Andrew Neff
Andrew Neff
analyst community financial help meeting offset presence steve
Steve Jobs' presence at the analyst meeting can help to energize the financial community and offset some of the 'sell on the news' pressures.
address behind early effective needed partner tried
They were probably a little behind the curve, but it's still early in the game. Compaq needed a partner for an ASP opportunity. They tried to address it on their own, but this is probably a more effective way to be doing it.
apple clear dominating french impact microsoft
The impact on Apple is not clear yet. But the French are late; Microsoft and Apple are already dominating the market.
good numbers operating
The operating numbers were not as good as advertised.
appliance beginning business ibm network outlook positive provided revenue
While the earnings-per-share outlook was inline with expectations, Network Appliance provided a positive revenue outlook for the fourth-quarter with IBM business just beginning to ramp.
across ahead business demand estimates halfway management previous quarter raised reflect relative strong sun trends upside
We raised our EPS estimates for Sun to reflect upside in relative demand to our previous expectations. Sun management indicated that demand trends were ahead of its expectations ... and that business halfway into the quarter was very strong across the board.
buying calendar continue operating opportunity stock view
We continue to view the stock pullback as a buying opportunity, with Apple's price-to-earnings at 17 times our calendar 2007 operating earnings-per-share estimate.
compelling ibm maintain near pressure rating remain stock
While the stock could remain under pressure near term, we maintain our 'buy' rating on IBM owing to a compelling second-half story.
discount ibm percent valued
We still see IBM attractively valued at a 13 percent discount to S&P multiple.
beginning business clear gain good signs turnaround
We upgraded Compaq because we see clear signs of a turnaround beginning to gain traction with good pick-up in business momentum.
apple balance based capital financial future growth increasing innovative invested ownership positive potential price products rate rating reasonable return sheet strong target view
We reiterate our 'buy' rating on Apple and our price target of $80 based on valuation of two times the company's EPS growth rate of 20 percent, reasonable in view of its innovative products and strong product cycles, ownership of technology, strong balance sheet and financial management, increasing return on invested capital and potential for future positive surprises.
among clearer leaders-and-leadership reflects seeing thinking
We're seeing alliances, not mergers, among leaders, which reflects clearer thinking about what is good.
aggressive bound concerned consumer continued corporate demand pc pricing seeing signs spreading stocks weak weakness
When we downgraded the PC stocks in September, we were concerned about signs in the weak consumer demand -- which has continued to deteriorate. Now we are seeing signs of this weakness spreading into small/medium corporate and of aggressive pricing in low-end servers. This weakness is bound to spread.
believe cited company demand extent industry laundry lead list problems products related specific woes
The extent of Apple's pre-announcement and the laundry list of problems that the company cited lead us to believe that its woes are as much company specific as they are industry related and the demand for products is just not there.