Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
All eyes on Apple ahead of earnings today; here’s what the analysts expect
Thursday, February 2, 2023 8:51 am
Apple on Thursday reports fiscal first quarter 2023 (calendar fourth quarter 2022) after market close, right around 1:30pm PT / 4:30pm ET. The compnany will follow the release with a conference call with analysts scheduled to begin at 2pm PT / 5pm ET.
Eric J. Savitz for Barron;s:
The consensus view on Wall Street is that Apple (ticker: AAPL) will report sales of $121.7 billion for its fiscal first quarter, down 1.8% from the year-earlier quarter, marking the first year-over-year quarterly decline since 2019. Profits are projected at $1.95 a share, down from $2.10 a year earlier.
Also keep in mind that this time around, the December quarter had 14 weeks, rather than the usual 13. That was widely known, but an extra week can sometimes distort the Street’s estimates.
The biggest swing factor is likely to be iPhone sales, where the Street is anticipating a hit from the company’s well known production problems for the iPhone 14 Pro and Pro Max. The wild card is how the weakening economy has affected demand for those high-end phones.
Wall Street analysts tracked by FactSet expect iPhone revenue in the quarter of $68.3 billion, down 4.6% from a year earlier with Mac revenue of $9.3 billion, off 14%. The Street sees iPad revenue of $7.9 billion, up 9.6%. Wearables, home, and accessories revenue is projected to be $15.2 billion, up 3.4%. Analysts project services revenue of $20.5 billion, up 5%.
MacDailyNews Note: As usual, we’ll have Apple’s results for you right around right around 1:30pm PT / 4:30pm ET and then cover the company’s Q123 conference call with live notes starting at 2pm PT / 5pm ET.
https://macdailynews.com/2023/02/02/all-eyes-on-apple-ahead-of-earnings-today-heres-what-the-analysts-expect/
National Labor Relations Board claims Apple executives violated worker rights
Tuesday, January 31, 2023 8:59 am
U.S. National Labor Relations Board prosecutors claim that comments by Apple executives and policies imposed on employees violate workers’ rights.
Josh Eidelson for Bloomberg Law:
The NLRB general counsel’s office has determined that “various work rules, handbook rules, and confidentiality rules” imposed by the tech giant “tend to interfere with, restrain or coerce employees” from exercising their rights to collective action, spokesperson Kayla Blado said Monday.
In addition, she said, the agency “found merit to a charge alleging statements and conduct by Apple — including high-level executives — also violated the National Labor Relations Act.” Unless Apple settles, the board’s regional director will issue a complaint against the Cupertino, California-based company, Blado said in an email.
The agency’s investigations stemmed from cases brought in 2021 by former employees Ashley Gjovik and Cher Scarlett. Scarlett accused the company of maintaining work rules that “prohibit employees from discussing wages, hours, or other terms or conditions of employment.” Gjovik’s filings alleged that an email Chief Executive Officer Tim Cook sent pledging to punish leakers, as well as a set of policies in Apple’s employee handbook, violated federal law.
Gjovik cited policies restricting staff from disclosing “business information,” talking to reporters, revealing co-workers’ compensation or posting impolite tweets.
In his all-staff email, sent in September 2021, Cook wrote that “people who leak confidential information do not belong here.” Cook’s message said that Apple was “doing everything in our power to identify those who leaked” and that it didn’t “tolerate disclosures of confidential information, whether it’s product IP or the details of a confidential meeting.”
Complaints issued by NLRB prosecutors are reviewed by administrative law judges, whose rulings can be appealed to labor board members in Washington — and, from there, to federal court. The agency lacks the ability to impose punitive damages or hold executives personally liable for violations, but can order companies to change workplace policies.
MacDailyNews Take: Ooh, an NLRB complaint. That and a nickel will get you a nickel. In the future, Apple should refrain from hiring Karens.LOL
https://macdailynews.com/2023/01/31/national-labor-relations-board-claims-apple-executives-violated-worker-rights/
Apple’s indomitable Macintosh may bolster earnings amid iPhone uncertainty
Monday, January 30, 2023 4:25 pm
Apple’s last earnings report was bolstered by the indomitable Macintosh and the same dynamic may show up in the Cupertino Colossus’ holiday earnings.
Emily Bary for MarketWatch:
Macs posted record revenue of $11.5 billion that was more than $2 billion ahead of expectations in the September quarter, making up for a shortfall in Apple’s iPhone sales. Apple may be looking for a boost from its white knight yet again when it reports holiday-quarter results Thursday afternoon, since its iPhone business has faced supply disruptions amid COVID-19 shutdowns in China.
Management’s own outlook called for Mac revenue “to decline substantially” from a year before, and analysts tracked by FactSet expect the company to post $9.4 billion in Mac revenue for the December quarter, 13.5% below its sales from a year earlier. That year-ago period benefited from a MacBook Pro launch.
Still, revenue of that magnitude would be Apple’s fourth highest on record for the category, despite the lack of a big product refresh, and there could be room for upside on Macs again this quarter. Morgan Stanley analyst Erik Woodring recently boosted his expectations for Mac revenue to $9.8 billion, up 12% from his prior forecast due to “stronger-than-expected Mac shipments.”
MacDailyNews Take: Apple’s Macintosh will continue to outperform the struggling “PC” industry because Apple’s well-heeled Mac customers are also most likely to be inflation- and recession-resistant and because the Mac hardware and software continues to outperform the imitators.
Imagine, some of these IP- and trade dress-trampling hacks have spent nearly 40 years trying to copy the Mac and still not getting anywhere near it!
https://macdailynews.com/2023/01/30/apples-indomitable-macintosh-may-bolster-earnings-amid-iphone-uncertainty/
Analysts expect Apple to post its first revenue decline – however slight – since 2019
Monday, January 30, 2023 2:38 pm
Apple reports December quarter earnings on Thursday, and analysts expect the company to post its first revenue decline – however slight it may be – since 2019.
Kif Leswing for CNBC:
The company couldn’t build enough of its high-end iPhones when its primary assembly facility in China was shut down for weeks during covid lockdowns.
Apple gave a rare warning to investors that month explaining that production issues would result in lower shipments than “previously expected.” It was a data point that caused many analysts watching the stock to cut their estimates.
“We believe the peak impact of the disruptions was felt in early to mid November as wait times hit an extreme level (link) as the wait time in the US for the 14 Pro and 14 Pro Max reached 34 days while wait time in China at the high-end hit 36 days,” UBS analyst David Vogt wrote in January.
Analysts polled by Refinitiv expect Apple to report just over $121 billion in revenue in the December quarter, which would be a slight decline from the company’s $123.9 billion from a year ago.
MacDailyNews Take: For Apple’s holiday 2022 quarter, it’s not a demand issue, it’s a supply issue – because somebody painted Apple into a CCP-controlled corner and began to try to extricate the company from its trap way too late. At least that effort has finally begun in earnest.
It’s smart for both Apple and Foxconn to diversify assembly outside of China. There’s no sense having all of your eggs in one basket. — MacDailyNews, April 2, 2019
India will help power Apple’s growth for many years. – MacDailyNews, January 4, 2017
MacDailyNews Note: As always, we’ll have Apple’s earnings results for you on the 27th right after market close (1:30 p.m. PDT / 4:30 p.m. EDT) and follow that with live notes from Apple’s Q422 conference call.
Here’s what Wall Street is expecting for Apple’s Q123 (calendar Q422), according to Refinitiv consensus estimates:
• Revenue: $121.19 billion
• Earnings per share: $1.94 per share
• iPhone revenue: $68.29 billion
• Mac revenue: $9.63 billion
• iPad revenue: $7.76 billion
• Other products revenue: $15.26 billion
• Services revenue: $20.67 billion
https://macdailynews.com/2023/01/30/analysts-expect-apple-to-post-its-first-revenue-decline-however-slight-since-2019/
Dog eats Apple AirTag. Once retrieved, it still works.
Monday, January 30, 2023 2:07 pm
When Colin Mortimer used his iPhone to locate a lost AirTag, one meant to track his dog, normally attached to her collar, his fear was realized when his dog Sassy began to beep.
Dalvin Brown for The Wall Street Journal:
The 25-year-old fired up Apple’s Find My app, which showed that the white, bottle-cap-size disc was still in his home. He tapped a button on his iPhone to trigger the AirTag to beep. That’s what he heard coming from the belly of Sassy, a 50-pound Labrador retriever foster pup.
“I was like ‘Oh my God,’ ” said Mr. Mortimer, director of a public policy organization. “Luckily, we got her to throw it up.”
The AirTag, which was personalized with a puppy emoji, has a few bite marks but still works. He bought a new, $7 plastic holder from Amazon, and reattached the tracker to the collar of his older Lab, Sophie, he said.
MacDailyNews Take: Apple’s AirTag literally takes a licking and keeps on ticking!
https://macdailynews.com/2023/01/30/dog-eats-apple-airtag-once-retrieved-it-still-works/
Apple supplier Jabil begins making AirPods components in India
Monday, January 30, 2023 9:00 am
Apple supplier Jabil has begun making components for AirPods in India, marking a significant step in Apple’s push to diversify production, and reduce its dependence on China by expanding production in India.
Sankalp Phartiyal for Bloomberg News:
The Indian unit of Jabil Inc. has begun shipping AirPods enclosures, or plastic bodies, to China and Vietnam, where the wireless earphones are assembled, people familiar with the matter said, asking not to be named as the move isn’t public.
Apple is building out production in India to reduce its reliance on China, where US trade restrictions and Covid-related disruptions have made manufacturing more risky. Its India output has thus far been limited to the iPhone, making AirPods the second Apple product now partially manufactured in the country.
US manufacturing services provider Jabil operates a 858,000 square foot (80,000 square meter) facility employing more than 2,500 workers in Pune, western India, according to its website…
New Delhi has given initial clearances to more than a dozen of its Chinese suppliers to ramp up via joint ventures with Indian partners. Luxshare Precision Industry Co Ltd., one of Apple’s Chinese suppliers which makes AirPods, is among the companies gaining that approval. Luxshare in 2020 agreed to take over a shuttered Motorola plant in India’s southern Tamil Nadu state, but is yet to begin manufacturing Apple products locally.
MacDailyNews Take: At a Software conference in May 2007, then Motorola Chairman and CEO Ed Zander was asked about Apple’s iPhone, due to be released the next month, “How do you deal with that?” Zander quickly retorted, “How do they deal with us?”
Answer: They turn your plants into shuttered hulks to be purchased for pennies on the dollar in order to be repurposed to make Apple iPhone accessories, that’s how.
https://macdailynews.com/2023/01/30/apple-supplier-jabil-begins-making-airpods-components-in-india/
U.S. DOJ antitrust lawsuit against Google could benefit Apple
Thursday, January 26, 2023 12:52 pm
A landmark lawsuit by the U.S. Justice Department against Alphabet’s Google subsidiary over its abusive digital advertising monopoly could help Apple, other rivals, and websites that sell ad space, but leaves an uncertain future for the advertisers themselves, experts told Reuters.
Sheila Dang and Diane Bartz for Reuters:
The Justice Department’s complaint against Google on Tuesday called for the company to divest Google Ad Manager, a suite of tools including one that lets websites put ad space up for a sale and another that served as an ad marketplace that automatically matched advertisers with those publishers.
If the Justice Department lawsuit succeeds, “advertisers and publishers could have more leverage with more options with expanding players – and consequently more competition,” said Neil Begley of Moody’s Investors Service.
Apple Inc, which is steadily growing its nascent advertising business and promoting it as privacy-focused, could be a winner if Google ads become less effective, said Brian Mandelbaum, chief executive of marketing firm Attain.
Apple has “an ability to be a new dominant force,” in advertising because Apple has data through its ownership of phones, its Safari web browser and the distribution of apps through the App Store, he said.
With more options besides Google, publishers will have more transparency over how much they can sell ad space for, and could end up paying less in fees, Mandelbaum said.
If successful, the lawsuit could be “the beginning of serious business model changes for Google,” said Paul Gallant, managing director at Cowen Washington Research Group.
MacDailyNews Take: Again, this is a decade or so too late, but at least it’s finally happening!
As regular readers know, we’ve been talking about this issue for years, as ad revenue dwindled – yet Alphabet/Google magically got richer. We’ve all lost many great sites over recent years as the Google-dominated broken ad-supported model failed. This is the very reason why there are too many ads on the site (cluttered is better than dead).
Candidly, it may be too late for us (but, for now, we’re still trying to survive). This will take many years to be rectified and for the once-vibrant digital advertising model to begin working again for publishers, if it ever happens. If you can help keep our independent Apple-focused blog afloat, you can do so here. Thank you in advance!
Even as we attempt to move away from the ad-supported model, we back whatever remedy or remedies will introduce competition back into the online advertising business, which is broken, in part, because far too much power is concentrated with Google/Facebook. This situation is exactly why antitrust laws exist. — MacDailyNews, February 2, 2021
Imagine if your livelihood depended on one company that had not only monopolized web search (and, thereby, basically controlled how new customers find you), but also controlled the bulk of online advertising dollars which funded your business and which they could pull, simply threaten to pull, or reduce rates at any time? Now also imagine if you believe this monopolist basically stole the product of another company that is the very subject of your business? How much would you criticize the monopolist thief’s business practices?
You might guess that it would be a tough road to walk. (We’re only imagining, of course!)
That would be a good example of why monopolies are bad for everyone…
In the meantime, stop using Google search and Google products wherever possible. Monopolies are bad for everyone. — MacDailyNews, July 14, 2016
If you haven’t already, give DuckDuckGo a try! https://duckduckgo.com
With this unprecedented power, platforms have the ability to redirect into their pockets the advertising dollars that once went to newspapers and magazines. No one company should have the power to pick and choose which content reaches consumers and which doesn’t. — MacDailyNews, November 9, 2017
We’d like to see real competition in the online search and advertising markets restored someday. — MacDailyNews, March 20, 2019
https://macdailynews.com/2023/01/26/u-s-doj-antitrust-lawsuit-against-google-could-benefit-apple/
Apple Maps app feature can help you find a parking spot
Tuesday, January 24, 2023 3:19 pm
Apple Maps has partnered with SpotHero, integrating the service into Apple Maps on iPhone and Mac, so you’ll be able to find information on parking spots close to your destination – all without leaving the Apple Maps app.
Kurt Knutsson for Fox News:
Apple Maps app allows you to search for parking availability, check prices and even reserve a spot for your vehicle. You can even make your search a bit more specific by looking for spaces with electric vehicle charging stations and wheelchair accessibility.
Apple has made this possible by partnering with digital parking company SpotHero to provide information to Apple users on 8,000 parking venues.
The SpotHero website is now embedded in the Maps app and will give you all the information you need. Just keep in mind the feature is only available in the United States and Canada, and only features paid parking spots.
MacDailyNews Note: Check out the screenshots in the full article here.
https://macdailynews.com/2023/01/24/apple-maps-app-feature-can-help-you-find-a-parking-spot/
U.S. Justice Department sues Google for monopolizing digital advertising technologies
Tuesday, January 24, 2023 2:33 pm
Today, the Justice Department, along with the Attorneys General of California, Colorado, Connecticut, New Jersey, New York, Rhode Island, Tennessee, and Virginia, filed a civil antitrust suit against Google for monopolizing multiple digital advertising technology products in violation of Sections 1 and 2 of the Sherman Act.
Filed in the U.S. District Court for the Eastern District of Virginia, the complaint alleges that Google monopolizes key digital advertising technologies, collectively referred to as the “ad tech stack,” that website publishers depend on to sell ads and that advertisers rely on to buy ads and reach potential customers. Website publishers use ad tech tools to generate advertising revenue that supports the creation and maintenance of a vibrant open web, providing the public with unprecedented access to ideas, artistic expression, information, goods, and services. Through this monopolization lawsuit, the Justice Department and state Attorneys General seek to restore competition in these important markets and obtain equitable and monetary relief on behalf of the American public.
As alleged in the complaint, over the past 15 years, Google has engaged in a course of anticompetitive and exclusionary conduct that consisted of neutralizing or eliminating ad tech competitors through acquisitions; wielding its dominance across digital advertising markets to force more publishers and advertisers to use its products; and thwarting the ability to use competing products. In doing so, Google cemented its dominance in tools relied on by website publishers and online advertisers, as well as the digital advertising exchange that runs ad auctions.
“Today’s complaint alleges that Google has used anticompetitive, exclusionary, and unlawful conduct to eliminate or severely diminish any threat to its dominance over digital advertising technologies,” said Attorney General Merrick B. Garland in a statement. “No matter the industry and no matter the company, the Justice Department will vigorously enforce our antitrust laws to protect consumers, safeguard competition, and ensure economic fairness and opportunity for all.”
“The complaint filed today alleges a pervasive and systemic pattern of misconduct through which Google sought to consolidate market power and stave off free-market competition,” said Deputy Attorney General Lisa O. Monaco in a statement. “In pursuit of outsized profits, Google has caused great harm to online publishers and advertisers and American consumers. This lawsuit marks an important milestone in the Department’s efforts to hold big technology companies accountable for violations of the antitrust laws.”
“The Department’s landmark action against Google underscores our commitment to fighting the abuse of market power,” said Associate Attorney General Vanita Gupta in a statement. “We allege that Google has captured publishers’ revenue for its own profits and punished publishers who sought out alternatives. Those actions have weakened the free and open internet and increased advertising costs for businesses and for the United States government, including for our military.”
“Today’s lawsuit seeks to hold Google to account for its longstanding monopolies in digital advertising technologies that content creators use to sell ads and advertisers use to buy ads on the open internet,” said Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division in a statement. “Our complaint sets forth detailed allegations explaining how Google engaged in 15 years of sustained conduct that had — and continues to have — the effect of driving out rivals, diminishing competition, inflating advertising costs, reducing revenues for news publishers and content creators, snuffing out innovation, and harming the exchange of information and ideas in the public sphere.”
Google now controls the digital tool that nearly every major website publisher uses to sell ads on their websites (publisher ad server); it controls the dominant advertiser tool that helps millions of large and small advertisers buy ad inventory (advertiser ad network); and it controls the largest advertising exchange (ad exchange), a technology that runs real-time auctions to match buyers and sellers of online advertising.
Google’s anticompetitive conduct has included:
• Acquiring Competitors: Engaging in a pattern of acquisitions to obtain control over key digital advertising tools used by website publishers to sell advertising space;
• Forcing Adoption of Google’s Tools: Locking in website publishers to its newly-acquired tools by restricting its unique, must-have advertiser demand to its ad exchange, and in turn, conditioning effective real-time access to its ad exchange on the use of its publisher ad server;
• Distorting Auction Competition: Limiting real-time bidding on publisher inventory to its ad exchange, and impeding rival ad exchanges’ ability to compete on the same terms as Google’s ad exchange; and
• Auction Manipulation: Manipulating auction mechanics across several of its products to insulate Google from competition, deprive rivals of scale, and halt the rise of rival technologies.
As a result of its illegal monopoly, and by its own estimates, Google pockets on average more than 30% of the advertising dollars that flow through its digital advertising technology products; for some transactions and for certain publishers and advertisers, it takes far more. Google’s anticompetitive conduct has suppressed alternative technologies, hindering their adoption by publishers, advertisers, and rivals.
The Sherman Act embodies America’s enduring commitment to the competitive process and economic liberty. For over a century, the Department has enforced the antitrust laws against unlawful monopolists to unfetter markets and restore competition. To redress Google’s anticompetitive conduct, the Department seeks both equitable relief on behalf of the American public as well as treble damages for losses sustained by federal government agencies that overpaid for web display advertising. This enforcement action marks the first monopolization case in approximately half a century in which the Department has sought damages for a civil antitrust violation.
In 2020, the Justice Department filed a civil antitrust suit against Google for monopolizing search and search advertising, which are different markets from the digital advertising technology markets at issue in the lawsuit filed today. The Google search litigation is scheduled for trial in September 2023.
Google is a limited liability company organized and existing under the laws of the State of Delaware, with a headquarters in Mountain View, California. Google’s global network business generated approximately $31.7 billion in revenues in 2021. Google is owned by Alphabet Inc., a publicly traded company incorporated and existing under the laws of the State of Delaware and headquartered in Mountain View, California.
MacDailyNews Take: A decade or so too late, but finally, at least!
As regular readers know, we’ve been talking about this issue for years, as ad revenue dwindled – yet Alphabet/Google magically got richer. The “Apple Web” lost many great sites over recent years as the broken ad-supported model failed. This is the very reason why there are too many ads on the site (cluttered is better than dead).
