Financial Follies

Fly Charts: JPMorgan's Valuation Trap and Citi's Card Woes

From natural-gas pessimism to a smartphone-upgrade slowdown, here are four charts that tell you what you need to know in business today.
Photographer: Justin Sullivan
JPMORGAN CHASE & CO
+2.40
At Closing, April 19th
111.72 USD

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From natural-gas pessimism to a smartphone-upgrade slowdown, here are four charts that tell you what you need to know in business today.

Changing Times

Fewer customers are swapping out their old phones for new ones, and that's bad news for Apple.

Source: Nomura Instinet

Note: The upgrade rate is a simple average of the percentage of AT&T, Verizon, T-Mobile and Sprint customers who buy a new phone in a given quarter.

Profitability Pays

JPMorgan's steady profitability helps justify its hefty valuation. But climbing any further will be tough.

Source: Bloomberg

Citi's Card Slump

Citi's aggressive push to boost its credit card business has come at a cost.

Source: Company reports

Vanishing Into Thin Air

The long-heralded golden age of natural gas is not a foregone conclusion.

Source: Energy Information Administration

Source: Projected cumulative growth in natural gas consumption, 2020 to 2040.

And don't miss David Fickling on Toyota's too-long menu: "Imagine you went shopping for a Toyota Motor Corp. minivan in Japan with 3 million yen ($27,000) in your back pocket. Which of these models would you pick: The Voxy, the Noah, or the Esquire? It's a trick question. They're all the same car, with minor variations to tailor them to Toyota's four -- count 'em -- domestic dealership networks."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE