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Apple (AAPL) stock opens 3% lower after Barclays cut to sell on 'lackluster' iPhone sales
By: Investing | January 2, 2024
Barclays analysts downgraded the rating on Apple (AAPL) stock from Equal Weight to Underweight, expressing concerns about a prolonged period of weak results and the potential for multiple expansion not being sustainable.
Barclays is also going against the consensus as it anticipates higher Services-related risks in 2024. In response to these risks, Barclays cut the rating and set a price target of $160 per share on AAPL stock, which signals a near 17% downside risk.
Apple shares (NASDAQ:AAPL) kicked off the new trading year about 3% lower in response to the news.
Barclays made adjustments following recent checks, revealing concerns about iPhone volumes, mix, and a lack of rebound in Macs, iPads, and wearables. The latest data points from China, particularly related to the iPhone 15, indicate a more challenging environment, coupled with ongoing softness in developed markets.
While there is some strength in emerging markets, it is insufficient to offset broader weaknesses.
“IP15 has been lackluster and we believe IP16 should be the same,” analysts said in a note to clients.
Despite expectations for a largely in-line December quarter, analysts also revised their estimates for the March quarter below consensus. The bank anticipates the March quarter to align closely with seasonal trends, contrary to the Street's more optimistic modeling that remains 10 points above seasonal expectations.
Notably, Barclays has lowered revenue estimates for iPhones and Wearables in the March quarter, resulting in a decline in revenue and earnings per share in the low single digits compared to previous estimates.
On the Services front, analysts noted that while the App Store is experiencing 10% growth in the December quarter, this rate is expected to decelerate to the mid-single digits by the September 2024 quarter.
“We expect reversion after a year when most quarters were missed and the stock outperformed,” analysts concluded.
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Apple’s stock underperformed top tech peers in 2023 due to longest revenue slide in 22 years
Friday, December 29, 2023 10:01 am
6 Comments
In 2023, Apple suffered its longest revenue slide in 22 years, reporting four straight quarters of declining sales. Consequently, Apple’s stock underperformed top tech companies for the year.
Kif Leswing for CNBC:
Apple’s stock rallied in 2023, but its performance was outshined by all of its mega-cap tech peers, as the company suffered four straight quarters of declining revenue.
Apple didn’t release new iPad models in 2023, the first time that’s happened in a calendar year since the product was launched in 2010. Without new models, Apple has less to promote, and older versions of the product don’t see official price cuts that boost sales.
Earlier this month, all current model iPads were shipping from Apple’s website in a day, according to Morgan Stanley analysts. That’s a sign of weak demand… To make matters worse, new Apple Watch models were removed from Apple stores in the U.S. days before Christmas over an intellectual property dispute. After a late December appeal, the devices have been returned to store shelves, but Morgan Stanley analysts estimate Apple lost about $135 million in sales per day during the brief ban.
Sales of Macs fell nearly 27% to $10.2 billion in fiscal 2023.
Looking overseas, Apple would like to see an easing of tensions between the U.S. and China.
In 2023, Apple made significant progress diversifying its centers of production away from mainland China and into countries like Vietnam and India. But its moves to expand its supply chain appear to have awakened an impulse in the Chinese government to classify Apple as a foreign company.
MacDailyNews Take: Not the greatest year, especially vs. other top tech companies. Hopefully, 2024 will deliver new energy to the company.
https://macdailynews.com/2023/12/29/apples-stock-underperformed-top-tech-peers-in-2023-due-to-longest-revenue-slide-in-22-years/
$AAPL - After printing a new ATH in December it has failed to break out so far. A breakout above 200 will lead to the 1.618 extension of the 2022 bear market at 219. On the other hand trading below 187.47 in January may be bearish for the intermediate term.
By: CyclesFan | January 1, 2024
• $AAPL - After printing a new ATH in December it has failed to break out so far. A breakout above 200 will lead to the 1.618 extension of the 2022 bear market at 219. On the other hand trading below 187.47 in January may be bearish for the intermediate term.
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Apple $AAPL Watch for a potential right shoulder at heatmap resistance
By: TrendSpider | January 1, 2024
• $AAPL Watch for a potential right shoulder at heatmap resistance.
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Lowe’s home improvement chain finally offers Apple Pay at checkout
Tuesday, December 26, 2023 10:02 am
No Comments
Lowe’s, the second largest home improvement chain in the United States, after Home Depot (which still does not accept Apple Pay), is rolling out Apple Pay support to its over 2,100 locations across America.
Chance Miller for 9to5Mac:
As reported by multiple 9to5Mac readers, Lowe’s locations across the United States started rolling out Apple Pay support last week. The company has also added tap-to-pay support for contactless credit and debit cards as well.
Walmart shows no signs of adopting Apple Pay, despite newfound pressure from Kroger, which added Apple Pay support back in April. Walmart is by far the biggest Apple Pay holdout in the United States nowadays.
MacDailyNews Take: Yet another reason to choose Lowe’s over Home Depot. Welcome to Apple Pay, Lowe’s!
https://macdailynews.com/2023/12/26/lowes-home-improvement-chain-finally-offers-apple-pay-at-checkout/
Apple Watch import ban takes effect
Tuesday, December 26, 2023 8:26 am
4 Comments
The U.S. International Trade Commission’s (ITC) order has gone into effect as of December 26th, barring imports and sales of Apple Watches that use technology for reading blood-oxygen levels. Apple has included the pulse oximeter feature in Apple Watches starting with its Series 6 model in 2020.
Blake Brittain for Reuters:
U.S. Representative Katherine Tai decided not to reverse the ban following careful consultations, and the ITC’s decision became final on Dec. 26, the Trade Representative’s office said Tuesday.
Apple can appeal the ban to the U.S. Court of Appeals for the Federal Circuit.
The company has paused the sales of its Series 9 and Ultra 2 smartwatches in the United States since last week. The ban does not affect Apple Watch SE, a less expensive model, which will continue to be sold. Previously sold watches will not be affected by the ban…
Masimo has accused Apple of hiring away its employees, stealing its pulse oximetry technology and incorporating it into the popular Apple Watch.
A jury trial on Masimo’s allegations in California federal court ended with a mistrial in May. Apple has separately sued Masimo for patent infringement in federal court in Delaware and has called Masimo’s legal actions a “maneuver to clear a path” for its own competing smart watch.
MacDailyNews Take: As we wrote last week, “If the ITC ruling is not vetoed, and a hardware change is required, expect Apple to pay up and settle this imbroglio with an offer that Masimo cannot refuse.”
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https://macdailynews.com/2023/12/26/apple-watch-import-ban-takes-effect/
Needham & Company think so! ~12/22/20 Boost Target Buy $AAPL $195.00>$220.00 +13.01%
Can Apple’s Torrid Rally This Year Continue in 2024?
By: Barchart | December 21, 2023
Shares of Apple (AAPL) rallied to a new record high last Thursday and are up 50% this year, driven by optimism it will continue to churn out big profits regardless of the health of the economy. However, after reporting four consecutive quarters of declining revenue, fresh headwinds are making it harder for the company to repeat its record-setting pace.
Apple, the world’s most valuable publicly traded company, faces new challenges in 2024. In China, where Apple gets 20% of its revenue, government agencies are cracking down on the use of foreign-made devices. Also, competition from Huawei Technologies Co. is intensifying after it unveiled its new Mate 60 Pro smartphone. In addition, Apple’s smartwatch business faces a potential U.S. ban days before Christmas due to a patent dispute.
This year’s rally in Apple has boosted the stock’s valuation to frothy levels. Apple is priced at 29 times profits projected over the next year, nearly double its 10-year average valuation. With valuations stretched, any rally in Apple will likely be fueled by an acceleration in profits. Analysts anticipate revenue growth of +3.7% in fiscal 2024 and profit expansion of +7.6%. Accuvest Global Advisors, which has trimmed its position in Apple and some other megacap technology stocks, said, “The biggest risk for the business model of the megacap stocks right now is money rotating to other names” as their valuations become stretched.
Most investors have been sticking to investing in megacap technology stocks this year as the Federal Reserve raised interest rates. However, as expectations have risen that interest rate hikes are ending as inflation cools, investors are starting to put money into riskier assets as the stock market’s rally broadens. With Apple’s recent surge to a record high, many analysts have become cautious about the stock. Apple has only 34 buy-equivalent ratings from analysts, compared to 67 buy recommendations for Amazon.com, 65 for Meta Platforms, and 59 for Nvidia.
Not all analysts have cooled on Apple’s prospects. Wedbush Securities estimates Apple will be worth $4 trillion in market value by the end of next year and projects a 12-month price target of $250, well above the $199 expected by analysts on average. Also, Accuvest Global Advisors said the new challenges facing Apple don’t diminish its view that Apple’s iPhone is “the greatest consumer staple that’s ever been created” and, therefore, a “higher multiple is warranted.”
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TLDR because the Fed printed us into oblivion, that is literally the only fundamental reason why it could happen. It will also go very terribly bad if liquidity dries up for any reason, though
Why Apple could hit record $4 trillion market cap in 2024
Wednesday, December 20, 2023 11:52 am
No Comments
Apple is the first company to hit a $3 trillion market capitalization, and Wedbush Securities analyst Daniel Ives says the tech behemoth could hit the $4 trillion mark in 2024.
Angela Palumbo for Barron’s:
Apple, the most highly valued U.S. company, first closed with a market value above $2 trillion on Aug. 20, 2020. Then, 719 trading days later on June 30, 2023, the stock hit a market cap of $3 trillion.
Wedbush analyst Dan Ives expects the stock to hit a $4 trillion market cap by the end of 2024, “given the pace of growth and monetization we estimate for Cupertino over the next year.”
This reflects his belief that about 220 million to 230 million iPhones are available for upgrade in 2024.
Ives rates the stock at Outperform with a $250 price target. Shares of Apple were up 0.5% Wednesday to $197.09. The stock has jumped 52% this year.
Apple currently has a market cap of about $3.1 trillion. The stock would need to close at $257.19 a share or higher to reach the $4 trillion market cap milestone. That’s a 30.6% gain from Tuesday’s close.
Concerns
MacDailyNews Take: From Danny’s lips to Mr. Market’s ears!
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https://macdailynews.com/2023/12/20/why-apple-could-hit-record-4-trillion-market-cap-in-2024/
Apple to pause U.S. sales of Apple Watch Series 9, Ultra 2 over patent dispute
Monday, December 18, 2023 10:45 am
No Comments
Apple on Monday said it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices.
Reuters:
The move comes after an order in October from the U.S. International Trade Commission (ITC) that could bar Apple from importing its Apple Watches after finding the devices violate medical technology company Masimo’s patent rights.
A presidential review period is in progress on the feature and while the review period will not end until Dec. 25, Apple is preemptively taking steps to comply should the ruling stand, the company said.
The company said it would pause sales of the Watches from its website starting Dec. 21, and from Apple retail locations after December 24.
MacDailyNews Take: Proper management would have rectified this situation before a sales pause was necessary.
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https://macdailynews.com/2023/12/18/apple-to-pause-u-s-sales-of-apple-watch-series-9-ultra-2-over-patent-dispute/#google_vignette
China’s iPhone ban accelerates across government and state-run companies
Friday, December 15, 2023 7:54 pm
14 Comments
More Chinese agencies and state-backed companies across the country have asked their staff to not bring Apple iPhones and other foreign devices to work, Bloomberg News reports Friday, citing “people familiar with the matter.”
Bloomberg News:
Multiple state firms and government departments across at least eight provinces — including the prosperous coast — instructed employees in the past month or two to start carrying local brands, according to people familiar with the matter. That’s a major step-up from around September, when a small number of agencies in Beijing and Tianjin began telling staff to leave foreign devices at home, said the people, who asked not to be identified discussing confidential orders.
The much broader, coordinated effort marks a dramatic quickening of Beijing’s campaign to wean itself off American technology, coinciding with the resurgent popularity of homegrown brand Huawei Technologies Co. Xi Jinping’s administration this year decided to expand a ban on foreign devices beyond the most sensitive departments — a directive that had been in place for years — to encompass many more government agencies and even state firms, Bloomberg News reported in September…
Apple gets the majority of the world’s iPhones from sprawling factories run by suppliers like Foxconn Technology Group that together employ millions of Chinese. Chief Executive Officer Tim Cook was the architect of the company’s strategy to outsource manufacturing to China two decades ago. He has worked hard since to maintain positive ties with Beijing, even as Apple has begun shifting more production capacity to other countries including India.
MacDailyNews Take: Sounds like Tim Cook’s latest Chinese Communist Party ass-kissing tour failed to achieve its desired effect.
As we wrote last November:
In 2016, Apple’s “Operations Genius,” Tim Cook, secretly signed a secret agreement with the human rights-abusing Chinese Communist Party estimated to be worth more than $275 billion. Cook promised that Apple would do its part to develop China’s economy and technological prowess via infrastructure investments, business deals, and worker training in exchange for the CCP quashing its surge of what promised to be crippling regulatory actions against Apple, The Information reported last December.
Many years before that, some two decades ago, it was Cook who spearheaded Apple’s move to make products “Designed in California,” but “Assembled in China.”
Since Cook, 62, made his $275 billion secret deal with the CCP five years ago, and as he now nears retirement age, Apple has made precious little headway in diversifying its production away from capricious, authoritarian China.
Why?
If the $275 billion wasn’t to buy Apple half a decade to free itself by diversifying its production away from China, mitigating risk, what was it for?
Longtime Apple analyst Gene Munster [in November 2022] estimated that it would take as long as a decade for Apple to reduce its current near-total reliance on China to meaningful levels.
At the current rate, it doesn’t look like Apple has 10 months, much less 10 years to extricate itself from China.
Tim Cook painted Apple into this corner. It worked marvelously well, until it didn’t.
A publicly traded company CEO’s job is to act in the best interest of its shareholders.
But, Apple’s operations don’t scream “genius” today. They scream “RISK!” But, you know, the market just loooves risk.
Apple shareholders and, in turn, Apple’s rubber-stamping Board of Lackeys, should hold one person responsible if this spiraling China dilemma continues deteriorate: Timothy D. Cook.
So, what’s Cook’s plan for getting the company out of this boxed-in predicament into which he placed it? Certainly Apple shareholders have a right to know.
Hopefully, Cook has a better plan than simply cashing out and dumping this nightmarish quandary into the lap of Apple’s next CEO.
See also: Tim Cook firmly latched Apple onto China’s CCP teat. What’s his plan for weaning it off? – November 2, 2022
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https://macdailynews.com/2023/12/15/chinas-iphone-ban-accelerates-across-government-and-state-run-companies/
Apple $AAPL well well, they're back.. *SIZE* the put seller arrived right before Christmas
By: FLOWrensics | December 18, 2023
• $AAPL well well, they're back..the put seller arrived right before Christmas.
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Apple stock slips on report China is ramping up iPhone ban efforts
By: Investing | December 18, 2023
Apple (NASDAQ:AAPL) shares fell 0.8% in pre-market Monday after Bloomberg News reported that various Chinese government agencies and state-backed companies are reportedly instructing their employees not to bring Apple iPhones and other foreign devices to work.
This move aligns with China's long-term goal of reducing reliance on foreign technologies and promoting the use of domestic products.
Several state firms and government departments in multiple provinces have issued directives in the past month or two, encouraging employees to use local brands.
Read Full Story »»»
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Apple $AAPL - Printed a new all time high on Thursday but hasn't broken out yet. I expect a breakout in the last week of December or 1st week of January that will take it to the 1.618 extension of the July-October decline and the 1.618 extension of the 2022 bear market at 218-219.