Candidly, it may be too late for us (but, for now, we’re still trying to survive). This will take many years to be rectified and for the once-vibrant digital advertising model to begin working again for publishers, if it ever happens. If you can help keep our independent Apple-focused blog afloat, you can do so here. Thank you in advance!
Even as we attempt to move away from the ad-supported model, we back whatever remedy or remedies will introduce competition back into the online advertising business, which is broken, in part, because far too much power is concentrated with Google/Facebook. This situation is exactly why antitrust laws exist. — MacDailyNews, February 2, 2021
Imagine if your livelihood depended on one company that had not only monopolized web search (and, thereby, basically controlled how new customers find you), but also controlled the bulk of online advertising dollars which funded your business and which they could pull, simply threaten to pull, or reduce rates at any time? Now also imagine if you believe this monopolist basically stole the product of another company that is the very subject of your business? How much would you criticize the monopolist thief’s business practices?
You might guess that it would be a tough road to walk. (We’re only imagining, of course!)
That would be a good example of why monopolies are bad for everyone…
In the meantime, stop using Google search and Google products wherever possible. Monopolies are bad for everyone. — MacDailyNews, July 14, 2016
If you haven’t already, give DuckDuckGo a try! https://duckduckgo.com
With this unprecedented power, platforms have the ability to redirect into their pockets the advertising dollars that once went to newspapers and magazines. No one company should have the power to pick and choose which content reaches consumers and which doesn’t. — MacDailyNews, November 9, 2017
We’d like to see real competition in the online search and advertising markets restored someday. — MacDailyNews, March 20, 2019
https://macdailynews.com/2023/01/24/u-s-justice-department-sues-google-for-monopolizing-digital-advertising-technologies/
Apple unveils programs highlighting data privacy and security on Data Privacy Day
Tuesday, January 24, 2023 11:40 am
In celebration of Data Privacy Day, Apple today unveiled a new set of educational resources designed to help users take control of their data.
As threats to the privacy and security of personal information are on the rise, a new Today at Apple session will educate users on how they can safeguard their data. And to drive awareness about the importance of data privacy, Apple has also partnered with Apple TV+ Ted Lasso star Nick Mohammed in “A Day in the Life of an Average Person’s Data.”
These education efforts build on Apple’s long track record as a privacy leader, with innovations that give people more insight into how their data is used — and more tools to protect it. As a company that believes privacy is a fundamental human right, Apple designs features like App Tracking Transparency and Privacy Nutrition Labels, which put users in the driver’s seat when it comes to their data.
Protecting Users’ Privacy with Today at Apple
Beginning Saturday, January 28, a new Today at Apple session, “Taking Charge of Your Privacy on iPhone,” will explore features including Mail Privacy Protection, Safety Check, Location Services, and passkeys. In this session, attendees will learn how they can customize each feature based on their individual privacy preferences.
Today at Apple offers free creative sessions to help customers get the most out of their Apple products. This new 30-minute session will be available at all Apple Store locations around the world, and customers can now also sign up for Group Bookings and schedule a session for their group, organization, or class.
Anyone — regardless of experience level — can sign up for Today at Apple sessions at their local Apple Store by registering at apple.co/skills-privacy.
“We created Today at Apple to spark creativity and enable our customers to get the most out of their Apple products and features,” said Tracey Hannelly, Apple’s senior director of Retail Engagement and Marketing. “We’re thrilled to offer this new Today at Apple session to help our customers learn more about our industry-leading privacy features as we celebrate Data Privacy Day.”
Building in Privacy from the Ground Up
Privacy is built into all of Apple’s products and services from the ground up, from the moment users open their devices to every time they use an app. Apple products and features include innovative privacy technologies designed to minimize how much user data anyone can access.
This is why Safari throws trackers off the trail. It’s why the Health app keeps user records under wraps, and why Siri learns what the user needs rather than who they are. These are just some of the dozens of privacy features that Apple has built into the foundation of every product and every service it creates.
Apple believes that every user should have clear insights into how their data is used, and tools to decide when to share their data and who to share it with. The whimsical short film “A Day in the Life of an Average Person’s Data” invites users to follow Apple TV+ Ted Lasso star Nick Mohammed through his average day, explaining how bad actors misuse data — and how Apple works to keep his personal information safe.
“At Apple, we’re focused on designing devices, features, and services that keep users in control of their personal data,” said Erik Neuenschwander, Apple’s director of User Privacy, in a statement. “Over the years we’ve integrated powerful privacy controls into our operating systems. This film and our new Today at Apple sessions will show users how they can take advantage of some of the features we offer, and understand how privacy is at the center of everything we do.”
This commitment to transparency and control — and to privacy-protecting innovations across its technology — gives Apple users more choice and more control over their personal information. On Data Privacy Day and every day, teams across Apple are pushing this work forward. Learn more about Apple’s privacy features by visiting apple.com/privacy.
MacDailyNews Take: As we wrote back in September 2015: People who value privacy and security use Apple products.
Privacy means people know what they’re signing up for, in plain English, and repeatedly. I’m an optimist; I believe people are smart, and some people want to share more data than other people do. Ask them. Ask them every time. Make them tell you to stop asking them if they get tired of your asking them. Let them know precisely what you’re going to do with their data. — Steve Jobs, June 2010
The more people are educated about unchecked data collection and the more who value their privacy, the better Apple’s sales will be. Today, it’s literally Apple against the world. — MacDailyNews, July 14, 2017
Smart people who are concerned with protecting their privacy use Apple products. Certainly not Google and/or Facebook. — MacDailyNews, September 26, 2018
https://macdailynews.com/2023/01/24/apple-unveils-programs-highlighting-data-privacy-and-security-on-data-privacy-day/
Blackstone in Talks to Sell India REIT Stake to Bain, Reuters Reports
January 24 2023 - 06:50AM
Dow Jones News
--Blackstone Inc. is in talks to sell roughly half of its stake in Embassy Office Parks REIT, India's largest real-estate investment trust, to private-equity firm Bain Capital, Reuters reports, citing sources.[ Was Bain Capital started by Utah Senator Mitt Romney?]
--The deal is worth up to $480 million at current prices, according to the report.
--Blackstone, which currently owns 24% of Embassy, is planning to sell a 10% to 12% stake, Reuters reports, adding that a Blackstone representative declined to comment, while Bain and Embassy didn't respond to requests for comment.
Full story: https://www.reuters.com/markets/deals/blackstone-talks-with-bain-sell-480-mln-stake-top-indian-reit-sources-2023-01-24/
Write to Colin Kellaher at colin.kellaher@wsj.com
Apple among Wedbush’s top stock picks as earnings season kicks off
Monday, January 23, 2023 11:23 am
Apple stock remains among Wedbush Securities’ top picks for 2023 as earnings season starts this week among questions about demand and supply chain issues in China.
Chris Ciaccia for Seeking Alpha:
“In a nutshell, our overall view is that tech spending is holding up much better than is being priced into these stocks and the upcoming earnings season with help clear the deck on 2023 numbers with management teams conservative tone across the board,” Ives wrote in the note.
Ives added that many on Wall Street are already expecting a cut of between 8% and 10% for estimates for 2023 in what would be seen as a “rip the band-off moment.”
Ives reiterated his prior view that tech stocks will be “up 20%” in 2023 and are “way oversold” at current levels.
MacDailyNews Note: Apple will report Q123 earnings for the 2022 holiday quarter after market close, right around 1:30pm PT / 4:30pm ET on Thursday, February 2, 2023. As usual, we’ll have the results for you as soon as they are releases. Apple’s conference call to discuss first fiscal quarter results and business updates will follow on that day at 2:00pm PT / 5:00pm ET which we’ll cover with live notes.
https://macdailynews.com/2023/01/23/apple-among-wedbushs-top-stock-picks-as-earnings-season-kicks-off/
Apple ramped up lobbying spending in 2022
Monday, January 23, 2023 12:35 pm
Apple grew its lobbying spend the most last year compared to its peers, according to public disclosures. The company increased its 2022 lobbying spending by 44% compared to 2021.
Lauren Feiner for CNBC:
Though Apple’s lobbying spending grew the most in the past year compared to peers in the industry, it still spends far below other tech giants. Apple’s total lobbying efforts came to nearly $9.4 million for all of 2022, a record for the company but just below Microsoft’s $9.8 million and Google’s $10.9 million.
Amazon and Facebook-owner Meta topped the list by total spend, doling out $19.7 million and $19.2 million, respectively. For Amazon, that was a roughly 2% increase in spend compared to 2021 and it was a 4.6% decrease for Meta.
The five tech giants spent a combined nearly $69 million lobbying the federal government last year, a 5% increase compared to 2021.
MacDailyNews Take: A drop in the ocean. Apple spent more than $9.4 million on toilet paper last year.
https://macdailynews.com/2023/01/23/apple-ramped-up-lobbying-spending-in-2022/
Google, Microsoft each laying off more than 10,000 employees
Friday, January 20, 2023 1:28 pm
Microsoft will be laying off 10,000 employees and Google will axing 12,000 employees over the coming weeks.
Wesley Hilliard for AppleInsider:
After a surge in hiring during the pandemic, many companies in the tech sector are laying off employees in droves to counterbalance a slowing economy. Even Apple has announced a hiring slowdown as a result, though other companies are taking more drastic measures.
Google and Microsoft have shared that they intend to lay off 12,000 and 10,000 employees, respectively. The companies blame inflation and a return to normal conditions post-COVID.
For Microsoft, this represents about 5% of the company’s total workforce, according to a CNN report. The company will incur a $1.2 billion charge in its second quarter related to severance costs, lease consolidation, and hardware portfolio changes.
Google’s reduction represents about 6% of its total workforce, according to a report from USA Today.
MacDailyNews Take: The responses to COVID-19 teach many lessons including one that some people already knew from the outset: feckless overreactions have long-reaching consequences.
The real virus is the panic. – MacDailyNews, March 9, 2020
https://macdailynews.com/2023/01/20/google-microsoft-each-laying-off-more-than-10000-employees/
Apple launches major security updates around the world
Wednesday, January 18, 2023 1:37 pm
Apple has launched its recent major security updates around the world. The three new optional tools protect users’ data while it is being stored in the cloud.
Andrew Griffin for The Independent:
They include ways of checking that the people in an iMessage conversation really are who they say they are, and the option to fully encrypt iCloud backups so that even Apple is unable to read them.
