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Apple’s App Store removes predatory lending apps in India
Friday, July 7, 2023 11:33 am
Apple has removed several predatory lending apps from its App Store in India this week, days after media and app store shoppers questioned the legitimacy of those services.
Manish Singh for TechCrunch:
Pocket Kash, White Kash, Golden Kash, and OK Rupee are among the apps that Apple pulled from the store this week. The apps offered fast-track lending to consumers in India, climbing to the top 20 of the finance list on the App Store in recent weeks. But they also levied outrageously superfluous charges, according to hundreds of user reviews.
The lenders also employed downright unethical tactics to get the borrowers to pay back.
“I borrowed an amount in a helpless situation and […] a day before repayment due date I got some messages with my pic and my contacts in my phone saying that repay your loan otherwise they will inform our contacts that your not paying loan,” a user review from last month said.
The apps — whose developers had strange names and suspicious websites — were littered with hundreds of similar reviews, some sharing even more alarming threats that they allegedly received from the lenders.
MacDailyNews Take: Obviously, these apps do not adhere to Apple’s App Store rules and, thankfully, Apple has quickly removed them. How responsive would some third-party app store be?
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https://macdailynews.com/2023/07/07/apples-app-store-removes-predatory-lending-apps-in-india/
Apple’s Irish tax escrow account has lost almost a billion dollars in the last year
Friday, July 7, 2023 10:25 am
The amount available at the end of the day for either Apple or the Irish government from lengthy legal proceedings over the company’s Irish tax affairs lost almost a billion dollars in the last year ahead of the final ruling. If the EU wins, the sum will be handed over to the Irish government; if the EU loses, it will be returned to Apple.
The Irish Times:
A quick recap: the State set up the escrow account in 2018 to hold €14.3 billion of alleged back taxes and interest that the European Commission ordered it to collect from Apple, even as the State and the iPhone maker appealed the matter before the courts in Luxembourg.
Apple and the Government won their case in 2020, with the General Court in Luxembourg deciding that the commission failed to show to “the requisite legal standard” that the US tech giant secured an unfair tax advantage in the decade to 2014.
A hearing on the commission’s appeal against that decision was heard by the European Court of Justice last month, with the court’s advocate general set to deliver his influential opinion on November 9th – ahead of a final ruling.
The escrow account is mainly made up of investments in euro-zone government bonds, rather than cash. The Department of Finance said on Wednesday that a further €259 million was knocked off the fund’s value last year, to bring it down to less than €13.4 billion.
MacDailyNews Take: When Apple wins, it should be compensated for the lost value of their money as it languished in escrow while mired in poorly performing euro-zone government bonds.
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https://macdailynews.com/2023/07/07/apples-irish-tax-escrow-account-has-lost-almost-a-billion-dollars-in-the-last-year/
China plays a trump card in the chip war, but Apple chip production unaffected so far
Thursday, July 6, 2023 5:05 pm
Taiwan Semiconductor Manufacturing Company (TSMC), Apple’s contract chipmaker, said it doesn’t expect any immediate impact on its production from China’s decision to restrict the export of two metals widely used in semiconductors and electric vehicles.
Ben Blanchard and Roger Tung for Reuters:
In a move that a top Chinese trade adviser warned was “just a start,” Beijing said on Monday it would limit exports of products made from the minor metals of gallium and germanium to protect national security. That followed the U.S. decision to impose export restrictions to curb China’s access to key technologies used for artificial intelligence.
Taiwan is a major producer of chips used in everything from smartphones and cars to fighter jets, supplying companies like Apple and Nvidia.
“After evaluation, we do not expect the export restrictions on raw materials gallium and germanium will have any direct impact on TSMC’s production,” Taiwan Semiconductor Manufacturing Co said in an emailed statement. “We will continue to monitor the situation closely,” it added, without elaborating.
MacDailyNews Take: We’ll see if China does anything more with its rare earths export quota, but when they cut rare earths exports in 2010 amid tensions with the United States, it resulted in greater efforts by companies outside of China to produce the metals and China’s global market share dropped precipitously from 97% in 2010 to about 60% in 2019.
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https://macdailynews.com/2023/07/06/china-plays-a-trump-card-in-the-chip-war-but-apple-chip-production-unaffected-so-far/
Among many successes this year, Apple’s security and privacy engineers thwarted Pegasus
Thursday, July 6, 2023 9:04 am
Apple security and privacy engineers thwarted Pegasus. It was just one of their successes this year. Fast Company’s Harry McCracken speaks with Apple engineers who are creating innovative ways to protect users from a wide array of threats.
Harry McCracken for Fast Company:
For years, Apple has made privacy and security one of the iPhone’s principal selling points. But a fraction of users—including dissidents, activists, and journalists—have reason to obsess over it. Governments and others with ill intent have targeted these groups with sophisticated spyware to gain access to messages, location data, and other information that can compromise not just privacy but their physical safety. “These are attackers who are willing to spend untold millions and millions and millions of dollars going after extremely small numbers of people,” says Apple’s head of security engineering and architecture Ivan Krstic.
To combat this threat, Apple asked itself a new question, explains security engineering and architecture engineering manager Lucia Ballard: “If we design for just [this] incredibly narrow subset of people, what can we do?” Rather than introducing additional security settings addressing all the potential threats—which would leave users having to fine-tune their own level of self-defense—Ballard advocated for a single option that was more classically Apple-esque in its simplicity.
Called Lockdown Mode and released in 2022, the feature hardens iPhones — and Macs and iPads — by restricting functionality across the operating system that might let targeted spyware wriggle in. For instance, other users can’t initiate FaceTime calls with you unless you’ve called them in the past, and most kinds of message attachments are blocked.
MacDailyNews Take: With Lockdown Mode, Apple has dealt a devastating blow to mercenary spyware!
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https://macdailynews.com/2023/07/06/among-many-successes-this-year-apples-security-and-privacy-engineers-thwarted-pegasus/
Valkyrie Is Latest ETF Issuer to Refile Bitcoin Fund Application With SEC
Vildana Hajric
Wed, July 5, 2023 at 1:42 PM EDT·2 min read
(Bloomberg) -- Valkyrie is the latest issuer to refile an application for an exchange-traded fund that invests directly in Bitcoin after the US Securities and Exchange Commission had indicated initial documents were insufficient.
The Nashville, Tennessee-based firm said in filing that Coinbase Global Inc. will provide market surveillance in support of its proposed Bitcoin fund. The SEC had pushed back against previous filings for lacking clarity.
The new documents filed on Wednesday state that Nasdaq, which Valkyrie would list on if approved, had on June 30 “executed a term sheet with Coinbase” to “enter into a surveillance-sharing agreement.”
“This is something I’ve been looking for. Valkyrie is one of the only Bitcoin ETF filers from the recent past that hadn’t submitted a new 19b-4 in this wave,” said Bloomberg Intelligence ETF analyst James Seyffart.
Valkyrie was one of the early issuers to launch a Bitcoin-futures ETF in 2021. That fund, the Valkyrie Bitcoin Strategy ETF, trades under the ticker BTF.
Crypto market surveillance may be key to gaining SEC approval for a spot Bitcoin ETF. The surveillance can dramatically reduce fraud and market manipulation, which were top reasons the agency rejected around 30 spot Bitcoin ETF applications to date.
Surveillance—sharing agreements can be thought of as standard market practice, said Ophelia Snyder, co-founder and president of 21Shares, which also has an application out for a spot-Bitcoin ETF.
“In this case, it’s actually which exchange it is that changes the conversation,” Snyder said on Bloomberg TV’s ETF IQ show. While there have been surveillance-sharing agreements in the past, “Coinbase represents such a large proportion of the US market for these products and is so well-established in this market that that’s actually the major difference.”
Following BlackRock’s mid-June filing for such an ETF, a slew of other firms filed or refiled for spot products amid market optimism that the SEC could reverse its long-standing view that such a fund shouldn’t be allowed. In evidence of a partial thaw, the agency did allow ETFs tied to Bitcoin futures in 2021 and recently also green-lit a leveraged Bitcoin-futures fund.
BlackRock’s initial filing has not only set off a race among other issuers for similar filings, but also sparked a rally for cryptocurrencies broadly. Bitcoin has added more than 10% over the past month alone and is up more than 80% since the start of the year. The idea of a potential spot ETF is exciting for many fans of digital assets because it could mean greater accessibility for everyday investors.
--With assistance from Katie Greifeld.
https://finance.yahoo.com/news/valkyrie-latest-etf-issuer-refile-134740014.html
Apple, Amazon, Google, Meta, Microsoft say they meet EU gatekeeper threshold
Wednesday, July 5, 2023 9:27 am
Seven tech giants, including Apple, Amazon, Google, Meta, and Microsoft, have said they meet the European Union’s new criteria for “gatekeepers,” which means they will be subject to stricter regulations.
Reuters:
Samsung and TikTok owner ByteDance also unexpectedly said they would meet the criteria, although TikTok disputed whether it should be included on the list. Booking.com said it expected to fall into the gatekeeper category next year.
Under the European Union’s Digital Markets Act (DMA) which came into force in November, companies with more than 45 million monthly active users and a 75-billion-euro ($82 billion) market capitalisation are considered gatekeepers providing a core platform service.
Companies labelled as such will be required to make their messaging apps interoperate with rivals and let users to decide which apps to pre-install on their devices.
The European Commission did not provide details of the companies’ core online services subject to DMA rules.
It will confirm the gatekeeper designation by Sept. 6 after checking the data provided by the companies, which will then have six months to comply with the DMA rules.
MacDailyNews Take: It will be interesting to see how Apple handles its Messages app and its iMessage instant messaging service under the DMA especially how much “interoperability” the DMA will ultimately demand and how much Apple will ultimately provide. Expect Apple to fight to preserve iMessage’s end-to-end encryption and Messages features that are unique to Apple products.
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https://macdailynews.com/2023/07/05/apple-amazon-google-meta-microsoft-say-they-meet-eu-gatekeeper-threshold/
Apple assembler Foxconn Q2 sales slip 14%, forecasts strong Q3
Wednesday, July 5, 2023 8:30 am
Foxconn, a major assembler for Apple, reported a 13.8% year-on-year drop in second-quarter revenue on Wednesday, but said it expects third-quarter revenue to be brighter ahead of the peak shopping season.
