December 2011
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Day December 1, 2011

The thermodynamics of Apple's share price

Andy Zaky at Bullish Cross wrote a great post on Apple’s valuation, showing the deep discount of Apple’s earnings vs. an average company. It essentially states that Apple’s money is not green.

Felix Salmon took it forward by enumerating a few explanations that might be used for the despondent valuation. None are successful arguments, but that should not be a surprise.

To understand the phenomenon a bit more precisely, I maintain and think about these charts:

This shows Apple’s share price (“P” in blue) and its earnings per share (“E” in green). In addition

Sponsor: The Glif and Glif+

I still have a professional camera, the legendary Canon 1D with a few L series lenses. I’ve also carried phones with cameras since about 2002. But they were never good enough. When it came to photos I am one of those “highly demanding” consumers at the top of the market who looks down on disruptive low-end products. An SLR with a two pound lens was the only way I could be satisfied.

However, like the theory suggests, even the most demanding customers succumb to the new disruptive technology. For me it happened with the iPhone 4. I’ve been very happy with almost all photos taken with it. I really appreciated the HDR function and the HD video which my old camera could not do.

There is however something that is missing. The ability to take crisp pictures in low light or to shoot video without camera motion requires a tripod. I’ve envied some of the rigs that allow tripod mounting of iPhones but they’ve all looked bulky and expensive, defeating the “always with you” value proposition of the phone camera. If I would take a rig with me, I might as well pack the D1.

That is until I came across the Glif. The Glif is an extremely small and simple accessory for mounting your iPhone 4 or 4S to any standard tripod. It doubles as a little kickstand to prop your iPhone up for watching movies, using FaceTime, etc. The packaging even doubles as its own little bipod.

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Available now at StudioNeat for a very reasonable price.