By: CyclesFan | December 17, 2023
• $AAPL - Printed a new all time high on Thursday but hasn't broken out yet. I expect a breakout in the last week of December or 1st week of January that will take it to the 1.618 extension of the July-October decline and the 1.618 extension of the 2022 bear market at 218-219.
Read Full Story »»»
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Apple and Corellium settle legal dispute over virtualized iPhone software
Wesley Hilliard | Dec 15, 2023
An Apple-led lawsuit against Corellium for replicating iOS has been settled after years of back-and-forth battles.
Corellium replicated iOS so security research could be performed outside of Apple's usual restrictions in the operating system. Apple filed a lawsuit suggesting the company had violated copyrights in 2019, which has gone through many stages since, and finally comes to an end on Thursday.
The case had returned to a Florida district court to decide whether Corellium had infringed on copyrights of Apple's branding or wallpapers. According to a report from Forbes, Apple and Corellium reached a settlement with unknown terms.
Apple claimed that Corellium's software completely replicates iOS and was used as an alternative to its security research products. Corellium, on the other hand, argued that its duplication of Apple's computer code and app icons was solely for security research and was significantly "transformative" according to the fair use standard.
The lawsuit appeared to have ended originally in 2021 when Apple agreed to drop its claims. Apple then filed an appeal against a ruling made in 2020 where a judge said Corellium's replication was fair use.
The long and winding road of litigation ended with an unknown settlement. But Apple has already proven it is willing to reopen a lawsuit if it feels it has a chance to change the outcome.
https://appleinsider.com/articles/23/12/15/apple-and-corellium-settle-legal-dispute-over-virtualized-iphone-software?utm_medium=rss
Apple’s stock splits: When will AAPL shares split again?
Friday, December 15, 2023 9:34 am
2 Comments
Apple’s stock has split five times since the company went public. The stock split on a 4-for-1 basis on August 28, 2020, a 7-for-1 basis on June 9, 2014, and split on a 2-for-1 basis on February 28, 2005, June 21, 2000, and June 16, 1987.
In each of the five times that Apple has split its stock, it was undergoing strong growth in sales and profitability, save for the split in the year 2000, when sales dipped between the dot-com bust and the release of the iPod in October 2001.
It has been over three years since Apple’s last stock split. In the last two splits, the company appears to have intended to bring the share price down to about $100. With a current price in the upper $190s, and setting new all-time highs, Apple’s Board of Directors may be considering another stock split.
Companies issue stock splits for a variety of reasons, but one motivation is to make their shares more accessible to a wider range of investors. Stock splits increase the number of shares outstanding and reduce the price per share, which makes the stock more affordable for smaller investors.
While fractional share purchases are widely available today, they were not always an option. In the past, investors had to buy whole shares, which meant that high-priced stocks were out of reach for many people. Stock splits were a way for companies to lower the price per share and make their stock more accessible to a broader range of investors.
In addition to making their shares more affordable, companies may also issue stock splits to increase liquidity in their stock. By increasing the number of shares outstanding, the trading volume in the stock can increase, which can make it easier for investors to buy and sell shares. Trading volume is not an issue for Apple, the world’s most valuable company.
Stock splits can also be a signal to the market that a company is doing well. When a company announces a stock split, it can be interpreted as a positive sign that the company’s management is confident about the future prospects of the business.
Finally and importantly, Apple is a major component of the Dow Jones index, which is widely used as a benchmark for U.S. equities. Because the Dow is price-weighted, Apple has a significant weight in the Dow. This means that even small changes in Apple’s stock price can have a large impact on the Dow. This can distort the performance of the Dow and make it less accurate as a measure of the overall market. As a result, there is pressure on Apple to periodically split its stock, which would reduce its weighting in the Dow index and increase the Dow’s accuracy in reflecting the overall market.
Apple is currently 12th out of the 30 companies that comprise the Dow Jones Industrial Average with a weight of around 3.5. UnitedHealth Group is, by far, No.1 in Dow weighting at 9.43. The distant No.2 is Goldman Sachs with a weight of 6.77.
So, if weighting and trading volume were the only triggers for a split, Apple is not likely to do so. Still, the company could split its stock at any time simply as a signal of managements’ confidence in the company’s future.
MacDailyNews Note: So, while fractional share purchases are now widely available, companies still issue stock splits to make their shares more accessible to smaller investors, increase liquidity, signal confidence in the future of the business, and, importantly, reduce their price weighting in the widely used DOW index.
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https://macdailynews.com/2023/12/15/apples-stock-splits-when-will-aapl-shares-split-again-2/#google_vignette
Apple (NASDAQ:AAPL) – Apple’s shares closed at a record $197.96 per share on Wednesday, up 1.7% in response to the prospect of lower Federal Reserve interest rates in 2024. Apple now has a market capitalization of $3.08 trillion.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/92809154/apple-stocks-reach-record-adobe-faces-stock-drops
Apple shares hit new all-time intraday and closing highs
Thursday, December 14, 2023 4:51 pm
6 Comments
In Nasdaq trading today, shares of Apple Inc. (AAPL) rose $0.15, or 0.08%, to $199.11, a new all-time closing high. Today’s intraday high was $199.62, also an Apple all-time high.
Apple’s 52-week low stands at $124.17.
Monday’s trading volume for AAPL shares was 65,862,140 versus Apple’s average trading volume of 54,692,155 shares.
Apple’s PE Ratio currently stands at 32.27.
Apple currently has a market value of $3.081 trillion, making it the world’s most valuable company.
The top five U.S. publicly-traded companies, based on market value:
1. Apple (AAPL) – $3.081T
Microsoft (MSFT) – $2.720T
Alphabet (GOOGL) – $1.659T
Amazon (AMZN) – $1.523T
NVIDIA (NVDA) – $1.194T
Selected companies’ current market values:
• Meta Platforms (META) – $856.200B
• Tesla (TSLA) – $798.068B
• Berkshire Hathaway (BRKA) – $782.847B
• Taiwan Semi (TSM) – $536.534B
• Walmart (WMT) – $409.677B
• Adobe (ADBE) – $266.187B
• Advanced Micro Devices (AMD) – $222.939B
• Cisco (CSCO) – $200.898B
• Netflix (NFLX) – $205.635B
• Intel (INTC) – $190.479B
• Disney (DIS) – $171.940B
• IBM (IBM) – $148.756B
• Sony (SONY) – $113.752B
• SoftBank (SFTBF) – $60.032B
• Dell (DELL) – $51.541B
• Spotify (SPOT) – $38.277B
• Hewlett-Packard (HPQ) – $30.567B
• Nokia (NOK) – $18.660B
• SiriusXM (SIRI) – $21.857B
• BlackBerry (BB) – $2.545B
• Sonos (SONO) – $2.174B
• RealNetworks (RNWK) – $34.820M
Apple all-time high (AAPL) via NASDAQ here.
MacDailyNews Take: To the moon, Alice! To the moon!
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Another interesting and informative post.
Keep them coming!!
Thks
$AAPL is so big now, it has almost surpassed the size of France’s stock market
By: Cheddar Flow | December 14, 2023
• $AAPL is so big now, it has almost surpassed the size of France’s stock market.
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Goldman is there for sure
Break 200 she's off maga levels
Google Play app store ruled an illegal monopoly; why Apple’s App Store is different
Tuesday, December 12, 2023 12:11 pm
Google Play, Alphabet-subsidiary Google’s app store for Android, has been ruled an illegal monopoly. The jury in the Epic v. Google case delivered its verdict, finding that the Google Play app store and Google Play Billing service constitute an illegal monopoly.
The same Epic Games mostly lost its fight against Apple two years ago. See: Apple wins appeal in Epic Games antitrust challenge, App Store policies upheld by court – April 24, 2023
Sean Hollister for The Verge:
Epic v. Google turned out to be a very different case. It hinged on secret revenue sharing deals between Google, smartphone makers, and big game developers, ones that Google execs internally believed were designed to keep rival app stores down. It showed that Google was running scared of Epic specifically. And it was all decided by a jury, unlike the Apple ruling.