Reuters:
Foxconn, formally called Hon Hai Precision Industry Co Ltd and the world’s largest contract electronics maker, said revenue in the April-June period reached T$1.3 trillion ($41.76 billion), in line with its expectations.
For smart consumer electronics products, which include smartphones and are the company’s main business driver, revenue in the second quarter dropped, coming off a higher base in the year ago period, it said in a statement without giving details.
For the month of June, sales fell 19.7% year-on-year, though at T$422.8 billion it was still the second highest figure on record for the same period.
“With the second half of the year peak season currently underway, operations will gradually ramp up,” the company said. “The outlook for the third quarter, which will be better than the second quarter, is expected to increase at an on quarter pace higher than seen in the previous two years. When compared to the pre-pandemic period, the growth rate is expected to be approximately on par.”
MacDailyNews Take: Foxconn, which assembles products for myriad companies beyond Apple, reports its second quarter earnings on August 14th.
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https://macdailynews.com/2023/07/05/apple-assembler-foxconn-q2-sales-slip-14-forecasts-strong-q3/
Coinbase Will Be Surveillance Partner for Fidelity, Other Bitcoin ETFs, Refiled Applications Say
The SEC told Cboe it needed to name its partner earlier Friday.
By Nikhilesh De
AccessTimeIconJun 30, 2023 at 4:39 p.m. EDT
Updated Jul 3, 2023 at 11:36 a.m. EDT
Cboe's BZX Exchange named crypto exchange Coinbase as the market for its surveillance-sharing agreement when it refiled its spot bitcoin exchange-traded (ETF) fund applications for several would-be bitcoin ETF issuers on Friday.
Fidelity, WisdomTree, VanEck, ARK Invest, Galaxy/Invesco and BlackRock all filed for spot bitcoin ETFs over the past few weeks, hoping to succeed at launching a product the U.S. Securities and Exchange Commission (SEC) has rejected for years. While BlackRock filed with Nasdaq, the other companies are working with Cboe.
On Friday, the SEC told some both Nasdaq and Cboe that their applications were "inadequate" because they didn't name the market that the fund sponsors are working with on their surveillance-sharing agreements, according to the Wall Street Journal.
In its refiled applications, Cboe said Coinbase's platform "represents a substantial portion of U.S.-based and USD denominated Bitcoin trading" as it named the U.S. crypto exchange as its partner for these surveillance-sharing agreements.
"The Spot BTC SSA [surveillance-sharing agreement] is expected to have the hallmarks of a surveillance-sharing agreement between two members of the ISG, which would give the Exchange supplemental access to data regarding spot Bitcoin trades occurring on Coinbase if the Exchange determines it is necessary as part of its surveillance program for the Commodity-Based Trust Shares in a manner similar to the way that exchanges share information as part of ISG," the filing said.
The SEC has called for surveillance-sharing agreements with markets of "significant size" in the past, arguing that this is necessary to prevent market manipulation or other unwanted behaviors and protect consumers. The lack of these agreements figured heavily into many of the SEC's prior rejections of bitcoin ETF applications.
The regulator still has to formally acknowledge it is reviewing the applications. The SEC will kick off an initial 45-day review period when it publishes the filings in the Federal Register – the national logbook – but can extend this to a total of 240 days.
Complicating the SEC's calculus may be the fact that it sued Coinbase earlier this month on allegations of operating an unregistered securities exchange, broker and clearinghouse – though the SEC is not alleging that Bitcoin itself is a security, and SEC Chair Gary Gensler has often referred to it as an example of a digital asset that is not a security.
It also remains to be seen whether the SEC will agree that Coinbase is a significant, regulated market for bitcoin.
https://www.coindesk.com/policy/2023/06/30/coinbase-will-be-fidelitys-surveillance-partner-for-bitcoin-etf-refiled-application-says/
BlackRock spot Bitcoin ETF filing names Coinbase as ‘surveillance-sharing’ partner
TURNER WRIGHT
2 HOURS AGO
The application included a Nasdaq-Coinbase agreement “intended to supplement the exchange’s market surveillance program” following the SEC reportedly saying the filing was unclear.
The most recent filing involving asset manager BlackRock’s attempt to launch a spot Bitcoin exchange-traded fund (ETF) included a “surveillance-sharing agreement” with cryptocurrency exchange Coinbase.
According to a June 29 filing with the United States Securities and Exchange Commission (SEC), the Nasdaq stock exchange refiled for a proposed rule change allowing the listing of BlackRock’s Bitcoin
BTC ETF. The filing included details of a June 8 agreement between the Nasdaq and Coinbase “intended to supplement the exchange’s market surveillance program” and provide access to data on spot BTC trades.
The release of the SEC filing followed ARK Investment Management amending its spot BTC ETF application to include a surveillance-sharing agreement with the Chicago Board Options Exchange (Cboe) and an unnamed U.S.-based crypto exchange. Some speculated at the time the agreement was with Coinbase, which would seemingly put it in conflict with BlackRock’s ETF application.
The SEC reportedly said on June 30 that crypto ETF filings with the Nasdaq and the Cboe were not “sufficiently clear and comprehensive,” suggesting that the applicants include additional information on surveillance arrangements. BlackRock first applied for the spot BTC ETF on June 15.
At the time of publication, the U.S. securities regulator had not approved any spot ETF linked to crypto investments despite numerous applications from market participants. Following the denial of its spot Bitcoin ETF in June 2022, Grayscale Investments filed a lawsuit against the SEC, alleging the regulator had failed “to apply consistent treatment to similar investment vehicles.”
https://cointelegraph.com/news/blackrock-spot-bitcoin-etf-filing-coinbase-surveillance-partner
Apple’s weighting in the S&P 500 has swelled to 7.6%, the biggest of any one stock in index’s history
Monday, July 3, 2023 9:34 am
The share price of Apple, by far the world’s most valuable company, with a market capitalization over $3 trillion, has surged 49% so far this year, increasing its weight in stock indexes to record levels. The company’s weighting in the S&P 500 has swelled to 7.6%, the biggest of any one stock in the history of the benchmark index, according to S&P Dow Jones Indices.
Lewis Krauskopf for Reuters:
That hefty weighting means moves in Apple’s shares have an outsized influence on index performance.
If shares of Apple keep rallying, that could hurt the results of active fund managers, who strive to beat indexes such as the S&P 500 or Russell 1000.
The issue has taken on additional urgency this year, as the market’s gains are being led primarily by a handful of megacap companies such as Apple, Microsoft and Nvidia, whose shares have outperformed.
“If you’re an active manager, one of the issues is it’s hard to own that much of one name. You are taking on more and more risk,” said Todd Sohn, technical strategist at Strategas. “Because they are such heavy weights within the benchmarks, it becomes really challenging to outperform.”
Apple’s weighting in the S&P 500, for example, is bigger than the entire 37-stock consumer staples sector (.SPLRCS), which was last at a weight of 6.7%.
In the MSCI All-Country index, a widely used benchmark for stocks globally, Apple’s 4.7% weight is greater than that of all United Kingdom stocks combined, which account for 3.6%, according to DataTrek Research.
MacDailyNews Take: Let the fomenting begin! In fact, the fomenting against Apple has already begun (see Financial Times‘ Apple forced to make ‘drastic’ cuts to Vision Pro production forecasts).
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Apple forced to make ‘drastic’ cuts to Vision Pro production forecasts
Monday, July 3, 2023 9:08 am
Apple has been forced to make “drastic” cuts to production forecasts for its Apple Vision Pro spatial computer, Financial Times reports. The complexity of the headset design and difficulties in production are reportedly behind the scaling back of targets.
Qianer Liu, Patrick McGee, and Kana Inagaki for Financial Times:
[P]lans for a more affordable version of the device have had to be pushed back, according to multiple people with direct knowledge of the manufacturing process.
Two people close to Apple and Luxshare, the Chinese contract manufacturer that will initially assemble the device, said it was preparing to make fewer than 400,000 units in 2024. Multiple industry sources said Luxshare was currently Apple’s only assembler of the device. Separately, two China-based sole suppliers of certain components for the Vision Pro said Apple was only asking them for enough for 130,000 to 150,000 units in the first year.
Both projections imply a significant cut to production from an earlier, internal sales target of 1mn units in the first 12 months. The forecasts for low volumes reflect Apple’s lack of confidence in being able to scale production, according to analysts and industry experts…
“A lot of this is normal growing pains,” said Jay Goldberg, founder of tech consultancy D/D Advisors. “This is the most complex consumer device anyone has ever made.”
MacDailyNews Take: Issues are to be expected this far ahead of mass production. Things could look much differently in a few months. Regardless, the song remains the same: get your Apple Vision Pro pre-orders in as soon as pre-orders begin!
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https://macdailynews.com/2023/07/03/apple-forced-to-make-drastic-cuts-to-vision-pro-production-forecasts/
Citi initiates Apple coverage with ‘Buy’ rating and $240 price target
Friday, June 30, 2023 8:56 am
Citi Research analyst Atif Malik late Thursday initiated coverage of Apple stock with a “Buy” rating and a $240 price target.
Emily Bary for MarketWatch:
“We believe the Street is underestimating continued gross margin expansion,” he wrote in his note to clients, which was titled: “A Hardware Company That Thinks Like a Software Company.”
Malik is upbeat about Apple’s AAPL ability to expand margins by continuing to drive consumers toward more expensive devices and configurations. Plus, Apple boasts “resilient market share,” with gains against Android devices, and it’s poised to lower its own costs thanks to a move to design its own custom chips.
“Moreover, growing higher-margin services sales mix should help expand the overall corporate gross margins,” Malik continued, as he set a $240 price target on Apple shares, which closed Thursday at $189.59.
MacDailyNews Take: From Atif’s lips to Mr. Market’s ears!
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Apple on the losing side as Supreme Court strikes down affirmative action in college admissions
Thursday, June 29, 2023 4:00 pm 21 Comments
Last August, Apple was among a group of nearly 80 companies filing a brief with the U.S. Supreme Court in support of affirmative action programs being challenged at Harvard and the University of North Carolina. The court on Thursday specifically ruled against race-conscious affirmative action in college admissions programs.
Yahoo Finance:
Those programs “violate the Equal Protection Clause of the Fourteenth Amendment,” Chief Justice John Roberts wrote for the 6-3 majority ruling in both cases, Students for Fair Admissions v. President and Fellows of Harvard, and Students for Fair Admissions v. University of North Carolina.