The new features were released to the U.S. in early December. They are now rolling out globally, after testing.
Apple will now offer a new tool called “Advanced Data Protection”, which will secure iCloud backups with end-to-end encryption so that it can only be read by people’s own trusted devices. That means even Apple is unable to see the data that it is storing on behalf of users.
The feature is likely to be unpopular with governments and law enforcement, who have used Apple’s backups as a way of reading people’s personal data.
As well as the encryption of iCloud backups, Apple will now offer iMessage Contact Key Verification, which will alert people if an attacker breaches cloud servers and is able to listen in on conversations, and offers ways to check that has not happened… Apple will also support security keys for two-factor authentication, which requires that a physical device is held near the phone before it can be unlocked.
MacDailyNews Note: We explain how to set up Advanced Data Protection, end-to-end encryption for your iCloud data explained here.
https://macdailynews.com/2023/01/18/apple-launches-major-security-updates-around-the-world/
Apple unveils new Macs with even faster chips in rare January launch
Tuesday, January 17, 2023 5:36 pm
Apple on Tuesday unveiled MacBooks powered by its new M2 Pro and M2 Max chips, in a rare January product announcement (traditionally, the first launches of a new year come in March).
Reuters:
The new Mac mini starts at $599 and will be available from Jan. 24. The 14-inch and 16-inch MacBook Pro with the latest chips start at $1,999, compared with the $1,299 price tag for a 13-inch model fitted with the M2 chip.
The new Macbook Pro models were expected for months, but supply-chain issues meant the launch was delayed from last year to early 2023, Bloomberg News reported in October.
“This is all connected to the delayed chipset transition … With it being delayed, Apple has been faced with the questions to wait for the traditional, expected launch or actually do something a bit unexpected,” said Canalys analyst Runar Bjørhovde.
“This is a great way of throwing things around and surprising the consumers and competitors,” Bjørhovde said, adding that the announcement could generate some hype at a time when the broader personal computer market is in a slump.
MacDailyNews Note: Watch Apple’s announcement of the new M2 Pro, M2 Max, Mac mini, and MacBook Pro:
https://macdailynews.com/2023/01/17/apple-unveils-new-macs-with-even-faster-chips-in-rare-january-launch/
Apple promises to disclose more details about app removals from App Store
Thursday, January 12, 2023 1:36 pm
Following numerous examples that Apple’s opaque decision-making process threatens freedom of expression in authoritarian countries such as China and Russia, the company has promised to enhance disclosures about why it expels certain apps from its App Store.
Patrick McGee for Financial Times:
Activist investors secured the commitment from Apple earlier this month, according to three people familiar with the agreement. Last March nearly a third of shareholders at its annual meeting backed a resolution calling for greater transparency in its relations with foreign governments.
Petitioners led by Azzad Asset Management, a faith-based investor in the US, and British activist investment platform Tulipshare had called on Apple to give more detail on why certain apps were pulled from the App Store after some Bible and Koran study tools were inexplicably banned from China in late 2021.
The company has long been criticised for acquiescing to foreign governments’ requests that certain apps be removed. Encrypted messaging tools WhatsApp and Signal are not allowed in China’s App Store, for instance, nor are The New York Times or some social media apps.
It will now give investors more detail about apps that are taken down in its Transparency Report…
MacDailyNews Take: It’s hardly inexplicable: Bible and Koran study tools were banned from Apple’s App Store in China because communism and religion cannot coexist.
https://macdailynews.com/2023/01/12/apple-promises-to-disclose-more-details-about-app-removals-from-app-store/
Apple supplier BOE to invest up to $400 million in new factories in Vietnam
Wednesday, January 11, 2023 12:02 pm
Chinese display maker and Apple supplier BOE Technology Group plans to invest a substantial sum to build two factories in Vietnam, Reuters reports Wednesday citing “two people familiar with the matter.”
The investment may total up to $400 million.
The plan underscores efforts by technology firms led by U.S. iPhone maker Apple and Taiwanese device assembler Foxconn to lower supply chain exposure to China amid trade and geopolitical tension between Beijing and Washington and production disruption caused by China’s COVID-19 containment measures.
BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea’s Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.
Hon Hai Precision Industry Co Ltd (Foxconn) and China’s Luxshare Precision Industry also make or plan to assemble a number of Apple products in the area such as laptop and tablet computers.
MacDailyNews Take: The transfer of eggs out of a single basket in China continues belatedly.
In October 2021, Apple added BOE to its roster of suppliers for 6.1-inch iPhone 13 OLEDs.
https://macdailynews.com/2023/01/11/apple-supplier-boe-to-invest-up-to-400-million-in-new-factories-in-vietnam/
Apple CEO Tim Cook paid $99.4 million in 2022; his 2023 pay will be more dependent on stock performance
Friday, January 13, 2023 11:07 am
Apple CEO Tim Cook was paid a cool $99.4 million in 2022, but his 2023 pay will be more dependent how well the Apple shares perform relative to market peers.
Reuters:
Cook’s compensation for the fiscal 2022 year ended September was $99.4 million, slightly higher than the $98.7 million he received the previous year, the company said in securities filings.
For 2023, Cook’s compensation target was set at $49 million, more than 40% lower than his 2022 pay. Apple made the changes after 64% of shareholders approved Cook’s pay package at its annual meeting last year, down from 94.9% the previous year.
For fiscal 2022, Apple granted him $75 million in stock awards, half of which were based on how well Apple’s shares performed. For fiscal 2023, Cook’s stock award target was reduced to $40 million, with $30 million of the total depending on share performance. If Apple’s shares hit performance thresholds, the $30 million in performance awards could double to at least $60 million.
MacDailyNews Note: One year ago, Apple shares stood at $172.19. They are currently trading at $133.41 for an annualized return of -22.03%.
https://macdailynews.com/2023/01/13/apple-ceo-tim-cook-paid-99-4-million-in-2022-his-2023-pay-will-be-more-dependent-on-stock-performance/
Apple to drop key Broadcom chip in 2025 in favor of in-house Wi-Fi and Bluetooth design
Monday, January 9, 2023 5:25 pm
Apple plans to drop a Broadcom chip used in its devices in 2025 in favor of its own in-house Wi-Fi and Bluetooth chip design, Bloomberg News reports on Monday citing “people familiar with the matter.”
Mark Gurman for Bloomberg News:
As part of the shift, Apple also aims to ready its first cellular modem chip by the end of 2024 or early 2025, letting it swap out electronics from Qualcomm Inc., said the people, who asked not to be identified because the plans are private. Apple had been previously expected to replace the Qualcomm part as soon as this year, but development snags have pushed back the timeline.
Apple is Broadcom’s largest customer and accounted for about 20% of the chipmaker’s revenue in the last fiscal year, amounting to almost $7 billion. Qualcomm got 22% of its annual sales from the iPhone maker, representing nearly $10 billion, though that company has warned for years that its Apple reliance will wane.
The iPhone… helped fuel growth at Broadcom, which refers to Apple as its “large North American customer” during earnings calls. The chipmaker makes a combined component that handles both Wi-Fi and Bluetooth functions on Apple devices.
Apple is developing an in-house replacement for that chip and is aiming to start using it in its devices in 2025, the people said. In addition, it’s already working on a follow-up version that will combine cellular modem, Wi-Fi and Bluetooth capabilities into a single component.
Broadcom still supplies Apple with other components — including radio-frequency chips and ones that handle wireless charging — though the iPhone maker has been working on customizing those parts as well.
MacDailyNews Take: Inevitability.
I’ve always wanted to own and control the primary technology in everything we do. — Steve Jobs
Steve Jobs unveiled the iPhone on this day 16 years ago
Monday, January 9, 2023 4:26 pm
16 years ago (gack!), Apple CEO Steve Jobs unveiled the revolutionary (Jobs was actually underselling something this time) iPhone – it’s an “iPod with touch controls, a phone, and a breakthrough internet communications device” – on January 9, 2007.
Kerry Byrne for Fox News:
“It’s not just the bestselling gadget ever created: It’s probably the most influential one, too,” Wired wrote in a 2018 retrospective of the first decade of the iPhone. “Its influence goes far beyond other phones — the infrastructure that made the iPhone also enabled drones, smart-home gadgets, wearables and self-driving cars.”
“Every once in a while, a revolutionary product comes along that changes everything,” Jobs, dressed in his signature black mock turtleneck, boasted at the Macworld Expo in San Francisco.
Jobs, who died in October 2011 after a long battle with cancer, delivered on the drama.
“These are not three separate devices,” he warned. “These are one device. And we’re calling it the iPhone.”
MacDailyNews Take: And, five years before that – over 20 years ago, omg! – our very own SteveJack eerily predicted the iPhone: Is Apple building ‘The Device?’ – SteveJack, MacDailyNews, December 10, 2002
https://macdailynews.com/2023/01/09/steve-jobs-unveiled-the-iphone-on-this-day-16-years-ago/
MicroStrategy to offer Bitcoin Lightning solutions in 2023
CIARAN LYONS
DEC 29, 2022
MicroStrategy’s Lightning Network solutions include Satoshi-powered incentives for marketing and website cybersecurity.
MicroStrategy executive chairman Michael Saylor has shared his firm’s plans to release Bitcoin Lightning Network-powered software and solutions in 2023.
In a Twitter Spaces event on Dec. 28, Saylor shared that the company is exploring software and solutions that utilize the Lightning Network, such as solutions that “support” enterprise marketing as well as a cybersecurity solution aimed at corporate websites.
The Lightning Network is a layer-2 payment protocol layered on top of Bitcoin’s blockchain that allows for off-chain transactions, raising payment throughput and lowering transaction fees.
A business intelligence and tech company known for its massive Bitcoin holdings, MicroStrategy has been looking to beef up its Lightning Network-versed team, most recently announcing it was looking to hire a software engineer to build a Lightning Network-based software-as-a-service platform.
During the Twitter Spaces conversation, Saylor explained that chief marketing officers could potentially use the Lightning Network to incentivize customers — such as giving out satoshi rewards for engaging in activities such as posting good reviews or completing surveys.
The company also wants to make it possible for any enterprise to “spin up” Lightning infrastructure in an “afternoon,” he said.
The MicroStrategy chairman again made mention of his “Lightning wall” cybersecurity idea, essentially a Bitcoin-based paywall that would protect websites from cybersecurity attacks by requiring visitors to put down a deposit in Satoshi.
