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Apple stock gets fresh buy point ahead of ‘Far out’ September 7th event
Wednesday, August 24, 2022 6:20 pm
Apple is the Investor’s Business Daily (IBD) “Stock Of The Day” as the company prepares to unveil its new iPhone 14 and Apple Watch Series 8 at a product launch on September 7th.
Meanwhile, Apple stock has set a new, lower buy point amid the recent market pullback.
Patrick Seitz for Investor’s Business Daily:
Apple stock is in a 34-week consolidation pattern with a buy point of 183.04, according to IBD MarketSmith charts. That buy point is 10 cents above the stock’s all-time high of 182.94 reached on Jan. 4, based on IBD trading guidelines.
However, with a recent retreat in the shares, Apple stock has formed a handle with a new buy point of 176.25.
Aggressive investors also could have picked up Apple stock after a bullish bounce off its 21-day line.
Apple stock has an IBD Composite Rating of 91 out of 99, according to IBD Stock Checkup. IBD’s Composite Rating is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths. The best growth stocks have a Composite Rating of 90 or better.
MacDailyNews Note: More info and charts in the full article here.
https://www.investors.com/research/ibd-stock-of-the-day/apple-stock-gets-fresh-buy-point-ahead-of-iphone-14-reveal/
https://macdailynews.com/2022/08/24/apple-stock-gets-fresh-buy-point-ahead-of-far-out-september-7th-event/
Apple said to be focusing on premium iPhone 14 Pro Max production
Monday, August 22, 2022 2:44 pm
Apple is reportedly focusing on production of the flagship, and premium-priced, 6.7-inch iPhone 14 Pro Max, a move which bodes well for iPhone’s Average Selling Price (ASP).
José Adorno for 9to5Mac:
Panel shipments indicate that Apple is focusing on the iPhone 14 Pro Max and iPhone 14 Pro production for when it announces the new smartphones three weeks from now, according to data shared by display analyst Ross Young. In addition, the company expects the regular models to account for higher sales after the event, especially the iPhone 14 Max.
DSCC Ross Young shared for his Super Followers on Twitter that, from June to September, iPhone 14 Pro Max [and iPhone 14 Pro [have] the highest share of panel productions with a 29% and 28% share respectively.
During this quarter, the iPhone 14 Max had the smallest share at 21% of production and 19% of shipments, although Young expects this phone to “make up a lot of ground in September.”
As usual, die-hard customers will focus on buying the Pro line, especially with the bigger iPhone 14 Pro Max version, followed by the iPhone 14 Pro, just after the September event.
MacDailyNews Take: On Friday, KeyBanc Capital Markets analyst Brandon Nispel wrote in a note to clients that demand continues to remain skewed towards the iPhone 13 Pro Max and iPhone 13 Pro models while demand for the iPhone SE and iPhone mini is “muted,” despite continued promotions for those lower-end / smaller models. Obviously, Apple expects this iPhone mix to at least continue, and possibly grow even stronger, as customers seek out the very best iPhones available.
https://macdailynews.com/2022/08/22/apple-said-to-be-focusing-on-premium-iphone-14-pro-max-production/
Apple assembler Foxconn to invest $300 million more in Vietnam production
Monday, August 22, 2022 9:17 am
Vietnam state media said this weekend that Apple assembler Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production.
Reuters:
The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac Giang province, will generate 30,000 local jobs, the Tuoi Tre newspaper said.
The move follows a report this week that Foxconn has started test production of the Apple Watch in northern Vietnam. read more
Foxconn, which has been in Bac Giang for 15 years, has moved part of its iPad and AirPods production to Bac Giang’s Quang Chau Industrial Park, Tuoi Tre reported. It did not say which type of products would be produced at the new factory or its capacity.
MacDailyNews Note: Apple is reportedly in talks to produce MacBooks, Apple Watches, and HomePods and MacBooks in Vietnam. Vietnam already produces some of Apple’s AirPods and the company reportedly began to move some iPad production to the country in June. More info here.
https://macdailynews.com/2022/08/22/apple-assembler-foxconn-to-invest-300-million-more-in-vietnam-production/
Steve Jobs’ Apple-1, hand-soldered by Woz, auctioned for nearly $700K
Friday, August 19, 2022 5:15 pm
An authenticated Apple-1 computer prototype from the mid-1970s, used by Apple co-founder and hand-soldered by Apple co-founder Steve Wozniak, has sold at auction for nearly $700,000.
The Associated Press:
The prototype was used by Apple co-founder Steve Jobs in 1976 to demonstrate the Apple-1 to Paul Terrell, owner of The Byte Shop in Mountain View, California, one of the first personal computer stores in the world, Boston-based RR Auction said in a statement.
A Bay Area collector who wishes to remain anonymous made the winning $677,196 bid on Thursday, the auctioneeer said.
“There is no Apple-1 without this board — it’s the holy grail of Steve Jobs and Apple memorabilia,” said Bobby Livingston, RR’s executive vice president.
MacDailyNews Take: Even cracked in half, this one-of-a-kind board fetched 2/3rd of a million bucks!
https://macdailynews.com/2022/08/19/steve-jobs-apple-1-hand-soldered-by-woz-auctioned-for-nearly-700k/
Virtual Battery Metals Investor Conference
Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with
projects in Greenland and Finland, announces that Bo Møller Stensgaard, CEO, will be presenting at the
Virtual Battery Metals Investor Conference on Tuesday August 23rd at 4:00 - 4:30pm ET (9:00 – 9:30pm
BST).
This will be a live, interactive online event where investors are invited to ask the Company questions in
real-time.
Notes
Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the
OTCQB Market in the US. With multiple projects in Greenland and Finland, Bluejay has now secured three
globally respected entities as partner, customer, and co-investor on three of its projects, giving the
Company and its shareholders both portfolio and commodity diversification in high quality jurisdictions.
Bluejay has signed a definitive joint venture agreement with KoBold Metals to guide exploration for new
deposits rich in the critical materials for electric vehicles (The Disko-Nuussauq Project). Principal investors
in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and
whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include
Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian stateowned multinational energy company.
