Buffett Slashes AAPL Stake in Half, What’s Really Going On?, Removing the Buffett Overhang
Today's Above Avalon Daily email contains the following story:
Buffett Slashes AAPL Stake in Half
What’s Really Going On?
Removing the Buffett Overhang
Hello everyone. What a busy start to the week.
My initial thoughts on Apple’s earnings were sent to all you via email last Friday. We are going to take an unexpected detour to focus on Warren Buffett news that came out over the weekend. There is still much to talk about regarding Apple’s 3Q24 earnings release and conference call – we only touched upon the big picture takeaway. We will shift back to earnings review mode tomorrow.
Earlier today, a judge ruled against Google in the Google Search vs. U.S. trial. This was the trial that involved Google's default search deal with Apple. We will talk more about the development after I have had time to read through the 286-page ruling. For now, we can point back to the following daily updates regarding the topic:
October 11th, 2023 (U.S. vs. Google, Apple in the Crosshairs, Satya Nadella Cries Wolf)
October 16th, 2023 (Apple as a Search Trojan Horse, My Estimates for Google TAC Payments to Apple, Potential Court Impact on Apple Search Revenue)
Let’s jump in.
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Three Charts From Apple’s 2Q24 Earnings, Warren Buffett Trims Apple Stake, Buffett and AAPL Underperformance
Today's Above Avalon Daily email covers the following topics:
Three Charts From Apple’s 2Q24 Earnings
Warren Buffett Trims Apple Stake
Buffett and AAPL Underperformance
Quarterly earnings provide snapshots for how a company is performing. Stringing together a few earnings reports provides a clearer picture of business trends. After going through Apple's 2Q24 earnings, a few items jumped out at me as needing some context. In today’s update, we go over three charts that highlight a few intriguing Apple financial trends. There is then Warren Buffett news to go over.
Above Avalon membership is required to read this update. Members can read the update here.
Above Avalon Membership
Choose either a monthly or annual membership. Payment is hosted by MoonClerk and secured by Stripe. Apple Pay and other mobile payment options are accepted. After signup, use this link to update your payment information and membership status at any time. Contact me with any questions.
Contact me directly if you would like to purchase multiple subscriptions (five or more) for your team or company.
Member Privileges and Benefits
Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
Member Archive. Access all previous analysis sent to members.
Member Forums. Interact with other members in the Above Avalon team in Slack.
Priority Email Access. Receive timely responses to all email inquiries.
Access to Add-ons. Customize a membership with the Podcast, Inside Orchard, and Financial Models add-ons.
Above Avalon Support. Play an active role in supporting Above Avalon as an independent voice and resource.
Buffett Continues to Add to Apple Stake, AAPL Valuation Update, Peloton Raises Prices and Announces Intention to Close Stores (Finally)
Today's Above Avalon daily update includes the following stories:
Buffett Continues to Add to Apple Stake
AAPL Valuation Update
Peloton Raises Prices and Announces Intention to Close Stores (Finally)
We kick things off with Neil’s thoughts on news of Warren Buffett continuing to increase his Apple stake. The discussion then shifts to a broader examination of Apple’s current valuation metrics based on both earnings and free cash flow. We conclude with why Neil thinks Peloton is actually making some right choices in its ongoing quest to cut costs and find sustainability.
Above Avalon membership is required to read this daily update. Members can read the update here.
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Payment is processed and secured by Stripe. Apple Pay and other mobile payment options are accepted. Special Inside Orchard bundle pricing is available for Above Avalon members.
Above Avalon members receive the full Above Avalon experience throughout the week.
The cornerstone of Above Avalon membership is access to Neil’s exclusive daily updates about Apple. Daily updates are 2,000 words and sent via email Monday through Thursday. Updates revolve around the following topics:
Apple business and strategy analysis.
Neil’s perspective and observations on current news and Apple competitors.
Neil’s Apple financial estimates.
Full coverage of Apple earnings, product events, and keynotes.
If it is of interest to Apple, it is something I pay attention to.
Member Privileges and Benefits
Receive Exclusive Daily Updates. The cornerstone of Above Avalon membership is access to Neil’s exclusive daily updates about Apple. Updates are sent via email and go over current news and developments impacting Apple, its competitors, and the industries Apple plays in (or will play in). Approximately 200 daily updates are published throughout the year. Sample daily updates can be viewed here, here, and here.
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