It was a big Friday for Apple iPhone lovers as those who pre-ordered were able to pick up their brand new iPhoneX smartphones … for the insanely high $999 or $1150. Wow, have prices risen for cellphones in recent years (of course so has their function) … and they are back to the price of my first mobile phone. In many areas there were also lines for those hoping they could just walk in and pick up a new iPhoneX or just their for the buzz of the day? A tear down of the phone surprise a few with two power cells.
The most noticeable feature is the display without the "home/fingerprint reader" button freeing up space for display use. About the only odd look is the "notch" for the speaker and FaceTime camera that intrudes into the OLED display. Although security can still be handled by "pin" code, the newest and most controversial new feature is FaceID to unlock the new iPhoneX.
As for availability, sources say Apple is no where close to meeting the demand for the phone and will only have half as many as previously stated by the end of the year. Such is the buzz for "must have, latest and greatest" technology gadgets.
Those of use who watch the financial side of Apple (AAPL) continue to be amazed at a company that continues to impress when it comes to pricing power and an ability to design and build products consumers want to buy. Apple is a money making machine and their stock price and market value illustrate that fact.
Apple’s current market cap is closing in on $900B on Friday and the stock traded up.
On Thursday, the long awaited Republican tax reform plan finally saw the light of day after most political and financial watchers haggled over the unknown details most of this year. President Trump has made tax reform and cuts as his centerpiece agenda as essential to growing the economy and stimulating job and wage growth for working Americans.
For years our government through higher than worldwide competitive taxes has driven business offshore and the use of a punitive tax code has hindered economic growth. As I said before, after seeing the anti-business climate over the past decade, there is no way I would have wanted to start a business; it is risky enough without having bureaucrats fighting against you. Besides the oppressive regulations most manufacturing businesses (mine was one), the complicated gamesmanship required to work within the law and file taxes hurt small businesses who were not savvy in their financial planning. Hard worker and risk takers saw their businesses struggle year after year not because they couldn’t do their primary job, but because they struggled to navigate an oppressive local/city, state and federal bureaucracy including taxes and paperwork that was stacked against them. [end rant … sorry about that]
The biggest instant economic boost is going to come from the proposal the lower business taxes from nearly the highest in the world (35%) to a competitive 20% rate. Small business, which often gets income passed through to individuals, also gets a break pegging their tax rate at 25% along with increase ability to deduction more of their capital expenses in the year they are taken (rather than depreciation over a long period of time). All of this should help owners and managers expand their operations and create new jobs … and hopefully stimulate wage growth.
One of the much ballyhooed items has to do with US corporations who hold income in cash in their overseas divisions and wouldn’t mind bringing the money back to the US … but high US corporate tax rates have made this too costly. So there is a provision for them to bring their cash back to reinvest and be taxed at a 5% rate. These corporate changes should stimulate the economy and add jobs triggering a boost in wages for working Americans (at least that is the plan). Those in congress proposing this along with the Whitehouse are counting on a reduction in rates to be made up by the growth in US businesses, rising wages and increased employment through new jobs. We are likely to see continued higher corporate profits which are already being helped by both coming out of a recession and optimism that the Republicans will likely be far more welcoming for business – fewer regulations, lower taxes and USA first policies.
On the individual tax side, there will still be a lot of number crunching if you are in the higher income brackets or live in the very highly taxed states. Almost ALL paying taxes in the lower to middle income ranges will definitely see tax savings and simplicity in filing with a doubling of the standard deduction and bigger Family Credit (expanding of the Child Tax credit). The new simplified proposal eliminates many of the long used deductions that lower taxable incomes … none more contentious than SALT (deduction for State And Local Taxes). The new proposal tried to balance offering up to a $10,000 deduction for real estate taxes, but eliminated the state tax deduction which favored high income citizens in state where taxes are high – CA, NY, NJ, etc. They just so happen to be Democratically controlled state = duh, supporters of higher taxes. Their only comeback is that their state receive less Federal compared to what their high earners pay to the Federal government. Personally I wouldn’t mind seeing those high taxed states feeling pressured to lower the tax burden on their citizens and/or Washington DC reducing what they "take" and "distribute" to states in order to keep them hostage to the federal governments’ demands.
