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K**********r
发帖数: 2640 | 1 看来smart cover要了zagg的命。。。 | y*****l
发帖数: 5997 | 2 苹果做得够绝的，大胖烧了吗？
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
| j****e
发帖数: 624 | | f**********g
发帖数: 2252 | 4 有霸王之气，好。换我也这么做，呵呵。
【在 j****e 的大作中提到】
: 苹果要通吃
| K***l
发帖数: 724 | 5 不知他家Ipad Cover的业务量占到总营收多少？ | K**********r
发帖数: 2640 | 6 应该是相当的比例。虽然他的产品种类看起来挺多，但我觉得除了invisibleShield以
外，很多东西华而不实，而且有相当多的竞争对手。就今年MacWorld Expo的情况看，
有相当多做壳、套、膜、托的小公司参展，zagg也去了，主要是推介他的zaggmate。
就ZaggMate而言，设计真是粗糙，就算白给，我都不愿意用。给ipad带上这么个壳，就
感觉象是把ipad自身的外观光环给完全遮蔽起来一样。不带键盘的那个就接近70美金一
个，带键盘的要90美金不说，感觉还特别糟。先前要是没看到联想的Le Pad的设计，也
许感觉还会好一点。
【在 K***l 的大作中提到】
: 不知他家Ipad Cover的业务量占到总营收多少？
| f**********g
发帖数: 2252 | 7 rebounce in premarket
http://seekingalpha.com/article/256134-zagg-the-ipad-s-first-ca
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
| f**********g
发帖数: 2252 | 8 Can ZAGG Survive Apple's Latest Move?
16 comments | by: Ian Bezek March 02, 2011
Share0 ZAGG Incorporated (ZAGG) saw its shares fall 24% Wednesday in heavy
trading after Apple (AAPL) unveiled its new iPad 2 that includes a line of
magnetic covers to shield the new tablet. Apple's new accessory directly
attacks one of ZAGG's product lines, as Zagg's ZAGGmate is a combination
iPad shield and keyboard. The ZAGGmate was recently promoted by none other
than MC Hammer on Oprah's show and the ZAGGmate appeared to be gaining
market momentum. Apple's announcement will likely reverse the ZAGGmate's
market share increases in one fell swoop.
Luckily for ZAGG, the ZAGGmate is not the company's main product. Instead,
the company's invisibleSHIELD is its main bread winner. The invisibleSHIELD
is a screen protector for a variety of devices including the iPad and iPhone
. Since the invisibleSHIELD covers a variety of products other than the iPad
and it comes at a much lower price point, its sales should not be greatly
damaged by Apple's announcement.
At first blush, it would seem like the market overreacted to ZAGG's bad news
. While the stock deserved to go down, was the 24% haircut a bit much? Upon
further reflection, however, it appears that the market was justified. There
are a lot of curious occurances and troubling signs at ZAGG.
The first problem is the gigantic short interest that is equal to roughly 25
% of ZAGG's float. While short sellers are often wrong, when they appear in
large numbers, there are often problems. On top of that, insiders such as
CFO Brandon T. O'Brien and board member Edward Ekstrom have been making
large insider sales in recent months. When both insiders and shorts are
selling, trouble is often just around the corner. In addition, ZAGG also
just switched auditors, which raises eyebrows.
ZAGG also has no moat around its business. There is absolutely nothing to
stop Apple or another competitor from stepping up efforts to steal the rest
of ZAGG's business by introducing more invisibleSHIELD competitors as well.
Short sellers have also made numerous interesting arguments highlighting
potential deeper flaws in ZAGG's business.
For one, it appears that ZAGG's excess inventory is being liquidated at
prices far below normal. If this charge is true, it would bring into
question how much existing inventory on the balance sheet is worth and
creates issues if product currently at Best Buy (BBY) and other retailers
doesn't sell. Also, it appears that ZAGG's management may have exaggerated
just how many ZAGGmates Best Buy purchased. Although to be fair, one could
argue that this just shows how unimportant to ZAGG the ZAGGmate is in
comparison with its flagship product, the invisibleSHIELD.
