Apple reports Q3 results • Hacker News Board

Re: Apple reports Q3 results

#191

Post by pantaloons » Fri, Jul 31, 2020, 2:05 AM UTC

chollida1 wrote: post #80

crazygringo wrote: post #63

Earlier quoted context omitted.

I'm curious. Do trading platforms automatically adjust existing limit orders the night of August 24, e.g. dividing all prices by 4? (Or just cancel all limit orders?) I mean I would assume they do, but just wonder if there are ever any severe "gotchas" with a stock split with certain existing buy/sell arrangements, or derivatives etc.

Exchanges automatically cancel out GTC and GTD orders when splits occur. Options are also split to take the stock split into account. Trading platforms shouldn't have to do anything unless they are faking GTC orders by resending them out each day as Day orders. But if your vendor is doing that then, get a new vendor as that's completely bush league.

A confusing and incorrect comment all around.

Exchanges do not receive or handle GTC or GTD orders, see for example the NYSE pillar spec.[1]

Broker-dealers handle stock splits and the behavior varies according to your broker. Some brokers will request the broker-dealer cancel all orders back, but most brokers allow limit prices to be adjusted for orders "below the market" (buy limit orders and sell stop orders). The Fidelity FAQ is an illustrative one.[2]

I'm not sure what a "vendor" is here, but brokers send GTC orders to broker-dealers, who forward them to the exchange every day as a day order. This behavior is industry standard and certainly not bush league.

[1] https://www.nyse.com/publicdocs/NYSE_Pillar_Gateway_FIX_Prot...

[2] https://www.fidelity.com/trading/faqs-order-types

Re: Apple reports Q3 results

#192

Post by ryall » Fri, Jul 31, 2020, 2:05 AM UTC

throwanem wrote: post #50

Jommi wrote: post #35

Earlier quoted context omitted.

What planet are we living on? 600 a week is 2400 a month, which way over any entry level salary in Europe. How inflated are the salaries in US? Or are people used to some really abnormal level of living?

Do entry-level salaries in Europe have to cover health care? They do here. Even if you're working somewhere with a group plan, you're still taking more out of each check for medical coverage than for anything else except maybe taxes. And if you're on your own for it, it's the same, except you pay more and the quality of care is a lot lower because the "marketplace" plans are the absolute minimum the insurers can get…

“ Do entry-level salaries in Europe have to cover health care?”

Yes, it’s called tax.

Re: Apple reports Q3 results

#193

Post by cj » Fri, Jul 31, 2020, 2:07 AM UTC

rurp wrote: post #174

Cookingboy wrote: post #134

Earlier quoted context omitted.

But not if you want to trade certain contracts positions. For example I'd like to sell some covered calls for my AMZN as a hedge against a correction later, but since I don't own $300k+ of AMZN share, I literally cannot sell a single call contract.

I'm really surprised Robin Hood and others haven't started offering fractional options contracts yet. It seems like an obvious next step for retail trading. I'm not saying it would be a great idea or anything, just that it's going to happen eventually and being first will probably garner a fair amount of business and attention (both positive and negative).

I imagine fraction option contracts are much less practical.

As an example, I’m currently holding contracts I purchased in March on SPXL and the daily volume is less than 5. With such low volume, the practicality of fractional ownership is not there.

Re: Apple reports Q3 results

#194

Post by qroshan » Fri, Jul 31, 2020, 2:09 AM UTC

schrodinger wrote: post #153

throwaway5792 wrote: post #126

Earlier quoted context omitted.

Why is that irrelevant?

It’s not irrelevant, but it also isn’t a fair indicator of the total value of the company. Let’s say a company had 1000 shares outstanding at $1000 each. Just because one person would buy a share for $1k doesn’t mean that anyone would buy the whole company for $1mm. If people started selling off their shares, the share price would drop, so maybe in the end this hypothetical company would end up worth $500k. I’m not t…

You have a point for illiquid markets (like real estate). Not true for highly traded stocks and currencies

Re: Apple reports Q3 results

#195

Post by mrpippy » Fri, Jul 31, 2020, 2:09 AM UTC

wutbrodo wrote: post #152

spideymans wrote: post #125

Earlier quoted context omitted.