I sure have enjoyed watching the entire Major League Baseball playoffs in October and World Series ending on November 1st this year, particularly since I’ve turn off the NFL Game 7 on Wednesday night in LA started poorly for the Dodgers as they were quickly down by 5 runs and faced some of the strongest pitching Houston had to offer.
The final score was HOU 5 – LAD 1 in which might have been the least exciting game of the 7. Thanks to both teams for some great baseball.
Another great World Series game that tied things up 3 games to 3 games. The Dodgers won tonight’s game at home in LA by out hitting the Astros with the final score 3 – 1. It has been excellent Fall Classic baseball. Can’t wait for tomorrow night!
Although I don’t think the Marlin company makes my .357 magnum Model 1894 lever action rifle anymore, I was finally able to scrounge the parts to repair it. I’ve had this beautiful short barreled saddle rifle since high school as it matched the caliber of my short barreled revolver. I have enjoyed it through most of the 1970-90s until some internal damage years ago (my son Taylor knows why – cough, cough). I’ve search for parts and inquired with a gunsmith to no avail … but recently found a few parts. I picked up the final screw last week from Brownells last weekend and voila, it is working again (still want to have a gunsmith or firearms expert look at it to be sure all works the way it should). It feels good to have one of my favorite “Politically Correct” rifles back in working order – “PC” for those unfamiliar with firearms basically means it is not a “black” or has that negative perception of something that looks military or like assault rifle.
One plant I can cultivate well is theLonicera maackii … the invasive honeysuckle. They take no care and can withstand heavy pruning and replants themselves EVERYWHERE.
This year they are even more heavily berried than usual. Unfortunately they are both messy (very soft) and mildly poisonous! Still, they provide a decent hedgerow along our property line, which I don’t really mind.
A rocking bunch of positive earning from tech companies push companies like Google, Amazon, Apple, Facebook, Netflix, Microsoft, Intel and even Twitter higher. Although some financial analysts are recycling the “irrational exuberance” term, the excellent quarterly financial numbers are actually a reason for a positive attitude. I’m still nervous as to all the unknown surprises lurking, but do see reasons to believe the economy can continue to improve.
My nervousness has to do with the unpredictability of some leaders (President Trump included) and the 3 carrier groups we now looming over North Korea … and knowing we are in one of the longest running market climbs in history — recessions happen on average every 7 years — knowing that, we are overdue for a market correction.
Nasdaq Chart Friday 10/27/2017
Still, a tax cut and “maybe” even tax reform seems likely if Republican don’t “snatch defeat from the jaws of victory” as seems par for the course. For now, a lot of us are keeping one foot in and one foot out of the market.
“A strong dose of computer and internet earnings woke tech stocks from a moribund week, sending the Nasdaq 100 Index to its best performance in eight years relative to the broader market and putting fears of a FANG rout to bed, at least for a day.
Google parent Alphabet Inc. jumped 6.1 percent as of 12:20 p.m. in New York, and Amazon.com Inc. surged 13 percent as bottom-line profits wiped out analyst forecasts. Microsoft Corp. joined the rally, climbing 7.3 percent as its sales and income breezed past the Wall Street consensus.”
have prices risen for cellphones in recent years (of course so has their function) … and they are back to the price of my first mobile phone. 
The most noticeable feature is the display without the "home/fingerprint reader" button freeing up space for display use. About the only odd look is the "notch" for the speaker and FaceTime camera that intrudes into the OLED display. Although security can still be handled by "pin" code, the newest and most controversial new feature is FaceID to unlock the new iPhoneX.
A rocking bunch of positive earning from tech companies push companies like Google, Amazon, Apple, Facebook, Netflix, Microsoft, Intel and even Twitter higher. Although some financial analysts are recycling the “
