Victor buys CAF 23.27: In the U.S., cards still use magnetic swipes, but they are moving to chips with a PIN.

It shows (Mark) Zuckerberg is thinking multidecades. It's interesting, but not a needle mover, but it's on the come. They'll monetize over time, so profit will reaccelerate. They have 1.5 billion users on Facebook. They have 300 million users on Instagram, a lot on WhatsApp.


Gabriele:
Right now things are in transition in mobile.

Kerstin:
The watch doesn't look like it will be a success -- or at least not move the needle enough.

Denise:
It's hard to drive a higher multiple.

Allie:
Can they grow (as fast) off this base?

Ashley:
I remain concerned about their ability to innovate, and does that drive enough of a replacement?

Kareen:
What we underestimated is how impactful the replacement cycle would be.

Florencia:
Now the issue is its replacement cycle.

Gracia:
The worry has been about the company after this iPhone cycle.

Rebbeca:
The most constructive part is its valuation and capital structure.

Quyen:
The stock peaked around 130. It's been sort of trading sideways.

Morgan Stanley China A Share Fund Inc. (NYSE:CAF)
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