Bluejay’s most advanced project is the Dundas Ilmenite Project in Greenland, which is fully permitted and
being developed towards production in the near term, with preparatory activities scheduled to commence
in 2022. The Dundas Ilmenite Project has a Mineral Resource reported in accordance with the JORC Code
of 117Mt at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of
ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ. The Company has agreed a
Master Distribution Agreement with a major Asian conglomerate for up-to 340ktpa of its anticipated
440ktpa annual output. The Company's strategy is focused on securing financing ahead of commencing
commercial production at Dundas and has appointed a Global Investment Bank as the lead arranger. This
strategy will create a company capable of self-funding exploration on its current and future projects.
Bluejay holds two additional projects in Greenland - the 692sq km Kangerluarsuk zinc-lead- silver project
('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver
and identified four large-scale drill ready targets; and the 2,025 sq km Thunderstone project which has
the potential to host large-scale base metal and gold deposits. Bluejay also has a joint-venture agreement
with a mining major at Enonkoski in Finland and has recently signed a binding agreement for a partial
divestment in a fourth Finnish project.
**ENDS**
https://www.otcmarkets.com/stock/BLLYF/news/Virtual-Battery-Metals-Investor-Conference?id=369385
Why Bitcoin Is Cheap At $23,000, Says Fidelity Expert
by Reynaldo Marquez 1 day ago in Bitcoin Reading Time: 2 mins read
Bitcoin has been pushed down further over today’s trading session and approaches critical levels of support. The first crypto by market cap gave back all the profits from last week rallied and has been moving in the red over the past 24 hours.
At the time of writing, Bitcoin (BTC) trades at $23,400 with sideways movement in the past day and a 2% loss over the past 7 days.
Director of Macro for investment firm Fidelity Jurrien Timmer believes long-term Bitcoin investors have an opportunity to increase their holdings at current levels. Via his Twitter account, the expert claims Bitcoin is cheap as he explored the cryptocurrency’s price versus value chart.
Timmer’s bullish thesis is based on BTC’s adoption curve and the likely scenario where this curve will continue to trend to the upside and increase the underlying value of the cryptocurrency. As seen below, there is a direct relationship between BTC’s adoption and its price.
The chart below ( at link below) shows the BTC price/network ratio, how Bitcoin reacts to more adoption, and its price. The former metric trended lower than BTC’s price until it was able to break above a critical resistance zone and turn into support.
Bitcoin has been moving on that support for over a month, coinciding with BTC’s price reaching a yearly low of around $17,700. As the chart above shows, these levels have historically operated well as resistance/support and hint at BTC’s price forming a bottom around that area.
Timmer said the following on BTC’s capacity to continue appreciating in the long term:
Bitcoin’s price-to-network ratio (my proxy for a valuation multiple) is back to 2014 levels. Meanwhile, its network continues to grow, roughly in line with a power regression curve. For me, the main nuance is the slope of the adoption curve. Whether we use the mobile-phone curve or internet curve as proxies, Bitcoin’s price is below its actual and projected network-growth curve (…).
Who Is Buying Bitcoin At Its Current Levels?
If Timmer’s predictions are correct, the price of Bitcoin should trend higher and reach an all-time high of $100,000 by 2050 as more people adopt it, and its circulating supply decreases. This could push BTC’s price near $1 million by 2030.
Timmer also compared BTC’s price to Gold and concluded that the cryptocurrency experienced its “biggest oversold condition in years”. This supports the expert’s theory that BTC’s price might have found a solid bottom on higher timeframes.
Additional data from Timmer records an increase in the number of BTC Holders. 13% of the cryptocurrency’s total supply has entered the 10-year unspent period with more and more people buying it in the long run.
Who is buying Bitcoin these days? Apparently not the tourists (i.e., short-term holders). The percentage of Bitcoins held less than three months has barely budged lately. /5 pic.twitter.com/fKpvbEhE89
— Jurrien Timmer (@TimmerFidelity) August 17, 2022
https://www.newsbtc.com/news/bitcoin/why-bitcoin-is-cheap-at-23000-says-fidelity-expert/
PSA: If you haven’t already, update your Mac, iPhone, and iPad
Friday, August 19, 2022 8:50 am
Apple has released operating system updates to fix a security issue with its Mac, iPhone, and iPad computers, which it says hackers may have “actively exploited.”
Tom Gerken for The Beeb:
The flaw could allow hackers to take complete control of affected devices, industry experts have suggested.
The update has been made available to iPhone 6s and later, iPad Pro, iPad Air 2 and later and iPad 5th gen. and later.
It is also available to the iPad mini 4 and later versions and the iPod touch (7th generation). Mac users running macOS Monterey are also being encouraged to update.
Apple said hackers used the flaw to infiltrate WebKit, the engine that powers Apple web browser Safari. The technology company said the exploit could be used by hackers if the user accessed “maliciously-crafted web content.”
There have so far been no confirmed reports of specific cases where the security flaw has been used against people or devices.
MacDailyNews Take: Again, if you haven’t already, update your Mac, iPhone, and iPad to macOS Monterey 12.5.1, iOS 15.6.1, and iPadOS 15.6.1, respectively.
https://macdailynews.com/2022/08/19/psa-if-you-havent-already-update-your-mac-iphone-and-ipad/
BofA: Apple has the potential to trade in the $230s
Friday, August 19, 2022 4:16 pm
BofA sees potential for Apple to trade to the $230s, representing potential upside of more than 30%, even after significantly outperforming the S&P 500 amid the rally from the mid-June depths.
Matthew Fox for Business Insider:
The most valuable company in the world could soon see big gains ahead if it continues to outperform the broader stock market.
That’s according to Bank of America analyst Stephen Suttmeier, who said in a Wednesday note that Apple has a bullish technical setup that could send the stock to above $230, representing potential upside of more than 30% from current levels.
Suttmeier’s favorable outlook on Apple is based on the stock hitting a new relative all-time high when measured against the S&P 500. The relative outperformance of Apple against the broader market has been impressive since the June 17 low, with Apple up 31%, more than double the S&P 500’s gain of 15%…
[I]f Apple stock can break above its December 2021 peak of around $183, Suttmeier expects a measured move price objective in the $230s for the iPhone maker.
MacDailyNews Take: Technical, schmechnical.
Apple has the potential to trade well beyond the $230s. iCal it.
