it is losing control of its handset business. Q314A revenues and operating profit will be KRW46tn-KRW48tn and KRW3.9tn-KRW4.3tn. The median of these figures is revenues of KRW47tn and operating profit of KRW4.1tn. Consensus was looking...
Usage of Chrome is likely to continue growing. The latest data from Net Market Share (see here) shows that Chrome is steadily gaining share when it comes to web browsing. Chrome now makes up 22% of all mobile web browser usage behind Safari at 45%. This is more than double the usage Chrome enjoyed just...
Richard is founder, owner of research company, Radio Free Mobile. He has 16 years of experience working in sell side equity research. During his 11 year tenure at Nomura Securities, he focused on the equity coverage of the Global Technology sector.
Google Q3 14A – Law of large numbers
Slowing growth does not make the shares unattractive. Google reported slightly disappointing results as growth from its core advertising business in fixed Internet slowed a bit more quickly than expected. Q3 13A revenues (ex-TAC) and EPS were $13.2bn / $6.35 compared to consensus at $13.2bn / $6.54 and RFM at $13.0bn / $6.28. RFM has...