MetroPCS has never offered the iPhone to its 9 million customers, but today’s announcement means the carrier will begin migrating to T-Mobile’s network infrastructure and presumably eventually support the iPhone alongside T-Mobile for its customer base. The new combined company will be lead by T-Mobile CEO John Legere, but for now T-Mobile and MetroPCS will continue to operate as separate brands.
Sentiment: Strong Buy
Judging from a recent conference call for Greenlight Re, Einhorn may have kept adding to the position in the second quarter. The hedge fund manager, who said Apple’s shareholder-friendly actions in April marketd “a major step forward,” noted that he has added to his position in the iPad-maker, though it is not clear whether he meant since the firm’s last portfolio disclosure or more recent purchases.
While the first-quarter filing shows an addition to Apple, Einhorn also closed up stakes in a pair of other tech heavyweights.
Piper Jaffray on Tuesday announced the results in its new iPhone resale value index, finding that Apple’s iPhone depreciates at a rate less than half that of corresponding Android devices from Samsung,”
Mainland China's Central News Agency reports today that Hon Hai Precision Industry Co., the world's largest contract electronics maker of products such as Apple's iPhone and iPad, reported more than a 12 percent monthly increase in sales for April, citing strong demand for consumer electronics products. Hon Hai currently holds about a 70 percent stake in Foxconn which experienced a pickup in iPhone shipments in April from the first three months of the year
Goldman Sachs’s Bill Shope, who has a Buy rating on shares of Apple (AAPL), and a $500 price target, this morning writes that investor conversations suggest to him some parities are increasingly worried about not having the rise in the stock in their portfolios given a surge of 12% since April 23rd, when the company announced a doubling of its capital return program.
Teen survey tells the truth
The most telling statistic regarding Apple comes from a study recently issued by Piper Jaffry. The study was a survey of 4,800 teens. 1,600 of the teens were from affluent households and 3,200 came from average income households.
Of these teens, 48% already own an iPhone and 62% plan on making an iPhone their next smartphone purchase. Additionally, 51% of the teens own tablets with 68% of those tablets being iPads. Of the 17% of teens who plan to buy a tablet in the next 6 months, 68% plan to buy an iPad.
So forget all those advertising campaigns from Samsung and Google that denigrate the iPhone. Forget all the media headlines about the latest iPhone killer. iOS devices are still the hottest technology.