Adjusting view for error regarding wilful infringement. Yesterday’s note (see here) was incorrect in its statement that no finding of wilful infringement had been found against Samsung. In fact, Samsung has been found to wilfully infringe the ‘721’ patent which claims rights over the slide to unlock feature on smartphones. This means that Samsung was...
Victory costs Apple most of the value of its IP. Apple has won a finding of infringement by some of Samsung’s products but has been awarded just 5.4% of the damages it had asked for. This deals a devastating blow to the perceived value of Apple’s IP as this case will be used as a...
The single offerings for Digital Life are running out of steam. Linked-In reported good Q1A results but guided weakly as growth is slowing more quickly than many were hoping. Revenues / EPS were $473.2m / LOSS $0.11 compared to estimates of $467m / LOSS $0.08. Historically Linked-In has established a habit of guiding nicely above...
Anonymous login is a land grab for user data. Facebook is holding its F8 developer conference this week at which the most significant announcement was anonymous login. This is a new feature that allows users, who use Facebook to login into third party apps and services, to control how much, if any, of their data...
Twitter’s Q1 was good, but not nearly good enough. Twitter reported results that met headline expectations but were not the blow-out that the valuation of the stock demands. Q1 revenues / adjusted-EBITDA were $250m / $37m compared to consensus at $242m / $20m. The monthly active user count accelerated to grow 6% QoQ (up from...
Nokia’s new strategy is focused on the shareholder. With the deal to sell the handset business to Microsoft now closed, Nokia has announced its new strategy, capital structure and leadership team. Nokia will position each of its three remaining businesses for growth, return €3bn to shareholders over the next 18months and pay down €2bn of...
Synergies will be pretty easy to achieve. With the Chinese finally signing off on the deal, Microsoft has finally managed to close its purchase of the Nokia handset business. Now that handsets are now part of Microsoft, the focus will now move to profitability and how the $600m of synergies will be achieved before the...
The foundations of something better are being laid. Microsoft reported good results as cloud and corporate helped offset the ongoing weakness in PCs. Fiscal Q3 revenues / EPS were $20.4bn / $0.68 compared to consensus at $20.4bn / $0.63. Streamlining of OPEX and the transfer of a key campaign from Q3 to Q4 was...
Apple and Facebook raise hopes after Google. Apple Apple reported good results as iPhones shipped in much better volumes than expected. The increased dividend and plans to return a further $30bn to investors also boosted optimism. Q2A revenues / EPS were $45.6bn / $11.62 compared to consensus at $43.6bn / $10.16 respectively. The iPhone was...
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.
Twitter – Face change.
There is no longer a reason to sell. Twitter is no Facebook but I suspect that the next 2 years could follow a very similar story. Twitter’s stock has collapsed from its high of $73 for two main reasons. Its user growth has failed to follow the course that the market was expecting. The market...