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Investec in £350m securitisation deal

Investec Principle Finance has completed a £350m residential mortgage securitisation, Landmark Mortgage Securities No 2 PLC. The mortgage loans were acquired from Infinity Mortgages, Unity Homeloans and Amber Homeloans.

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CII applauds FSA competent employees rule

The Chartered Insurance Institute has welcomed the Financial Services Authority’s proposal that all authorised firms must abide by the competent employees rule as part of the revised training and competence rules that will come into force in November 2007.The competent employees rule requires that employees have all the expertise necessary for the discharge of the […]

Bright launches introducer website

Bright Finance has launched a business website for introducers. The website, designed by Sheffield firm Technophobia, is the first phase of Bright’s project to provide web-based services to its introducers.

Freedom cuts fixed rates

Freedom Lending has reduced the pricing of its two and three-year fixed rates.Freedom’s prime self-cert two and three-year fixed rates are now from 5.73%, it’s buy-to-let with rental income for two and three-year fixed rates are now from 5.68%. The buy-to-let rental and earned income is also down, with the two and three-year fixed rates […]

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.

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