Buy and hold. AAPL longs will be rewarded handsomely (as many already have).
https://macdailynews.com/2022/08/19/bofa-apple-has-the-potential-to-trade-in-the-230s/
Bitcoin Price Gears Up For Another Rally After Testing $25,000
by Best Owie 10 hours ago in BTC Reading Time: 3 mins read
Bitcoin price has been bouncing up and down over the last couple of weeks, but the digital asset has finally found its direction. With this recent recovery, the price of bitcoin has made its way to sit comfortably above $24,000 presently. The digital asset had tested one of the most coveted spots on Sunday but had sadly been rejected. That has not stopped it, though, as bitcoin is gearing up for another rally towards $25,000.
$25,000 For Bitcoin Price
After touching $25,000 on Sunday, the bitcoin price had taken a swift beating down. This led to an inevitable slump below $24,000 but would prove to only last for a short time. After being pushed back down, bitcoin was able to find support just below $24,000 and used that as a bounce-off point to regain strength above the technical level.
Even with the decline, it had been able to hold well above the 50-day moving average, thereby keeping its bullish trend on track. What this shows is that bitcoin is not ready to give up the fight at $25,000 just yet. Instead, it is expected that another test of this resistance level will happen on Monday.
This is all happening ahead of the US trading hours, so it is expected that once this side of the world begins trading activities, then there will be another push upward. Additionally, bitcoin’s ability to quickly recover above $24,000 shows significant strength on the 24-hour chart.
The next resistance for bitcoin’s price is currently sitting at $24,765. However, at this point, there is not much support for the bears, so the price is likely to have an easy breakthrough here. The main level to beat still remains $25,000.
Investors Are Bullish
The bullish sentiment among investors in cryptocurrencies such as bitcoin remains on the rise. The Fear & Greed Index hitting its highest level of 47 on Sunday shows as much. Translating this to the performance of bitcoin over time, shows that the rally is far from over.
Such trends run till the index reads well into the extreme greed territory before a reversal is seen. So if historical movements are anything to go by, it could take a couple of weeks for investors’ sentiment to peak, and by then, the possibility of bitcoin getting close to $30,000 remains high.
It is also seen in the exchange net flows for the past day. Bitcoin had seen more inflows, but this had turned on Friday when outflows had surpassed inflows, indicating that investors were actually accumulating the digital asset.
If this accumulation trend continues, bitcoin is likely to gather enough strength to balance well above $25,000. Once this point is beaten, the next important technical level lies at $28,000, given that this was the cycle low for 2021.
https://www.newsbtc.com/analysis/btc/bitcoin-price-gears-up-for-another-rally-after-testing-25000/
19 celebrities called out by consumer watchdog group for shilling NFTs
STEPHEN KATTE
38 MINUTES AGO
Consumer watchdog group Truth in Advertising says celebrities promoting non-fungible tokens (NFTs) on their social media channels is an area "rife with deception."
Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects.
The not-for-profit consumer advocacy organization said on their website they investigated "celebrities who promote non-fungible tokens (NFTs) on their social media channels", finding that "it is an area rife with deception."...
https://cointelegraph.com/news/19-celebrities-called-out-by-consumer-watchdog-group-for-shilling-nfts
Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge
by Best Owie 4 hours ago in Ethereum Reading Time: 3 mins read
The Ethereum deposit staking contract has seen increased interest since developers announced that the Merge is likely to happen next month in September. This move to proof of stake will see miners be flushed out in favor of validators who earn rewards for staking their ETH, and more investors want to take advantage of this. This has seen Ethereum hit new milestones, while the most recent one has to do with the amount of ETH staked.
Staked ETH Crosses 13.3 Million
Staked ETH on the Ethereum network has now reached a new milestone of 13.3 million. This number has been a long time in the making and has recorded tremendous growth since the announcement about a month ago. The contract now sits at a whopping 13.308 million ETH now staked, rising with each passing day.
The total number of ETH now staked accounts for about 11% of the total supply. This means that 11% of Ethereum’s available supply has been rendered unmovable for the foreseeable future. As expected, this has had a big impact on the price since scarcity equals higher value. Ethereum had been able to cross $2,000 for the first time in more than 2 months.
The anticipation around the Merge has turned into a ‘buy the news’ event. More people are moving into the digital asset, given the promises held by Ethereum during this time. Add in the fact that withdrawals are not expected to come to the network until 6 months to 1 year after the Merge, the reduced market supply will continue to pump the price.
Ethereum Investors Strap In
An important byproduct of the announcement that the Merge is coming in September has been the accumulation trend that has been triggered. An example is the number of addresses holding at least 10,000 ETH, hitting a new 1-month high of 1,186. The same trend was seen in smaller investors holding at least 10 coins that touched a new all-time high of 313,562 wallet addresses.
In the early hours of Monday, Wu Blockchain reported that a long-dormant Ethereum wallet had been activated. This wallet which had a balance of 145,000 ETH, was said to be active during the ICO era of the network, garnering a total of 150,000 ETH during this time.
When the price of ETH hit $219 back in 2019, the owner of the wallet had made a single transaction o 5,000 ETH but had not had any other activity since then. The wallet has since gone on to transfer out 145,000 ETH to multiple wallets since its reactivation.
These trends are becoming more common as the Merge draws closer. Mostly, as investors buy the news, the price of ETH is on a dramatic rise. However, as has been seen in the past, it is expected that the price of ETH will likely decline after the Merge.
https://www.newsbtc.com/news/ethereum/ethereum-hits-new-milestone-investors-accumulate-ahead-of-merge/
AirPods Pro 2 expected to feature H2 chip, longer battery life, and more
Monday, August 15, 2022 4:43 pm
In June, 52audio published images depicting the hardware design of Apple’s AirPods Pro 2 which are expected to launch before the end of the year. The case image shows built-in holes which likely exist to play an audio tone for locating a lost case using Apple’s vast Find My network.
Apple’s next-gen AirPods Pro 2 are expected to feature Apple’s H2 chip, longer battery life, and more.
Joe Rossignol for MacRumors:
Kuo did not elaborate on what benefits the new [H2] chip would provide, but given that the H1 chip powers audio-related functions, the upgraded chip in the second-generation AirPods Pro could result in improvements to sound quality, latency, active noise cancellation, Transparency mode, features powered by Siri, and more.