>Wow, iPad revenue up 31% YoY after being down ~10% in the last few quarters. Similar numbers to a Q1 (holiday season). I guess it makes sense that the tablet form factor is popular when so many people are indoors. I wonder how much this has to do with the release of iPadOS 13, which has made the iPad a significantly more capable "computer" than previous versions of the operating system. For the majority of users (yo…

> For the majority of users (you don't fall into this category, fellow Hacker News reader), the capabilities of iPadOS are quickly approaching that of macOS. Huh wow, I haven't thought about iPads for a while, but apparently they even added multiple windows (predictably, 5 years late). That's probably the biggest blocker I considered that made tablets a toy even for laymen users (you hardly need to be a leet haxorz t…

On iPadOS you pretty much do need to be a leet haxor to use multiple windows, it’s a complicated mess involving swipes that’s totally undiscoverable

Re: Apple reports Q3 results

#196

Post by samatman » Fri, Jul 31, 2020, 2:16 AM UTC

FridgeSeal wrote: post #127

crazygringo wrote: post #66

Earlier quoted context omitted.

There's a good argument to be made that Apple devices are not luxury goods but save you money in the long run. They often last for many more years than competitors' products, receive upgrades for longer, become obsolete less quickly, and Apple will repair them both under warranty and out of warranty. (Many competitors simply do not service their products.) And when you're finally done with your device, you can often…

Oldest phone that gets iOS updates is what, the 6s or the 7? The former having come out in 2015, that is an amazing support lifetime. I’m planning on keeping my iPhone X past the end of the year, which takes it to a 3 year lifetime, which works out as ~$600/year which is amazing value.

Those are the oldest phones which still get new versions of iOS.

My mother has a 6, and it still gets security updates for (IIRC) iOS 11.

It's her second 6, by the way. The battery on the first one started inflating, and they replaced it with a refurbished unit for the price of a new battery.

No other company plays in the same league as Apple when it comes to product support.

Re: Apple reports Q3 results

#197

Post by kalleboo » Fri, Jul 31, 2020, 2:17 AM UTC

ksec wrote: post #184

ajzinsbwbs wrote: post #114

Wow, iPad revenue up 31% YoY after being down ~10% in the last few quarters. Similar numbers to a Q1 (holiday season). I guess it makes sense that the tablet form factor is popular when so many people are indoors. Also, services revenue grew YoY but it’s the first time it didn’t grow QoQ in a long time, so it seems to have stagnated. Services include a lot of recurring revenue so they should be consistently growing Q…

>Services include a lot of recurring revenue so they should be consistently growing QoQ. You will need to examine Apple's Services Revenue more closely. Apple puts $10/ unit to Services as OS / Map / Siri usage. Considering Apple had record iPhone / iPad / Mac Shipment per quarter. Google paid Apple roughly $10 per year per Active User as default search placement. Or Roughly $10B per year. App Store is by far the lar…

AppleCare+ is also in Services

Re: Apple reports Q3 results

#198

Post by GeekyBear » Fri, Jul 31, 2020, 2:18 AM UTC

alacombe wrote: post #159

reaperducer wrote: post #51

Earlier quoted context omitted.

Perhaps also that Apple is known for making quality phones. In times of economic pressure, people buy for the long-term.

In times of economic pressure, buying a $1000 phone is not the smartest idea.

Buying a $399 iPhone SE that will receive OS and security updates for at least six years, on the other hand, works out to less than $70 a year.

Re: Apple reports Q3 results

#199

Post by samatman » Fri, Jul 31, 2020, 2:20 AM UTC

VikingCoder wrote: post #154

casefields wrote: post #136

Earlier quoted context omitted.

Not in the US which is what OP was referring to. Also, that worldwide market share is massive for junky low-end androids. iPhone alone is ~50% of US market share: https://www.statista.com/topics/2711/us-smartphone-market/ Android splits the rest.

Sorry, where does it say or imply "US"? Presumably people are buying the best phone for their budget and needs. Per OP, "They don't own a PC, this is the only way to safely conduct e-commerce." How many people with an iPhone do you want to bet have a PC, versus how many people with a "junky low-end android"? I'll bet you vastly more iPhone owners have another computer.

"DMV" implies the US, although I can see where that might not be clear to a reader from another country.

Like it or not, HN is an English-language forum, run by a company based out of SF, and a lot of commentators presume that context. I try not to, just as I strive to use clear English for the benefit of ESL speakers. But it is the default.

Re: Apple reports Q3 results

#200

Post by [deleted] » Fri, Jul 31, 2020, 2:24 AM UTC

Wohlf wrote: post #121

cblconfederate wrote: post #113

Earlier quoted context omitted.

There is only so many trillions to be invested in stocks (because, where else?), and they have already been invested. Stock markets have for so long had a totally irrational relationship with day-to-day news, that they probably won't move the needle much.

First and foremost, the stock market is not the economy. Second, stocks are primarily traded on their expected future value, not current profits, hence why companies like Tesla have a price to earnings ratio that is absurd.

[deleted]