To top it off, it appears that even after today's decline ZAGG shares are
still overvalued. The Price/Sales ratio of 3 is a bit pricey, and the Price/
Book ratio of 7 is downright rich. The trailing P/E of 24 is not attractive,
and earnings growth will be greatly diminished due to the new competition
from Apple that will cut into the ZAGGmate's profits.
Furthermore, the company has only $6 million of cash (25 cents a share) on
hand and is generating very little free cash flow. There's no moat, and
little in the way of patents or unique innovation to protect ZAGG's business
. And there is almost nothing in the way of assets or cash to provide any
fallback for ZAGG should the business hit a rough spot. For ZAGG to succeed,
the company has to deftly manage to survive the rapid twists and turns of a
fickle consumer market while outcompetiting Apple with little margin for
error. I don't like those odds.
ZAGG supporter Ian Cassel wrote an article headlined, "What's Good for Apple
is Good for ZAGG." With Apple's unveiling of the iPad 2, it is clear that
this is no longer true. ZAGG and Apple are no longer allies, and it's likely
that ZAGG shareholders will be the ones who get the short end of the deal.
Disclosure: I have no positions in any stocks mentioned, and no plans to
initiate any positions within the next 72 hours.
【在 K**********r 的大作中提到】
: 应该是相当的比例。虽然他的产品种类看起来挺多，但我觉得除了invisibleShield以
: 外，很多东西华而不实，而且有相当多的竞争对手。就今年MacWorld Expo的情况看，
: 有相当多做壳、套、膜、托的小公司参展，zagg也去了，主要是推介他的zaggmate。
: 就ZaggMate而言，设计真是粗糙，就算白给，我都不愿意用。给ipad带上这么个壳，就
: 感觉象是把ipad自身的外观光环给完全遮蔽起来一样。不带键盘的那个就接近70美金一
: 个，带键盘的要90美金不说，感觉还特别糟。先前要是没看到联想的Le Pad的设计，也
: 许感觉还会好一点。
| b**t
发帖数: 656 | 9 好几行伤心泪阿
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
| K**********r
发帖数: 2640 | 10 看来smart cover要了zagg的命。。。 | | | y*****l
发帖数: 5997 | 11 苹果做得够绝的，大胖烧了吗？
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
| j****e
发帖数: 624 | | f**********g
发帖数: 2252 | 13 有霸王之气，好。换我也这么做，呵呵。
【在 j****e 的大作中提到】
: 苹果要通吃
| K***l
发帖数: 724 | 14 不知他家Ipad Cover的业务量占到总营收多少？ | K**********r
发帖数: 2640 | 15 应该是相当的比例。虽然他的产品种类看起来挺多，但我觉得除了invisibleShield以
外，很多东西华而不实，而且有相当多的竞争对手。就今年MacWorld Expo的情况看，
有相当多做壳、套、膜、托的小公司参展，zagg也去了，主要是推介他的zaggmate。
就ZaggMate而言，设计真是粗糙，就算白给，我都不愿意用。给ipad带上这么个壳，就
感觉象是把ipad自身的外观光环给完全遮蔽起来一样。不带键盘的那个就接近70美金一
个，带键盘的要90美金不说，感觉还特别糟。先前要是没看到联想的Le Pad的设计，也
许感觉还会好一点。
【在 K***l 的大作中提到】
: 不知他家Ipad Cover的业务量占到总营收多少？
| f**********g
发帖数: 2252 | 16 rebounce in premarket
http://seekingalpha.com/article/256134-zagg-the-ipad-s-first-ca
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
| f**********g
发帖数: 2252 | 17 Can ZAGG Survive Apple's Latest Move?
16 comments | by: Ian Bezek March 02, 2011
Share0 ZAGG Incorporated (ZAGG) saw its shares fall 24% Wednesday in heavy
trading after Apple (AAPL) unveiled its new iPad 2 that includes a line of
magnetic covers to shield the new tablet. Apple's new accessory directly
attacks one of ZAGG's product lines, as Zagg's ZAGGmate is a combination
iPad shield and keyboard. The ZAGGmate was recently promoted by none other
than MC Hammer on Oprah's show and the ZAGGmate appeared to be gaining
market momentum. Apple's announcement will likely reverse the ZAGGmate's
market share increases in one fell swoop.