While there haven’t been any firm rumors about the new AirPods Pro featuring longer battery life, it’s reasonable to expect improvements in this area given that nearly three years have passed since the original AirPods Pro launched.
In May 2021, Bloomberg’s Mark Gurman and Debby Wu reported that the second-generation AirPods Pro would include “updated motion sensors with a focus on fitness tracking,” but the report did not provide any further details about the feature.
AirPods Pro are already equipped with a motion-detecting accelerometer, and it’s possible that improvements to this sensor would allow for some fitness tracking capabilities, but Apple’s exact plans remain to be seen.
MacDailyNews Take: We expect Apple to announce AirPods Pro (2nd generation) this September, during or very close to the iPhone 14 launch event.
https://macdailynews.com/2022/08/15/airpods-pro-2-expected-to-feature-h2-chip-longer-battery-life-and-more/
Warren Buffett’s Berkshire Hathaway adds 3.9 million shares to huge Apple stake
Monday, August 15, 2022 5:23 pm
Warren Buffett’s Berkshire Hathaway added nearly 4 million more Apple shares in the second quarter of 2022, according to the firm’s Form 13F filing with the U.S. Securities and Exchange Commission (SEC) on Monday. Investors who manage more than $100 million are required to disclose most securities holdings within a month and a half of the end of a quarter.
Business Insider:
The famed investor’s conglomerate scooped up about 3.9 million Apple shares in the period, lifting its stake in the iPhone maker to around 895 million shares or 5.6%.
Berkshire continues to count Apple as by far its biggest holding; the position was valued at $122 billion at the end of June, accounting for about 41% of its $300 billion portfolio.
MacDailyNews Take: When Buffett moves, investors often follow, so this news bodes well for Apple shareholders.
https://macdailynews.com/2022/08/15/warren-buffetts-berkshire-hathaway-adds-3-9-million-shares-to-huge-apple-stake/
Man who stalked ex-girlfriend with Apple AirTag sentenced to jail
Thursday, August 11, 2022 10:01 am
A jealous ex-boyfriend, Christopher Trotman, has been jailed for stalking after planting a covert Apple AirTag tracker on his ex-girlfriend’s car. Trotman received a nine-week jail sentence and a restraining order at Swansea Crown Court in the United Kingdom.
Abbie Llewelyn for the Daily Mail:
Christopher Paul Trotman, 41, harassed his ex with constant phone calls and questions, before ordering an AirTag on Amazon and glueing it to her rear bumper to track her every move, a court heard.
Swansea Crown Court heard how Trotman of Gwynedd Avenue, Townhill, Swansea had been in a relationship with the victim for over 10 years before it broke down in August 2020, with the woman describing his ‘controlling’ behaviour during their time together.
Then, in March this year, the victim bought a new iPhone and received a notification when she got in her car asking her if she wanted to connect to an Apple AirTag.
At the time, she did not know what it meant and ignored it. Later that month, she received a text from Trotman accusing her of sleeping with other men. He also asked her if she had enjoyed a night out on Swansea’s Penderry Road that night, but she had no idea how he knew where she had been.
His former lover discovered what he had done after her daughter also started getting notifications on her phone about connecting to an AirTag.
She found one of the tracking devices glued in a cavity under the rear bumper.
Trotman pleaded guilty of stalking and recorder David Harris sentenced him to nine weeks in prison. He was also slapped with a restraining order banning him from contacting his ex.
MacDailyNews Take: Obviously, Apple AirTags / FindMy system is working well, as people with whom unknown AirTags are traveling are notified.
You won’t get that from any other item tracker.
With any other tracker, you would be tracked for as long as the tracker remains functional without notification.
Apple AirTags are the most anti-stalking, pro-privacy, and safest trackers on the market.
AirTag and the Find My network are designed with privacy at their core. AirTag and Find My network accessories have unique Bluetooth identifiers that change frequently. This helps prevent you from being tracked from place to place. When the Find My network is used to locate an offline device, AirTag, or other Find My network accessory, everyone’s information is protected with end-to-end encryption. No one, including Apple, knows the location or identity of any of the participating users or devices who help locate a missing Find My network accessory.
AirTag and the Find My network have also been designed to discourage unwanted tracking. To discourage tracking without your knowledge, Find My will notify you if an unknown AirTag or other Find My network accessory is seen moving with you over time. An AirTag that isn’t with the person who registered it for an extended period of time will also play a sound when moved so you can find it, even if you don’t use an iOS device. If you detect an unknown AirTag or Find My network accessory, use the steps below to learn about it and how to disable it.
If you find an AirTag or a lost item with an AirTag attached:
1. Hold the top of your iPhone or NFC-capable pretend iPhone near the white side
of the AirTag until a notification appears.
2. Tap the notification. This opens a website that provides information about the
AirTag, including its serial number.
3. If the owner marked it as lost, you might see a message with information about
how to contact the owner. You can view a Lost Mode message on an iPhone or
NFC-capable pretend iPhone. You can then contact the owner to let them know
that you found their AirTag.
If you see an “Item Detected Near You” message:
If you see this message on your iPhone, iPad, or iPod touch running iOS or iPadOS 14.5 or later, an AirTag or Find My network accessory that has been separated from the person who registered it is traveling with you, and the owner might be able to see its location. It’s possible that the AirTag or Find My network accessory might be attached to an item you’re borrowing. Follow these steps to turn off these notifications or disable the AirTag or Find My network accessory:
1. Tap the message.
2. Tap Continue. If you need help finding the AirTag or Find My network accessory,
tap Play Sound.*
3. If the AirTag or Find My network accessory is attached to an item you’re
borrowing, you can tap Pause Safety Alerts to turn off “Items Detected”
notifications for one day.
• If you’re borrowing an AirTag from a member of your Family Sharing group, you
can turn off Safety Alerts for one day or indefinitely.
• You can tap “Learn About This AirTag” to see its serial number if the owner
marked it as lost.
4. To disable the AirTag or Find My network accessory and stop sharing your
location, tap Instructions to Disable and follow the onscreen steps. If you feel your
safety is at risk, contact your local law enforcement who can work with Apple. You
might need to provide the AirTag, Find My network accessory, or the device’s
serial number.
