View more on these topics

SLOC makes three officer appointments

Sun Life of Canada is making three officer appointments which will be effective from the new year.


Tricia Jones has been recruited from Swiss Life to be group insurance administration director.


John Chatterton will be senior financial actuary after eight years at Axa Equity & Law.


Ken May formerly of the Legal & General Group has been appointed internal audit officer.

Recommended

FSA announce changes to phase 2 of pensions review

The Financial Services Authority and the Personal Investment Authority are announcing further key policy decisions for phase 2 of the pensions transfers and opt-outs review regarding the treatment for rebate-only cases.The Policy decisions are:Investors with rebate-only policies who fall within the phase 2 rebate-only population and were aged 30 or more at the time of […]

CIFA appoints two new directors to raise profile

The Corporation of Insurance and Financial Advisers has appointed two new directors with the job of raising the trade association&#39s profile in the financial services industry.The Mortgage Operation marketing director Frank Butler and Bankhall Investment Associates group sales manager Arnold Laing will each bring more than 25 years of industry experience to CIFA.Butler says: &#34I […]

BSA remains upbeat despite disappointing November

The Building Societies Association says the mortgage and savings markets are both in good shape despite the disappointing figures recorded in November.It says building society gross mortgage advances dropped to £1,622m in November from £1,877 in October.It says in the savings market building societies attracted £515m in November compared to £1,123m in October.BSA director-general Adrian […]

Lenders reduce mortgage rates in wake of BoE cuts

Barclays and Northern Rock are cutting their standard variable mortgage rates to 7.7 per cent from 8.2 per cent in the wake of the Bank of England&#39s interest rate cut.Mercantile Building Society is also cutting its standard variable mortgage rate by 0.5 per cent to 7.45 per cent.

Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment