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Technology Stocks : Apple Inc.
AAPL 270.82-0.2%Dec 22 3:59 PM EST
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To: Ryan Bartholomew who wrote (165345)2/4/2014 3:41:53 PM
From: slacker711  Read Replies (1) of 213177
 
The US cash isn't tax exempt. And why are you assuming a 30% tax rate for the foreign cash?


They already paid taxes on the US cash. I have never seen anybody discount US cash further when looking at valuation.

They have also already paid some taxes on the foreign cash. That amount is subtracted out from any US taxes owed. Perhaps it is higher than 30%, but that number is probably in the ballpark.

The price for the Moto X and some other peers isn't quite similar. In my course of business, I've seen a big rise in the number of people asking me, "I'm finally ready to get something other than an iPhone because I keep seeing these really nice Android phones that are a lot cheaper... what should I get?" Two or three years ago, there weren't many phones as nice as the iPhone, and the ones that were cost almost as much. No longer the case.

Yep, it has no longer been the case for quite a while so a significant amount of the impact is already in calendar year 2013 earnings.

Also, I noticed that you switched my example from the Galaxy to the Moto X. You do know that the Galaxy series sales dwarfs Moto X sales, right? It is probably an order of magnitude higher for the Galaxy range. There is quite a bit of share available from Samsung if Apple creates the right offering. Screen size is absolutely a gating factor in customer decisions.

Slacker
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