John Konopka on Premarket: Apple is red - '@Bart Fascinating data. Thank you!'
on Premarket: Apple is red - 'John: According to the report on Apple’s investor site, repurchases have totaled much less than $100 billion per year. Last fiscal year open market repurchases totaled $89.3 billion. In FQ1 this year (the December quarter) the company deployed $25 billion for open market repurchases. In FQ2 (the March quarter) repurchases came in at $11 billion.'
on Premarket: Apple is red - 'I would upvote this 100X if possible. This is great investigative data, Bart! Thank you.'
on Bloomberg: Apple is flirting with Intel and Samsung behind TSMC's back (video) - 'Gemini says: “TSMC is currently building three advanced semiconductor fabs in Phoenix, Arizona, with plans to expand to a total of six. The first fab began high-volume production in early 2025, with the second and third facilities scheduled for production by 2028 and 2030, respectively, as part of a $165 billion investment in the region.” Key Details on Arizona Fabs: Total Planned: Up to 6 total fabs are planned to form a “megafab” cluster. Expansion: Following a massive $100 billion investment update in March 2025, plans expanded from an original two, then three fabs, to six. Advanced Packaging: The site includes two, potentially expanding to four, advanced packaging facilities to support “all-American” chip production by 2030. Capacity: The Arizona complex is designed to produce 30% of TSMC’s 2-nanometer and more advanced capacity. The project, which is the largest foreign direct investment in U.S. history, is supported by $6.6 billion in U.S. federal grants. —————— What is Apple’s role in TSMC’s building of Arizona fabs? “Apple is the anchor customer and key driver for TSMC’s Arizona chip factories. By committing to buy millions of advanced chips, Apple enables TSMC to build leading-edge, 4-nanometer and 3-nanometer fabrication facilities in the US. This partnership aims to strengthen the American semiconductor supply chain and secure a local source for iPhone and Mac silicon. Key Aspects of Apple’s Role: Primary Customer & Financer: Apple is the first and largest customer, providing crucial demand that justifies TSMC’s $65 billion investment in Arizona. Technology Driver: Apple’s need for advanced chips—for AI, 5G, and data centers—drives the requirement for high-end technology (4nm and 3nm) at the site. Supply Chain Localization: Apple is moving part of its silicon production to the US, aiming to produce tens of millions of chips annually at the Arizona site for its devices. Infrastructure Support: Apple works closely with TSMC and other suppliers to establish an end-to-end U.S. silicon supply chain. Synonyms/Related Roles: Anchor Tenant: The foundational client ensuring the plant’s financial viability. Strategic Partner: Collaborating closely on development and high-volume manufacturing. Lead Customer: Driving the adoption of new, local technology nodes. Technology Partner: Assisting in ramping up manufacturing yields, crucial for quick production success. This initiative is a critical part of Apple’s broader effort to increase its investment in U.S. manufacturing.” Note bene: These AZ TSMC as well as Texas Samsung fabs are a direct result of lobbying by Apple and others for the Chip Act of 2022 under the Biden Administration. We are seeing the long term results and effects of this investment and of course, long term planning by Apple and others. “The CHIPS and Science Act of 2022 is a US federal law designed to boost domestic semiconductor research, development, and manufacturing. It provides approximately $53 billion in subsidies, grants, and tax credits to reduce reliance on foreign chip production, primarily targeting competition with China. The act also funds R&D in AI and quantum computing, and mandates strict, 10-year security guardrails against expanding manufacturing in “countries of concern”. Note bene II: These fabs will also require massive amounts of electricity and cooling water in an area already known for high heat, worsening drought, and electrical grid strain. But land, previous tech, and of course politics played a role in where it’s located.'
on Carter Worth on Apple: 'It feels like there's very little downside' - 'PED’s take: Worth sees the current price as an entry point into AAPL ahead of WWCD Well of course he would. All the smart guys wait until a stock hits ATH before they press the “BUY” button. I take Worth’s affirmation as a more serious death threat than the infamous “Law of Large Numbers”'
on Carter Worth on Apple: 'It feels like there's very little downside' - 'Personally, I look at chart reading as akin to tarot card reading. Or interpreting the ouija board. Anyone can “see” hints of whatever they want. Related question: Why aren’t most fortune tellers incredibly wealthy?'
on Bernstein raises its Apple target $10 to $350 - 'So now Dan will have to raise his target to stay on top? 🙂'
on Premarket: Apple is red - 'Wow!Talk about a negative spin to a story of positives! It’s illogical to say that buybacks DON’T support the stock price, and just as illogical to say that if they did it would somehow be a BAD THING. As they say in The Fantastics, moderation is the moral. Sure, if the underlying company was weak, it might, if the numbers were large enough, be somehow covering up weakness. But neither of those two things are true about Apple: It’s not weak, but strong, and there’s no way Apple’s buybacks constitute a major force on the quarterly market. Apple is, however, the largest single player in the AAPL market, and since it sits out the open market possibly one month out of each quarter (but still uses ASRs upon occasion even then), then it’s no surprise that, as I said, when the cat’s away the mice play. And vice versa. And the advantage to long term stockholders of Apple buying back undervalued stock is unarguable: Look at the average price Apple has paid for its anti-dilution program, and look at the present price, and you’ll see a huge difference. Meanwhile, buying back nearly half the float has in effect quietly nearly doubled the ownership per share of what was then a much, much smaller company. It was literally an investment that has paid forward an ROI, and it was bought at an average price that was itself a bargain. You know, I have no problem with being rationally convinced, because nobody has a right to their own facts, and if I’m wring, I’m more than happy to be taught I’m wrong. But standing off at a distance and lobbing unsubstantiated bombs is just the equivalent of fake news shouted at the top of one’s lungs, and that I have zero interest in even considering.'
on Carter Worth on Apple: 'It feels like there's very little downside' - '(”nicknamed Worthless”) Even with today’s reversal of Worth’s past recommendations (all negative), the nickname remains appropriate.'
on Carter Worth on Apple: 'It feels like there's very little downside' - 'If technical analysis worked reliably, Carter Worth would be worth a mint. He is not. If technical analysis worked reliably virtually every investment house would use it. They do not. I could go on.'
on Carter Worth on Apple: 'It feels like there's very little downside' - 'So those of us who have long memories about Carter Worth’s (nicknamed Worthless ) calls on Apple stock might be happy to hear him have a higher opinion on the stock today at 280 or so. Because many of us old timers likely were invested in the stock when it was 1/3 of the price or lower we are probably not that impressed. If you listened to his advice in the relatively recent past you potentially missed a huge return before he has upgraded his call to Neutral. Now I don’t judge people on only one stock call but his reluctance about Apple stock calls into question his whole methodology for valuing a company and its stock potential. On the other hand at least today we don’t have to hear how a chartist is predicting a drop coming in Apple stock repeated ad nauseam.'
on Bloomberg: Apple is flirting with Intel and Samsung behind TSMC's back (video) - 'Could these alternate fabs produce A-series Neo processors?'
on Bloomberg: Apple is flirting with Intel and Samsung behind TSMC's back (video) - 'That’s a clever observation Greg!'
on Premarket: Apple is red - 'I hope that a green Apple can be explained without the propping by present buybacks.'
on Bloomberg: Apple is flirting with Intel and Samsung behind TSMC's back (video) - 'Maybe Apple doesn’t always need TSMC’s most advanced chips and can have secondary suppliers at the lower end.'
on Bloomberg: Apple is flirting with Intel and Samsung behind TSMC's back (video) - 'I think Apple is always having talks with all the chip makers. That is part of their ability to build their supply chain. I think Bloomberg is just trying to stir things up'