Mind you, we don’t know what Epic has won quite yet — that’s up to Judge James Donato, who’ll decide what the appropriate remedies might be. Epic never sued for monetary damages; it wants the court to tell Google that every app developer has total freedom to introduce its own app stores and its own billing systems on Android, and we don’t yet know how or even whether the judge might grant those wishes. Both parties will meet with Judge Donato in the second week of January to discuss potential remedies.
MacDailyNews Note: Google’s statement to the media following the verdict: “We plan to challenge the verdict. Android and Google Play provide more choice and openness than any other major mobile platform. The trial made clear that we compete fiercely with Apple and its App Store, as well as app stores on Android devices and gaming consoles. We will continue to defend the Android business model and remain deeply committed to our users, partners, and the broader Android ecosystem.”
Mark Gurman and Davey Alba for Bloomberg News:
There were significant differences between the two trials. During the current case, Epic highlighted agreements Google reached with top game developers, including Activision Blizzard Inc. and Nintendo Co., for smaller fees. Every developer should now demand one of those deals, Sweeney said.
“Revenue sharing deals among Google, smartphone makers and game developers came to light during the trial,” Justin Patterson and other analysts at KeyBanc Capital Markets wrote in a note to clients. “We believe this was a key difference between the cases that contributed to Apple’s victory and Google’s loss.”
In Apple’s App Store, the same 30% take rate was applied evenly, while Google was attempting to steer traffic away from rival app stores on Android, analysts at Jefferies wrote in a note.
MacDailyNews Take: Just like everything else, Google couldn’t even copy Apple’s innovations correctly. Google’s knockoff of Apple’s App Store is an illegal monopoly. Apple’s is not.
Again:
It’s Apple’s App Store. Of course they have a right to charge commissions.
Apple’s App Store isn’t a charity and it’s not free to operate. – MacDailyNews, November 14, 2022
How much did it cost developers to have their apps burned onto CDs, boxed, shipped, displayed on store shelves prior to Apple remaking the world for the better for umpteenth time? Apple incurs costs to store, review, organize, surface, and distribute apps to over one billion users. — MacDailyNews, June 10, 2022
That said, as we wrote last year:
Those who want safety, security, and privacy will stick to Apple’s App Store, but a single point of control is always a danger, especially when it comes to capricious censorship (see: pre-Musk Twitter, Apple’s App Store in China, etc.).
iPhone and iPad users must, like Mac users, have the ability to install third-party apps; even if they never do, for it will keep Apple honest. The ability to ban an app loses all power when it’s simply available in another App Store.
These moves, including removing the mandate to use WebKit, Apple’s Safari browsing engine, in third-party browsers, will greatly reduce, if not eliminate, the threat of anti-trust actions against Apple for the foreseeable future.
Also, expect Gatekeeper to come to iOS and iPadOS from macOS.
Yes, Apple’s App Store revenue will take a hit, but there are new products for new markets on deck (AR/VR headsets, AR glasses, Apple Car, etc.) that will more than make up for any loss of App Store exclusivity.
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https://macdailynews.com/2023/12/12/google-play-app-store-ruled-an-illegal-monopoly-why-apples-app-store-is-different/
Apple $4.9 Million Put • Strike: 195 • Expiration: 01/19/24
By: Cheddar Flow | December 11, 2023
• Very Unusual $4.9M $AAPL Put Order
The tape has been bearish on Apple today
*Above the Ask*
Read Full Story »»»
DiscoverGold
Senator Warren wades into Apple's Beeper fight with irrelevant antitrust rhetoric
Malcolm Owen | Dec 11, 2023
Senator Elizabeth Warren has publicly sided with Beeper in the public fight over iMessage access, using the issue to try and continue to push an anti-Big Tech agenda that has little relevancy in this particular matter.
Apple's decision to close down access to Beeper Mini and prevent the Android app from working on the iMessage network has reached the ears of U.S. lawmakers. In possibly the first noteworthy comment by a senator on the matter, it has been used as an opportunity to attack Apple, albeit with a bit of flawed logic.
Posted to X on Sunday, Senator Elizabeth Warren (D-MA) starts her response by confirming a fact. "Green bubble texts are less secure," Warren offers, which is true since green texts are unencrypted text messages, unlike the end-to-end encrypted blue ones.
"So why would Apple block a new app allowing Android users to chat with iPhone users on iMessage?" the senator asks before offering her own take. "Big Tech executives are protecting profits by squashing competitors."
Warren signs off the tweet by adding "Chatting between different platforms should be easy and secure."
Given the nature of Twitter/X, and the general lack of technical awareness by politicians, it's not clear if she's aware that Apple will be adopting RCS in 2024, and petitioning for an encryption standard.
Not quite correct
The post is largely an opportunity for Warren to try and attack Apple over ongoing efforts to increase regulation of so-called big-tech companies. It also ignores the actual issue of the situation itself.
Beeper Mini, the Android app, allowed Android users to communicate with iPhone users over Apple's iMessage network. To accomplish this, the app had to pretend to be an Apple device and provide fake credentials to Apple's servers, allowing messages to be passed to and from the Android device.
After cutting off Beeper Mini's access to its servers, Apple confirmed it had taken steps to "protect our users" by blocking techniques that "exploit fake credentials" to access iMessage. Doing so keeps the network secure, with Apple claiming the techniques "posed significant risks to user security and privacy."
While Beeper claimed its app was secure, using end-to-end encryption between participants just as iMessage normally does, the claim can only go so far. Apple cannot easily know that the app is working securely beyond the receiving of messages on Android hardware, something it can do on iOS by tightly controlling the main app and the entire ecosystem.
Since Apple cannot possibly ensure the security of iMessage via an Android app that's faking credentials to pretend to be an iPhone, it has worked to block off the app from the network.
Beeper founder Eric Migicovsky responded on Friday to Apple's block, asking that if Apple cared about privacy and security of iPhone users, asking "why would they stop a service that enables their own users to now send encrypted messages to Android users, rather than using unsecure SMS?" Again, Migicovsky's question can be answered for exactly the same reason: Apple cannot guarantee security of communications once it's off its ecosystem.
Warren can conceivably be credited for knowing about green messages being less secure than blue ones. The insistence of "secure" chats between different platforms is also a plus for her message.
However, the complaint about Apple blocking an app over iMessage misses why Apple blocked the access in the first place. Apple says it's for security, but Warren believes it's a profit protection measure.
Continuing the wrong fight
Warren's message is less a chance to urge Apple to change its messaging network, and more of an attempt to use the dispute to score political points against Apple.
The senator has repeatedly attacked Apple and other so-called Big Tech companies, urging for more regulation to curb the influence of the multinationals. This has included urging Congress to create new laws to manage the largest tech companies, as well as attempts to introduce rules to ban merger deals valued at over $5 billion, to try and prevent anticompetitive activity.
Senator Warren is also known to have called for companies including Apple to be broken up into smaller versions, even if doing so impacts the security of the company's own platform.
https://appleinsider.com/articles/23/12/11/senator-warren-wades-into-apples-beeper-fight-with-irrelevant-antitrust-rhetoric?utm_medium=rss
Apple market value to surpass $4 trillion in 2024 – Wedbush
Monday, December 11, 2023 10:52 am
Wedbush Securities analyst Dan Ives sees continues upside for Apple shareholders, predicting that Apple will become the first company to surpass a $4 trillion market value by the end of 2024.
Ian Krietzberg for TheStreet:
Boosting his price target to $250 from $240 in a Sunday note, Ives said that a boost in iPhone sales could be a boon to the stock.
“With roughly 240 million iPhones in the window of an upgrade opportunity globally now at play for iPhone 15 and Services reaccelerating into [fiscal 2024], we view this as the golden opportunity to own Apple for the next year,” he wrote.
Ives’s assumption centers on Apple beating Wall Street expectations of 220 million to 230 million iPhone deliveries for the year.
