AAPL: Citi Cuts Estimates, Target to $480 on Slowing iPhone, iPad Demand

By Tiernan Ray

Citigroup?s Glen Yeung is among three analysts who today cut their estimates and price targets for Apple (AAPL), warning of product gaps and the diminishing returns from the smartphone and tablet market.

Apple shares today are down $5.34, or 1.3%, at $425.80.

Yeung, who has a Neutral rating on shares of Apple, cut his price target to $480 from $500, after cutting the current quarter?s estimate to $40.45 billion, gross margin of 37.9%, and EPS of $9.23 from a prior $42 billion, 38%, and $9.73. He also cut full-year 2013 and fiscal 2014 and 2015 estimates.

Yeung cut his March-quarter iPhone estimates to 34 million from 35 million, below what he thinks is consensus of 37 million. He maintains his June-quarter estimate for 25 million iPhone units, below the consensus 32 million, arguing Apple is losing share as indicated by lower ramps in component production:

In conducting our regular field work with the hardware supply chain, we again find evidence of reduced demand to Apple?s suppliers for iPhone5 related components. While production does not directly translate to sales (for example, we estimate Apple finished 1Q13(Dec) with ~10M iPhone units in inventory), we suspect this is an indication of softer demand for iPhone5 and iPhone4S. To be sure, we expect iPhone5S to be introduced in 4Q13(Sep) (slightly later than our initial expectations of ~June), suggesting iPhone5 production slowdowns now could be clearing inventories ahead of the iPhone5S launch. But with small volumes of iPhone5S expected to be built in 3Q13(Jun) (we estimate 3-4M units), we suspect this effect is minimal (we expect iPhone inventories to be reduced to 5M units from 10M).

Yeung notes he finds ?little evidence? for a cheaper iPhone and sees only the introduction of an ?iPhone 5S? in September, and perhaps a larger unit at the beginning of next year.

He is also concerned about the iPad, and cuts his iPad mini estimate for this quarter to 12 million from 13 million, and cuts the regular iPad to 6 million from 7 million, while conceding that some ramp-down in production may be because of new model introductions:

Our fieldwork also suggests some reduction in demand for 10? iPad related components [?] To be sure, iPad Mini is undoubtedly cannibalizing 10? iPad sales (for example, we estimate 7? tablets will exceed 10? tablets in production in C1Q13), but our checks now suggest iPad Mini production is expected to flatten in 3Q13(Jun). We recognize that product transitions in 7? models (potentially 2 models in 4Q13(Sep): Retina Mini 2 and non-Retina Mini 2), may be contributing to reduced production in 3Q13(Jun). Nonetheless, we see risk to consensus estimates.

Previously: AAPL: Berenberg Cuts to Sell Along with Samsung on Cheap Phone Shift, March 6th, 2013.

Source: http://feedproxy.google.com/~r/barrons/techtraderdaily/feed/~3/s1KEnHf07Vw/

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Weslaco, TX 2013 Ford F-150 New Truck Brownsville, TX McAllen, TX Payne Weslaco Ford for $51,615

*The advertised price does not include sales tax, vehicle registration fees, finance charges, documentation charges, and any other fees required by law. We attempt to update this inventory on a regular basis. However, there can be lag time between the sale of a vehicle and the update of the inventory.

EPA mileage estimates are for newly manufactured vehicles only. Your actual mileage will vary depending on how you drive and maintain your vehicle.

Before purchasing this vehicle, it is your responsibility to address any and all differences between information on this website and the actual vehicle specifications and/or any warranties offered prior to the sale of this vehicle. Vehicle data on this website is compiled from publicly available sources believed by the publisher to be reliable. Vehicle data is subject to change without notice. The publisher assumes no responsibility for errors and/or omissions in this data the compilation of this data and makes no representations express or implied to any actual or prospective purchaser of the vehicle as to the condition of the vehicle, vehicle specifications, ownership, vehicle history, equipment/accessories, price or warranties. 2013 Ford Mission, TX 2013 Ford Weslaco, TX 2013 Ford McAllen, TX