If you can’t play a sound, the AirTag might not be with you anymore. If it was with you overnight, its identifier might have changed. Find My uses the identifier to determine that it’s the same AirTag moving with you. If you believe the AirTag is still with you, look through your belongings to try to find it, or wait to see if another alert appears as you move from location to location during the day. If the AirTag is within range of the person who registered it, you also won’t be able to play a sound.
https://macdailynews.com/2022/08/11/man-who-stalked-ex-girlfriend-with-apple-airtag-sentenced-to-jail/
Apple is primed for long-term growth in huge Indian market
Wednesday, August 10, 2022 4:38 pm
Apple is gaining traction in India thanks to the growing adoption of 5G smartphones, sales of which are expected to take off in India in the next five years. Apple’s Indian manufacturing efforts could help it amass a bigger share of that huge market.
Harsh Chauhan for The Motley Fool:
Emerging markets were one of the reasons behind Apple’s resilient iPhone sales performance last quarter. CEO Tim Cook said on the latest earnings conference call that Apple witnessed “very strong double-digit growth in Brazil, Indonesia, and Vietnam.” He also added that the company’s revenue in India nearly doubled. That’s something investors should take note of, as the Indian market presents a solid long-term growth opportunity for Apple…
Though the company didn’t clarify its revenue from the Indian market, estimates suggest that Apple’s revenue from its Indian operations was close to $3 billion in fiscal 2021. The tech giant’s Indian revenue reportedly increased 68% last fiscal year. In fiscal 2022 analysts expect Apple’s top line to increase another 31% in the Indian market, which would bring its revenue [in India] close to $4 billion.
Apple capitalized on higher smartphone spending in India by cornering a 44% share of the market for devices priced at $400 or higher. Smartphone ASPs can be expected to head higher in India this year as sales of entry-level devices decline, driven by the growing adoption of 5G.
Sales of 5G smartphones reportedly increased 163% year-over-year in the second quarter in India as per CyberMedia Research. Even better, sales of premium (priced between $325 and $630) and super-premium smartphones (priced between $630 and $1,260) increased 80% and 96% year-over-year, respectively.
So the conditions are ripe for Apple to step on the gas in the Indian market, and the company is pulling the right strings to ensure that it doesn’t miss out on the lucrative long-term opportunity present over there.
MacDailyNews Take: The sky’s the limit for Apple in India!
It’s nice to finally see some real progress for Apple’s iPhone taking place in India! – MacDailyNews, February 3, 2022
https://macdailynews.com/2022/08/10/apple-is-primed-for-long-term-growth-in-huge-indian-market/
Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst
MARCO CASTROVILLI
AUG 08, 2022
As the global economy moves into a recession in the second half of 2002, Bitcoin will likely rally alongside gold and treasury bonds, according to Mike McGlone, a senior commodity strategist at Bloomberg.
Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted:
“ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on asset like the stock market.”
According to the analyst, the crypto market has flushed out most of the speculative excesses that marked 2021 and it is now ripe for a fresh rally. McGlone also pointed out that the Fed's aggressive hiking of interest rates will lead the global economy to a deflationary recession, which will ultimately favor Bitcoin:
“I fully expect we're going to have a pretty severe recession globally, which probably will make Bitcoin shine [...] along with gold and U.S. Treasury long bonds."
https://cointelegraph.com/news/bitcoin-likely-to-transition-to-a-risk-off-asset-in-h2-2022-says-bloomberg-analyst
Apple in talks to acquire streaming rights for Big Ten athletics events, including football and basketball
Tuesday, August 9, 2022 11:58 am
The Athletic on Tuesday reports that both Apple and Amazon are in negotiations for the streaming rights to Big Ten athletic events including football and basketball.
Chance Miller for 9to5Mac:
The Big Ten is one of the most prominent conferences in the United States for college athletics. In fact, the Big Ten got a major boost earlier this summer with the addition of USC and UCLA, turning it into a potential “super conference.”
The Athletic reports that both Apple and Amazon are in the running to acquire the rights to this package, but it’s “not yet clear” which one will ultimately prevail.
Other college leagues have streaming options as part of its media-rights arrangement but not an exclusive package. Amazon Prime long was considered the favorite to pick up the Big Ten’s streaming rights, but Apple TV rejoined the negotiation following the USC/UCLA expansion announcement on June 30. NBC’s Peacock also could become a stand-alone streaming option if the linear network wins a Big Ten package.
MacDailyNews Take: Apple acquiring exclusive live sports is an idea of shocking brilliance (even if it is years late).
Cook should consider bidding for and winning NFL Sunday Ticket away from DirecTV, buying rights to Premiere League and La Liga games, etc. and making them Apple TV exclusives. Go directly to the sports leagues with boatloads of cash. — MacDailyNews, May 6, 2014
https://macdailynews.com/2022/08/09/apple-in-talks-to-acquire-streaming-rights-for-big-ten-athletics-events-including-football-and-basketball/
Interesting update video (11.13 minutes): https://bluejaymining.com/investors/media-interviews/
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
19 July 2022
Bluejay Mining plc ('Bluejay' or the 'Company')
Field Season Podcast
Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce the publication of a podcast recording with Bluejay's Chief Executive Officer, Mr Bo Møller Stensgaard.
The podcast discusses this summer's active field season planned at four of the Company's projects: The Disko-Nuussuaq Project, The Dundas Project, The Kangerluarsuk Project and The Enonkoski Project.
The Podcast is available to listen on the following link:
Apple acquisitions significantly decline, regulatory filings show
Monday, August 8, 2022 10:49 am
Apple’s spending on acquisitions has significantly declined over 2021 and 2022, the company’s regulatory filings show. Apple invested some $1.5 billion on acquisitions in fiscal 2020, but that figure plummeted to just $33 million in 2021 and $169 million in the first nine months of its 2022 fiscal year.
Mark Gurman for Bloomberg News:
Just last February, Chief Executive Officer Tim Cook noted that Apple had acquired 100 companies in the past six years — more than one a month on average.