Dozens of major corporations across various industries took interest in the case, including Apple, Google, General Motors, General Dynamics, Dell, and Starbucks.
Those companies and nearly 40 others joined in an amicus brief contending that diversity in higher education ultimately helps their businesses by providing a diverse pool from which they can recruit.
In concurring with the majority, Justice Clarence Thomas wrote that under the 14th Amendment, “the color of a person’s skin is irrelevant to that individual’s equal status as a citizen of this nation.”
MacDailyNews Take: Regarding affirmative action, as we wrote back on December 31, 2015:
Getting the absolute best people should remain Apple’s ultimate goal. Forced diversity carries its own set of problems. Would the group be comprised of the best-qualifed people possible or would it be designed to hit pre-defined quotas? Would some employees, consciously or unconsciously, consider certain employees, or even themselves, to be tokens meant to fill a quota? That would be a suboptimal result for Apple and everyone involved.
The best and desired outcome is for the quest for diversity to work in Apple’s favor. Truly looking at qualified people from a larger pool would likely result in delivering different viewpoints and new ways of looking at things and tackling problems than a more homogenized workforce would likely be capable of delivering.
Regardless and of course, someday it sure would be nice for everyone to just be able to evaluate a person’s potential, not measuring and tabulating superficial, meaningless things like skin color and gender.
How do we ever get to the point where people “will not be judged by the color of their skin, but by the content of their character,” when we insist on judging people by the color of their skin?
See also: Apple backs affirmative action in U.S. Supreme Court case – August 1, 2022
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https://macdailynews.com/2023/06/29/apple-on-the-losing-side-as-supreme-court-strikes-down-affirmative-action-in-college-admissions/
Apple plans 900,000-square-foot first phase for North Carolina campus
Friday, June 30, 2023 12:55 pm
In April 2021, Apple announced plans to open a new campus in the Raleigh, North Carolina area. The company will spend over $1 billion on the campus, eventually employing 3,000 software engineers and machine learning employees.
Lauren Ohnesorge for Triangle Business Journal:
Site plans obtained by the Triangle Business Journal show the first phase of the huge project includes a 41-acre development with six buildings and a parking garage. The plans, filed with Wake County, show there will be more than 700,000 square feet of office space, 190,000 square feet of accessory space and close to 3,000 parking spaces.
What’s not clear from some of the highly-redacted documents is when those buildings could go vertical at the site along Louis Stephens Drive and Little Drive just north of Highway 540.
The new documents show the largest of the six buildings will be for office use and total 241,899 square feet. The plans do not appear to include a construction timeline but mention that a permit will be required for grading work to begin…
The other two office buildings will total just over 230,000 square feet. The plans list three accessory buildings with sizes of 142,500 square feet, 12,300 square feet and just under 36,000 square feet.
The three office buildings and the largest accessory buildings have listed heights of 73 feet each – about 6-7 stories. The other accessory buildings have listed heights of 43 and 24 feet.
The plans list the max building height as 120 feet.
MacDailyNews Note: Earlier this month, Apple filed plans to build 2.7 million square-foot office building project in Wake County, North Carolina
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https://macdailynews.com/2023/06/30/apple-plans-900000-square-foot-first-phase-for-north-carolina-campus/
Apple AirTag tracks down gravesite thieves who stole $62,000 worth of bronze vases
Thursday, June 29, 2023 9:56 am
Hundreds of gravesites in Texas were robbed of tens of thousands of dollars worth of bronze vases, but an Apple AirTag helped police track down the thieves.
Deven Clarke for Click2Houston:
Investigators say the suspects intended to sell the sentimental items as scrap metal.
Before that could happen, officials say some of the loved ones affected took matters into their own hands and helped police find three of the suspected culprits.
“It is very frustrating having to do this over and over again,” said Tony Velazquez, who recently found out his uncle’s grave at the Restwood Memorial Park in Clute had been robbed… Velazquez says this time, the thieves were nice enough to take the flowers out of the vase and put them in the empty hole.
What the thieves didn’t know is that an Apple AirTag was attached to that vase and would help investigators track it and dozens more some 45 minutes away.
“They gave us the login information and allowed us to then track it. We tracked it to a residence right outside of the town of Brazoria,” said Clute Police Chief James Fitch. Fitch says they were able to arrest the suspects believed to be responsible for stealing 102 vases over the past two months. “These things run about 600 bucks a piece, so we’re talking $62,000 worth.”
Dillon Bryan Pollock, Cody Eben, and Daniel Lewis Hale are charged with third-degree felony theft… Police say a fourth suspect is still on the loose.
MacDailyNews Take: If guilty, sentence each of them to the max.
There are not sacred and profane things, places, and moments. There are only sacred and desecrated things, places, and moments – and it is we alone who desecrate them by our blindness and lack of reverence. It is one sacred universe, and we are all a part of it.
— Richard Rohr
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https://macdailynews.com/2023/06/29/apple-airtag-tracks-down-gravesite-thieves-who-stole-62000-worth-of-bronze-vases/
Apple assembler Foxconn ramps up ‘iPhone City’ hiring in China ahead of iPhone 15
Wednesday, June 28, 2023 2:27 pm
According to local reports and labor agents, Apple assembler Foxconn, which operates the world’s largest iPhone factory in the central Chinese city of Zhengzhou, has ramped up hiring ahead of new product launches, including the iPhone 15 family of smartphones, expected this autumn.
Foxconn’s Zhengzhou plant is offering a bonus of 8,000 yuan (US$1,105) for former employees who return regularly to the assembly line for peak seasons, according to a job posting on Monday by the company’s Product Enclosure Business Group unit, which is responsible for producing mechanical parts for the iPhone.
Referrals are also encouraged, with the company offering a 1,000 yuan reward to staff for each new worker that they successfully recommend. Foxconn is also offering a one-off 7,000 yuan bonus to people who join during the peak season under referrals and stay for at least four months.
The factory, which saw production disrupted last year during China’s strict Covid-19 controls, currently has high demand for workers, with recruiting agencies in Zhengzhou “building a talent pool” to prepare for the upcoming peak season, a local recruiter said. The recruiter, who gave her surname as Zhao, is hiring both permanent employees as well as short-term workers at an hourly rate of 21.5 yuan.
Foxconn’s plant in the southern Chinese city of Shenzhen is also offering a bonus of up to 6,980 yuan for new hires, according to recruitment posts on Tuesday.
MacDailyNews Take: It’s that time of year again.
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Apple makes a big move on Twitter and Elon Musk promotes it
Wednesday, June 28, 2023 12:30 pm
Apple on Tuesday posted an entire episode of “Silo” on Twitter and it was reposted by Twitter owner Elon Musk to his 145.3 million followers. “Watch the entire first episode on this platform. Great move by Apple! Note, you can Airplay from your iPhone to TV to watch on a big screen,” Musk wrote.
Popular YouTuber MrBeast, himself with 21.2 million Twitter followers, replied to Musk’s tweet, “Really is a smart move, I never would have heard of this show and now I’m watching episode 1 and invested lol.”
You can watch the first episode of “Silo” below or watch it anywhere you have the Apple’s TV app on iPhone, iPad, Apple TV, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com.
Apple TV+ earlier this month announced a season two renewal for “Silo,” the acclaimed, world-building drama based on Hugh Howey’s New York Times bestselling trilogy of dystopian novels. Created by Emmy-nominated screenwriter Graham Yost, who also serves as showrunner, and starring and executive produced by Rebecca Ferguson, the eighth episode of “Silo” premieres this Friday on Apple TV+.
Since its global premiere on May 5, “Silo” was quickly hailed as a “riveting and equally star-studded,” “must-watch” series and “simply transcendent sci-fi TV.” Week-to-week, the series drives growing viewership and, in addition to quickly reaching Certified Fresh status on Rotten Tomatoes, has landed acclaim for its “rich and compelling” world-building elements, as well as the “incredible” performance by Ferguson, who “brings an understated gravitas” to the lead role.
“It has been enormously fulfilling to see the engrossing, atmospheric and beautifully crafted sci-fi epic ‘Silo’ quickly become Apple’s number one drama series,” said Matt Cherniss, head of programming for Apple TV+. “As audiences around the world have become gripped by the mysteries and conspiracies buried within this fascinating subterranean world, viewership only continues to climb, and we are so excited for more secrets of the silo to be revealed in season two.”
“We cannot wait for audiences around the world to immerse themselves in the epic world we have created to bring Hugh Howey’s novels to life,” said Yost. “Apple has believed in our vision from day one and it’s an honor to have the opportunity to dig deeper into this story and peel back the layers to our characters in the silo.”
“Silo” is the story of the last ten thousand people on earth, their mile-deep home protecting them from the toxic and deadly world outside. However, no one knows when or why the silo was built and any who try to find out face fatal consequences. Ferguson stars as Juliette, an engineer, who seeks answers about a loved one’s murder and tumbles onto a mystery that goes far deeper than she could have ever imagined, leading her to discover that if the lies don’t kill you, the truth will.
The ensemble cast starring alongside Ferguson includes Common (“The Chi”), Emmy nominee Harriet Walter (“Succession”), Chinaza Uche (“Dickinson”), Avi Nash (“The Walking Dead”), Critics Choice Award and NAACP winner David Oyelowo (“Selma”), Emmy nominee Rashida Jones (“Parks and Recreation”) and Academy Award winner Tim Robbins (“Mystic River”).
“Silo” is produced for Apple TV+ by AMC Studios and based on the novels by Hugh Howey. The series is executive produced by Yost, Howey and Ferguson, alongside Academy Award nominee Morten Tyldum (“Defending Jacob,” “The Imitation Game”) who also directs the first three episodes, Nina Jack, Fred Golan, Rémi Aubuchon and Ingrid Escajeda.
Apple TV+ offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all your favorite screens. After its launch on November 1, 2019, Apple TV+ became the first all original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries, and series have been honored with 367 wins and 1,469 award nominations and counting, including Oscar Best Picture winner “CODA.”
MacDailyNews Note: Here’s the free episode of “Silo” from Apple TV:
https://macdailynews.com/2023/06/28/apple-makes-a-big-move-on-twitter-and-elon-musk-promotes-it/
U.S. judge rejects Apple’s bid to toss lawsuit over China sales comment by CEO Cook
Tuesday, June 27, 2023 12:12 pm
A U.S. judge has rejected Apple’s bid to toss a class-action lawsuit that accuses CEO Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China.