Source: http://payneautogroup.com/2013-Ford-F-150-Weslaco-TX/vd/13816329

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Russian police arrest 3 suspects in Bolshoi attack

FILE - In this Sunday, Nov. 4, 2012 file photo, Russian dancer Pavel Dmitrichenko, as Ivan the Terrible, is pictured after a dress rehearsal of Ivan the Terrible (Russian Tsar Ivan the Terrible) in the Bolshoi Theater in Moscow, Russia. The Russian Interior Ministry says police are searching the home of a star of the Bolshoi Ballet, Pavel Dmitrichenko, known for his role as tsar Ivan the Terrible, the Interior Ministry said Tuesday March 5, 2013, in connection with the acid attack on the company's artistic director, and have detained another man on suspicion of carrying out the attack. (AP Photo/Alexander Zemlianichenko, file)

FILE - In this Sunday, Nov. 4, 2012 file photo, Russian dancer Pavel Dmitrichenko, as Ivan the Terrible, is pictured after a dress rehearsal of Ivan the Terrible (Russian Tsar Ivan the Terrible) in the Bolshoi Theater in Moscow, Russia. The Russian Interior Ministry says police are searching the home of a star of the Bolshoi Ballet, Pavel Dmitrichenko, known for his role as tsar Ivan the Terrible, the Interior Ministry said Tuesday March 5, 2013, in connection with the acid attack on the company's artistic director, and have detained another man on suspicion of carrying out the attack. (AP Photo/Alexander Zemlianichenko, file)

FILE - In this Monday, Feb. 4, 2013 file photo artistic director of the Bolshoi ballet Sergei Filin, speaks with the media as he leaves a hospital in Moscow, Russia. A spokeswoman for the Bolshoi Theater says Tuesday, March 5, 2013, police has detained a suspect in the January acid attack on its artistic director. (AP Photo/Misha Japaridze, File)

FILE - In this Wednesday, Nov. 16, 2011, file photo the Bolshoi Theater artistic director Sergei Filin speaks prior a dress rehearsal of the ballet The Sleeping Beauty in the Bolshoi Theater in a head of the primer in Moscow, Russia. A spokeswoman for the Bolshoi Theater says Tuesday, March 5, 2013, police has detained a suspect in the January acid attack on its artistic director. (AP Photo/Alexander Zemlianichenko, File)

FILE - In this Sunday, Nov. 4, 2012 file photo, Russian dancer Pavel Dmitrichenko, as Ivan the Terrible, right, and ballerina Anna Nikulina as Anastasia, wife of Ivan the Terrible perform at a dress rehearsal of Ivan the Terrible (Russian Tsar Ivan the Terrible) in the Bolshoi Theater in Moscow, Russia. The Russian Interior Ministry says police are searching the home of a star of the Bolshoi Ballet, Pavel Dmitrichenko, known for his role as tsar Ivan the Terrible, the Interior Ministry said Tuesday March 5, 2013, in connection with the acid attack on the company's artistic director, and have detained another man on suspicion of carrying out the attack. (AP Photo/Alexander Zemlianichenko, File)

MOSCOW (AP) ? Russian police said Tuesday they arrested three men in the acid attack that nearly blinded the artistic director of the Bolshoi ballet, including a star dancer suspected of masterminding the plot.

Sergei Filin was left with severe burns to his eyes and face when a masked attacker threw a jar of sulfuric acid in his face as he returned home late on Jan. 17. The 42-year-old former dancer is now undergoing treatment in Germany.

Interior Ministry spokesman Anatoly Lastovetsky said Bolshoi soloist Pavel Dmitrichenko is suspected of planning the attack.

Police also arrested the suspected perpetrator of the attack and the man believed to have driven him to and from the scene, the spokesman said.

It was unclear whether either man had any connection to the famed ballet company.

Dmitrichenko, who joined the Bolshoi in 2002, has danced several major parts in recent years, including Ivan the Terrible in the ballet of the same name.

Bolshoi Theater spokeswoman Katerina Novikova said management was not aware of a conflict between him and Filin. Channel One state television reported that Dmitrichenko's girlfriend, however, also a Bolshoi soloist, was known to have been at odds with Filin.