Saylor explained that users who want to access sensitive corporate websites would be required to deposit “100,000 satoshi” to “guarantee” safe passage, which would be returned instantly once the user has finished their visit.
He noted this is something that credit cards could not offer due to the time delays involved in getting funds back, stating:
“The problem with credit cards is that you couldn’t reasonably post $20 to 100 websites each day and then you get the $20 back in one second, could you?
Saylor believes it is only a matter of time before someone creates the Lightning version of the “Netscape browser," which he believes will involve “something like” a Lightning wallet that holds dollars and various cryptocurrencies.
He believes that if this wallet is created in a non-custodial way, it has the potential to spread to 100 million people.
During the Twitter Spaces conversation, Saylor again hailed the Lightning Network as the “internet of money” and praised its “inspirational” progress.
He said the company has teams working on it and are looking to bring something out by “next year,” adding that it’s more likely it will be able to show something in the first quarter.
Related: Bitcoin Lightning Network to be used in fiat transfers between Europe and Africa
In October, Michael Saylor retaliated against Eric Wall over his suggestion that Saylor has not made more than three Lightning transactions in his life.
Most recently, a new type of BTC address was introduced. Lightning Addresses allow users to make transactions on the Lightning Network almost instantly, as opposed to the 10-minute average for regular Bitcoin transactions.
https://cointelegraph.com/news/microstrategy-to-offer-bitcoin-lightning-solutions-in-2023
Australia overtakes El Salvador to become 4th largest crypto ATM hub
ARIJIT SARKAR
JAN 01, 2023
El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.
El Salvador, the first country to legalize Bitcoin
BTC, has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023.
As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third-largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022.
On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.
In the last three months of 2022, Australia deployed 99 crypto ATMs, confirms data from CoinATMRadar. As of Jan. 1, 2023, Australia recorded 219 active crypto ATMs, overshadowing El Salvador by 7 ATMs at the time of writing.
Australia represents 0.6% of global crypto ATM installations and, at this rate, is well-positioned to take over Asia’s crypto ATM numbers, which stand at 312 ATMs. The total number of crypto ATMs worldwide is 38,602, out of which 6,071 ATMs were installed in 2022 alone.
Related: Florida best-prepared US state for widespread crypto adoption: Research
Nigeria’s drive to impose the adoption of an in-house central bank digital currency (CBDC) — eNaira — forced the government to limit ATM cash withdrawals to $225 (100,000 nairas) a week.
“Customers should be encouraged to use alternative channels (internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions,” noted Haruna Mustafa, the director of banking supervision, while announcing the drive.
https://cointelegraph.com/news/australia-overtakes-el-salvador-to-become-4th-largest-crypto-atm-hub
Lightning Network gets physical form in Australia with Bitcoin ATM
PRASHANT JHA
JAN 03, 2023
Lightning-enabled Bitcoin ATMs promise to offer instant transaction support and a significant cut in cost from traditional crypto ATMs.
https://cointelegraph.com/news/lightning-network-gets-physical-form-in-australia-with-bitcoin-atm
Coinbase to Lay Off More Workers in Second Round of Cuts
January 10 2023 - 07:42AM
Dow Jones News
By Will Feuer
Coinbase Global Inc. said it is laying off 950 employees to cut costs, another round of job cuts after the cryptocurrency exchange cut its headcount by about 18% last year
In a blog post published Tuesday, Coinbase Chief Executive Brian Armstrong said the crypto industry has been hit by "fallout from unscrupulous actors." He warned that "there could still be further contagion."
"We need to make sure we have the appropriate operational efficiency to weather downturns in the crypto market, and capture opportunities that may emerge," he said.
As of the end of September, Coinbase had about 4,700 employees, up almost 70% from a year earlier, according to a shareholder letter. The latest round of layoffs would affect about 20% of staff, based on that count.
Mr. Armstrong acknowledged the company's round of layoffs in 2022.
"In hindsight, we could have cut further at that time," he said. "While some of the factors that have brought us to this point are beyond our control, accountability rests with me as the CEO."
The company expects operating costs to fall by about 25% from a year ago in the quarter ending March 31, Coinbase said in a securities filing. The company said it expects to incur about $149 million to $163 million as part of a restructuring plan meant to cut costs.
Mr. Armstrong said the company will exit some projects that "have a lower probability of success," and that teams on other projects will continue to operate with fewer employees.
The company remains well capitalized, Mr. Armstrong said, "and crypto isn't going anywhere."
"Over the last decade, Coinbase has made it through multiple bear markets using this process," he said. "This is the first time we've seen a crypto cycle coincide with a broader economic downturn, but otherwise it is similar."...
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/89947431/coinbase-to-lay-off-more-workers-in-second-round-o
Apple’s iPhone exports from India more than double, surpass $2.5 billion
Monday, January 9, 2023 2:23 pm
Apple exported iPhones worth more than $2.5 billion from India from April to December 2022, nearly twice the entire previous fiscal year’s total, underscoring how the company is belatedly working to reduce its dependence on China.
Bloomberg News:
Foxconn Technology Group, known as Hon Hai Precision Industry Co in Taiwan, and Wistron Corp had each shipped more than US$1 billion of Apple’s marquee devices abroad in the first nine months of the fiscal year ending in March, people familiar with the matter said.
Pegatron Corp, another major contract manufacturer for Apple, is on track to move about US$500 million of the gadgets overseas by the end of this month, the people said.
Apple’s rapidly growing export numbers illustrate how it is ramping up operations outside of China, where chaos at Foxconn’s main plant in Zhengzhou exposed vulnerabilities in the Cupertino, California-headquartered company’s supply chain and forced it to trim output estimates.
Apple’s contract manufacturers make iPhones at plants in southern India, but production in the nation is just beginning. About 3 million of the devices were made in India in 2021, compared with 230 million in China, according to Bloomberg Intelligence estimates.
Foxconn began making the iPhone 14 in India a few months ago — sooner than anticipated — after a surprisingly smooth production rollout that slashed the lag between Chinese and Indian output from months to weeks.
MacDailyNews Take: It’s a start.
https://macdailynews.com/2023/01/09/apples-iphone-exports-from-india-more-than-double-surpass-2-5-billion/
Apple hires workers in India as it looks to open first flagship stores
Monday, January 9, 2023 8:41 am
Apple has started hiring retail store workers in India and posted openings for many other roles as the company prepares to open its first flagship retail stores in India as soon as this quarter.
Patrick McGee for Financial Times:
On Friday, Apple’s career page listed openings for 12 different job functions it seeks to fill in “various locations within India,” including technical specialist, business expert, senior manager, store leader and “genius”.
The 12 listings imply hundreds of job openings, as a typical Apple Store has at least 100 employees and flagship locations can have up to 1,000 workers.
Some of the functions on Apple’s website, such as “market leader,” describe managing teams “across Apple Stores,” implying several locations are in the works beyond the widely reported 22,000 square foot location set to open in Mumbai as early as March.
Apple, which did not immediately comment, has not confirmed plans to open its first stores in the country. But in February 2020 CEO Tim Cook told investors Apple Store would expand to India the following year, saying he was not content to leave retail sales to franchise partners.
MacDailyNews Take: Well, this took forever, but looks like Apple Retail Stores in India will finally soon be reality!
https://macdailynews.com/2023/01/09/apple-hires-workers-in-india-as-it-looks-to-open-first-flagship-stores/
Apple to invest $120 million more into building out its Austin campus
Friday, January 6, 2023 2:26 pm
Apple is planning to invest at least another $100 million into building out its new Austin campus, the Austin Business Journal reports Friday.
Cody Baird for Austin Business Journal:
It’s welcome news for a city — and real estate sector — that has been put at risk by big tech employers lately as recession fears loom and the work-from-home model prevails. Facebook is slimming down in Austin, backing out of space it was to take in Austin’s next tallest skyscraper. News of coming layoffs at Amazon.com Inc. and Google Inc. has left many real estate pros on pins and needles.
But Apple (Nasdaq: AAPL) appears to be bucking that trend. Executives did not respond to requests for comment about their new Parmer Lane Campus, but according to a Jan. 6 filing with the Texas Department of Licensing and Regulation, the company plans to begin construction on another large building at the property this year.
The latest construction filing is for a project known as Capstone Phase Two AC09. The scope of the work is for a new, 203,941-square-foot, four-story building core and shell. The project carries an estimated cost of $120 million. Construction is expected to begin Sept. 30 and complete March 30, 2025.
MacDailyNews Note: In November 2019, Apple announced the start of construction on its new campus in Austin, Texas, as part of its broad expansion into the city.
https://macdailynews.com/2023/01/06/apple-to-invest-120-million-more-into-building-out-its-austin-campus/
Apple supplier Luxshare refutes Apple production cut report
Thursday, January 5, 2023 10:19 am
Apple supplier Luxshare said on Thursday its cooperation with current clients was normal, in response to a media report that Apple had asked suppliers to cut production of AirPods, Apple Watches, and MacBooks.
Reuters:
The electronics manufacturer said it wanted to clarify a recent report from a Taiwanese media outlet which said that Luxshare had suffered the biggest impact from the Apple request.
“There are no special changes or impact to the relevant business of the company mentioned in the report,” Luxshare said in its statement. “Currently the company’s cooperation with existing customers is progressing normally and the business is moving forward in an orderly manner according to the work plan.”
A report by Nikkei Asia on Monday citing unnamed suppliers said Apple has told suppliers to manufacture fewer components for its ear buds, watches and laptops as a sluggish global economy and high inflation may be hurting demand for Apple devices.
MacDailyNews Take: Apple always adjusts production to match expected demand in calendar first quarter following the holiday sales period.
Don’t fall for normal operations twisted into “fake news” FUD planted ahead of earnings by fomenting shorts into complicit and/or gullible media outlets.
Instead, use these cases of blatantly obvious FUD as nice entry points in order to profit long term.
See also:
• Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
• Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
• Japan’s Nikkei, The Wall Street Journal blow it, get iPhone demand story all wrong – January 16, 2013
https://macdailynews.com/2023/01/05/apple-supplier-luxshare-refutes-apple-production-cut-report/
Creative Technology CEO Sim Wong Hoo dies suddenly at 67
Thursday, January 5, 2023 9:33 am
Sim Wong Hoo, who founded Creative Technology Ltd. in Singapore before sparring with Apple Inc., has died. He was 67.