Jonathan Stempel for Reuters:
U.S. District Judge Yvonne Gonzalez Rogers’ decision late Monday night clears the way for shareholders led by a British pension fund to sue over a one-day plunge that wiped out $74 billion of Apple’s market value.
The lawsuit stemmed from Cook’s comment on a Nov. 1, 2018, analyst call that while Apple faced sales pressure in markets such as Brazil, India, Russia and Turkey, where currencies had weakened, “I would not put China in that category.”
Apple told suppliers a few days later to curb production, and on Jan. 2, 2019, unexpectedly slashed its quarterly revenue forecast by up to $9 billion, blaming U.S.-China trade tensions.
The lowered revenue forecast was Apple’s first since the iPhone’s launch in 2007, and the Cupertino, California-based company’s shares fell 10% the next day.
Rogers, based in Oakland, California, said jurors could reasonably infer that Cook was discussing Apple’s sales outlook in China, not past performance or the impact of currency changes… fall. “A reasonable jury could find that failure to disclose these risks caused plaintiff’s harm,” Rogers wrote.
MacDailyNews Note: The case is 19-2033 – IN RE APPLE INC. SECURITIES LITIGATION, United States District Court Northern District of California, 9th Circuit.
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https://macdailynews.com/2023/06/27/u-s-judge-rejects-apples-bid-to-toss-lawsuit-over-china-sales-comment-by-ceo-cook/
New Hampshire man pleads guilty to transporting stolen Apple products worth $2 million
Monday, June 26, 2023 2:55 pm
A Nashua, New Hampshire man has pleaded guilty to transporting stolen Apple products in federal court. Guangwei “William” Wu, 30, pleaded guilty to the interstate transportation of stolen property on June 1, 2023. He is scheduled to be sentenced on October 4, 2023.
Wu owned and operated a transshipping company in Manchester called Hai Xing Qiao. In the fall of 2022, a victim company purchased Apple products, including iPads, iPhones, Apple Watches, and MacBooks. They hired Hai Xing Qiao to forward the products to Hong Kong. However, another Hong Kong-based company, Yongfu Huo, paid Wu a bribe of over $700,000 to have the products shipped to them instead.
To cover up his tracks, Wu claimed that law enforcement had seized the Apple products. He sent the victim company a false document titled “Disclaimer of Ownership” purportedly issued by the U.S. Postal Inspection Service. Wu also forged the signature of a federal agent on the document.
The charging statute provides a sentence of no greater than 10 years in prison, 3 years of supervised release, a fine of $250,000, and restitution. As part of the plea agreement, Wu is repaying $2 million in restitution to the victim.
The Federal Bureau of Investigation and U.S. Postal Inspection Service led the investigation. Assistant U.S. Attorney Alexander S. Chen is prosecuting the case.
Key Takeaways
• A Nashua man pleaded guilty to transporting stolen Apple products in federal court.
• The man owned and operated a transshipping company that was supposed to forward the products to Hong Kong.
• However, he accepted a bribe to have the products shipped to another company in Hong Kong.
• To cover up his tracks, he sent the victim company a false document claiming that law enforcement had seized the products.
• He is scheduled to be sentenced on October 4, 2023.
Sentence
The charging statute provides a sentence of no greater than 10 years in prison, 3 years of supervised release, a fine of $250,000, and restitution. As part of the plea agreement, Wu is repaying $2 million in restitution to the victim.
Investigation
The Federal Bureau of Investigation and U.S. Postal Inspection Service led the investigation. Assistant U.S. Attorney Alexander S. Chen is prosecuting the case.
MacDailyNews Take: Tsk, tsk.
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California hiker saved thanks to Emergency SOS via satellite on her iPhone 14
Monday, June 26, 2023 3:23 pm
A woman hiking in Trail Canyon Falls in the Angelos National Forest in California has been saved thanks to Apple’s Emergency SOS via satellite service on her iPhone 14.
Leanne Suter for KABC:
A woman who suffered a broken leg while hiking in Tujunga was able to call 911 despite not having cell phone service due to a new and innovative feature on the iPhone 14.
Juana Reyes was hiking with friends in a remote part of Trail Canyon Falls in the Angelos National Forest when the trail collapsed underneath her.
“We tried to get a hold of 911 but there was no service on our phones,” said Reyes in an interview with Eyewitness News. “Thankfully, my phone has that SOS satellite feature that was able to connect to… I’m assuming satellites.”
The feature Reyes is referring to is the iPhone 14’s “Emergency SOS via satellite” feature.
As the name suggests, you can use the feature to text emergency services when you’re out of cell and Wi-Fi coverage. You can also use the Find My app to share your location via satellite.
MacDailyNews Note: Just last month, ten missing hikers were rescued from a California canyon thanks to Apple’s Emergency SOS feature.
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https://macdailynews.com/2023/06/26/california-hiker-saved-thanks-to-emergency-sos-via-satellite-on-her-iphone-14/
Apple in talks to launch Apple Pay and Apple Card in India
Friday, June 23, 2023 8:57 am
Apple is reportedly in talks with banks and regulators in India to launch Apple Pay and its credit card, Apple Card. The company’s CEO, Tim Cook, met with HDFC Bank CEO and MD Sashidhar Jagdishan during his trip to India in April.
Two sources familiar with the matter said that Apple is looking for a partner bank in India to issue Apple Card. The company is also seeking regulatory approval from the Reserve Bank of India (RBI).
Apple Card is a co-branded credit card issued by Goldman Sachs and Apple. It was launched in the United States in 2019. The card offers a number of features that are designed to appeal to consumers, including no annual fee, no late fees, and daily cash rewards.
If Apple is able to launch Apple Card in India, it would be a major coup for the company. India is a huge market with a growing middle class. Apple Card could appeal to a lot of Indian consumers who are looking for a credit card with a good rewards program and no annual fee.
However, there are still a number of challenges that Apple will need to overcome before it can launch Apple Card in India. The company will need to find a partner bank that is willing to work with it, and it will need to get regulatory approval from the RBI.
Anand J for Moneycontrol:
The technology giant is also holding discussions with the National Payments Corporation of India (NPCI) to possibly launch Apple Pay in the country, a third source told Moneycontrol. It is not clear whether these discussions are regarding its credit card being powered by NPCI’s Rupay platform or whether this is for Unified Payments Interface (UPI). The advantage of launching a Rupay Credit Card is that it can be linked to UPI as well. In India, only banks are allowed to launch credit cards. UPI allows customers to make seamless and fast payments by scanning QR codes through mobile phones.
The Cupertino-based tech giant had also held discussions with the Reserve Bank of India (RBI) on the modalities of the card, Moneycontrol has learned. According to one of the sources mentioned above, the regulator has asked Apple to follow the regular procedure for co-branded credit cards, without offering any special consideration for the company.
According to the sources, Apple is looking to launch its Apple Card, a co-branded credit card with HDFC Bank in the country. The discussions are in the early stages and a decision has not been arrived at, the sources added. The nature of the discussion, as well as when Apple intends to launch this in India, could not be determined.
Apple was looking at significant deviations from the standard co-branded credit card model in India, one of the sources said. It is not clear whether the company is willing to make those compromises in order to launch the card in India, the source added…
Unlike in the US, Apple cannot bring a plain card with just Apple’s logo and the customer’s name on the front. The regulations will require that Apple takes the back seat and the bank will take the driver’s seat. The Goldman Sachs name and Mastercard also appear on the backside of the Apple Card in the US. The card also does not have any card number printed on it. These are not liberties that Apple can take in India as per the current co-branded credit card regulations in India.
MacDailyNews Take: While it might not be as pretty or secure* (due to outmoded government regulations), Apple Card will eventually launch in India, as will Apple Pay.
*The physical Apple Card is a laser-etched titanium card with no visible number anywhere. With no card number, CVV security code, expiration date, or signature on the card, Apple Card is more secure than any other physical credit card. All this information is easily accessible in Wallet for use in apps and on websites.
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https://macdailynews.com/2023/06/23/apple-in-talks-to-launch-apple-pay-and-apple-card-in-india/
Apple is nearly 50% of Berkshire Hathaway’s portfolio; Warren Buffett: ‘Apple is a better business than any we own’
Friday, June 23, 2023 1:32 pm
Warren Buffett loves to concentrate his Berkshire Hathaway’s invested capital in a small number of top ideas and, after buying back Berkshire Hathaway stock, his top idea is the world’s most valuable company, Apple, which accounts for close to 48% of Berkshire’s invested assets.
Sean Williams for The Motley Fool:
As of the closing bell on June 16, 2023, the 915,560,382 shares of Apple stock held by Berkshire Hathaway equates to a market value of $169.3 billion. This works out to 47.8% of the invested assets of Berkshire’s investment portfolio and is nearly 40 percentage points higher than the second-largest holding by portfolio weighting, Bank of America (8.5%).
The Oracle of Omaha and his team are up big on their Apple stake. Based on estimates from Form 13F aggregator WhaleWisdom.com, the more than 915 million Apple shares owned by Berkshire Hathaway have a cost basis of $39.62. In other words, Buffett and his investing lieutenants (Ted Weschler and Todd Combs) have turned an approximate $36.3 billion investment into $169.3 billion, not including dividends paid, over seven years. Not too shabby!
Buffett hasn’t been shy about his feelings for Apple. During Berkshire’s annual meeting, he referred to the tech giant as “a better business than any we own.” That’s a powerful statement considering Berkshire holds stakes in around four dozen securities and has acquired roughly five dozen companies over the years.
MacDailyNews Take: Investor’s could do worse — much worse — by not simply following Buffet’s investments and advice.
Those who have iron stomachs in the face of risk, year after year, can make multiple millions of dollars with relatively very little invested, if they go “all in” on the right company long term.
Diversification is… a protection against ignorance. — Warren Buffett
On December 20, 1996, when Apple announced the acquisition of NeXT and the return of Steve Jobs, an Apple share sold for 18-cents.*
In April 2003, Apple shares sold for 20-cents each.* Even as recently as January 07, 2019, Apple closed at just $35.64*!
Anyone who invested in AAPL, even in later years, without the loss-making hedges in the name of diversification, sports an incredibly better annualized return than, for example, “legendary investor” Peter Lynch’s 29.2% (which is rather laughably weak when viewed by long-term, mainly AAPL investors).