The Bolshoi Theater is one of Russia's premier cultural institutions, best known for "Swan Lake" and the other grand classical ballets that grace its stage. But backstage, the ballet company has been troubled by deep intrigue and infighting that have led to the departure of several artistic directors over the past few years.

Filin's colleagues have said the attack could be in retaliation for his selection of certain dancers over others for prized roles. Filin told state television before he checked out of a Moscow hospital that he knew who ordered the attack but would not name the person.

The Interior Ministry said the alleged perpetrator, 35-year-old Yury Zarutsky, was arrested in the Tver region north of Moscow. Earlier in the day, police had detained and questioned the suspected accomplice, whom the spokesman identified as Andrei Lipatov. No other details were provided.

Russian news agencies reported that Lipatov had been detained in the town of Stupino, a sprawling Moscow suburb that has summer houses owned by the Bolshoi Theater and used by its dancers and management. Dmitrichenko said in a recent interview that he was managing the dachas in his spare time.

In a February interview with Snob magazine, the Bolshoi's general director, Anatoly Iksanov, said the attack on Filin was inspired by longtime principal dancer Nikolai Tsiskaridze.

"I don't blame that particular crime on him, but I'm accusing Nikolai of escalating the situation at the theater, of putting psychological pressure on the theater's staff and management, on Filin, on myself and teachers," he said.

Tsiskaridze, a long-time critic of the theater's management, has denied the allegation and accused Iksanov and his allies of fueling the dispute.

Dmitrichenko's girlfriend, Anzhelina Vorontsova, was coached by Tsiskaridze.

Many ballet stars, including Anastasia Volochkova, have sided with Tsiskaridze. Alexei Ratmansky, the Bolshoi ballet's artistic director from 2004 until 2008, has likened the atmosphere at the theater to "a disgusting cesspool" and said that the attack stems from "the lack of any ethics at the theater."

Ratmansky is now an artist-in-residence at the American Ballet Theater in New York.

____

Nataliya Vasilyeva, Varya Kudryavtseva, Yelena Yegorova and Laura Mills contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2013-03-05-Russia-Bolshoi%20Attack/id-9124c725a718478791c56a0b568867a7

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Report: TV star Valerie Harper has brain cancer

NEW YORK (AP) -- Valerie Harper, who played Rhoda Morgenstern on television's "The Mary Tyler Moore Show" and its spinoff, "Rhoda," has been diagnosed with terminal brain cancer.

People magazine reports on its website Wednesday that the 73-year-old actress received the news on Jan. 15. The report says she has as little as three months to live.

Harper tells the magazine: "I don't think of dying. I think of being here now."

Harper's character, Rhoda, was one of television's most beloved sidekicks during the 1970s.

The Associated Press was trying to reach a representative for Harper.

---

Online:

http://www.people.com/people/article/0,,20679402,00.html

Source: http://hosted.ap.org/dynamic/stories/U/US_PEOPLE_VALERIE_HARPER_?SITE=KGO&SECTION=HOME&TEMPLATE=DEFAULT

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Samsung Galaxy Note 10.1 available on Verizon March 7th for $600

We've known that the Galaxy Note 10.1 was destined for Verizon Wireless as early as CES two months ago, but now Big Red has finally supplied us with details on when and how much. The carrier will begin offering the Note 10.1 this Thursday, and all it will cost you is a mere $600 for the privilege of calling it your very own. To recap, Verizon's version will offer Android 4.1 with cascading Multi-Window support, a 1.4GHz quad-core Exynos processor, 2GB RAM, 7,000mAh battery and -- naturally -- the carrier's huge logos taking up the most space on the back.

Filed under: Tablets, Wireless, Samsung, Verizon

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/XjEO4J-SxyI/

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Mildly criminal and poor seen as 'beyond redemption' | UoP News

Dr Claire Nee

Young men from poor backgrounds who have committed petty crimes are the least likely to be trusted or expected to succeed, according to new research.

The finding was a surprising result in new scientific research which set out to establish if those with a mental illness were likely to encounter problems being forgiven and trusted if they had committed petty crimes.