Low De Wei for Bloomberg News:
Sim died peacefully on Jan. 4, the company said in a Singapore exchange filing Thursday. “This is a sad and sudden development,” interim CEO Song Siow Hui said in the statement. Song, who was president of the Creative Labs business unit, said the firm will continue to realize its late founder’s vision and strategy.
In 1992, Creative became the first Singaporean company to list shares on the Nasdaq. By 2000, Sim was Singapore’s youngest billionaire. Creative won a $100 million settlement after suing Apple in 2006 for patent infringements over the iPod.
But it couldn’t keep up with giants like Apple.
MacDailyNews Take: R.I.P., Sim Wong Hoo.
https://macdailynews.com/2023/01/05/creative-technology-ceo-sim-wong-hoo-dies-suddenly-at-67/
Apple likely to exclusively offer 3nm chips in 2023 as Android falls even further behind
Wednesday, January 4, 2023 3:04 pm
Apple is likely to be the only major device maker in 2023 to adopt 3nm process technology from TSMC as Android and others fall even further behind.
Sami Fathi for MacRumors:
According to a report by DigiTimes, Qualcomm and MediaTek, two of the largest chip makers, remain unsure on whether they want to follow in Apple’s footsteps and start producing 3nm chips in 2023. The chip makers are reportedly undecided given the “unclear sales prospects for Android handsets.”
Both Qualcomm and MediaTek are “caught in a dilemma over whether to follow Apple’s process upgrade in 2023,” the report notes. Qualcomm provides chips for many high-end Android flagships, including Samsung phones. The report notes that Qualcomm may have no choice but to adopt 3nm process technology if Samsung wants to “meet competition from Apple in the flagship handset market.”
Apple is widely expected to adopt TSMC’s 3nm technology this year, including for the iPhone 15 Pro and ?iPhone 15? Ultra’s A17 Bionic chip.
MacDailyNews Take: Even if they used the 3nm process, Qualcomm et al. cannot compete with Apple Silicon.
https://macdailynews.com/2023/01/04/apple-likely-to-exclusively-offer-3nm-chips-in-2023-as-android-falls-even-further-behind/
Apple’s next-gen CarPlay will launch in 2023 with these 5 key features
Thursday, December 29, 2022 4:39 pm
In June, Apple announced the next generation of CarPlay which will go even further by deeply integrating with a car’s hardware. CarPlay will be able to provide content for multiple screens within the vehicle, creating an experience that is unified and consistent. Deeper integration with the vehicle will allow users to do things like control the radio or change the climate directly through CarPlay, and using the vehicle data, CarPlay will seamlessly render the speed, fuel level, temperature, and more on the instrument cluster.
Users will be able to personalize their driving experience by choosing different gauge cluster designs, and with added support for widgets, users will have at-a-glance information from Weather and Music right on their car’s dashboard. Vehicles with the next generation of CarPlay will start to be announced late in 2023.
Joe Rossignol for MacRumors:
Apple says the first vehicles with support for the next-generation CarPlay experience will be announced in late 2023, with committed automakers including Acura, Audi, Ford, Honda, Jaguar, Land Rover, Mercedes-Benz, Nissan, Porsche, Volvo, and others. Ahead of time, we have recapped five key features to expect from the new version of CarPlay.
• Multi-Display Support
• Instrument Cluster Integration
• Climate Controls
• Widgets
• FM Radio App
MacDailyNews Note: Apple’s CarPlay is currently available in more than 600 models from Abarth to Volvo. Apple conveniently lists all of the CarPlay-capable vehicles here.
https://macdailynews.com/2022/12/29/apples-next-gen-carplay-will-launch-in-2023-with-these-5-key-features/
Related
Apple’s next-gen CarPlay could be a trojan horse into the automotive industry
Friday, July 22, 2022
In "News"
Will automakers really let Apple’s CarPlay take over all the vehicle’s screens?
Thursday, June 9, 2022
In "News"
HARMAN pioneers first-ever wireless integration of Apple CarPlay
Thursday, February 23, 2017
In "News"
Citi’s Jim Suva explains why 2023 will be a good year for Apple stock
Thursday, December 29, 2022 12:58 pm
Jim Suva, Citi senior tech analyst, joins CNBC’s ‘Squawk on the Street’ to explain why he is bullish on Apple in spite of the fact its share price has declined nearly 30 percent this year.
“Their earnings at the end of January will be the next catalyst,” Suva said. “We expect them to talk about… China improving its supply and the COVID supply chain issues starting to lessen.”
“That should set up for a better-than-normal March quarter,” Sava said. “As we look forward to 2023, we see an AR/VR headset coming out, we see them starting to develop more of a foldable phone… that will likely come out in 2024. These things will set up for a good 2023 for Apple stock.”
“At the Fed starts to level out interest rates,” Suva said, “we believe investors will come back to the tech sector overall.”
MacDailyNews Take: It will be very interesting to see how much of a hit Apple took during the quarter from lack of supply due to the CCP’s “Zero COVID” lockdowns and how the market reacts.
https://macdailynews.com/2022/12/29/citis-jim-suva-explains-why-2023-will-be-a-good-year-for-apple-stock/
Apple’s ‘Find My’ network saves woman who plummeted 200 feet into ravine
Wednesday, December 28, 2022 3:44 pm
Apple’s “Find My” network aided in the rescue of a woman who plummeted in her vehicle 200 feet into a ravine following a traffic collision in Southern California.
Julia Musto for Fox News:
The San Bernardino County Fire Department wrote on Facebook Monday that firefighters had been dispatched that day to a reported traffic collision on Highway 18, north of 40th Street.
Three engines, a heavy rescue truck company and one Battalion Chief responded at 6:12 a.m. PT.
The department said crews found a vehicle around 200 feet below the roadway.
Firefighter-paramedics located an adult woman with serious injuries, and crews initiated advanced life support interventions while arriving rescuers set up a rope system to safely raise the victim and rescuers.
“The patient had likely been in her crashed vehicle overnight after leaving a family gathering. Family members became concerned after not speaking with her this morning and utilized Apple’s “Find my iPhone” feature to track her whereabouts. Upon investigating the phone’s location they found the vehicle over the side [and] called 911,” the department said.
MacDailyNews Take: Another one saved!
https://macdailynews.com/2022/12/28/apples-find-my-network-saves-woman-who-plummeted-200-feet-into-ravine/
What to expect from Apple in 2023
Tuesday, December 27, 2022 3:03 pm
In 2022, there were no announcements of a new iMac or Mac Pro; no AirPods Max 2; No M2 Max or Pro MacBook Pros and, probably more predictably, no Apple mixed-reality goggles or “Apple Car.” With that in mind, here’s what we could see from Apple in 2023.
Max Parker for Trusted Reviews:
2023 feels like the year Apple Silicon shifts to the high-end market.
A Mac Pro with an M-series chip could also be joined by an M-series iMac Pro – another product that feels like it’s been rumoured and touted for a while.
Both of these pro-focussed models need a powerful version of the M2 chipset to go with them, so we’ll likely see them both when that is ready.
An M2 version of the more consumer-friendly, and colourful, iMac also seems like a given and we’re a little surprised we didn’t see that this year. Expect refreshes of the 14-inch and 16-inch MacBook Pros too. We might also get a new 15-MacBook Air; the first time Apple has upped the screen size of its most popular laptop.
MacDailyNews Note: Also discussed in the full article are iPads, iPhones, AirPods Max 2, and an Apple mixed-reality headset here.
https://macdailynews.com/2022/12/27/what-to-expect-from-apple-in-2023/
Related
Apple preps M2 Pro / M2 Max iMac Pro and M2 Ultra / M2 Extreme Mac Pro – Gurman
Monday, March 14, 2022
In "News"
Apple’s new M2 14- and 16-inch MacBook Pros, Mac mini, and Mac Pro to debut in 2023
Monday, October 31, 2022
In "News"
Apple’s ‘M2’ chip expected to feature even faster graphics
Monday, February 14, 2022
In "News"
India is shaping up as the right place for Apple to ease China dependence
Tuesday, December 27, 2022 2:07 pm
Apple and, in fact, many western manufacturers are increasingly uncomfortable with their heavy dependence on CCP=-controlled China, especially after its uncompromising and unpredictable “Zero COVID” nonsense over the past year plus.
Megha Mandavia for The Wall Street Journal:
Violent protests at Apple supplier Foxconn’s Zhengzhou factory in November further highlighted the risks of an overly concentrated supply chain.
India, on the other hand, is slated to play a larger role—at least for Apple. Despite its creaky infrastructure and still-frustrating bureaucracy, India’s substantial domestic market and newly robust government support for electronics manufacturing make it well placed to take advantage of a “China plus one” manufacturing strategy.
Apple already assembles the iPhone 11, 12, 13 and 14 in India through three Taiwanese companies— Wistron, Foxconn and Pegatron. And thanks to new iPhone designs that are more modular, plants in India can now produce the iPhone 14 almost simultaneously with plants in China, according to Counterpoint Research. The research firm thinks 18% to 20% of all iPhones globally will be made in India by 2025—up from only around 3% in 2021.
MacDailyNews Take: Vietnam is another point of diversification, but with a much smaller potential labor force than India can offer.
https://macdailynews.com/2022/12/27/india-is-shaping-up-as-the-right-place-for-apple-to-ease-china-dependence/
How to buy Bitcoin [& Ethereum] in Australia?
CHRISTIAAN VOS
1 HOUR AGO
Buying Bitcoin (BTC) in Australia can be done through crypto exchanges, ATMs and by trading with other parties.
More and more people are discovering Bitcoin and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia.
Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies.
Various ways to buy Bitcoin in Australia
If you like to invest in BTC in Australia, there are several ways you can opt for. The most common way is by buying Bitcoin through a crypto exchange. By connecting a bank account, credit or debit card to the crypto exchange, it becomes easy to convert fiat currencies into cryptocurrencies.
Investing in Bitcoin with cash is also possible through a Bitcoin ATM. With more than 200 places where a Bitcoin ATM is located, it can be quite a search to find a crypto ATM in Australia. Oceania’s largest country is not much smaller than the United States, but it has remarkably fewer ATMs. By comparison, the city of Los Angeles, with some 2,000 Bitcoin ATMs, has 10 times as many facilities where it is possible to buy Bitcoin with cash.
