Andy Hargreaves - Pacific Crest Securities


Last quote by Andy Hargreaves

The potential for Apple to exercise greater pricing power, along with further App Store growth, supports the view of the Company as a franchise with subscription-like qualities rather than a regular hardware
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Oct 16 2017 IPhone
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Andy Hargreaves is associated, including Netflix, Facebook, and growth. Most recently, Andy Hargreaves has been quoted saying: “Apple's introduction of iPhone X at a $999 entry price, its increase to iPhone 8/8+ prices, and its change to storage step-up pricing collectively represent a more aggressive strategy to segment its customer base and extract incremental gross profit from its users than we previously expected. Apple's most inelastic customers are likely to be the ones who look to purchase the iPhone X first. Assuming supply of iPhone X improves, this should create a favorable initial mix of iPhone X units that is likely to be favorable to investor sentiment over at least the next few quarters.” in the article Apple upgraded because $1, 000 iPhone will ‘extract’ more profits from consumers.
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Andy Hargreaves quotes

Jan 26 2017

We believe Facebook's scale in engagement provides a significant barrier to entry and a competitive advantage in testing, analyzing and rapidly evolving new services. In 2017, we expect this to help it continue increasing average engagement across its key platforms and increasing ad

Jan 20 2017 - Youtube

We believe GOOGL's current valuation underestimates the sustainability of growth in search and the opportunity to extend YouTube. Despite YouTube's strong growth, we do not believe it has meaningfully disrupted the ... global TV ad market. The launch of a vMVPD [virtual multi-channel video programming distributor] product in 2017 seems likely, and could accelerate revenue growth and drive significant disruption of TV

Jan 20 2017

We believe its opportunities to continue increasing ad pricing on the core platform and to expand monetization through video and messaging more than offset the risks of slowing ad load growth. As in many internet businesses, we believe Facebook's leading scale provides significant advantages that should help it remain on

Dec 05 2016 - IPhone

Demand and supply checks suggest the iPhone 7 cycle is OK, but not great. We see greater potential for upside through 2017 as detail about the next iPhone cycle may help address gross margin risks or new products could

Oct 31 2016 - Netflix

I think the challenge that Apple has here is it's really hard to become the front end when you don't have the services that people watch. And without Netflix and Amazon ... as part of that app, I don't think anybody's going to tune

Oct 31 2016

The big cable bundle has been successful for a

Oct 31 2016

The challenge with the TV box is it's really a commodity business. I would argue that their box is no better, and maybe even worse in some cases, than a

Oct 31 2016

Given where we are now, there's still time for them to have an effective video strategy. It just has to be something different. It has to be their own service and something with

Oct 18 2016 - Netflix

This is unprecedented growth that should drive a substantial improvement in the breadth and depth of content on the service, which should provide a tailwind to subscriber growth in

Oct 14 2016

We do not recommend owning P. We expect Q3 [third quarter] earnings to provide detail around the economic impact of the new on-demand service. This is likely to prompt a sharp reduction in medium-term profit expectations and reduced confidence in an acquisition, both of which could be negative for the

Oct 13 2016 - Olympic Games

We continue to recommend buying NFLX. ... Continued reactions to Netflix's price increase and distraction from the Olympics should restrain sub growth in Q3. However, both of these factors should begin to wane in Q4, which, along with growing local language support, could drive upside to international subs in Q4 that continues into

Oct 13 2016 - IPhone

Accelerating growth should drive AAPL higher. ... We continue to recommend buying

Sep 07 2016

Despite the potential for GPS to drive growth in Apple Watch unit volume, we continue to believe Apple will have to expand its wearables lineup with lower-functioning devices at lower price points to fully capture the

Jul 22 2016

Pandora's core operating leverage has deteriorated and we see little prospect for meaningful profits in on-demand. While M&A is possible, we do not view it as likely at the current valuation. We believe economics in Pandora's core radio business have been impaired and we do not see meaningful potential for profitability in its push to on demand. We do not recommend owning

Jun 15 2016 - Netflix

We believe bearish views of Netflix's content costs generally reflect a misunderstanding of the business model, or a failure to segment investments and view returns over

May 12 2016 - IPhone

The market is saturated and they have no massive growth drivers outside of the iPhone. Generally speaking, I just think it's a little too

Apr 19 2016

The reductions reflect heightened seasonality and lower incremental adoption, as local content and marketing are being phased in more slowly than previously

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