We expect Nokia device gross margin to stabilize resulting from the transition to lower-cost entry-level phones and a much stronger mid-range and high-end portfolio.
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Our marketing plans do not call for us to refer to the university in any way nor do we have any intention of using the reputation of the university to promote the brand.Merrill Lynch
We expect group's performance to continue to be volatile as concerns about a promotional and lackluster holiday season remain the near-term focus.
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We believe CFO Mike Lehman is one of the most conservative on the Street, and we have no reason to believe there are any accounting irregularities at the company.
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Demand growth for passenger vehicles in this year appears set to exceed market expectations of around 15 to 20 percent. Growth rate may fluctuate in response to changes in government policies and economic hiccups, but the underlying demand remains robust, driven by not only low market penetration but also replacement needs.
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With sustainable high-teens earnings-per-share growth, no matter what the cycle, we think a market multiple significantly undervalues this excellent retailer.
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Risk of brain-drain and lost business dissipates now that leadership and succession issues are resolved.
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