In addition to buying on an exchange or through a Bitcoin ATM, there is an option to use peer-to-peer (P2P) exchanges. This way makes it possible to buy Bitcoin directly from a person through a marketplace. However, this way is less well known, but it brings several advantages. For example, P2P exchanges often have more liquidity than traditional exchanges, fees are lower and exchange rates are better.
The fourth way to buy Bitcoin is through over-the-counter (OTC) trading. This way, it is possible to easily buy large amounts of BTC. These transactions are concluded directly between two parties; there is no order book involved. This way of buying Bitcoin is especially popular among wealthy investors and institutional parties who trade Bitcoin for very large amounts of funds.
Bitcoin ATMs in Australia
To convert cash to cryptocurrencies such as BTC, Bitcoin ATMs are the ideal devices to complete this exchange. This is also the only way to convert cash directly to cryptocurrencies. Especially in major cities, such as Sydney and Melbourne, there are many Bitcoin ATMs that can be utilized to buy Bitcoin.
In addition to Bitcoin, it is often possible to buy Ether
ETH and Litecoin LTC at these ATMs. There are even ATMs where XRP
XRP and Dogecoin DOGE can be purchased. These altcoins can only be bought. Selling cryptocurrencies is a lot less common at ATMs. However, there are ATMs where it is possible to both buy and sell Bitcoin.
How to trade Bitcoin in Australia?
It is important to choose a reliable crypto exchange that meets all the requirements and needs of a crypto trader. For example, a cryptocurrency exchange with a good reputation, low fees, a significant user base and a large supply is more attractive than an exchange where trading is expensive and the supply is small.
After choosing a crypto exchange, it’s time to create an account with the exchange in question. By going to a crypto exchange’s homepage and pressing the Register button, the process of creating an account can begin. By providing all requested personal information and setting up two-factor authentication, the account is ready to use.
To ensure that the customers are genuine when the account was created, they must verify their identity. Most exchanges use a Know Your Customer (KYC) process, which requires customers to reveal their identity. This may involve uploading a copy of the person’s government-issued ID and proof of residence.
After creating an exchange account is fully completed, it is time to provide the exchange account with funds. This can often be funded through your bank account or credit card so that the account is endowed with fiat currency and ready for trading on the crypto market.
Trading Bitcoin can begin by placing an order on the exchange. It is possible to buy or sell Bitcoin at a specific price or to place a limit order to execute a transaction when the price reaches a certain level.
Once Bitcoin is bought, it is important to keep an eye on the price. Keep an eye on the market and monitor trades. Most cryptocurrency exchanges allow alerts to be set up, which go off when the price of Bitcoin reaches a certain level.
Australia-based Bitcoin exchange
Residents of Australia can use a lot of different crypto exchanges, including well-known platforms like Crypto.com and Coinbase. Major exchanges like these have millions of users and a large selection of cryptocurrencies, but what are the crypto exchanges to buy Bitcoin in Australia?
There are also several cryptocurrency exchanges based in Australia. Each exchange has its own fees, services and assortment. Therefore, it is wise to research exchanges well before choosing one. The following are the available options when looking for an Australian cryptocurrency exchange:
* ZenGo
* Swyftx
* CoinSpot
* BTC Markets
* Independent Reserve
Does Binance work in Australia?
It is also possible for Australians to use Binance for cryptocurrency trading. Tens of millions of crypto investors buy their cryptocurrencies here and use Binance’s services, such as crypto staking or margin trading. With more than 600 different tokens in their range, this platform is of interest to many investors.
To use Binance for Bitcoin trading in Australia, an account will first have to be created on the platform and then the verification process must be completed. This may involve uploading a copy of your government-issued ID and proof of residence. Once the account is verified, it is possible to fund it with a supported payment method and start buying and selling cryptocurrency.
How to store Bitcoin in Australia?
When investing in Bitcoin, not only is the method of buying important, but also the way the cryptocurrencies are stored. Like fiat currencies, digital currencies can be stolen, so that's why it’s important to protect the Bitcoin investment as best as possible. There are several crypto wallets that can be used, each of which has its own advantages and disadvantages.
Many beginner crypto investors use an exchange wallet. This is the wallet used when trading on an exchange. This is the easiest way to store cryptocurrencies,but also the riskiest medium. With an exchange wallet, the private keys and seed phrase are owned by the exchange itself, so the crypto investor has no control over the cryptocurrencies in the exchange wallet.
This is why a software wallet is considered a better option. Crypto investors who use a software wallet own private keys and, therefore, have full control over their own coins. Do not share this code with anyone, as this is a unique key that opens the door to the cryptocurrencies in the wallet. Software wallets are available as desktop wallets and mobile wallets, allowing users to use their cryptocurrencies anytime and anywhere.
However, software wallets are not considered the most secure option because tokens are stored online. The most reliable crypto wallet is a hardware wallet. Hardware wallets are physical devices that store Bitcoin and altcoins offline. They offer an extra layer of security because they are not connected to the internet. As a result, hardware wallets are less vulnerable to hacking.
Bitcoin taxes Australia: How much tax on Bitcoin profits?
In Australia, Bitcoin and other cryptocurrencies are treated as property for tax purposes. This means that buying, selling and trading causes capital gains tax to potentially be paid. This tax must be paid on the profits made.
The Australian Taxation Office (ATO) has issued guidance on the tax treatment of Bitcoin and other cryptocurrencies. According to the ATO, Bitcoin transactions are subject to capital gains tax if the Bitcoin has been owned for more than 12 months. For investors, who have owned Bitcoin for less than 12 months, profits are being treated as ordinary income.
In addition to tax regulations, the Australian Securities and Investments Commission (ASIC) has issued guidance on the use of Bitcoin and other cryptocurrencies in the country. According to ASIC, Bitcoin and other cryptocurrencies are not legal tender in Australia and are not regulated by the government. However, companies dealing in Bitcoin and other cryptocurrencies may be required to hold an Australian Financial Services Licence (AFS).
https://cointelegraph.com/news/how-to-buy-bitcoin-in-australia
How to buy Bitcoin in Australia?
CHRISTIAAN VOS
1 HOUR AGO
Buying Bitcoin (BTC) in Australia can be done through crypto exchanges, ATMs and by trading with other parties.
More and more people are discovering Bitcoin and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia.
Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies.
Various ways to buy Bitcoin in Australia
If you like to invest in BTC in Australia, there are several ways you can opt for. The most common way is by buying Bitcoin through a crypto exchange. By connecting a bank account, credit or debit card to the crypto exchange, it becomes easy to convert fiat currencies into cryptocurrencies.
Investing in Bitcoin with cash is also possible through a Bitcoin ATM. With more than 200 places where a Bitcoin ATM is located, it can be quite a search to find a crypto ATM in Australia. Oceania’s largest country is not much smaller than the United States, but it has remarkably fewer ATMs. By comparison, the city of Los Angeles, with some 2,000 Bitcoin ATMs, has 10 times as many facilities where it is possible to buy Bitcoin with cash.
In addition to buying on an exchange or through a Bitcoin ATM, there is an option to use peer-to-peer (P2P) exchanges. This way makes it possible to buy Bitcoin directly from a person through a marketplace. However, this way is less well known, but it brings several advantages. For example, P2P exchanges often have more liquidity than traditional exchanges, fees are lower and exchange rates are better.
The fourth way to buy Bitcoin is through over-the-counter (OTC) trading. This way, it is possible to easily buy large amounts of BTC. These transactions are concluded directly between two parties; there is no order book involved. This way of buying Bitcoin is especially popular among wealthy investors and institutional parties who trade Bitcoin for very large amounts of funds.
Bitcoin ATMs in Australia
To convert cash to cryptocurrencies such as BTC, Bitcoin ATMs are the ideal devices to complete this exchange. This is also the only way to convert cash directly to cryptocurrencies. Especially in major cities, such as Sydney and Melbourne, there are many Bitcoin ATMs that can be utilized to buy Bitcoin.
In addition to Bitcoin, it is often possible to buy Ether
ETH and Litecoin LTC at these ATMs. There are even ATMs where XRP
XRP and Dogecoin DOGE can be purchased. These altcoins can only be bought. Selling cryptocurrencies is a lot less common at ATMs. However, there are ATMs where it is possible to both buy and sell Bitcoin.
How to trade Bitcoin in Australia?
It is important to choose a reliable crypto exchange that meets all the requirements and needs of a crypto trader. For example, a cryptocurrency exchange with a good reputation, low fees, a significant user base and a large supply is more attractive than an exchange where trading is expensive and the supply is small.
After choosing a crypto exchange, it’s time to create an account with the exchange in question. By going to a crypto exchange’s homepage and pressing the Register button, the process of creating an account can begin. By providing all requested personal information and setting up two-factor authentication, the account is ready to use.
To ensure that the customers are genuine when the account was created, they must verify their identity. Most exchanges use a Know Your Customer (KYC) process, which requires customers to reveal their identity. This may involve uploading a copy of the person’s government-issued ID and proof of residence.
After creating an exchange account is fully completed, it is time to provide the exchange account with funds. This can often be funded through your bank account or credit card so that the account is endowed with fiat currency and ready for trading on the crypto market.
Trading Bitcoin can begin by placing an order on the exchange. It is possible to buy or sell Bitcoin at a specific price or to place a limit order to execute a transaction when the price reaches a certain level.
Once Bitcoin is bought, it is important to keep an eye on the price. Keep an eye on the market and monitor trades. Most cryptocurrency exchanges allow alerts to be set up, which go off when the price of Bitcoin reaches a certain level.
Australia-based Bitcoin exchange
Residents of Australia can use a lot of different crypto exchanges, including well-known platforms like Crypto.com and Coinbase. Major exchanges like these have millions of users and a large selection of cryptocurrencies, but what are the crypto exchanges to buy Bitcoin in Australia?
There are also several cryptocurrency exchanges based in Australia. Each exchange has its own fees, services and assortment. Therefore, it is wise to research exchanges well before choosing one. The following are the available options when looking for an Australian cryptocurrency exchange:
* ZenGo
* Swyftx
* CoinSpot
* BTC Markets
* Independent Reserve
Does Binance work in Australia?
It is also possible for Australians to use Binance for cryptocurrency trading. Tens of millions of crypto investors buy their cryptocurrencies here and use Binance’s services, such as crypto staking or margin trading. With more than 600 different tokens in their range, this platform is of interest to many investors.
