Bernstein

  • Is there anybody left to buy AAPL?

    An analyst asks whether it can keep outperforming the market without paying a dividend

    Toni Sacconaghi just won't give up.

    For more than two years, Bernstein Research's top Apple (AAPL) analyst been after Steve Jobs to spend some of the company's growing cash hoard ($51 billion as of September), preferably on a stock buyback or cash dividend.

    "Shareholder frustration," he wrote in an open letter to the board of directors in August, "is MORE

    - Dec 8, 2010 11:54 AM ET
  • Why Steve Jobs doesn't pay dividends

    He will ignore the latest call for Apple to share its huge cash hoard as he ignores them all

    Most of the arguments for and against the open letter to Apple's (AAPL) board of directors issued Thursday by Bernstein Research's Toni Sacconaghi have already been made. (See here and here.)

    Sacconaghi's polemics against Apple's policy of holding on to its profits -- rather than distributing them to its shareholders -- tend to MORE

    - Aug 13, 2010 8:48 AM ET
  • iPhone gross profit margin nears 60%

    An analyst takes a close look at Apple's margins and finds the Street's consensus lacking

    Bernstein Research's Toni Sacconaghi gets a lot of attention from critics when he shortchanges Apple (AAPL). (See, for example, The case of the missing iPhones.)

    When he comes to praise Cupertino? Not so much.

    Case in point: The largely unnoticed 13-page report he issued last week on the iPhone's gross profit margins, which he estimates at nearly 60%. MORE

    - Mar 2, 2010 8:21 AM ET
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