jobs no more?

So I wake up to steve jobs resigning as CEO of Apple (AAPL), and wondering now if this is it? is he gone for good? How much influence will he exert from the chairman position? And more importantly, what's this mean for the stock?

Market hasn't taken this well- AAPL is down $17 (or about 5% or so) in the aftermarket on the news. Stock trades at a very reasonable 13x earnings, they still got over $70billion in cash (or about 20% market cap), probably 30% growth rate over the next few years (measurable), and really controls the markets it competes in. The key is innovation going forward... you HAVE to believe that product pipeline for the next 18 months is set, and so the test will be beyond that. My thoughts:

-I will look to buy on the dip... at 357 or so, this is where I initially sold (~march) due to my want to take profit and wait and see what the situation with SJ would be. Now that the news is out, let the market shake out and make a quick trade for a bounce back up to 380 or so in the near term
- longer term this probably isn't an issue. Tim Cool is NOT John Sculley. Cook is an AAPL guy, and knows the company, culture, and product position and ethos. I think this is a long term stable (but can't say positive cuz u know, he's replacing STEVE!)
- valuations do give the stock some fundamental support... stock is priced mostly inline with the market and probably only slightly above it's peers.

Otherwise- probably look elsewhere at this point and may look to owning a nominal amount of AAPL just cuz i love the product and it feels good walking around as an 'owner' of the company :P

Other trades I'm looking at:
- Citi and/or Bank of America --> have gotten completely clobbered lately and while I think it's not undeserved, there is room to trade off the bottoms, as these bounce backs are giving 10% spreads on a trade!
- RIMM - I'm still an owner (at about 25.70), and still playing the wait and see for a takeout... Lots of momentum following GOOG's crazy buyout of Motorola Mobility, so let's see this thing get up to 40!!!!

I'm wondering how long the HK market going to stay at these depressed levels... market's bounced a bit this week, but when I see market giant HSBC languishing at 65, I think this might be a selectively good buying opportunity... Especially when I consider that longer term you might sit on Div yields of >5%?

my final thoughts- I think Obama has a growing probability of being a one term prez. I still find that amazing, and even more so, how a nation could be so dumb (for lack of a better word) to take this teabag party seriously... I mean they actually are sandbagging this country with their finger pointing and playing populist ideas that have no hope of actual consequence (yes, I'm still a registered republican). Anyway- it's a shame, and I'm certainly glad I'm not living in the US&A right now. It's a joke. So's my passport.

anyway - gonna be interesting to see how the broader market reacts to steve's news. In the meantime, pray for a RIMM takeout!!! :P


(Disclaimer: these thoughts are my own and represent nothing more than personal market ramblings. I do not purport to have full facts on my ramblings and on occasion will make egregious errors just because I can! Do not use the information here as recommendations and be sure to do your own research to make investment decisions. In short be entertained!)

oracle of HK

Is it me or am I the only one on this side of sanity that feels this Google-Motorola Mobility is headed for a big F?? ok so Google picked up a packet of patents, but for 12BILLION DOLLARS? and some fools are calling this a good deal?? So if these patent wars all of a sudden get a straight head and stop the foolishness, this deal is essentially crap..

That's where the world/US is today... there definitely seems a warped sense of value and reality, where Americans get so used to buying things on the expensive side that prices almost just get bid out by itself. Craziness... that merry-go-round gotta end soon, but I'm strongly hoping not before RIMM gets a bloated bid!!!!

TAKE OUT!!

With the take out of Motorola Mobility (ticker: MMI) I'm eagerly looking for RIMM to entertain takers or maybe even a nice pop on the news.

But on MMI... The company hasn't made money in a while, and struggling to compete. so for anemic revenue growth and a stale product (droid and atrix phone maker?) and a relative flop of the Xoom... i feel google reached high and too hard. A 60% premium for a company that issue a disappointing outlook for the rest of the year? sorry, but that portfolio of patents better be worth a lot more than people think. I think googs was bidding against themselves!
(disclaimer: I hold RIMM)

A RIMM pop will make me sell out I think... target bout 28.50

Switch into some interesting laggards like CSCO. Maybe even look at a bank or 2... C and JPM look interesting for a trade?

zambra

dropped linnet off at Oolaa's for lunch today with the girls then took Caitlyn to zambra for some afternoon tea. We were circling round for bout half an hour and just couldn't get a spot, so I gave up and stopped the car and told Caitlyn to pray with me and ask Jesus for a spot. One our last round, we got a spot right in front of zambra! THANK YOU JESUS!!!!!!

fatherhood x2
has been a great 7 weeks as number 2 arrived on June 1! After 7 weeks of very lack of sleep, this week Adelyn has started sleeping thru the 3am feed! Good girl!!! I love seeing my 2 (3?) girls - and marvel at how God has blessed me, and my family so much! I can't imagine a life without Him, and the purpose that has come to my life through Him! Adelyn can cry much, but gives us the occasional big smile, and has really mastered those robotic baby moves as only a newborn can! She's growing so big so fast, and seems much bigger than Caitlyn was at this age! She still has a bit of a cone head at 7 weeks which I think is quite weird, but I think it might be normal? Any expert advice?

work
Rule 1 - don't talk about work in cyberspace

random thoughts
For some reason, I am really interested in how American politics is playing out... Especially with this whole US debt ceiling issue. Just raise the bloody limit and get it over with! 5 simple steps to get the fiscal situation in order:

1) restore short term confidence - raise debt ceiling and stabilize the market...both sides grow up please!
2) cut the subsidies to the big corps- farm/corn, oil, etc. This is not needed and don't let those poor pleading farmers kid you
3) cut govt spending - yes not popular with dems, but too bad, it's not a time for big govt programs
4) raise taxes- yes, there is room to let the tax break for the rich expire. Let's be practical folks
5) stop saving the bloody banks- they don't need to be kept afloat.

In the meantime, I'm keeping my stock portfolio lean. (disclaimer: these are my own and i have no access to information other than my own research and market knowledge) Some positions I have-

LVLT - a play on the growing VOIP market.
MSFT- a ton of cash, a promising mobile OS, still dominant PC Software, and now a nice dividend and less than 8x earnings. BUY!!
BRK/b - who wouldn't wanna hold Berkshire and all the fantastic companies it owns? If Buffett ever goes, stock will drop and I'll buy more
INTC- great play as They coming back with a move into mobile processors and of course THUNDBOLT tech!

others I'm watching: AAPL (never should have sold!), C/JPM/BAC (banks are so cheap that they gotta be screaming cheap at some point!), emerging markets- would look for broad exposure so maybe a mutual fund

Things I wish for my iPad/iPhone
- flash, or at least get HTML5 into more streaming sites!
- more for iPhone- that double-click and swipe bottom to the quick iTunes control... why the heck is there another volume control??? Brightness please? Or at least make that option??
- full edit on contact groups
- speaking of which, why can't I email a whole group by group name???
- make em stop asking me if i want to join networks even if that option is turned off!!
- picture upload into blogger? It's seriously making me contemplating moving my blog... Unless there's and app already??
- photo album- if I get the camera kit, why can't I create new albums to organize photos?? So basic???? How do I use this as my only travel tech??
- font options in notepad??

Anyway enough ranting! Just chillin at a cafe with a "pen" in hand and wanted to write something to nobody after more than a year! Hope it's not another year before I make the next one!!