To use Binance for Bitcoin trading in Australia, an account will first have to be created on the platform and then the verification process must be completed. This may involve uploading a copy of your government-issued ID and proof of residence. Once the account is verified, it is possible to fund it with a supported payment method and start buying and selling cryptocurrency.
How to store Bitcoin in Australia?
When investing in Bitcoin, not only is the method of buying important, but also the way the cryptocurrencies are stored. Like fiat currencies, digital currencies can be stolen, so that's why it’s important to protect the Bitcoin investment as best as possible. There are several crypto wallets that can be used, each of which has its own advantages and disadvantages.
Many beginner crypto investors use an exchange wallet. This is the wallet used when trading on an exchange. This is the easiest way to store cryptocurrencies,but also the riskiest medium. With an exchange wallet, the private keys and seed phrase are owned by the exchange itself, so the crypto investor has no control over the cryptocurrencies in the exchange wallet.
This is why a software wallet is considered a better option. Crypto investors who use a software wallet own private keys and, therefore, have full control over their own coins. Do not share this code with anyone, as this is a unique key that opens the door to the cryptocurrencies in the wallet. Software wallets are available as desktop wallets and mobile wallets, allowing users to use their cryptocurrencies anytime and anywhere.
However, software wallets are not considered the most secure option because tokens are stored online. The most reliable crypto wallet is a hardware wallet. Hardware wallets are physical devices that store Bitcoin and altcoins offline. They offer an extra layer of security because they are not connected to the internet. As a result, hardware wallets are less vulnerable to hacking.
Bitcoin taxes Australia: How much tax on Bitcoin profits?
In Australia, Bitcoin and other cryptocurrencies are treated as property for tax purposes. This means that buying, selling and trading causes capital gains tax to potentially be paid. This tax must be paid on the profits made.
The Australian Taxation Office (ATO) has issued guidance on the tax treatment of Bitcoin and other cryptocurrencies. According to the ATO, Bitcoin transactions are subject to capital gains tax if the Bitcoin has been owned for more than 12 months. For investors, who have owned Bitcoin for less than 12 months, profits are being treated as ordinary income.
In addition to tax regulations, the Australian Securities and Investments Commission (ASIC) has issued guidance on the use of Bitcoin and other cryptocurrencies in the country. According to ASIC, Bitcoin and other cryptocurrencies are not legal tender in Australia and are not regulated by the government. However, companies dealing in Bitcoin and other cryptocurrencies may be required to hold an Australian Financial Services Licence (AFS).
https://cointelegraph.com/news/how-to-buy-bitcoin-in-australia
Apple Silicon-supplier TSMC celebrates start of 3nm mass production
Tuesday, December 27, 2022 12:01 pm
Apple Silicon-supplier Taiwan Semiconductor Manufacturing Co. (TSMC) will hold a ceremony on December 29th to celebrate the start of mass production using its 3nm process.
Chang Chien-chung and Frances Huang for Focus Taiwan:
At the ceremony, TSMC will celebrate the placing of the last beam at the new facility — an event known as a “topping out” — for the launch of the 3nm process at Fab 18 located in the Southern Taiwan Science Park, Tainan. It will also detail plans to further expand 3nm production at the facility in the coming years. Currently, TSMC mass produces chips made using the 5nm process at Fab 18.
It is unusual for TSMC to hold a ceremony to mark the beginning of commercial production of a new technology. Market analysts speculate that the company is holding the ceremony to publicize its intention to keep using Taiwan as a hub for research, development and production, despite its overseas investments.
Suspicion has risen that TSMC could relocate its production and R&D efforts to the United States after the chipmaker said at a first tool-in ceremony for a 12-inch wafer plant in the U.S. state of Arizona on Dec. 6 that it would increase its planned US$12 billion investment in Arizona to US$40 billion to build not only a 4-nanometer fab scheduled to begin production in 2024 but also a 3nm fab scheduled to begin operations in 2026.
MacDailyNews Take: With Taiwan constantly under threat from Chinese Communist Party-controlled China, it makes perfect sense for TSMC to diversify points of production and not have it centralized in risky Taiwan.
With the move to 3nm, expect even crazier performance and even longer battery life from future Apple Silicon!
https://macdailynews.com/2022/12/27/apple-silicon-supplier-tsmc-celebrates-start-of-3nm-mass-production/
Analyst: LG would be a good ‘Apple Car’ partner
Friday, December 23, 2022 10:13 am
South Korea’s LG Group would make a good partner for Apple as it works to make an electric smart car of its own, an analyst at KB Securities Co. wrote in a note Friday.
Heejin Kim for Bloomberg News:
“Apple should start shaping its own supply chain for EVs next year if it plans to sell a new car in 2026,” Kim Dong-Won wrote, with reference to a Bloomberg story earlier this month that said Apple has scaled back its ambitious self-driving plans and postponed the car’s target launch date by about a year, according to people with knowledge of the matter.
There’s the possibility for a “partnership with LG Group, which has a full line-up for EV components,” Kim said.
KB Securities’ commentary also follows a local media report Thursday that said Apple has proposed cooperating with LG Group and LG Group has started forming an internal team to work on any collabora-tion, including staff from cell maker LG Energy Solution Ltd., auto parts maker LG Electronics Inc., and camera-module manufacturer LG Innotek Co.
MacDailyNews Note: Back in April 2021, LG’s joint venture with Canada-based automotive supplier Magna International — LG Magna e-Powertrain — was reported to be “very near” to signing contracts with Apple to build its first electric vehicle (EV) models, The Korea Times reported citing “a source familiar with the issue.”
https://macdailynews.com/2022/12/23/analyst-lg-would-be-a-good-apple-car-partner/
Related
Apple Car said to enter production with Magna assembly and LG electric powertrain
Wednesday, April 14, 2021
In "News"
Apple reportedly in talks with South Korean manufacturers for Apple Car
Monday, August 9, 2021
In "News"
Dueling headlines: WSJ’s ‘LG Display Gets Boost from Apple’ vs. Reuters’ ‘Slowdown in Apple orders weighs on LG Display’s first-quarter profit’
Monday, April 22, 2013
In "News"
Apple Japan hit with $98 million in back taxes
Tuesday, December 27, 2022 9:03 am
Apple’s Japan unit is being charged 13 billion yen (US$98 million) in additional taxes for bulk sales of iPhones and other Apple devices to foreign tourists that were incorrectly exempted from the country’s consumption tax, Nikkei Asia reported Tuesday.
Tomoshizu Kawase and Konori Fujita for Nikkei Asia:
Bulk purchases of iPhones by foreign shoppers were discovered at some Apple stores, a source said. At least one transaction involved an individual buying hundreds of handsets at once, suggesting that the store missed taxing a possible reseller.
Japan’s tax-free shopping allows visitors staying for less than six months to buy items such as souvenirs or everyday goods without paying the 10% consumption tax, but this exemption does not apply to purchases for resale purposes.
Apple Japan is believed to have filed an amended tax return. The company also voluntarily stopped offering tax-free shopping in June…
The unusually large back tax charge underscores a glaring loophole in Japan’s unique tax-free shopping rules.
Tax-exempt purchases of consumables such as cosmetics or pharmaceuticals are limited to 500,000 yen, but no cap exists for general goods like home electronics.
MacDailyNews Take: Seems like a loophole that ought to be closed if, for nothing else, the sake of consistency.
https://macdailynews.com/2022/12/27/apple-japan-hit-with-98-million-in-back-taxes/
Here’s what likely killed the Apple – NFL Sunday Ticket deal
Thursday, December 22, 2022 9:37 am
Apple has reportedly given up its quest to land exclusive rights to NFL Sunday Ticket, a subscription-only package that allows viewers to watch all out-of-market Sunday afternoon NFL games. Alphabet subsidiary YouTube is now thought to be the frontrunner to land the deal.
Daniel Kaplan for The Athletic:
[I]t had appeared for some time it would be Apple that would take the popular Sunday Ticket fully into the digital universe (incumbent DirecTV did allow streaming in areas where its satellite dishes were infeasible). The NFL longed to be in business with arguably the globe’s most important company and spent much of the past year trying to make that happen. And the deal seemed like a natural for Apple, which is trying to grow Apple TV Plus.
There are some obvious answers. Apple reportedly wanted to pay less than the NFL sought so it could offer the product at lower prices than incumbent DirecTV, but the NFL’s contracts with Fox and CBS disallowed that…
Apple and the NFL also could not agree on whether the company would get the right to distribute Sunday Ticket on as yet non-existent platforms. Apple is heavily investing in virtual reality and augmented reality, nascent platforms in which sports are so far largely not viewed. As a result, Apple wanted what is dubbed known and unknown rights, individuals familiar with the NFL and Apple said. In other words, there is no known virtual reality market for Sunday Ticket, but there might be one day.
Imagine a virtual reality device offering fans a Sunday Ticket experience where it is as if they are viewing from the 50-yard line seats, said Tom Richardson, senior vice president of Mercury Intermedia and an adjunct professor at Columbia University’s sports management program. Such a platform might seem a long way off, but Richardson said it could be coming in the next 24 months.
MacDailyNews Take: It’s likely that the NFL considers AR/VR (mixed-reality) as a future media category that they can sell in a separate rights deal, in which case, Apple might still be considered a very interested party.
https://macdailynews.com/2022/12/22/heres-what-likely-killed-the-apple-nfl-sunday-ticket-deal/
Apple Retail Stores offering free two-hour delivery on last-minute Christmas gifts
Thursday, December 22, 2022 11:08 am
If you are looking to purchase some last-minute Christmas gifts, Apple’s retail stores are now offering free two-hour delivery on eligible, in-stock products — iPhone, iPad, Mac, Apple Watch, AirPods, and Apple TV — in select countries.
Joe Rossignol for MacRumors:
Free two-hour delivery is available in most U.S. metro areas for orders placed through Apple’s online store by 12:00 p.m. local time on December 24. The items will be delivered from a local Apple retail store by a courier such as Postmates at a time selected during checkout. Apple normally charges $9 for two-hour delivery.
Apple is also offering free two-hour delivery in select areas of Canada, France, Spain, and the UK, along with free three-hour delivery in Australia.
MacDailyNews Take: Good luck, last-minute shoppers!
https://macdailynews.com/2022/12/22/apple-retail-stores-offering-free-two-hour-delivery-on-last-minute-christmas-gifts/