The only thing that seems to matter to Wall Street is how much cash it has in the bank
FORTUNE -- It's been a year since Asymco's Horace Dediu -- mystified by the apparent decoupling of Apple's (AAPL) share price from its earnings growth -- first spotted the correlation between the company's valuation and its holdings in cash and marketable securities.
"As far as the market is concerned," he wrote at the MOREPhilip Elmer-DeWitt - May 7, 2012 8:04 AM ET
Among the major vendors, Samsung captured 26%, HTC took 1%, and the rest lost money
FORTUNE -- Asymco's Horace Dediu on Thursday updated his quarterly review of mobile phone profits, and the news for everyone but Apple (AAPL) and Samsung is not good.
Apple is in roughly the same position it was last quarter, with an 8.8% share of the market in terms of units shipped (according to IDC) and a share MOREPhilip Elmer-DeWitt - May 3, 2012 7:48 AM ET
Visualizing Apple's growth in earnings, revenue and margins
FORTUNE -- Asymco's Horace Dediu has posted a couple of charts that show better than I could tell the significance of Apple's (AAPL) quarterly results.
The first graphs the rise in Apple's growth- and operating-margin percentages. Dediu's two-word TwitPic comment: "Simply breathtaking."
Below, an up-to-date version of the chart with which Dediu tracks Apple's quarterly net sales and earnings growth rates.
Click here to read his commentary.Philip Elmer-DeWitt - Apr 25, 2012 12:50 PM ET
In dollars per sq. ft., the stores are 17 times more efficient than the average mall outlet
For more on Apple's (AAPL) retail efficiency, see Horace Dediu's analysts at Asymco.com.Philip Elmer-DeWitt - Apr 18, 2012 6:28 AM ET
Apple, by contrast, generated more than $575 for every iOS device it sold last year
"In terms of returns, Android is sustainable," writes Asymco's Horace Dediu at the end of a long analytical piece posted Monday. "However, in relative terms the value created leaves much to be desired."
That's quite an understatement, especially when you consider how much Apple (AAPL) makes on its mobile devices. According to Dediu, Apple generated $576.30 per MOREPhilip Elmer-DeWitt - Apr 2, 2012 2:34 PM ET
The picture is even more striking than it was a month ago
In February, Jonathan Golub at UBS started a new fashion on the Street by publishing two versions of his regular quarterly forecast: one for the S&P 500, and another for what he called the "S&P 500 ex-Apple."
Strategists at Morgan Stanley, Goldman Sachs, Barclays and Wells Fargo soon followed suit.
In Golub's February calculation, the S&P 500's Q1 2012 earnings were on MOREPhilip Elmer-DeWitt - Mar 25, 2012 6:21 PM ET
There is a precedent: iPhone sales have doubled, on average, every year since 2007
The chief difference between the independent analysts who follow Apple (AAPL) and their counterparts on Wall Street is that the independents put a premium on being right.
The professionals, with all due respect, seem to care more about not over-promising or straying too far from the consensus. (See here, here and here, for example.)
So investors who want informed MOREPhilip Elmer-DeWitt - Mar 22, 2012 5:20 AM ET
We'll find out Monday, one half hour before the market opens
Tim Cook has scheduled a conference call for 9 a.m. EDT Monday to answer the question Wall Street has been asking -- repeatedly, and with increasing insistence -- for years: What does the company plan to do with its enormous stockpile of cash and marketable securities, worth just under $100 billion as of the last quarterly report.
Mr. Market will be MOREPhilip Elmer-DeWitt - Mar 18, 2012 7:23 PM ET
If you're in L.A. Thursday or Friday, join us at the Apple Investors Summit
We'll be speaking, along with Steve Jobs biographer Walter Isaacson, Apple (AAPL) co-founder Steve Wozniak, Fortune's Adam Lashinsky, Asymco's Horace Dediu, Bullish Cross's Andy Zaky, Posts at Eventide's Robert Paul Leitau, AAPLPain's Travis Lewis, The Street's Jason Schwarz and many more.
To register, click here.Philip Elmer-DeWitt - Mar 14, 2012 5:07 AM ET
Unless something changes fast, they're all going to be Androids and iPhones
ComScore issued its January snapshot of the U.S. mobile phone market Tuesday -- with accompanying pie chart here -- but if you want to understand what the numbers mean you should check out Horace Dediu's Wednesday morning report on Asymco.com.
Dediu seems to be the only analyst who tracks these monthly reports over time. Graphing two years of comScore data MOREPhilip Elmer-DeWitt - Mar 7, 2012 8:26 AM ET
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