The actual “legendary investors” would be those who began buying AAPL upon the return of Steve Jobs, never stopped buying AAPL year after year, reinvested dividends in AAPL every quarter, never wasted money on diversification in the name of “mitigating risk,” but who instead went “all in” on AAPL and never sold a share.
Diversification, in the absence of investing perfection (which does not exist), also does an excellent job of mitigating big, life-changing profits.
*Prices adjusted for splits and dividend distributions.
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https://macdailynews.com/2023/06/23/apple-is-nearly-50-of-berkshire-hathaways-portfolio-warren-buffett-apple-is-a-better-business-than-any-we-own/
Apple fixes zero-day security flaws in iOS, macOS, watchOS, and more
Thursday, June 22, 2023 11:53 am
With new operating system updates released on Wednesday, Apple has fixed a pair of serious zero-day security bugs that the company says “may have been actively exploited.”
Andrew Cunningham for Ars Technica:
One of the vulnerabilities, CVE-2023-32434, is a kernel-level flaw that can allow apps to “execute arbitrary code with kernel privileges.” The other, a WebKit bug labeled CVE-2023-32439, can allow the execution of arbitrary code after processing “maliciously crafted web content.” The iOS and iPadOS 16.5.1 updates also fix a non-security bug “that prevents charging with the Lightning to USB 3 Camera Adapter.”
The updates aren’t just coming to iPhones, iPads, and Macs running the latest operating systems. Updates fixing the same bugs have been released for iOS and iPadOS 15, plus macOS versions 11 and 12 (via both macOS and Safari updates). Apple also released an update fixing the kernel bug for watchOS 8, which was the last version of the OS that supported the Apple Watch Series 3 (plus newer watches paired to older iPhones that can’t update to iOS 16). Updates for older versions of watchOS are exceedingly rare, highlighting the severity of any kernel-level security flaw.
The iOS and iPadOS 15.7.7 updates also fix a third closely related WebKit bug that allows remote code execution when processing web content, CVE-2023-32435.
MacDailyNews Take: If you haven’t upgraded already, update your various Apple OSes ASAP.
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Why Apple stock remains a reliable buy
Wednesday, June 21, 2023 11:05 am
Apple’s stock price has risen 42% since January 1st, as it benefited from a recovering tech market and the company’s venture into spatial computing with its Vision Pro. One of the most promising parts of Apple’s business remains its growing services segment.
Dani Cook for The Motley Fool:
even without the growth prospects of the Vision Pro, Apple’s stock is too good to pass up. The company is home to leading market shares in multiple areas of consumer tech. Meanwhile, its immense brand loyalty with shoppers often leads to success in nearly any new market it enters.
Apple users seem intent on sticking with the company no matter what upgrades its competitors unveil. As a result, now is an excellent time to consider investing in this tech giant before its stock climbs any higher.
Here are three things about Apple that smart investors know.
1. It could take years for the Vision Pro to boost earnings
2. A booming services business: The good news for those concerned about the short-term prospects of the Vision Pro is that Apple’s growing services business is gradually allowing it to lean less on product sales. Digital subscription platforms like Apple TV+, Music, Fitness+, News+, and more have seen the company’s services business become its second-highest earning segment.
3. A better value than its competitors: Despite being home to the world’s highest market cap at $2.9 trillion, Apple’s stock is still a better value than most of its competitors… The company has the lowest price-to-earnings (P/E) ratio among fellow tech giants like Amazon, Microsoft, and Meta.
MacDailyNews Take: Apple stock remains significantly undervalued.
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Breaking BlackRock to File for Bitcoin ETF in the United States
1 min
By Bary Rahma
15 June 2023, 14:47 GMT+0000
Updated by Michael Washburn
15 June 2023, 14:51 GMT+0000
In Brief
BlackRock, the world's largest asset manager, is preparing to file a groundbreaking Bitcoin ETF application, in partnership with Coinbase.
The initiative underlines BlackRock's commitment to incorporating cryptocurrencies into mainstream financial systems, despite the SEC's historical reticence.
The move signals a pivotal shift in financial investment dynamics, as the boundaries between traditional finance and digital currencies continue to blur.
In an unprecedented move, BlackRock, the world’s preeminent asset manager, is nearing the submission of a groundbreaking Bitcoin exchange-traded fund (ETF) application in the United States.
According to inside sources, BlackRock will collaborate with Coinbase, the prominent cryptocurrency exchange, using its Custody for the ETF and employing the exchange’s spot market data for pricing.
BlackRock to File for United States’ First Bitcoin ETF
The introduction of a Bitcoin ETF from BlackRock signals a momentous leap in the cryptocurrency’s institutional acceptance. This high-stakes endeavor could potentially recalibrate the financial landscape. It aims to offer investors the prospect of unprecedented access to the volatile yet promising cryptocurrency market.
BlackRock’s collaborative efforts with Coinbase materialized last year, spearheading a comprehensive initiative to make cryptocurrencies directly accessible to institutional investors. BlackRock ventures into a realm fraught with regulatory uncertainties in this ambitious enterprise. The US Securities and Exchange Commission (SEC) has previously rejected every application for a spot Bitcoin ETF.
While the nature of the ETF — spot or futures — remains uncertain, the BlackRock initiative underscores a clear commitment to integrating crypto into mainstream financial systems. The SEC has previously approved several Bitcoin futures ETFs for trading, laying a potential path for BlackRock’s endeavor.
BlackRock’s venture into Bitcoin ETFs is a testament to the growing popularity of cryptocurrencies. It is a signal of the shifting sands of finance and investment. Consequently, setting a precedent could redefine the dynamics of the financial world.
The boundaries between traditional finance and digital currencies are redrawn as the world watches, redefining our understanding of the global investment landscape.
This is a developing story…
https://beincrypto.com/blackrock-bitcoin-etf-us/
Crypto This Thursday: BlackRock Plans to Launch BTC ETF, New York Banned CoinEx, and More
Fernanda T
Latest News
June 15 2023 09:59AM
BlackRock Plans to Launch Bitcoin ETF Amid Regulatory Investigations
BlackRock (NYSE:BLK) is close to applying for a bitcoin ETF, using offline storage solution Coinbase Custody and market data from the cryptocurrency exchange, according to CoinDesk. This decision comes amid regulatory investigations into the cryptocurrency industry in the US.
CoinEx banned from operating in New York and has funds seized
CoinEx, a Hong Kong-based cryptocurrency exchange, was banned from operating in New York and had more than $1.7 million in funds seized for allegedly failing to register as a securities and commodities broker. The company has agreed to repay more than $1.1 million to New York investors and pay fines of more than $600,000 to the state. Furthermore, CoinEx must implement measures to block access to New York users and is prohibited from creating new accounts for US customers. “ Today’s settlement should serve as a warning to cryptocurrency companies that there are heavy consequences for ignoring New York laws. My office will continue to crack down on cryptocurrency companies that blatantly flout the law, mislead investors, and put New Yorkers at risk ,” noted Attorney General Letitia James.
Coinbase strengthens its position with note buybacks and expanding self-custody partnership
Coinbase (NASDAQ:COIN) will redeem $64.5 million worth of 0.50% convertible senior notes at a 29% discount. The transaction, led by Chief Financial Officer Alesia Haas, is seen as opportunistic. Investors have concerns after SEC allegations for operating an unregistered exchange and selling unregistered securities. “ The buybacks are expected to close on or around June 20, 2023, subject to satisfaction of customary closing conditions. Following these closings, principal amount of approximately $1.373 billion of the Notes will remain outstanding”, wrote the exchange. In other news, Coinbase has announced a partnership with self-custodial bitcoin wallet app Bitkey, allowing customers to easily buy bitcoin and keep control of their private keys. The feature will be available to users in the US, Canada, UK, Brazil and Australia, with a public launch expected later this year. “ Partners play a key role in bringing self-custody to a wider group of people around the world, and we are incredibly proud to have partnered with leading companies like Coinbase to make self-custody safe and easy to use,” said the Bitkey business lead Lindsey Grossman in the statement.
Startup ResearchHub raises $5 million to reward scientific expertise
Startup ResearchHub, led by Coinbase CEO Brian Armstrong, has raised $5 million in Series A funding. The platform allows users to be rewarded with cryptocurrencies for contributing scientific knowledge. They seek to create a credible, evidence-based reward system to drive forward scientific research. “ Over time, we hope to iterate toward a ResearchCoin reward structure that funnels resources to the best and brightest minds at ResearchHub in a reliable, evidence-based way ”, said a ResearchHub blog post.
https://ih.advfn.com/market-news/article/1626/crypto-this-thursday-blackrock-plans-to-launch-btc-etf-new-york-banned-coinex-and-more
Apple Battersea retail store opens in London
Thursday, June 15, 2023 3:03 pm
Apple’s brand-new London store, Apple Battersea, is now open at the iconic and newly redeveloped Battersea Power Station.
David Phelan for Forbes:
There are now 40 Apple Stores in the U.K. The first was in London’s Regent Street, and this one is in south London, in the redeveloped Battersea Power Station.
It opened at 4PM London time today.
Battersea Power Station is now headquarters for Apple’s U.K. staff as well, in five floors of spectacularly designed offices in the building. The retail store sits inside as well, and has the distinctive inviting glass frontage Apple favors.
[T]here are live performances outside the store from today through Sunday, with local artists including JGrrey and Kwaye.
MacDailyNews Take: Congrats, London!
Apple Battersea’s hours are Monday – Saturday: 10:00 – 21:00; Sunday: 12:00 – 18:00
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What’s the real purpose of the Apple Vision Pro spatial computer?
Wednesday, June 14, 2023 10:10 am
Apple this month unveiled Apple Vision Pro, a revolutionary spatial computer that seamlessly blends digital content with the physical world, while allowing users to stay present and connected to others. Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by the most natural and intuitive inputs possible — a user’s eyes, hands, and voice.
Featuring visionOS, the world’s first spatial operating system, Vision Pro lets users interact with digital content in a way that feels like it is physically present in their space. The breakthrough design of Vision Pro features an ultra-high-resolution display system that packs 23 million pixels across two displays, and custom Apple silicon in a unique dual-chip design to ensure every experience feels like it’s taking place in front of the user’s eyes in real time.