Ives added in a post on X that he believed Apple would be the first company to cross a $4 trillion market cap. He estimates that move by the end of 2024, “given the pace of growth and monetization for Cupertino.”
MacDailyNews Take: On Friday, Morgan Stanley raised their target price for Apple from $210 to $220 based on their outlook for Services, iPhone 15 gross margins, and high consumer interest in Vision Pro.
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https://macdailynews.com/2023/12/11/apple-market-value-to-surpass-4-trillion-in-2024-wedbush/
Aw what happened?
Apple $AAPL ATH so close now.... market so strong
By: Options Mike | December 10, 2023
• $AAPL ATH so close now.... market so strong.
Read Full Story »»»
DiscoverGold
Sold my APPLE shares because they dropped.........
at the time--- AAPL was unknown
Steve Jobs signed $4.01 check draws bid of over $36,000 at auction (Update: Sold for $46,063)
Wednesday, December 6, 2023 4:23 pm
A $4.01 check that Apple co-founder Steve Jobs wrote to Radio Shack in 1976 was up for auction on Wednesday at Boston-based RR Auction with a bid of more than $36,000 with a few hours left to go.
Edward Helmore for The Guardian:
The signed check, drawn against an “Apple Computer Company” account at a Wells Fargo Bank branch in Los Altos, California, joins a hot market for Jobs’ signature and memorabilia.
Last year, a $9.18 Apple Computer cheque signed by Jobs in 1976 sold for $55,000; another from the same year, for $13.86 to Elmar Electronics, sold in March for $37,564.
The Apple inventor’s signature on a job application for employment as an “electronics tech or design engineer” from 1973, classified as Jobs’ earliest known signature by the auctioneer, sold in 2018 for $174,757.
A signature from three years later, when Jobs was 21, that appeared on an original Apple founding contract signed by Jobs, Steve Wozniak and Ronald Wayne was sold by Sotheby’s in December 2011 for $1,594,500.
MacDailyNews Note: With just over three hours left in the auction, the current bid is at $36,850 (27 bids) and the next bid is pegged at $40,535 and could increase from there as the auction nears closing.
(Update, December 7, 9:36am ET: The check sold for $46,063.)
See also: Steve Jobs signed check sells for $106,985 at auction – May 11, 2023
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https://macdailynews.com/2023/12/06/steve-jobs-signed-4-01-check-draws-bid-of-over-36000-at-auction/
U.S. senator: Governments are spying on Apple, Google users via push notifications
Wednesday, December 6, 2023 9:12 am
3 Comments
A U.S. senator warned on Wednesday that unidentified governments are surveilling smartphone users via their apps’ push notifications.
Raphael Satter for Reuters:
In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from Alphabet’s Google and Apple. Although details were sparse, the letter lays out yet another path by which governments can track smartphones.
Apps of all kinds rely on push notifications to alert smartphone users to incoming messages, breaking news, and other updates… That gives the two companies unique insight into the traffic flowing from those apps to their users, and in turn puts them “in a unique position to facilitate government surveillance of how users are using particular apps,” Wyden said. He asked the Department of Justice to “repeal or modify any policies” that hindered public discussions of push notification spying.
In a statement, Apple said that Wyden’s letter gave them the opening they needed to share more details with the public about how governments monitored push notifications. “In this case, the federal government prohibited us from sharing any information,” the company said in a statement. “Now that this method has become public we are updating our transparency reporting to detail these kinds of requests.”
The Department of Justice did not return messages seeking comment on the push notification surveillance or whether it had prevented Apple of Google from talking about it.
Wyden’s letter cited a “tip” as the source of the information about the surveillance. His staff did not elaborate on the tip, but a source familiar with the matter confirmed that both foreign and U.S. government agencies have been asking Apple and Google for metadata related to push notifications to, for example, help tie anonymous users of messaging apps to specific Apple or Google accounts.
The source declined to identify the foreign governments involved in making the requests but described them as democracies allied to the United States.
MacDailyNews Take: Reminds us of a song lyric:
Livin’ in the new world
With an old soul
These rich men north of Richmond
Lord knows they all just wanna have total control
Wanna know what you think, wanna know what you do
And they don’t think you know, but I know that you do…
— Oliver Anthony, “Rich Men North of Richmond”
We very much look forward to Apple sharing information with the public about how governments are monitoring users’ push notifications.
The December 6, 2023 letter from Oregon Senator Ron Wyden asking the Department of Justice to lift any existing restrictions around discussions of push notification surveillance, verbatim:
December 6, 2023
The Honorable Merrick B. Garland
Attorney General
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
Dear Attorney General Garland:
I write to urge the Department of Justice (DOJ) to permit Apple and Google to inform their customers and the general public about demands for smartphone app notification records.
In the spring of 2022, my office received a tip that government agencies in foreign countries were demanding smartphone “push” notification records from Google and Apple. My staff have been investigating this tip for the past year, which included contacting Apple and Google. In response to that query, the companies told my staff that information about this practice is restricted from public release by the government.
Push notifications are the instant alerts delivered to smartphone users by apps, such as a notification about a new text message or a news update. They aren’t sent directly from the app provider to users’ smartphones. Instead, they pass through a kind of digital post office run by the phone’s operating system provider. For iPhones, this service is provided by Apple’s Push Notification Service; for Android phones, it’s Google’s Firebase Cloud Messaging. These services ensure timely and efficient delivery of notifications, but this also means that Apple and Google serve as intermediaries in the transmission process.
As with all of the other information these companies store for or about their users, because Apple and Google deliver push notification data, they can be secretly compelled by governments to hand over this information. Importantly, app developers don’t have many options; if they want their apps to reliably deliver push notifications on these platforms, they must use the service provided by Apple or Google, respectively. Consequently, Apple and Google are in a unique position to facilitate government surveillance of how users are using particular apps. The data these two companies receive includes metadata, detailing which app received a notification and when, as well as the phone and associated Apple or Google account to which that notification was intended to be delivered. In certain instances, they also might also receive unencrypted content, which could range from backend directives for the app to the actual text displayed to a user in an app notification.
Apple and Google should be permitted to be transparent about the legal demands they receive, particularly from foreign governments, just as the companies regularly notify users about other types of government demands for data. These companies should be permitted to generally reveal whether they have been compelled to facilitate this surveillance practice, to publish aggregate statistics about the number of demands they receive, and unless temporarily gagged by a court, to notify specific customers about demands for their data. I would ask that the DOJ repeal or modify any policies that impede this transparency.
Thank you for your attention to this pressing matter. If you have any questions or require clarification, please contact Chris Soghoian in my office.
Sincerely,
Ron Wyden
United States Senator
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https://macdailynews.com/2023/12/06/u-s-senator-governments-are-spying-on-apple-google-users-via-push-notifications/
Apple officially warns of ‘push notification spying’ by governments
Thursday, December 7, 2023 9:34 am
4 Comments
https://macdailynews.com/2023/12/07/apple-officially-warns-of-push-notification-spying-by-governments/#google_vignette
Apple to move key iPad engineering resources to Vietnam strengthening alternative manufacturing of China
Friday, December 8, 2023 8:59 am
Apple is for the first time allocating product development resources for the iPad to Vietnam, a major step toward strengthening the Southeast Asian country’s position as an alternative manufacturing hub outside of China, Nikkei Asia reports citing “sources briefed on the matter.”
Cheng Ting-Fang and Lauly Li for Nikkei Asia:
Apple is working with China’s BYD, a key iPad assembler, to move new product introduction (NPI) resources to Vietnam. NPI involves a tech company like Apple collaborating with suppliers on the design and development of new products to make sure the blueprints are doable. This is the first time Apple has shifted NPI resources to Vietnam for such a core device.
Engineering verification for test production of an iPad model will start around mid-February next year, sources told Nikkei Asia. The model will be available in the second half of next year.
