Joseph Bland on Heavy buying in August - 'Apple has bought back about a split-adjusted 11.8 B shares since 2013 at a cost of about $853 B, and thus an average price of about $72/share. That’s about 45% of the float back then. If/when Apple gets to 50% bought back, any shares held since then will own twice as much Apple as they did then – and it’s a much bigger company….'
on Barron's: Apple is at an inflection point - 'Lots of basic calculus on PED nowadays. An inflection point is where a curve changes from downward curvature to upward curvature, or the reverse, i.e. a point at which the second derivative is zero. The figure PED posted shows an inflection point of the latter kind, but Woodruff presumably means one of the former: the rate of growth (first derivative) previously was slowing down, but going forward will be speeding up.'
on From the director of CODA: 'Being Heumann' (trailer) - 'As some of you know, we have a 35 year old handicapped from birth daughter that we have cared for her entire life. Because of cerebral palsy, short gut syndrome, and now renal failure, she has a very complicated medical profile. From a mobility and accessibility standpoint, she can use a power wheelchair, operate a laptop and mouse, iPads, Apple Watch, send iMessages, and participate in day programs. We have used Toyota Sienna ICE and now Hybrid handicapped converted minivans for transportation and have permanent ramps to enter our home. We’ve been acutely aware of accessibility for all people, and like Gregg, my knee is also calling for its replacement sometime soon. Our AAPL investments have given us resources to address mobility, accessibility and medical equipment to take good care of our daughter, something that can be very difficult for families to deal with otherwise. I’m glad that Apple includes and supports accessibility, mobility, and awareness of those who need these critical accommodations. Much sooner than later, our aging population will lean in and need that same support as we age. The same applies to younger aged children and adults who unfortunately acquire or suffer a debilitating injury which changes their and their families’ worlds.'
on Heavy buying in August - '“top money managers scooped up a whopping $13.97 billion worth of Apple stock” As opposed to Apple which plans to purchase something like $100B of its own stock each year. (not that $14B is chump change 🙂 )'
on Premarket: Apple is red - 'What a day today! The tech—heavy NASDAQ Composite closed up 1.40%, the DJIA gained 1.18%, the S&P 500 rose 1.06% and the Russell 2000 small cap index moved up a more modest 0.53%. Apple gained $3.25 or 1.00% to finish at $328.21. It was just a good day in the market today! Let’s see if today’s momentum continues into the final trading day of the week.'
on From the director of CODA: 'Being Heumann' (trailer) - 'She was a remarkable woman. She features prominently in the fantastic documentary Crip Camp. https://www.youtube.com/watch?v=OFS8SpwioZ4'
on 'Steve Jobs' author Walter Isaacson on Apple's new CEO (video) - '” different from business advice about how to improve Apple” I’ll never understand the amount of ego displayed by someone writing or reporting for a firm about 1% the size of Apple, that believes they know better than Apple management. I’d wager that Apple’s janitorial staff know an order of magnitude more about the inner workings of Apple, than any of the talking/writing heads.'
on 'Steve Jobs' author Walter Isaacson on Apple's new CEO (video) - '@Greg: At the recent Apple 3.0 event in Palo Alto, Allan Marko was gracious enough to set up a separate tour to members of the group at the Apple Visitor Center and convey his incredible inside knowledge of how every detail of these Apple retail stores are not only built, but the incredible journey and origin of materials sourced world wide and how they are put together. Quite the education for everyone who was present. As a true insider, Allan’s valuable knowledge was incredible. Given that all of the outside noise by Wall Street and CNBC talking heads are “Romper Room” suggestions by comparison as to anything involving Apple, I can point to Allan’s expertise and presentation and extrapolate from there as to any other aspect of the inner sanctum and knowledge base of all people employed at Apple. BTW, Thank You again Allan!'
on Apple renames Lake Ontario - 'My take: “Shame on Tim Cook, who almost certainly made the decision. And on John Ternus for letting him do it.” **Philip, it’s unfortunate, but I don’t believe Tim Cook or John Ternus had any choice in the matter. As the Apple C.E.O., and the incoming Apple C.E.O., each had to do what will contribute to the best results for Apple and its shareholders, *regardless* of their personal feelings and values. IMO, the folks who deserve the blame for putting Tim Cook and John Ternus in the position of having to rename Lake Ontario in Apple Maps are those who voted for the person making this and other ridiculous changes. One of the former subscribers to Apple 3.0, and one of the many of those voters, made this comment on 02/26/25: “However, let me be clear-I will never apologize for voting for Donald J. Trump, whom I firmly believe will be remembered as one of our nation’s most outstanding leaders.” He clearly will be remembered…but, IMO, not as “one of our nation’s most outstanding leaders.” I believe Tim Cook/John Ternus *had* to consider Apple and its shareholders when making the decision. If they had refused to change Apple Maps, we would have seen a harsh response and the AAPL share price would drop considerably…and, I trust that all of us on Apple 3.0 would prefer the AAPL share price not drop until the next split. 🙂'
on 'Steve Jobs' author Walter Isaacson on Apple's new CEO (video) - 'My answer to the question what should Apple do next: 1) First, everyone ELSE who is not at Apple should understand the context: The only company to return 20% per year on average for more than 3 or so decades is Berkshire Hathaway (55 years between 1965 and 2020) and that;’s just because it is an older company. Apple is in a class by itself. 2) Therefore, the most important recommendation is: don’t mess with success. 3) As is true of many great companies, people working at Apple are tons smarter about Apple than anyone else not working there. Pundits, industry people, and everyone else are at a structural disadvantage when giving them advice: we might have a fresh view, but given so many people offer advice, they’ve likely heard it. 4) So I think giving Apple advice is stupid. Even for people like Isaacson who spent so much time with Jobs. 5) That’s not the same as telling Apple, hey, I want improvements A, B, or C, or as a user I need ___________. That is vital; some time ago I wrote a column about this and some readers chimed in with great ideas. But requests about the user experience are different from business advice about how to improve Apple; I just don’t think we’re in a position to make that call.'
on Heavy buying in August - 'It would be nice to see a comparison to the previous month and year over year. In June 1.42 billion shares were purchased on public markets. In July 1.23 billion shares. In August .904 billion. I have no opinion as to what this all means.'
on 'Steve Jobs' author Walter Isaacson on Apple's new CEO (video) - 'To be fair to Walter, it’s hard to come across as coherent in answering a question when the question itself is rambling and incoherent…'
on From the director of CODA: 'Being Heumann' (trailer) - 'Pushing my parents around in a wheelchair has helped me to understand and appreciate the legacy of the ADA more than ever, though I’m also at an age where I’m feeling my vulnerabilities more than ever (too many sports!). In some ways I’m pushing my future self.'
on Premarket: Apple is red - '“There have been points where panicking might have felt like a sensible thing to do” That has to be one of the strangest things I’ve ever heard an investment company research lead say. I’d really love it if, as with conflict of interest disclosure statements, interviews in print and video included a printed statement at the bottom revealing the 1-, 3- and 5-year annual returns of the individuals being interviewed about where stocks and markets are going. Obviously this would never happen, though, because there aren’t enough really good people to fill the demand for talking points, and the really good people are probably less interested in doing it than the ones who aren’t very good.'
on Heavy buying in August - 'I put in a few bucks at that time. I guess I should have waited longer'
on 'Steve Jobs' author Walter Isaacson on Apple's new CEO (video) - 'He was pretty clueless and great at stating the obvious. Nothing to see here.'