Joshua Gans and Abhishek Nagaraj for Harvard Business Review:
The Vision Pro is a computer that is worn on your face, but the novel aspect is how you use it. Rather than view the computer’s output through a physical screen, that output is projected directly into your eyes with two very small but high-resolution displays a very small distance in front of you. Rather than control the computer through a keyboard, mouse, or touch screen, the primary user interface is through eye tracking and gestures.
Just as they removed the stylus for screens when they launched the iPhone, Apple requires no physical controller to use the computer. The computer senses what you are interested in interacting with by watching your eye movement and then looks at your hands to determine what you want to do.
Apple has termed this new device a spatial computer. The name is apt, because the device can use any physical space around you as a canvas to display digital outputs. There is no need for a desk (or lap) to place the device, and there are no limits on the size of the perceived viewing area. That means you could technically sit in a small space, like an airplane seat, and watch a cinema-sized movie.
The Vision Pro can display 3D objects in your current space or even transport you to new spaces. Apple, however, barely mentioned the terms AR and VR during their announcement. In doing so, they drew a line people have not drawn before. This is no AR or VR device or technology. The technology is a spatial computer, and if there is a role for AR and VR, it is in applications that run on a spatial computer.
MacDailyNews Take: Bottom line: It’s now (or soon will be) in the hands of developers and, like the iPhone, iPad, and Apple Watch before it, the Apple Vision Pro will become something that is not yet fully imagined.
SteveJack for MacDailyNews, June 6, 2023:
Just as iPhone is a Mac in your hand, an iPad is a Mac in your hands, and Apple Watch is a Mac on your wrist — iOS, iPadOS, and watchOS are, of course, all based on based on Darwin (BSD), otherwise known at various times in history as Mac OS X, OS X, and, currently macOS — Apple’s Vision Pro is a Mac on your face (visionOS is also based on macOS). Really, Apple’s Vision Pro is a 3D Mac on your face!
One of Apple’s biggest advancements with Vision Pro is eliminating handheld controllers and, in doing so, making every so-called rival’s VR headset look like a horse and buggy in comparison, but the main thing is that Vision Pro is not a “VR headset” or “AR headset” or whatever. It’s a computer. A “spatial computer,” to be precise.
Computing in 3D space is how we should have been computing all along, but the technology wasn’t ready for several decades… Now, we can finally use our Macs naturally, with no 2D displays confining us!
So, don’t let the the Vision Pro’s ancillary features – watching giant 3D movies, playing giant 3D games, taking 3D photos and videos, etc. – drown out the fact that for just $3,500, you can own and use the world’s first spatial computer – a Mac on your face! – that allows you to compute anywhere and everywhere…
Apple’s Vision Pro is a tremendous achievement and a very strong start to a whole new platform. I can’t wait to see how far and fast it will develop!
Related
Apple unveils Apple Vision Pro, a revolutionary spatial computer
Monday, June 5, 2023
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How Apple could bring down the cost of future Vision headsets
Monday, June 12, 2023
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MIT computer scientist: Apple Vision Pro could change the world
Friday, June 9, 2023
In "Opinion"
https://macdailynews.com/2023/06/14/whats-the-real-purpose-of-the-apple-vision-pro-spatial-computer/
Thank you! I appreciate you sharing your timely experience with transferring $$ to Coinbase and your recommendation for getting in contact with a live person...my problem is resolved! Hey, I gave you a follow, so you should be up to 12!
Apple again closes in on $3 trillion market valuation
Tuesday, June 13, 2023 5:19 pm
On Monday, January 3, 2022, Apple became the first company in world history to hit the $3 trillion market valuation milestone, but it quickly fell back from that mark. Now, after a solid run in 2023, AAPL is again approaching the $3 trillion mark.
Angela Palumbo for Barron’s:
Apple is on track to become the first company with a $3 trillion valuation, but the journey there won’t be easy.
MacDailyNews Take: As stated above, Apple already became the first company with a $3 trillion valuation on January 3, 2022.
Apple stock has surged 42% this year and the company has a market capitalization of $2.89 trillion. The shares would have to close above $190.73 each to hit the record $3 trillion market cap, according to Dow Jones Market Data.
MacDailyNews Take: That’s (incorrectly) assuming there will be no buybacks which, of course are routinely ongoing as part of Apple’s massive share repurchasing program. So, with (share price) * (outstanding shares) = (market value), the price will have to exceed $190.73 by some measure to account for the amount of shares Apple repurchases and retires.
Moving ahead, there are several catalysts that can help drive Apple shares higher and push the market cap to $3 trillion.
In a research note on June 7, Wedbush analyst Dan Ives—who rates the stock Outperform with a $220 price target—said he believes about 250 million iPhones haven’t been upgraded in more than four years, which “sets Apple up for a major installed-base upgrade cycle heading into this anniversary 15-year release.” The iPhone is the largest revenue driver for Apple, and successful sales of the smartphone would keep investors confident in the tech giant’s performance…
Apple is also trading at 28.6 times forward earnings, which is above its historic average of 22.7 times.
MacDailyNews Take: Apple hitting the $3 trillion and beyond, well beyond, is just a matter of time.
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Wednesday, January 3, 2018
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https://macdailynews.com/2023/06/13/apple-again-closes-in-on-3-trillion-market-valuation/
I agree with you that quality products should be Apples main priority! Yes, Steve Jobs is definitely missed in running and leading Apple...
Below seems to be Apple's priority under Tim Cook
Apple’s Racial Equity and Justice Initiative surpasses $200 million in investments, doubling initial 2020 commitment
June 14 2023 - 06:30AM
Business Wire
“Building a more just and equitable world is urgent work that demands collaboration, commitment, and a common sense of purpose,” said Tim Cook, Apple’s CEO. “We are proud to partner with many extraordinary organizations that are dedicated to addressing injustice and eliminating barriers to opportunity. And we’ll continue to lead with our values as we expand our efforts to create opportunities, lift up communities, and help build a better future for all.”
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/91328374/apple-s-racial-equity-and-justice-initiative-surp
I see that you are a moderator on this stock board ( i help moderate the Apple stock board) and appear to be well informed about Coinbase, do you happen to know if the phone number listed in the SEC filing below is accurate for contacting their customer service people? I have had a Coinbase account for a few years and thought that it used to be listed on their website under contact us, when I logged in...yesterday i tried the 1-888-908-7930 from multiple phones (cell & landline) for a few hours in the morning and could not get connected, as if the phone was no longer in service, which would not be good. For a few days, they have not allowed me to withdraw even a couple hundred dollars to transfer to my long time bank, which is unusual, as it has always been a quick seamless process!
Coinbase Global, Inc.
SEC File Number
001-40289
Address of Issuer
55 Hudson Yards, 550 West 34th Street
4th Floor
New York
NEW YORK
10001
Phone
1-888-908-7930
Name of Person for Whose Account the Securities are To Be Sold
Brian Armstrong
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/91249143/report-of-proposed-sale-of-securities-144
UBS lowers Apple stock to ‘neutral’ from ‘buy,’ raises target price to $190 from $180
Tuesday, June 13, 2023 9:12 am
UBS Group AG in a note to clients on Monday lowered its Apple stock rating to “neutral” from “buy,” while raising its Apple target price to $190 from $180.
Subrat Patnaik for Bloomberg News:
Even as Apple Inc.’s shares have powered their way to a fresh record high, worries over cooling demand for iPhones and sputtering growth at its services business have left the biggest US company with the fewest bullish analyst ratings in more than two years.
UBS Group AG is the latest broker to take a step back, cutting the technology behemoth this week to neutral from buy. That leaves Apple with buy ratings from 67% of the analysts who follow the company, the lowest since late 2020 and the worst among megacap peers, according to data compiled by Bloomberg.
iPhone and Mac demand could come under pressure in the second half of the year, while growth at its services unit —- which includes the app store, Apple Music, Apple TV and other subscription products — is slowing, UBS’s David Vogt said in a report dated Monday.
While he nudged his price target on the stock higher to $190 from $180, this implies only a 3% gain from Monday’s close.
“We do not believe Apple shares offer a compelling risk/reward particularly in light of soft iPhone, PC, and app store fundamentals over the next 6-12 months,” Vogt wrote.
MacDailyNews Note: On August 31, 2020, when Apple hit a new all-time intraday high of $131.00, its P/E Ratio stood at 39.15. Apple’s PE Ratio, at a new all-time closing high of $183.79 on Monday, stands at 31.15.
https://macdailynews.com/2023/06/13/ubs-lowers-apple-stock-to-neutral-from-buy-raises-target-price-to-190-from-180/
Sony can only make enough displays for 450K Apple Vision Pro units per year – report
Monday, June 12, 2023 4:02 pm
Sony, which is supplying the panel used for the Apple Vision Pro spatial computer, has a capacity of 900,000 units of these panels per year, TheElec reports Monday.
Gijong Lee for The Elec:
Sony manufactures the OLED on silicon, or OLEDoS, which uses silicon as a substrate to make a high-resolution micro OLED display panel, being used by Cupertino for its new MR device unveiled last week at WWDC 2023.
Sources said Sony’s capacity means Apple will only be able to ship hundreds of thousands of Vision Pro at most next year.
At most, the Japanese company can supply between 100,000 to 200,000 units of OLEDoS per quarter.
The point to watch will be which new supplier may enter Apple’s supply chain for the device when the second generation version of it launches.
Cupertino had asked Sony to expand its OLEDoS production capacity but the Japanese company refused, sources said.
So for Apple to expand the shipment of Vision Pro, it will need new suppliers of OLEDoS.
MacDailyNews Take: If true, when Apple Vision Pro pre-orders become available, get yours in early or be prepared to wait for quite awhile. This has all the making of the original Apple Watch launch, which was a debacle in terms of demand-supply imbalance.
https://macdailynews.com/2023/06/12/sony-can-only-make-enough-displays-for-450k-apple-vision-pro-units-per-year-report/
How Apple could bring down the cost of future Vision headsets
Monday, June 12, 2023 9:14 am
Apple’s forthcoming Apple Vision Pro is a revolutionary spatial computer, running visionOS, that seamlessly blends digital content with the physical world, while allowing users to stay present and connected to others. Bloomberg News’ Mark Gurman this week looks at how Apple can bring down costs in future visionOS spatial computers.
Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by the most natural and intuitive inputs possible — a user’s eyes, hands, and voice. Featuring visionOS, the world’s first spatial operating system, Vision Pro lets users interact with digital content in a way that feels like it is physically present in their space. The breakthrough design of Vision Pro features an ultra-high-resolution display system that packs 23 million pixels across two displays, and custom Apple silicon in a unique dual-chip design to ensure every experience feels like it’s taking place in front of the user’s eyes in real time.