Luckily for ZAGG, the ZAGGmate is not the company's main product. Instead,
the company's invisibleSHIELD is its main bread winner. The invisibleSHIELD
is a screen protector for a variety of devices including the iPad and iPhone
. Since the invisibleSHIELD covers a variety of products other than the iPad
and it comes at a much lower price point, its sales should not be greatly
damaged by Apple's announcement.
At first blush, it would seem like the market overreacted to ZAGG's bad news
. While the stock deserved to go down, was the 24% haircut a bit much? Upon
further reflection, however, it appears that the market was justified. There
are a lot of curious occurances and troubling signs at ZAGG.
The first problem is the gigantic short interest that is equal to roughly 25
% of ZAGG's float. While short sellers are often wrong, when they appear in
large numbers, there are often problems. On top of that, insiders such as
CFO Brandon T. O'Brien and board member Edward Ekstrom have been making
large insider sales in recent months. When both insiders and shorts are
selling, trouble is often just around the corner. In addition, ZAGG also
just switched auditors, which raises eyebrows.
ZAGG also has no moat around its business. There is absolutely nothing to
stop Apple or another competitor from stepping up efforts to steal the rest
of ZAGG's business by introducing more invisibleSHIELD competitors as well.
Short sellers have also made numerous interesting arguments highlighting
potential deeper flaws in ZAGG's business.
For one, it appears that ZAGG's excess inventory is being liquidated at
prices far below normal. If this charge is true, it would bring into
question how much existing inventory on the balance sheet is worth and
creates issues if product currently at Best Buy (BBY) and other retailers
doesn't sell. Also, it appears that ZAGG's management may have exaggerated
just how many ZAGGmates Best Buy purchased. Although to be fair, one could
argue that this just shows how unimportant to ZAGG the ZAGGmate is in
comparison with its flagship product, the invisibleSHIELD.
To top it off, it appears that even after today's decline ZAGG shares are
still overvalued. The Price/Sales ratio of 3 is a bit pricey, and the Price/
Book ratio of 7 is downright rich. The trailing P/E of 24 is not attractive,
and earnings growth will be greatly diminished due to the new competition
from Apple that will cut into the ZAGGmate's profits.
Furthermore, the company has only $6 million of cash (25 cents a share) on
hand and is generating very little free cash flow. There's no moat, and
little in the way of patents or unique innovation to protect ZAGG's business
. And there is almost nothing in the way of assets or cash to provide any
fallback for ZAGG should the business hit a rough spot. For ZAGG to succeed,
the company has to deftly manage to survive the rapid twists and turns of a
fickle consumer market while outcompetiting Apple with little margin for
error. I don't like those odds.
ZAGG supporter Ian Cassel wrote an article headlined, "What's Good for Apple
is Good for ZAGG." With Apple's unveiling of the iPad 2, it is clear that
this is no longer true. ZAGG and Apple are no longer allies, and it's likely
that ZAGG shareholders will be the ones who get the short end of the deal.
Disclosure: I have no positions in any stocks mentioned, and no plans to
initiate any positions within the next 72 hours.
【在 K**********r 的大作中提到】
: 应该是相当的比例。虽然他的产品种类看起来挺多，但我觉得除了invisibleShield以
: 外，很多东西华而不实，而且有相当多的竞争对手。就今年MacWorld Expo的情况看，
: 有相当多做壳、套、膜、托的小公司参展，zagg也去了，主要是推介他的zaggmate。
: 就ZaggMate而言，设计真是粗糙，就算白给，我都不愿意用。给ipad带上这么个壳，就
: 感觉象是把ipad自身的外观光环给完全遮蔽起来一样。不带键盘的那个就接近70美金一
: 个，带键盘的要90美金不说，感觉还特别糟。先前要是没看到联想的Le Pad的设计，也
: 许感觉还会好一点。
| b**t
发帖数: 656 | 18 好几行伤心泪阿
【在 K**********r 的大作中提到】
: 看来smart cover要了zagg的命。。。
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