Apple's jump to Verizon is going about as well as expected. After less than one day Verizon sold out of its online pre-order stock of iPhones. When the phone goes on sale in stores in a week, we fully expect to see people lined up for blocks.
Until then, here's the latest Verizon assault on AT&T over the iPhone:
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Verizon Sells Out Of iPhone Pre-Orders In Less Than A Day (VZ, AAPL, T)
Backlink: http://gigaom.com/2009/03/09/appistry-opens-the-cloud-to-almost-all-apps/#comment-523929
Backlink: http://gigaom.com/cloud/cloud-storage-two-days-three-startups-30-million/#comment-523928
Backlink: http://gigaom.com/2010/05/09/mo-money-life-is-good-for-cloud-vendors/#comment-523927
AOL, our new owner, this morning announced that it has entered into an agreement for the sale of four office buildings it says it no longer utilizes, in addition to two undeveloped parcels of land on the East side of its Dulles campus. The buyer is CB Richard Ellis Realty Trust, who's taking over AOL's corporate park for $144.5 million in cash.
AOL says this means it has approximately $750 million of cash on hand as of October 29.
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Stock are wavering today after a report on economic growth did little to reassure investors about the health of the economy. Shares of AAPL are off marginally. Upcoming catalysts include monthly NPD data (Mac / iPod business); holiday iPhone and iPad sales updates and carrier expansion; new content revenue streams such as video, books and social (Ping); moving iTunes into the cloud; and the uptake of refreshed Apple TV. AAPL trades at 14x Enterprise Value / Trailing Twelve Months Free Cash Flow (incl. long-term marketable securities).
Apple Overtakes Microsoft In Total Revenue (Cult of Mac)
Apple surpassed rival Microsoft in overall revenue in the third calendar quarter. Apple pulled in a record $20.34 billion compared to Microsoft’s $16.20 billion. Apple also stomped Microsoft’s best ever three-month period of $19 billion in revenue. The one area Microsoft still leads is profit margin. The company reported $5.41 billion compared to Apple’s $4.31 billion.
10-K Filing Shows Record Ad Spending Offset By Record Revenue (Investor Place)
Both good and bad financial news from Apple, as annual filings of SEC 10-K forms reveal record ad spending outstripped by record revenue, but Apple also prepares investors for decreased margins due to high production costs. Apple spent $691 million on advertising this year, an increase of $190 million over the company’s 2009 ad budget. To put it into perspective, advertising revenue has accounted for 1% of its revenue spending thanks to the massive increases in sales of Apple’s complete product line.
The iPhone 4 Sold Out In China In 10 Hours After Online Store Launch (9to5Mac)
Apple launched its online retail store in China this week and promptly sold out of iPhone 4 units within 10 hours, forcing the company to suspend sales. With Apple’s recent move to stop iPhone sales in its physical stores in China, there’s now nowhere to purchase an iPhone in the country (outside of the black market). China Unicom says the availability situation will improve after November.
Apple Vaults Past RIM To Become Fourth Largest Handset Manufacturer (Fortune)
The iPhone has been one of the top selling smartphones since it hit the market three years ago and has finally cracked the top five, according to IDC. Apple overtook Research in Motion to become the world's fourth largest manufacturer not just of smartphones, but of all mobile phones. Apple's unit sales nearly doubled with 90% year-over-year growth in calendar third quarter. By contrast, Nokia's grew 1.8%, Samsung's less than 20% and LG Electronics shrank more than 10%. Read more at Business Insider.
Apple Clarifies The Term Rental: You Rent It On the iPad, You Watch It On The iPad (The Mac Observer)
Apple updated movie terms and conditions: "content rented on certain devices may not be moved to other devices.” Meaning: 1) content rentals are viewable on only one device at a time; 2) users must be connected to the Service when moving rentals doing so only between your computer and other compatible devices. 3) content rented using whatever iDevice may not be moved. This last point sucks. You cannot rent any content on your Apple TV, iPad, iPhone 4, or iPod touch and use it on anything other than the device you rented it on. No movie rental or television rental can be moved from one iDevice to another.
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