Researchers at the University of Portsmouth found instead that people with a mental illness and a criminal past were more likely to be given the benefit of the doubt, but that young men from disadvantaged backgrounds but no mental illness were considered beyond redemption.

The research is published in Psychiatry Research.

Lead researcher Dr Claire Nee, a forensic psychologist in the Department of Psychology, said: ?We didn?t expect this result. We assumed those with mental illness would be stigmatised more.

?The results suggest those with a criminal past and a disadvantaged background are among the most rejected in our society and will face significant obstacles in trying to lead a crime-free life.

?They are, as many others see it, beyond redemption and have everything stacked against them.?

Dr Nee and colleagues wanted to know the extent to which the general public discriminated against people with schizophrenia, depression and anxiety and alcoholism and particularly whether they were seen as dangerous in our society.

She said: ?Research tells us that people with mental illness are discriminated against on many levels, but little has been done on how different mental illnesses might elicit different reactions.?

The researchers composed six different backgrounds of a man in his 20s called Sam. They asked?243 members of the general public, aged 18 to 76, in an anonymous online survey to?rate his trustworthiness, how sympathetic they felt towards him, how likely he was to commit crime in future, how serious such crimes might be and whether he could be rehabilitated.

Five of the ?Sams? had committed petty, nuisance crime in the past. Three of those also had a mental illness ? one had schizophrenia, one suffered from depression and anxiety, and one was an alcoholic ? and came from a ?normal? background. The fourth ?Sam? had committed the same petty crimes in the past, had no mental illness and came from a ?normal? background. A fifth ?Sam? had no mental illness and came from a disadvantaged background. The sixth ?Sam? was the control and had no mental illness, no criminal past and a ?normal? background.

In response to the question, how likely is this young man to commit crimes in future, 80 per cent said the disadvantaged Sam with no mental illness probably or definitely would. The other Sam?s results were: ?79 per cent for alcoholic Sam; 73 per cent for depressed and anxious Sam; 62 per cent for schizophrenic Sam; 53 per cent for Sam with no illness, a ?normal? background and history of committing petty crimes. The Sam considered least likely to go on to commit further crimes was the control Sam, who had no illness, no previous criminal activity and came from a ?normal? background.

The most sympathetic towards any of the Sam?s were those aged 46 and older. The least sympathetic were those aged 18-25, closely followed by those aged 36-45. Participants who themselves had either offended or had mental health problems were also more likely to be sympathetic.

Dr Nee said: ?What we found was, while people did think the Sam?s with mental illness were more likely to commit crime, this was thought to be petty nuisance crime. Unexpectedly, it was the Sam with no mental illness, but who came from a disadvantaged background who elicited a really negative response.

?He was the only one expected to commit serious crime in the future, was considered beyond rehabilitation, and was seen as significantly less trustworthy than any other version of Sam.

?People were more sympathetic and less discriminatory towards those with mental illness than previous research has predicted which is good news, but the results highlight just how huge the challenges disadvantaged people with previous convictions face in terms of reintegrating into society.?

Dr Nee thinks the reason for the people?s reactions might be because they are more likely to think those with a mental illness can recover, deserve treatment and that the illness is not their fault. With offenders from disadvantaged backgrounds there is no similar understanding and they were seen as having no excuse for their behaviour.

She said: ?For offenders from poor backgrounds, there is no allowance made for a recovery period, if you slip up, you?re punished again, and you will always be an ex-con. Your behaviour is seen as totally your fault, no matter what has gone on in your background.?

The researchers suggest further studies need to be done to test attitudes of a wider cross section of participants, but if the results hold, the findings have the potential to be useful to those working with disadvantaged communities.

Source: http://www.port.ac.uk/uopnews/2013/03/06/if-youre-mildly-criminal-and-poor-youre-seen-as-beyond-redemption/

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DEBT LIMIT ? A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY

H/T Jan Garland

In human terms so people can understand what?s going on?

The United States debt limit explained. A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Sprint Ads, Ferris Bueller Superbowl Spot and plays Arwin! (also in the upcoming film PAIN AND GAIN)

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Source: http://rightlinksblog.com/2013/03/05/debt-limit-a-guide-to-american-federal-debt-made-easy-2/

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