That deal flow has slowed to a trickle. Apple only made two known acquisitions in 2022: the UK-based startups Credit Kudos and AI Music. The first of those two companies developed technology for calculating credit scores, which will likely aid Apple’s efforts to build its own infrastructure for financial products. The latter business used artificial intelligence to generate tailor-made music.
Apple’s only known takeover in 2021 was the purchase of Primephonic, a classical-music streaming service.
It ended last quarter with $179 billion in cash and marketable securities, and it could move quickly if it decides to do a deal. Cook attended last month’s Sun Valley Conference in Idaho, a popular spot for brokering megamergers. For now, though, the company has opted to put money toward stock buybacks and dividends.
MacDailyNews Take: Apple buys smaller technology companies from time to time, and it generally does not discuss its purpose or plans.
https://macdailynews.com/2022/08/08/apple-acquisitions-significantly-decline-regulatory-filings-show/
Apple increases iPhone 14 orders
Monday, August 8, 2022 8:45 am
According to UDN‘s supply chain sources, Apple has upped its iPhone 14 orders from some 90 million units to 95 million units, clearly expecting even stronger iPhone demand in the face of a wider smartphone industry slowdown.
Malcolm Owen for AppleInsider:
The smartphone market is currently very sluggish, with Apple proving to be the exception to the rest of the industry. The difference in demand has seemingly affected Apple’s expectations for its upcoming iPhone 14 launch this fall, with the company making changes to match.
As evidence of this increased order, results for TSMC, Hon Hai, Largan, Zhen Ding-KY, Huatong, and other suppliers are thought to see their own shipments increase.
MacDailyNews Take: Again, as more and more people wake up, see iPhone’s superior resale values vs. pretend iPhones from South Korean dishwasher makers and worse, they want to invest their money in quality, instead of wasting it every time they saddle themselves with a fake iPhone. More and more people want to stop being PITA green bubbles and experience a real iPhone for themselves.
Importantly, there is a lot of headroom into which Apple can grow:
Mobile Operating System Market Share Worldwide (StatCounter, July 2022)
• Android – 71.85%
• iOS – 27.50%
In Q322 ended June 25th, Apple reported that every geography and product category hit a record level of active devices!
https://macdailynews.com/2022/08/08/apple-increases-iphone-14-orders/
Warren Buffett’s Berkshire Hathaway bought 4 million shares of Apple in Q2, bringing its stake to 915 million shares
Monday, August 8, 2022 11:47 am
Warren Buffett’s Berkshire Hathaway added to its stake in Apple in the second quarter, based on Barron’s analysis of the 10-Q which calculates that Berkshire bought about four million shares of Apple in Q2, bringing its stake to 915 million shares.
Andrew Bary for MarketWatch:
Berkshire Hathaway’s operating profits rose 39% in the second quarter, topping estimates, on strength in the company’s insurance and railroad businesses as well as sharply higher investment income.
Berkshire Hathaway had after-tax operating profits of $9.3 billion, up from the $6.7 billion in the second quarter of 2021. Profits per class A share increased 43% to $6,312, topping the FactSet consensus of $5,393 per share.
Berkshire dramatically slowed its purchases of equities in the second quarter after a buying spree in the first quarter when the company bought $51 billion of stocks and a net $41 billion after sales. Purchases in the second quarter were $6 billion and sales about $2 billion, according to the Berkshire 10-Q regulatory filing that was released in conjunction with the earnings this morning.
Berkshire added slightly to its stake in Apple and Chevron in the second quarter, based on Barron’s analysis of the 10-Q. We calculate that Berkshire bought about four million shares of Apple in the period, bringing its stake to 915 million shares…
MacDailyNews Note: 915 million AAPL shares at $165.60 totals $151.524 billion. At $0.23 per AAPL share, Berkshire reaps $210.45 million in Apple dividends each quarter.
https://macdailynews.com/2022/08/08/warren-buffetts-berkshire-hathaway-bought-4-million-shares-of-apple-in-q2-bringing-its-stake-to-915-million-shares/
New U.S. buyback tax will force companies to think twice on how to use cash
Friday, August 5, 2022 11:48 am
U.S. Senate Democrats’ so-called “The Inflation Reduction Act,” about which there’s low confidence that the legislation will have any positive impact on the rate inflation (currently at a 40-plus-year high of 9.1%), according to the nonpartisan Penn Wharton Budget Model (PWBM), also contains a proposed 1% levy on corporations’ share repurchases will force chief financial officers to think twice about how they use their cash.
In April, Apple’s board of directors authorized an increase of $90 billion to the company’s existing buyback program.
The bill also proposes that corporations with at least $1 billion in annual income will have a new corporate minimum tax rate of 15% which, of course, will not be paid by corporations but instead passed on to consumers in the form of higher prices and/or to employees in the form of lower annual raises and/or reduced corporate profits which could hurt employees’ 401(k) and other investors’ mutual funds.
Kelly Anne Smith for Forbes:
According to the Congressional Budget Office (CBO), a federal agency that provides budget and economic information to Congress, the bill would barely make a dent on inflation in the near term — and could even nudge it upward.
If the bill passes in 2022, the CBO estimates that it would have a “negligible effect on inflation,” and in 2023 it would change inflation somewhere between 0.1 percentage point lower and 0.1 percentage point higher than it is currently.
The CBO also estimates the bill would decrease the deficit by more than $100 billion over the next decade. The federal government ran a deficit of $2.8 trillion in 2021, according to the Bipartisan Policy Center.
For further perspective, the U.S. has already committed $54 billion to Ukraine since the Russian invasion. In 2021 alone, not over a decade, the U.S. federal government spent $100 billion on highway grants ($43 billion) and health insurance premium tax credits ($57 billion).
Joe Woelfel and Rupert Steiner for Barron’s:
It is set to be a record year for U.S. buybacks, with some $1.2 trillion forecast to be spent, including bumper programs under way at Apple and Google owner Alphabet.
When choosing how to reward investors, companies like buybacks compared with dividends because they increase per-share measures of earnings and cash flow and benefit return on equity. They can be directors’ way of trying to put a floor under the share price—although they look wasteful if the stock drops.
For investors, buybacks result in capital gains that may never be taxed at all, whereas dividends require income tax to be paid.
MacDailyNews Take: As with most bills proposed in the U.S. House and Senate over past decades, this one is egregiously misnamed and may actually end up causing the exact opposite of its titled intention.