BYD was also the first Apple supplier to help the U.S. tech titan shift iPad assembly for the first time to Vietnam in 2022… This shift of NPI engineering resources is focused on entry-level models rather than the premium iPad Pro… Apple also plans to send some NPI processes for the iPhone to India, Nikkei Asia reported earlier.
MacDailyNews Take: The more supply chain diversification Apple can achieve outside of CCP-controlled China, the better.
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https://macdailynews.com/2023/12/08/apple-to-move-key-ipad-engineering-resources-to-vietnam-strengthening-alternative-manufacturing-of-china/
Apple Boosts Vietnam Production, Broadcom Revenue Miss, Stellantis Job Cuts – Latest Updates
December 08 2023 - 06:23AM
IH Market News
"Apple (NASDAQ:AAPL) – Apple is shifting product development resources to Vietnam in partnership with China’s iPad maker BYD. This marks Apple’s first move into Vietnam for a major device, with a planned release for the second half of next year. In India, Apple and its suppliers intend to produce over 50 million iPhones annually over the next two to three years, with plans to manufacture tens of millions more units after that period, as reported by the Wall Street Journal on Thursday. Regarding data breaches in the U.S., Apple revealed in a study that cases have increased by 20% in the first nine months of 2023 compared to 2022."
U.S. index futures showed minimal changes in the pre-market this Friday, as investors maintained a cautious stance while awaiting the release of a crucial report on employment in the U.S.
As of 06:01 AM, Dow Jones futures (DOWI:DJI) rose by 28 points, or 0.08%. S&P 500 futures increased by 0.06%, and Nasdaq-100 futures fell by 0.02%. The yield rate of 10-year Treasury bonds was at 4.182%.
In the commodities market, January’s West Texas Intermediate crude oil rose by 1.66%, to $70.49 per barrel. Brent crude oil for February increased by 1.74%, reaching around $75.34 per barrel. Iron ore with a concentration of 62%, traded on the Dalian exchange, rose by 2.39%, to $135.34 per ton.
On this Friday’s economic agenda, investors are following the 08:30 AM release of the number of jobs created or lost in the economy (payroll) and the unemployment rate for November. At 10:00 AM, the preliminary reading of the December Michigan/Reuters consumer sentiment index is expected. At 13:00 PM, the Baker Hughes Rig Count will be announced.
European markets are on the rise, primarily driven by the luxury and energy sectors. This trend is a response to the recent reduction in German inflation and the anticipation of an important report on employment in the United States, which may confirm predictions of a peak in global interest rates.
Meanwhile, Asian stock markets showed mixed performance. In Shanghai, there was a slight increase, but in Tokyo, the market fell by more than 1.5%, influenced by the strengthening of the yen, which negatively affected Japanese exporters. There are also speculations about possible adjustments in the monetary policy of the Bank of Japan.
The Shanghai SE index in China closed with a modest increase of 0.11%, while Tokyo’s Nikkei index suffered a drop of 1.68%, hampered by the strength of the yen and the downward revision of Japan’s economic growth in the third quarter. Among the most affected stocks were Toyota Industries, Toyota Tsusho, and Ajinomoto. Other important indices also showed variations, with Hong Kong’s Hang Seng Index falling by 0.07%, South Korea’s Kospi rising by 1.03%, and Australia’s ASX 200 increasing by 0.30%.
U.S. stocks performed solidly on Thursday, with the Nasdaq leading the recovery after an earlier dip. The Dow Jones rose 0.17% to 36,117.38 points, the S&P 500 gained 0.80% to 4,585.59 points, and the Nasdaq increased by 1.37% to 14,339.99 points. Optimism about interest rates and the job report boosted the market. Semiconductor and airline sectors stood out, while gold and oil stocks saw declines.
For corporate earnings on Friday, investors will be looking at reports from Hello Group (NASDAQ:MOMO) and Johnson Outdoors (NASDAQ:JOUT).
Wall Street corporate highlights for today
Apple (NASDAQ:AAPL) – Apple is shifting product development resources to Vietnam in partnership with China’s iPad maker BYD. This marks Apple’s first move into Vietnam for a major device, with a planned release for the second half of next year. In India, Apple and its suppliers intend to produce over 50 million iPhones annually over the next two to three years, with plans to manufacture tens of millions more units after that period, as reported by the Wall Street Journal on Thursday. Regarding data breaches in the U.S., Apple revealed in a study that cases have increased by 20% in the first nine months of 2023 compared to 2022.
Broadcom (NASDAQ:AVGO) – The chip manufacturer reported fiscal fourth-quarter financial results that fell short of expectations. The company recorded revenues of $9.3 billion, while analysts had forecast $9.41 billion, according to LSEG, formerly known as Refinitiv. Furthermore, Broadcom issued conservative projections, anticipating annual revenue of $50 billion, in contrast to analysts’ expectations of $52.2 billion.
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC reported a 7.5% drop in revenue for November, totaling NT$206 billion ($6.6 billion). For the first 11 months combined, revenue fell 4.1% year-over-year. Despite expectations of a rebound, uncertainties around China and the slowing economy continue to affect the global chip market.
Micron Technology (NASDAQ:MU) – Micron Technology has signed a union agreement for the construction of a $15 billion chip factory in Boise, Idaho. This agreement could give the company an edge in competing for federal funds under the Chips Act. The Commerce Department has expressed a preference for applicants with unionized construction agreements. Micron is also investing up to $100 billion in New York State over the next two decades, following the same union agreement model.
DocuSign (NASDAQ:DOCU) – Shares of DocuSign fell 0.9% following the release of the electronic signature tool provider’s third-quarter results. The company reported an adjusted earnings per share that beat analysts’ estimates by 16 cents, according to LSEG. Revenue reached $700 million, slightly above the $690 million analysts had expected. Additionally, the company issued revenue outlook for the fourth quarter in the range of $696 million to $700 million, slightly above the $694 million forecast by analysts, as reported by LSEG.
HashiCorp (NASDAQ:HCP) – Shares of the software company fell 20.9% in Friday’s pre-market trading after quarterly results were announced. HashiCorp reported an adjusted earnings of 3 cents per share in the third quarter, generating revenue of $146 million. This surpassed analysts’ expectations, who had predicted a loss of 4 cents per share with revenue of $143 million.
Amazon (NASDAQ:AMZN) – Starting mid-January, the Venmo payment option will no longer be available on Amazon.com. Amazon introduced this option last year, allowing users to add their Venmo accounts to their Amazon profiles. However, the option will be deactivated on January 10. Customers will still be able to use other payment methods, such as debit and credit cards.
UPS (NYSE:UPS) – The Teamsters union, representing UPS workers in the U.S., plans to respond to the firing of 35 newly unionized employees with charges of unfair labor practices and a possible strike. UPS claims staff adjustments, denying unfair practices. The union threatens a strike if there’s no resolution. The contract with UPS remains intact.
FedEx (NYSE:FDX) – FedEx issued a security alert to its contractors, emphasizing the importance of driver safety and vehicle vigilance during the delivery season, due to an increase in illegal activities. The alert included safety tips and highlighted concerns about thefts and robberies reported on social media and TV.
Lululemon (NASDAQ:LULU) – The sportswear company presented a lower-than-expected sales forecast for the holiday period. Reported revenue reached $2.2 billion, which was in line with estimates, at $2.19 billion, according to LSEG.
Levi Strauss (NYSE:LEVI) – Levi Strauss CEO Chip Bergh will step down in January, passing responsibilities to his successor, Michelle Gass. The power transition is scheduled for January 29, while Bergh’s official retirement is on April 26. Until then, he will continue as executive vice chairman of the board and serve as an advisor until the end of the fiscal year.
RH (NYSE:RH) – The home furnishings retailer reported quarterly revenue of $751 million, which fell below analysts’ expectations of $757 million, according to LSEG. Additionally, the company revised its revenue projections downward, now forecasting a range between $3.06 billion and $3.08 billion, while analysts were expecting $3.08 billion.
