Andy Kessler explains in the WSJ's opinion section, how he would go forward in an effort to take down Apple. He writes: When Apple announced last week that it will soon replace Intel processors with its own, I had a flashback to 1993. Morgan Stanley’s technology investment banker Frank Quattrone called me in New York: “John Sculley”—CEO of Apple—“wants to meet with you Friday,” he said. It was Thursday morning. “About what?” I asked. “I don’t know, do your virtual thing.” I booked the 9 p.m. to San Francisco and the redeye home. Meanwhile, I was on the phone all day with the banking team … [Read more...]

Michael D. Smith, a professor at Carnegie Mellon University, shares in The Atlantic, why he is both afraid and invigorated by America's recent experiment with online learning. He writes: I need no convincing of the value of campus life and in-classroom education. I recognize that online platforms can’t perfectly replace what we deliver on campus. But they can fulfill key pieces of our core mission and reach many more students, of all ages and economic backgrounds, at a far lower cost. What online services lack in quality, they make up for in convenience—and as they get more popular, they’re … [Read more...]

For all practical purposes, Apple is the world’s biggest stock. (Saudi Aramco is technically larger, but the float is small). Since year-end 2015, Apple’s sales have increased at a compounded annual rate of about 3.5%. Net income has increased at a compounded annual rate of about 1.5%. Massive stock buybacks have inflated the annual growth rate in per-share earnings to 7.9%. How has Apple’s share price performed since year-end 2015? The shares have risen at an unimaginable compounded annual rate of 31% per year. Unimaginable for a large company whose sales and earnings have grown at … [Read more...]