Complete 4Q15 AAPL Earnings Estimate, Expanded Thursday Q&A

Today's Above Avalon stories: 

  • Complete 4Q15 AAPL Earnings Estimate
  • Thursday Q&A:
  1. What happens to all of these used iPhones from leasing programs? How much can the used market realistically absorb?
  2. Where do you think Apple will get batteries for Project Titan? Does Apple need to reach a big battery breakthrough to go forward with Project Titan?  
  3. When and how would Carl Icahn liquidate his AAPL position?
  4. How do I write these daily emails?  

    We kick off today's email by going over my full AAPL 4Q15 estimate including unit sales, ASP, and margin expectations. I received quite a few questions this week for Thursday Q&A. We first address a few questions related specifically to how reused iPhone supply will impact the resale market. In addition, we discuss a question about electric car batteries (Where can Apple turn for batteries?), Carl Icahn (What conditions may he consider to sell his AAPL position?), and a little bit of background on how I put together this email during the week. 

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