McDonald’s (NYSE:MCD) – McDonald’s will launch the concept store “CosMc’s,” centered on cold beverages, starting in Bolingbrook, Illinois, with about 10 pilot stores planned mainly in Texas by the end of 2024. McDonald’s will evaluate the results for a year, also testing new service and payment options. In other news, the SDA union in Australia is suing McDonald’s local unit, alleging the chain underpaid about 25,000 managers and supervisors over six years, seeking $66.13 million in back pay. McDonald’s will respond to the allegations at the appropriate time.
UBS (NYSE:UBS) – UBS officially initiated the merger process with Credit Suisse, marking a significant step in the first merger of two globally systemic important banks. The merger, subject to regulatory approvals, is scheduled to occur in 2024, ending Credit Suisse’s independence. UBS anticipates synergies in 2025-2026.
JPMorgan Chase (NYSE:JPM) – JP Morgan Wealth Management created a new Midwest U.S. regional division, led by Beth Brown, to enhance financial advisory services in bank branches. The reorganization aims to expand wealth management for retail clients, boosting resources for financial advisors. The firm now has four branch-based advisor divisions, part of its efforts to invest in and support its financial advisors.
Blackstone (NYSE:BX) – Blackstone and Digital Realty will establish a joint venture to invest $7 billion in developing 10 data centers in Frankfurt, Paris, and Northern Virginia. Blackstone will acquire 80% of the joint venture for about $700 million, while Digital Realty will retain 20%. The joint venture’s completion is anticipated for the first half of 2024. Demand for data centers remains strong as more companies move to the cloud.
HSBC (NYSE:HSBC) – HSBC in Hong Kong is expanding its parental leave, extending maternity leave from 16 to 20 weeks and leave for new fathers or secondary caregivers from 10 to 40 days, starting January 1. The move aims to meet employees’ needs for more flexibility in caring for their families.
Tesla (NASDAQ:TSLA) – Tesla lost a legal battle with the Swedish postal service, with Nordic unions strengthening their opposition. A Swedish court ruled that PostNord does not need to deliver plates to Tesla for the time being. The company faces increasing pressure in the region due to its refusal to negotiate collectively with IF Metall. In other news, Thailand’s Prime Minister Srettha Thavisin showcased industrial areas to Tesla executives seeking investments. Thailand aims to convert a third of its annual vehicle production to electric by 2030, with subsidies and tax breaks to attract manufacturers.
General Motors (NYSE:GM) – General Motors and Autocar Industries are collaborating to develop heavy-duty vehicles powered by GM’s hydrogen fuel cells. The first zero-emission vehicles are expected in 2026, covering various applications such as dump trucks and road maintenance vehicles. Hydrogen is a practical alternative for heavy-duty vehicles due to its longer range and faster refueling times. Additionally, GM, under the leadership of Mary Barra, is revoking its remote work policy, requiring employees to return to the office three days a week starting in January 2024. The move aims to meet business needs and maintain corporate culture.
Stellantis (NYSE:STLA) – Stellantis is cutting jobs at Jeep factories in the U.S. due to California’s emission regulations. The layoffs will affect Detroit and Toledo plants starting February 5. Additionally, Stellantis plans to incorporate swappable battery technology into its electric vehicle fleet in partnership with Ample. EV owners will be able to swap depleted batteries for charged ones in minutes at Ample stations, starting in Spain in 2024 with 100 Fiat 500e models.
Boeing (NYSE:BA) – Boeing plans to increase its 737 jet production to 42 per month by February 2024, two months later than originally planned, due to supply chain issues and delays caused by a supplier error. The pre-pandemic goal of 57.7 aircraft per month will be achieved by October 2025. Additionally, Boeing is in advanced negotiations to sell about 80 787 Dreamliner jets to Thai Airways, outpacing Airbus in a contest for the Thai airline’s fleet renewal. Financial details were not disclosed.
American Airlines (NASDAQ:AAL) – American Airlines appealed to a U.S. appeals court to overturn a decision that found its partnership with JetBlue (NASDAQ:JBLU) anti-competitive. American Airlines argues that the ruling threatens other collaborations between competitors.
Palantir Technologies (NYSE:PLTR) – Palantir Technologies is offering immediate jobs to 180 students feeling insecure due to rising anti-Semitism on university campuses. This initiative comes after university leaders faced criticism for inadequate responses to hostility against Jewish students.
Duke Energy (NYSE:DUK) – CATL, the Chinese battery giant, responded to Duke Energy in the U.S., stating that security threat allegations are false. CATL assures it does not collect, sell, or share data in the U.S. and its products have undergone rigorous security assessments. Duke Energy disconnected CATL batteries due to concerns over its ties with the Chinese Communist Party.
Canadian Solar (NASDAQ:CSIQ) – Canadian Solar will provide 500 MW of battery storage technology for the Coalburn 1 project in the UK, in partnership with Copenhagen Infrastructure. The project will support grid stability during peak consumption times.
ArcelorMittal (NYSE:MT) – ArcelorMittal sold its steel and mining operation in Temirtau to Kazakhstan’s state investment fund for $286 million, including $700 million in intragroup debt payment. The sale will negatively impact the company’s equity by about $800 million.
Dish Network (NASDAQ:DISH), EchoStar (NASDAQ:SATS) – The FCC approved the merger between Dish Network and satellite operator EchoStar, consolidating Charlie Ergen’s telecommunications empire. This merger aims to compete with major U.S. carriers.
Take-Two Interactive (NASDAQ:TTWO) – Take-Two faced a downgrade amid uncertainty over the release of Grand Theft Auto VI. An analyst from BofA Securities downgraded the stock from Buy to Neutral due to Rockstar Games’ history of delays.
DraftKings (NASDAQ:DKNG) – DraftKings is facing a class action alleging deceptive advertising of a $1,000 bet bonus offer. The Public Health Advocacy Institute claims the qualification terms are too burdensome, misleading customers about obtaining the bonus.
Flutter Entertainment – Gambling group Flutter Entertainment plans to list its ordinary shares on the New York Stock Exchange on January 29, simultaneously canceling its secondary listing in Dublin. Flutter will be removed from the EUROSTOXX index starting December 18.
Bain Capital (NYSE:BCSF) – Bain Capital is set to gain over ten times its investment in Cerevel Therapeutics (NASDAQ:CERE) following the sale of the company to AbbVie (NYSE:ABBV) for $8.7 billion. Bain’s 36.5% stake in Cerevel is now worth approximately $2.7 billion.
AbbVie (NYSE:ABBV) – AbbVie plans to focus on smaller deals after its recent multi-billion dollar acquisitions of Cerevel Therapeutics (NASDAQ:CERE) and ImmunoGen (NASDAQ:IMGN). The company expects to return to robust growth by 2025 and is confident the FTC will approve the deal.
Fresenius Medical Care (NYSE:FMS) – Fresenius Medical Care revealed that data, including medical records of 500,000 patients and former patients, was stolen from its U.S. subsidiary’s data warehouse. The incident affected patients, former patients, guarantors, and employees across various locations in the U.S. and four countries.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/92761825/apple-boosts-vietnam-production-broadcom-revenue
apple should make a chip to install into vehicles computers so all cell phones will not work while vehicles are in motion as people are driving. or put the chip in the cell phone to detect when the vehicle is in motion to help stop auto wrecks and kill innocent people.
Foxconn resumes iPhone assembly at Indian factory after Cyclone Michaung pause
Tuesday, December 5, 2023 12:05 pm
Major Apple assembler Foxconn resumed operations on Tuesday at its Indian facility that makes Apple iPhones following weather disruptions due to Cyclone Michaun, two sources familiar with the matter told Reuters.
Foxconn and Pegatron had on Monday halted production of iPhones at their factories near Chennai because of heavy rain as a severe cyclone neared.
MacDailyNews Take: Thoughts and prayers for all of those affected by Cyclone Michaun.
