Putting Office exclusively on Windows tablets may be a costly mistake, says analyst
FORTUNE -- Two and a half billion dollars.
That's how much Morgan Stanley's Adam Holt estimates Microsoft (MSFT) may be leaving on the table by not offering a full version of its Office suite (Word, Excel, etc.) on Apple's (AAPL) iPads.
Here how he gets that number.
For starters he estimates that Microsoft probably sold fewer than 1 million Windows-based tablets MOREPhilip Elmer-DeWitt - Feb 14, 2013 10:04 AM ET
That's a dumb bet, says Katy Huberty, given 14% growth in the markets Apple serves
FORTUNE -- The chart at right, posted before Apple's (AAPL) shares lost another $12 (2.5%) Tuesday, comes out of Morgan Stanley's "What's in the Price?" stock analyzer. It suggests that at Monday's $480 a share, the market was pricing in long term earning growth for Apple of -4%.
Anything is possible, of course.
But in a note to MOREPhilip Elmer-DeWitt - Feb 13, 2013 6:53 AM ET
Morgan Stanley finds evidence that Apple's margins will improve before the end of 2013
FORTUNE -- Apple's (AAPL) quarterly gross margin -- the measure of how efficiently a company turns sales into profits -- peaked in March 2012 at an astonishing 47.4%, along with its quarterly stock performance (up 29%).
But what goes up must come down, and when Apple warned Wall Street that its margins were likely to fall -- to MOREPhilip Elmer-DeWitt - Feb 4, 2013 6:48 AM ET
A new Morgan Stanley survey suggests there is still room to grow
FORTUNE -- "Despite concerns to the contrary," writes Morgan Stanley's Katy Huberty reporting the results of a proprietary survey of 1,000 U.S. consumers, "iPhone and iPad demand remain strong. C4Q US iPhone purchase intentions beat our forecast. Stable 50% iPad share also surprised us, despite our modeled drop next year."
Among the key findings:
Strong iPhone 5 demand. Survey suggested 33% MOREPhilip Elmer-DeWitt - Dec 17, 2012 12:15 PM ET
"iPhone and iPad mini sales," she says, "are surprising to the upside"
FORTUNE -- Morgan Stanley's Katy Huberty on Thursday joined the chorus of sell-side analysts coming to Apple's (AAPL) defense in the midst of the stock's worst sell-off since the 2008 recession. (See What's eating Apple?)
"Our Asia supply chain meetings point to potential momentum behind several key AAPL debates," she writes in a note to clients. "Namely, iPhone and iPad MOREPhilip Elmer-DeWitt - Nov 15, 2012 11:30 AM ET
A high-quality, fast-growing mega cap company that gets no respect on the Street
Katy Huberty, Morgan Stanley's chief Apple (AAPL) analyst, issued an elaborate report Monday entitled AAPL: How Do You Do Risk Management? that I can't pretend to understand completely -- not even the title.
But two takeaways are clear: (I quote)AAPL is the most widely held US company among hedge funds, with 26% of all large hedge funds holding positions MORE Philip Elmer-DeWitt - May 21, 2012 9:56 AM ET
Independent analysts take the top 8 spots in our quarterly earnings smackdown
FORTUNE -- Neither side scored a clear victory this time around. The professional analysts as a group were far too cautious. And our expanded cadre of independents showed signs of irrational exuberance.
But the list at right, which ranks 57 Apple (AAPL) analysts by the accuracy of their fiscal Q2 2012 revenue and earnings estimates, shows that the independents have MOREPhilip Elmer-DeWitt - Apr 25, 2012 7:12 AM ET
What was their "bull case" price target in January became their "base case" in March
It must have been an embarrassment for Morgan Stanley's Katy Huberty that her published 12-month price target for Apple (AAPL) -- set on January 25 -- was stuck at $515 while the actual share price zoomed past it and was setting new records almost every day. (Tuesday's close: $568.10.)
On Wednesday she did something about it. She MOREPhilip Elmer-DeWitt - Mar 14, 2012 4:49 AM ET
Sales of the CDMA version began Friday at China Telecom's 2,850 retail outlets
If China Unicom (CHU) is the AT&T of China, having enjoyed an 18-month monopoly as Apple's (AAPL) only official iPhone carrier in the world's largest mobile phone market, then China Telecom (CHA) just became its Verizon.
The carrier began taking orders for the iPhone 4S a week ago, and by the time doors opened Friday at China Telecom's 2,850 retail MOREPhilip Elmer-DeWitt - Mar 9, 2012 5:18 AM ET
A relatively small price cut, it seems, can make a big difference
In a proprietary survey conducted last fall and released Wednesday, RBC Capital's Mike Abramsky asked some price-sensitive customers who said they had no intention of buying an iPad whether a $100 price cut might change their minds.
Among 1,100 respondents, 17% said they would be "somewhat likely" to buy a $399 iPad and 3% said they would be "very likely" to MOREPhilip Elmer-DeWitt - Mar 8, 2012 11:45 AM ET
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