Mark Gurman for Bloomberg News:
Given how expensive the technology is in the Vision Pro, it’s important to take a look at how Apple could bring down the cost. And it won’t be an easy task to pull that off while making money: the $3,499 price of the Vision Pro is at or near the cost to make it.
MacDailyNews Take: $3,499 is not expensive for a professional computer that provides access to a whole new platform.
The three priciest components in the Vision Pro are its camera and sensor array, its dual Apple silicon chips and the twin 4K micro-OLED virtual reality displays. For a non-pro model, Apple could probably use lower quality screens, either an iPhone-grade chip or an older Mac chip and fewer cameras for lesser performance.
Apple could also probably get away with a simpler headband design, require AirPods for spatial audio instead of the strap with speakers in the Vision Pro, move to a physical versus automatic IPD — distance between eye pupils — adjustment and remove features like the 3D camera. Combined with a more refined production process, economies of scale and a cheaper frame, I’d imagine Apple could knock several hundred dollars off the price.
But there are a few areas I believe Apple will not compromise on in a cheaper Apple Vision. The external screen, known as EyeSight, to show a wearer’s eyes, as well as the eye- and hand-tracking system, are as core to the Apple Vision as a touchscreen is to an iPhone. I would expect a cheaper model to keep those features.
Apple is currently planning a release of the cheaper model for as early as the end of 2025, meaning it won’t debut for about two years after the original Vision Pro. At the same time, Apple is already working on a second-generation Vision Pro with a faster processor, indicating it’s intent on a two-product strategy for the device in line with the standard iPhone and iPhone Pro models.
MacDailyNews Take: Prices will come down. Apple Vision 2 (no Pro), Apple Vision SE, and other lower-priced units will naturally come along, allowing the mass market to take up the future of computing that Vision Pro owners will be enjoying as soon as early next year.
https://macdailynews.com/2023/06/12/how-apple-could-bring-down-the-cost-of-future-vision-headsets/
AirTags used to uncover fraud in Turkey relief donations
William Gallagher | Jun 09, 2023
AirTags and Find My have revealed how items donated by Mexicans for earthquake relief in Turkey were instead resold in Mexico City markets.
In February, Apple's AirTags were used to uncover how Singapore's government was exporting and reselling sneakers that it officially collected for recycling. Now in Mexico, journalist Pamela Cerdeira has used AirTags to prove government mishandling of earthquake relief donations.
The donations were intended to help Turkey recover from its devastating earthquakes. But Cerdeira donated two items with AirTags in them, to see whether they even got to Turkey.
Neither of them did. Cerdeira sent rice and a pack of toilet rolls, but not only did they fail to reach their intended recipients, they never left Mexico.
Cerdeira monitored the progress of the items through the Find My app. Ultimately, she saw that in reality the two had been sent to separate markets across the city.
She wasn't able to get access to where her rice package appears to be, but she did get to the toilet rolls — and used Precision Finding to confirm it was her donation.
Cerdeira has documented the case in a Spanish-language YouTube video called (in translation), "The Business of Tragedy: the groceries that never reached Turkey."
An official, Oscar Gutierrez Camacho, told Cerdeira that the government had nothing to do with the items being diverted and resold. "I have nothing to do with them [the markets], but we [will] gladly investigate," he said (again in translation.)
https://appleinsider.com/articles/23/06/09/airtags-used-to-uncover-fraud-in-turkey-relief-donations?utm_medium=rss
Meta’s Zuckerberg dismisses Apple Vision Pro; ‘not the one that I want’
Thursday, June 8, 2023 6:26 pm
In all-hands meeting and email to employees, Meta CEO says that the Apple Vision Pro is “not the one that I want,” and “there’s no kind of magical solutions… that our teams haven’t already explored and thought of.”
Jon Swartz for MarketWatch:
In an all-hands meeting Thursday, Meta Platforms Inc.’s chief executive played down the significance of Apple’s play for the mixed-reality world, a market that prompted Facebook to change its corporate name and plunge into the field with its Quest goggles.
“From what I’ve seen initially, I’d say the good news is that there’s no kind of magical solutions that they have to any of the constraints on laws and physics that our teams haven’t already explored and thought of,” he said in comments that were also emailed to Meta employees, according to multiple news reports that MarketWatch independently confirmed Wednesday.
“Every demo that they [Apple] showed [at the WWDC event on Monday] was a person sitting on a couch by themselves,” Zuckerberg dismissively said. “I mean, that could be the vision of the future of computing, but like, it’s not the one that I want.”
MacDailyNews Take: Hopelessly outclassed Zuckerberg then closed his all-hands meeting with:
$3,500! I said that is the most expensive VR headset in the world and it doesn’t appeal to business customers because it doesn’t have a keyboard which makes it not a very good email machine. Now, it may sell very well or not, I, you know, we have our strategy, we’ve got great VR headsets in the market today, we, you can get a Quest 2 now for $299.99; it’s a very capable machine, it’ll do music, it’ll do, uh, internet, it’ll do email, it’ll do instant messaging. So, I, I kinda look at that and I say, well, I like our strategy. I like it a lot.
Right now we’re selling hundreds and hundreds and hundreds of VR headsets a year, Apple is selling zero VR headsets a year (half smile). In six months, they’ll have the most expensive VR headset by far ever in the marketplace (laughs) and let’s see (shrugs), you know, eh, what’s the expression, let’s see how the competition goes.
Oh, we’ll see alright.
All of this is coming from a guy who was smart enough to steal the idea for Facebook, but doesn’t seem to be smart enough to run Facebook profitably without trampling his users’ privacy without permission. Hence, his quixotic push to sell a warmed-over Second Life knockoff; stench of desperation be damned.
Of course the Apple Vision Pro is “not the one he wants.” It’s going to kill him.
This is not a VR headset. It’s a spatial computer. Previous failures in the “VR headset” game from the likes of Meta are due to the fact that nobody else can come close to matching Apple’s ability to produce the entire widget. Only Apple has the custom silicon required, the custom operating system, the ecosystem and the interoperability it provides; no other company on earth can do what Apple has done here.
And even Mark Zuckerberg, who’ll soon be buying a middling NBA team for five times its value, can figure that out.
See also: Zuckerberg panics, Osborne Effects Meta with rushed ‘Quest 3’ headset reveal – June 1, 2023
https://macdailynews.com/2023/06/08/metas-zuckerberg-dismisses-apple-vision-pro-not-the-one-that-i-want/
Meta’s quixotic Quest cannot compete with Apple’s Vision Pro
Wednesday, June 7, 2023 8:58 am
Four days before Apple entered, and redefined, the nascent extended-reality (XR) headset market by going far, far beyond merely that with an entirely new platform, ushering in spatial computing, Mark Zuckerberg’s Meta Platforms pre-announced the latest version of its Quest mixed-reality headset in a panic.
Tae Kim for Barron’s:
Meta executives were likely dismayed over the positive reception for Apple’s headset innovations. The maker of the Quest VR devices has already lost tens of billions of dollars in projects tied to the metaverse inside its Reality Labs unit. And when the company launched its $1,500 Meta Quest Pro last October, it was criticized for lack of innovation. Management cut the price by $500 to $1,000 in subsequent months.
The main problem for Meta is that it lacks Apple’s advantages in custom-design chip prowess and ownership of a dominant mobile operating system. Meta relies on third-party chip suppliers like Qualcomm, whose semiconductor designs are far behind Apple’s. Meta also lacks the large ecosystem surrounding Apple’s iPhone App Store, a vast library of software that developers can easily port over to the Vision Pro.
Mass adoption may be years away for the AR/VR market. But this week’s product announcement shows the category is now Apple’s to lose.
Ben Thompson for Stratechery:
The unfortunate reality for Meta is that they seem completely out-classed on the hardware front. Yes, Apple is working with a 7x advantage in price, which certainly contributes to things like superior resolution, but that bit about the deep integration between Apple’s own silicon and its custom-made operating system are going to very difficult to replicate for a company that has (correctly) committed to an Android-based OS and a Qualcomm-designed chip.
One of Apple’s biggest advancements with Vision Pro is eliminating handheld controllers and, in doing so, making every so-called rival’s VR headset look like a horse and buggy in comparison, but the main thing is that Vision Pro is not a “VR headset” or “AR headset” or whatever. It’s a computer. A “spatial computer,” to be precise.
— SteveJack, MacDailyNews, June 6, 2023
MacDailyNews Take: As we wrote a week ago about Meta’s panicky pre-announcement:
Shades of Ballmer’s flop-sweat-submerged “reveal” of “HP slate” vaporware just ahead of Apple’s iPad unveiling.
Zuckerberg’s panic has, in one fell swoop, removed any reason for whatever potential buyers he had to buy Meta’s “Quest 2” headset (Osborne Effect) just as Apple is about to appropriate all of the planet’s AR/VR/XR air until Christmas and beyond. It was the absolute worst move he could have made and Apple, without a peep, pushed him into making it. ??
Enjoy your lead in the VR headset market, Meta, because it’s about to evaporate forever, just like your user-tracking advertising revenue.
https://macdailynews.com/2023/06/07/metas-quixotic-quest-cannot-compete-with-apples-vision-pro/
Apple acquires AR headset startup Mira
Tuesday, June 6, 2023 3:01 pm
Apple has acquired Mira, a Los Angeles-based AR startup that makes headsets for other companies and the U.S. military, The Verge reports, citing a post from the CEO’s private Instagram account on Monday. Apple confirmed the acquisition to The Verge.
Zoe Schiffer and Alex Heath for The Verge:
It’s unclear how much Apple paid for Mira, which raised about $17 million in funding to date. Jony Ive, Apple’s former design chief, was an advisor to the startup at one point, according to two former employees who requested anonymity to speak without the company’s permission.
Apple shared its typical statement it gives when it buys a company with The Verge: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” A spokesperson wouldn’t say whether it would continue Mira’s military contracts on the record, but knowing how Apple operates, it’s highly unlikely that work will continue.
Mira’s military contracts include a small agreement with the US Air Force and a $702,351 agreement with the Navy, according to government records and press releases. The Air Force contract is for military pilots at Travis Air Force Base to use the startup’s Prism Pro headset for displaying things like heads-up equipment instructions… Another big Mira contract is with Nintendo World, which uses its headsets for the Mario Kart ride at its theme parks in Japan and LA’s Universal Studios. Mira’s headset displays virtual characters and items from the game to augment the ride as you progress through it.