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https://macdailynews.com/2023/12/05/foxconn-resumes-iphone-assembly-at-indian-factory-after-cyclone-michaung-pause/
Carjackers reject Android phone for not being a real iPhone
Monday, December 4, 2023 3:37 pm
6 Comments
After working into the early morning hours, a man in Northwest D.C. was approached by two armed men who proceeded to take everything he had in his pockets — except his Android phone, instead preferring a real iPhone — and the truck he was driving.
Carl Willis for ABC 7 Washington D.C.:
After working into the early morning hours, a woman who asked not to be identified said her husband insisted he meet her outside of their apartment in Northwest D.C. and go park the car.
“As soon as he parked the car two masked gentlemen came up to him, armed,” she said. “They robbed him, took everything he had in his pockets, took the keys to my truck and got in and pulled off.
She said the robbers were bold taking her husband’s phone, but then giving it back because it wasn’t to their liking.
“They basically looked at that phone and was like ‘Oh, that’s an Android? We don’t want this. I thought it was an iPhone,'” she said.
MacDailyNews Take: Even D.C. criminals don’t want pretend iPhones.
See also: Apple iPhone owners are 7.4 times more valuable than Android users – September 5, 2023
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https://macdailynews.com/2023/12/04/carjackers-reject-android-phone-for-not-being-a-real-iphone/
Washington D.C. police commander: AirTag your $2,000 Canada Goose jacket to deter thieves
Friday, December 1, 2023 3:52 pm
9 Comments
Last winter, George Washington University sent out an alert about a string of Canada Goose jacket thefts and robberies that are continuing to plague the area.
Note: Video at link below (2.22 minutes)
Josh Rosenthal for Fox5 Washington D.C.:
“It is something I have to think about, just putting my jacket on,” American University student Meera Hajarnis said. That’s because she was wearing a Canada Goose jacket, which has become a target for thieves.
“I know [George Washington University], Georgetown, same issue where a lot of people are just stealing these jackets out of locker rooms, classrooms,” Hajarnis said.
In at least one instance, they’re stealing them at gunpoint too.
Police said three suspects hopped out of a car, pointed guns, and demanded a victim’s Canada Goose jacket just a few blocks from Dupont Circle on Tuesday night.
Thursday, FOX 5 asked D.C. police if they had any advice.
“AirTags,” said Commander Sylvan Altieri. “I’ve seen people use them on tool kits, suitcases, I think that’s probably the best thing you can do as far as if it gets taken, because it’s a nice way to track it.”
MacDailyNews Take: You know what really deters thieves? The threat of arrest and harsh penalties for theft. Duh. And, yes, AirTags are awesome.
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https://macdailynews.com/2023/12/01/washington-d-c-police-commander-airtag-your-2000-canada-goose-jacket-to-deter-thieves/
Why Chase is Apple Card’s ideal partner to replace Goldman Sachs
Monday, December 4, 2023 9:05 am
2 Comments
Apple and Goldman Sachs are working on a deal to wind down their Apple Card partnership, and Chase is the ideal partner to team with Apple, Mark Gurman writes for Bloomberg News.
Mark Gurman for Bloomberg News:
Between the engineering spending and losses on loans, the credit card was a disaster for Goldman’s balance sheet, contributing to billions of dollars in red ink… So Apple recently offered Goldman Sachs a deal to get out early. If Goldman accepts Apple’s overture, it’s likely to take more than a year for the partnership to wrap up…
[Apple Card] has millions of users and more than $10 billion worth of deposits in related savings accounts… [so] some of the banks that didn’t want to partner with Apple four years ago might be willing to reconsider today. The name that has been discussed publicly the most so far has been AmEx.
But the bank that probably makes more sense as Apple’s new partner is Chase, which already has a significant relationship with the iPhone maker… It offers credit cards that use the MasterCard network. That’s the same system that powers the Apple Card, meaning there’d be no need to switch to the Visa or American Express platforms.
The one component of Apple’s financial services portfolio that wouldn’t be a fit for Chase is its savings account. That product is touted as a high-yield account, with an annual rate of 4.15%… The savings account deposits could be sold and split up among banks willing to offer the same interest rates to Apple. And users of the accounts probably wouldn’t care or even notice, as long as they’re able to access their cash.
MacDailyNews Take: Users of Apple’s high-yield Savings accounts would, of course, also expect them to be FDIC-insured, which they would be if Apple decided to split up the accounts with a group of banks offering high interest rates.
https://macdailynews.com/2023/12/04/why-chase-is-apple-cards-ideal-partner-to-replace-goldman-sachs/
$AAPL chart remains strong, 192.5 needs to clear, 21D catching up
By: Options Mike | December 3, 2023
• $AAPL chart remains strong, 192.5 needs to clear, 21D catching up.
Read Full Story »»»
DiscoverGold
Yeah that’s because the heat got turned up. Directed dollars is now the mantra of the right. Apple, like all the rest of the woke corps are frighten little children , who follow the lefts mandates right up to the point where they start to loose money,power and fame. Any major corp that boycotts X then has most of its production made in China just exemplifies the hypocrisy of these companies.
Apple’s bonds have seen equity-like returns in the past month
Thursday, November 30, 2023 5:28 pm
Investors who purchased Apple Inc. bonds in October are now looking at equity-like returns, as prices have climbed while spreads have tightened as Treasury yields fell.
Ciara Linnane for MarketWatch:
Hopes for one or more rate cuts by the Federal Reserve in 2024 have sparked a rally in Treasurys that has seen the Bloomberg US Aggregate Bond Index, a broad-based fixed-income benchmark, surge 4.91% so far in November as of Wednesday’s close. That puts it on pace for the biggest monthly gain since May 1985, when the monthly return was 5.23%.
The high-grade and highly liquid bonds issued by the iPhone maker have gained up to 15% in price depending on duration, while spreads have tightened up to 22 basis points, since mid-October.
In comparison, Apple’s stock has rallied about 10%.
Given those strong returns, the bonds have seen net selling in the last 10 days, most likely due to profit-taking as the month draws to a close and fund managers seek to lock in some gains.
MacDailyNews Take: Bonds. Yawn… but also YUM!
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https://macdailynews.com/2023/11/30/apples-bonds-have-seen-equity-like-returns-in-the-past-month/
UK antitrust regulator wins appeal to launch Apple probe
Thursday, November 30, 2023 9:44 am
In a reversal of a lower court ruling, Britain’s antitrust regulator, the Competition and Markets Authority (CMA), has been granted authority by the Court of Appeal to launch a probe of Apple’s Safari mobile browser and Apple Arcade cloud gaming services. The CMA had previously launched an investigation into the dominance of Apple and Alphabet’s Google in mobile browsers last year.
Reuters:
Apple argued that the CMA had “no power” to launch such an inquiry because it did so too late and that the probe should have been opened last June at the same time the CMA published a report on mobile ecosystems, which found Apple and Google had an “effective duopoly.”
The Competition Appeal Tribunal (CAT) ruled in Apple’s favour in March, but the Court of Appeal upheld the CMA’s appeal on Thursday.
Sarah Cardell, chief executive of the CMA, welcomed the decision which she said “gives the CMA the backing it needs to protect consumers and promote competition in UK”.
She said the CMA is ready to reopen the investigation “when the legal process is complete”.
Apple has the right to seek permission to appeal the decision.
The CMA said its investigation is on hold pending any application for permission to appeal to the Supreme Court.
MacDailyNews Take: As of October 2023, in the UK, Apple’s Safari has 48.62% share of mobile browsers. Google’s Chrome has 42.44%. Worldwide, Safari has just 25.76% share of mobile browsers. Chrome has 64.08%.
Side note: In the U.S., Safari has 51.4% share of mobile browsers. Chrome has 42.34%.
In general, the richer the country, the more iPhones are in use. The poorer the country, the more pretend, wannabe, knockoff iPhones are in use.
https://macdailynews.com/2023/11/30/uk-antitrust-regulator-wins-appeal-to-launch-apple-probe/
Good Read, Thanks $AAPL
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