Stop the misguided crusade against domestic energy production and profligate federal spending and inflation will be stopped dead in its tracks. It’s not difficult. – MacDailyNews, May 11, 2022
We’ll find out at the end of next April, when Apple normally updates its annual capital return program, if Apple’s buyback program is affected by passage of the bill.
https://macdailynews.com/2022/08/05/new-u-s-buyback-tax-will-force-companies-to-think-twice-on-how-to-use-cash/
Apple warns suppliers to follow Chinese Communist Party rules on ‘Taiwan’ labeling
Friday, August 5, 2022 9:59 am
Apple has asked suppliers to ensure that shipments from Taiwan to China strictly comply with Chinese customs regulations after a recent visit by U.S. House Speaker Nancy Pelosi to Taiwan stoked fears of rising trade barriers.
Cheng Ting-Fang and Lauly Li for Nikkei Asia:
Apple told suppliers on Friday that China has started strictly enforcing a long-standing rule that Taiwanese-made parts and components must be labeled as being made either in “Taiwan, China” or “Chinese Taipei,” sources familiar with the matter told Nikkei Asia, language that indicates the island is part of China.
The U.S. tech titan urged suppliers to treat the matter with urgency to avoid possible disruptions caused by goods and components being held for scrutiny, the people said.
Using the phrase “Made in Taiwan” on any import declaration forms, documents or cartons could cause shipments to be held and checked by Chinese customs, the sources added. Penalties for violating such a rule is a fine of up to 4,000 yuan ($592) or, in the worst-case scenario, the shipment being rejected, one of the sources said.
Apple’s warning comes after shipments from Taiwan to one of iPhone assembler Pegatron’s facilities in China were held for review on Thursday to see if the import declaration form or cartons are labeled with “Taiwan” or “Republic of China.”
Beijing has long viewed Taiwan as a part of its territory and is strongly opposed to senior U.S. officials such as House Speaker Pelosi making formal diplomatic visits to the island.
MacDailyNews Take: For the Center for Strategic and International Studies, Michael J. Green and Bonnie S. Glaser, explain the United States’ “One China” policy:
When the United States moved to recognize the People’s Republic of China (PRC) and de-recognize the Republic of China (ROC) in 1979, the United States stated that the government of the People’s Republic of China was “the sole legal Government of China.” Sole, meaning the PRC was and is the only China, with no consideration of the ROC as a separate sovereign entity.
The United States did not, however, give in to Chinese demands that it recognize Chinese sovereignty over Taiwan (which is the name preferred by the United States since it opted to de-recognize the ROC). Instead, Washington acknowledged the Chinese position that Taiwan was part of China. For geopolitical reasons, both the United States and the PRC were willing to go forward with diplomatic recognition despite their differences on this matter. When China attempted to change the Chinese text from the original acknowledge to recognize, Deputy Secretary of State Warren Christopher told a Senate hearing questioner, “[W]e regard the English text as being the binding text. We regard the word ‘acknowledge’ as being the word that is determinative for the U.S.” In the August 17, 1982, U.S.-China Communique, the United States went one step further, stating that it had no intention of pursuing a policy of “two Chinas” or “one China, one Taiwan.”
To this day, the U.S. “one China” position stands: the United States recognizes the PRC as the sole legal government of China but only acknowledges the Chinese position that Taiwan is part of China. Thus, the United States maintains formal relations with the PRC and has unofficial relations with Taiwan. The “one China” policy has subsequently been reaffirmed by every new incoming U.S. administration. The existence of this understanding has enabled the preservation of stability in the Taiwan Strait, allowing both Taiwan and mainland China to pursue their extraordinary political and socioeconomic transitions in relative peace.
https://macdailynews.com/2022/08/05/apple-warns-suppliers-to-follow-chinese-communist-party-rules-on-taiwan-labeling/
Congress will likely decide the fate of crypto jurisdiction — Lummis staffer
BRAYDEN LINDREA
8 HOURS AGO
U.S. Congress will need to step in to decide who gets crypto regulation bragging rights if the SEC and CFTC cannot resolve the issue internally.
A United States Senator Cynthia Lummis staffer believes that United States Congress will have to step in and resolve the dispute between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding who regulates cryptocurrencies if the matter cannot be resolved internally.
The issue stems from 2014, when the CFTC first asserted jurisdiction over virtual currencies. This was later reaffirmed by a U.S. Federal Court ruling in 2018, which stated that the CFTC had jurisdiction to prosecute criminals over fraud cases involving virtual currencies. However, it has been the SEC that has predominantly been investigating U.S.-based crypto exchanges and crypto assets to date.
On Wednesday, Senators Debbie Stabenow of Michigan and John Boozman of Arkansas introduced the Digital Commodities Consumer Protection Act of 2022 (DCCPA). If the bill is passed into law by the U.S. legislature, the CFTC would be granted rights to regulate digital commodities.
Most notably, the DCCPA would class both Bitcoin (BTC) and Ether (ETH) as digital commodities and not securities. This is particularly significant because SEC chairman Gary Gensler recently said in an interview with U.S. business news channel CNBC that BTC is the only cryptocurrency he is comfortable with labeling as a commodity:
“Some, like Bitcoin — and that’s the only one I’m going to say because I’m not going to talk about any one of these tokens, but my predecessors and others have said they’re a commodity.”
Despite the tension, however, Lummis’ staffer thinks the DCCPA bill has less than a 50% chance of being passed this year:
“The only way either bill would pass this year is if a catastrophic black swan event, like a major U.S. exchange collapsing, could rally lawmakers.”
The news comes after the SEC has begun investigating the $20 billion crypto exchange Coinbase, but Lummis’ staffer also stated that every U.S.-based crypto exchange is under investigation in some form.
Under U.S. law, the Howey test determines whether a transaction constitutes an investment contract (security). The test states that an investment contract exists “when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”
If ETH, or any crypto asset for that matter, is found to fall within this definition, then U.S.-based crypto exchanges would be illegally trading securities. The SEC recently listed nine crypto-assets as securities.
https://cointelegraph.com/news/congress-will-likely-decide-the-fate-of-crypto-jurisdiction-lummis-staffer
Congress will likely decide the fate of crypto jurisdiction — Lummis staffer
BRAYDEN LINDREA
8 HOURS AGO
U.S. Congress will need to step in to decide who gets crypto regulation bragging rights if the SEC and CFTC cannot resolve the issue internally.