MacDailyNews Take: Now, what the heck would Apple want an AR company for? ??
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https://macdailynews.com/2023/06/06/apple-acquires-ar-headset-startup-mira/
Introducing Apple Vision Pro: Apple’s first spatial computer
June 05 2023 - 03:03PM
Business Wire
Apple® today unveiled Apple Vision Pro™, a revolutionary spatial computer that seamlessly blends digital content with the physical world, while allowing users to stay present and connected to others. Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by the most natural and intuitive inputs possible — a user’s eyes, hands, and voice. Featuring visionOS™, the world’s first spatial operating system, Vision Pro lets users interact with digital content in a way that feels like it is physically present in their space. The breakthrough design of Vision Pro features an ultra-high-resolution display system that packs 23 million pixels across two displays, and custom Apple silicon in a unique dual-chip design to ensure every experience feels like it’s taking place in front of the user’s eyes in real time.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230605005752/en/
Introducing the era of spatial computing with Apple Vision Pro. (Photo: Business Wire)
“Today marks the beginning of a new era for computing,” said Tim Cook, Apple’s CEO. “Just as the Mac introduced us to personal computing, and iPhone introduced us to mobile computing, Apple Vision Pro introduces us to spatial computing. Built upon decades of Apple innovation, Vision Pro is years ahead and unlike anything created before — with a revolutionary new input system and thousands of groundbreaking innovations. It unlocks incredible experiences for our users and exciting new opportunities for our developers.”
“Creating our first spatial computer required invention across nearly every facet of the system,” said Mike Rockwell, Apple’s vice president of the Technology Development Group. “Through a tight integration of hardware and software, we designed a standalone spatial computer in a compact wearable form factor that is the most advanced personal electronics device ever.”
Extraordinary New Experiences
Apple Vision Pro brings a new dimension to powerful, personal computing by changing the way users interact with their favorite apps, capture and relive memories, enjoy stunning TV shows and movies, and connect with others in FaceTime®.
An infinite canvas for apps at work and at home: visionOS features a three-dimensional interface that frees apps from the boundaries of a display so they can appear side by side at any scale. Apple Vision Pro enables users to be even more productive, with infinite screen real estate, access to their favorite apps, and all-new ways to multitask. And with support for Magic Keyboard® and Magic Trackpad®, users can set up the perfect workspace or bring the powerful capabilities of their Mac® into Vision Pro wirelessly, creating an enormous, private, and portable 4K display with incredibly crisp text.
Engaging entertainment experiences: With two ultra-high-resolution displays, Apple Vision Pro can transform any space into a personal movie theater with a screen that feels 100 feet wide and an advanced Spatial Audio system. Users can watch movies and TV shows, or enjoy stunning three-dimensional movies. Apple Immersive Video™ offers 180-degree high-resolution recordings with Spatial Audio, and users can access an exciting lineup of immersive videos that transport them to entirely new places.
Spatial computing makes new types of games possible with titles that can span a spectrum of immersion and bring gamers into all-new worlds. Users can also play over 100 Apple Arcade® games on a screen as large as they want, with incredible immersive audio and support for popular game controllers.
Immersive Environments: With Environments, a user’s world can grow beyond the dimensions of a physical room with dynamic, beautiful landscapes that can help them focus or reduce clutter in busy spaces. A twist of the Digital Crown® lets a user control how present or immersed they are in an environment.
Memories come alive: Featuring Apple’s first three-dimensional camera, Apple Vision Pro lets users capture, relive, and immerse themselves in favorite memories with Spatial Audio. Every spatial photo and video transports users back to a moment in time, like a celebration with friends or a special family gathering. Users can access their entire photo library on iCloud®, and view their photos and videos at a life-size scale with brilliant color and spectacular detail. Every Panorama shot on iPhone® expands and wraps around the user, creating the sensation they are standing right where it was taken.
FaceTime becomes spatial: With Apple Vision Pro, FaceTime calls take advantage of the room around the user, with everyone on the call reflected in life-size tiles, as well as Spatial Audio, so it sounds as if participants are speaking right from where they are positioned. Users wearing Vision Pro during a FaceTime call are reflected as a Persona — a digital representation of themselves created using Apple’s most advanced machine learning techniques — which reflects face and hand movements in real time. Users can do things together like watch a movie, browse photos, or collaborate on a presentation.
Even more app experiences: Apple Vision Pro has an all-new App Store® where users can discover apps and content from developers, and access hundreds of thousands of familiar iPhone and iPad® apps that run great and automatically work with the new input system for Vision Pro. Apple’s developer community can go even further and take advantage of the powerful and unique capabilities of Vision Pro and visionOS to design brand-new app experiences, and reimagine existing ones for spatial computing.
A Revolutionary Operating System and User Interface
Built on the foundation of decades of engineering innovation in macOS®, iOS, and iPadOS®, visionOS was designed from the ground up to support the low-latency requirements of spatial computing. The result is a revolutionary operating system that delivers powerful spatial experiences that can take advantage of the space around the user, unlocking new opportunities at work and at home.
visionOS features a brand-new three-dimensional interface that makes digital content look and feel present in a user’s physical world. By responding dynamically to natural light and casting shadows, it helps the user understand scale and distance. To enable user navigation and interaction with spatial content, Apple Vision Pro introduces an entirely new input system controlled by a person’s eyes, hands, and voice. Users can browse through apps by simply looking at them, tapping their fingers to select, flicking their wrist to scroll, or using voice to dictate.
Apple Vision Pro also features EyeSight™, an extraordinary innovation that helps users stay connected with those around them. When a person approaches someone wearing Vision Pro, the device feels transparent — letting the user see them while also displaying the user’s eyes. When a user is immersed in an environment or using an app, EyeSight gives visual cues to others about what the user is focused on.
Breakthrough Design
Apple Vision Pro builds on Apple innovation and experience designing high-performance products like Mac, iPhone, and wearables like Apple Watch®, culminating in the most advanced personal electronics device ever. To achieve ambitious goals for performance, mobility, and wearability, Apple utilized the most advanced materials possible.
Apple Vision Pro has an astonishing amount of technology in a compact design. A singular piece of three-dimensionally formed and laminated glass is polished to create an optical surface that acts as a lens for the wide array of cameras and sensors needed to blend the physical world with digital content. The glass flows into the custom aluminum alloy frame that gently curves around the user’s face, while the modular system allows for a tailored fit to accommodate a wide range of people. The Light Seal is made of a soft textile, and comes in a range of shapes and sizes, flexing to conform to a user’s face for a precise fit. Flexible straps ensure audio remains close to the user’s ears, while a Head Band — available in multiple sizes — is three-dimensionally knitted as a single piece to provide cushioning, breathability, and stretch.1 The band is secured with a simple mechanism, making it easy to change to another size or style of band.
Unrivaled Innovation in Hardware
Apple Vision Pro is designed to deliver phenomenal compute performance in a compact wearable form factor. Featuring a breakthrough ultra-high-resolution display system built on top of an Apple silicon chip, Vision Pro uses micro-OLED technology to pack 23 million pixels into two displays, each the size of a postage stamp, with wide color and high dynamic range. This technological breakthrough, combined with custom catadioptric lenses that enable incredible sharpness and clarity, delivers jaw-dropping experiences. Users with vision correction needs will use ZEISS Optical Inserts to ensure visual fidelity and eye tracking accuracy.2
An advanced Spatial Audio system is core to the Apple Vision Pro experience, creating the feeling that sounds are coming from the environment around the user and matching the sound to the space. Two individually amplified drivers inside each audio pod deliver Personalized Spatial Audio based on the user’s own head and ear geometry.3
In addition to creating a breakthrough display and advanced audio experiences, the high-performance eye tracking system in Apple Vision Pro uses high-speed cameras and a ring of LEDs that project invisible light patterns onto the user’s eyes for responsive, intuitive input.
These groundbreaking innovations are powered by Apple silicon in a unique dual-chip design. M2 delivers unparalleled standalone performance, while the brand-new R1 chip processes input from 12 cameras, five sensors, and six microphones to ensure that content feels like it is appearing right in front of the user’s eyes, in real time. R1 streams new images to the displays within 12 milliseconds — 8x faster than the blink of an eye. Apple Vision Pro is designed for all-day use when plugged in, and up to two hours of use with its external, high-performance battery.
Industry-Leading Privacy and Security
Apple Vision Pro is built on a strong foundation of privacy and security, and keeps users in control of their data.
Optic ID™ is a new secure authentication system that analyzes a user’s iris under various invisible LED light exposures, and then compares it to the enrolled Optic ID data that is protected by the Secure Enclave to instantly unlock Apple Vision Pro. A user’s Optic ID data is fully encrypted, is not accessible to apps, and never leaves their device, meaning it is not stored on Apple servers.
Where a user looks stays private while navigating Apple Vision Pro, and eye tracking information is not shared with Apple, third-party apps, or websites. Additionally, data from the camera and other sensors is processed at the system level, so individual apps do not need to see a user’s surroundings to enable spatial experiences. EyeSight also includes a visual indicator that makes it clear to others when a user is capturing a spatial photo or video.
Pricing and Availability
Apple Vision Pro starts at $3,499 (U.S.), and will be available early next year on apple.com and at Apple Store® locations in the U.S., with more countries coming later next year. Customers will be able to learn about, experience, and personalize their fit for Vision Pro at Apple Store locations. For more information about Vision Pro, visit apple.com/apple-vision-pro.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.
1 Accessories are sold separately.
2 ZEISS Optical Inserts are sold separately.
3 Personalized Spatial Audio requires an iPhone with a TrueDepth® camera to create a personal profile.
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© 2023 Apple Inc. All rights reserved. Apple, the Apple logo, Apple Vision Pro, visionOS, FaceTime, Magic Keyboard, Magic Trackpad, Mac, Apple Immersive Video, Apple Arcade, Digital Crown, iCloud, iPhone, App Store, iPad, macOS, iPadOS, EyeSight, Apple Watch, Optic ID, Apple Store, and TrueDepth are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005752/en/
Jacqueline Roy
Apple
jacqueline_roy@apple.com
Andrea Schubert
Apple
a_schubert@apple.com
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