A United States Senator Cynthia Lummis staffer believes that United States Congress will have to step in and resolve the dispute between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding who regulates cryptocurrencies if the matter cannot be resolved internally.
The issue stems from 2014, when the CFTC first asserted jurisdiction over virtual currencies. This was later reaffirmed by a U.S. Federal Court ruling in 2018, which stated that the CFTC had jurisdiction to prosecute criminals over fraud cases involving virtual currencies. However, it has been the SEC that has predominantly been investigating U.S.-based crypto exchanges and crypto assets to date.
On Wednesday, Senators Debbie Stabenow of Michigan and John Boozman of Arkansas introduced the Digital Commodities Consumer Protection Act of 2022 (DCCPA). If the bill is passed into law by the U.S. legislature, the CFTC would be granted rights to regulate digital commodities.
Most notably, the DCCPA would class both Bitcoin (BTC) and Ether (ETH) as digital commodities and not securities. This is particularly significant because SEC chairman Gary Gensler recently said in an interview with U.S. business news channel CNBC that BTC is the only cryptocurrency he is comfortable with labeling as a commodity:
“Some, like Bitcoin — and that’s the only one I’m going to say because I’m not going to talk about any one of these tokens, but my predecessors and others have said they’re a commodity.”
Despite the tension, however, Lummis’ staffer thinks the DCCPA bill has less than a 50% chance of being passed this year:
“The only way either bill would pass this year is if a catastrophic black swan event, like a major U.S. exchange collapsing, could rally lawmakers.”
The news comes after the SEC has begun investigating the $20 billion crypto exchange Coinbase, but Lummis’ staffer also stated that every U.S.-based crypto exchange is under investigation in some form.
Under U.S. law, the Howey test determines whether a transaction constitutes an investment contract (security). The test states that an investment contract exists “when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”
If ETH, or any crypto asset for that matter, is found to fall within this definition, then U.S.-based crypto exchanges would be illegally trading securities. The SEC recently listed nine crypto-assets as securities.
https://cointelegraph.com/news/congress-will-likely-decide-the-fate-of-crypto-jurisdiction-lummis-staffer
I agree with your opinion that this could positively affect bitcoin, with new and more investors...
Apple to stagger iOS and iPadOS releases
Wednesday, August 3, 2022 4:38 pm
Apple will stagger its next major mobile operating system releases, separating them by about a month, breaking from the usual method of releasing iPadOS at the same time as the new iPhone software, Bloomberg News reports citing “people with knowledge of the matter.”
Mark Gurman for Bloomberg News:
For the last several years, the tech giant has released major iPad and iPhone software updates, known as iPadOS and iOS, at the same time in September. This time around, Apple plans to put out iOS 16 during the usual period but not launch iPadOS 16 until October, said the people, who asked not to be identified because the deliberations are private.
The delay of the software is due, at least in part, to an ambitious effort to overhaul the iPad’s multitasking capabilities. The update includes a feature called Stage Manager that lets users operate several tasks at the same time, resize windows and bounce between different clusters of apps…
The change also would bring the iPadOS 16 release closer to the launch of new iPad hardware. The company is planning an updated iPad Pro with an M2 chip, along with a faster entry-level iPad with a USB-C port…
The Mac update is scheduled for release in October, the same month Apple typically rolls out major Mac software upgrades. And watchOS 9, the latest Apple Watch software, is still slated for September alongside the iPhone update.
MacDailyNews Take: The only thing shocking about this is that, since they bifurcated iOS with iPadOS, they haven’t they been doing it this way all along. New iOS with new iPhones. New iPadOS with new iPads. Logical and simple.
https://macdailynews.com/2022/08/03/apple-to-stagger-ios-and-ipados-releases/
Apple looks to significantly expand its advertising business
Wednesday, August 3, 2022 12:42 pm
Apple looks to be building a demand-side advertising platform (DSP) based on recent job listings as it builds its focused play for media dollars.
Ronan Shields for Digiday:
Specifically, it is looking for a senior manager for a DSP in its ads platforms business. Whoever gets the job will be asked to “drive the design of the most privacy-forward, sophisticated demand side platform possible,” per the post. Moreover, the ideal candidate would have experience building a mobile-centric DSP and know-how when it comes to optimizing “mobile campaigns using measurement and attribution.”
A DSP is a statement of intent for any ads business — let alone one like Apple, which has grown exponentially on the back of its decision to make it harder for companies to grow their own within its ecosystem. Indeed, a DSP is a core part of an ad tech stack for any company with designs on winning more media dollars. It’s technology, or more specifically software, that lets a marketer advertise with the help of automation. The automation of the process is important because it means marketers can set up campaigns and manage them with relative ease. In turn, they’re likely to spend more.
MacDailyNews Take: As Shields notes, it remains unclear if the intended DSP is meant only for serving ads on Apple’s properties (App Store) or if it could also be intended to work on third-party apps and/or sites.
https://macdailynews.com/2022/08/03/apple-looks-to-significantly-expand-its-advertising-business/
Bitcoin (BTC) and Ethereum (ETH) To Be Policed by CFTC Under New US Senate Proposal: Report
Daily Hodl Staff August 4, 2022 BITCOIN, ETHEREUM, REGULATORS
The push to regulate cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) forges ahead as a bipartisan bill has been submitted to the United States Senate.
According to a new Wall Street Journal report, Michigan Democrat Debbie Stabenow who chairs the Senate Agriculture Committee is joining with Arkansas Republican John Boozman to empower the Commodity Futures Trading Commission (CFTC) to regulate the crypto spot markets via a new class of assets called “digital commodities.”
The article refers to the legislation as the latest salvo in a “competition for jurisdiction” between numerous government bodies and agencies, including the U.S. Securities and Exchange Commission (SEC) and the Federal Reserve.
While the proposed legislation does not include “securities” as part of the newly defined asset class, cryptocurrency exchanges such as Coinbase and FTX would fall under the CFTC’s jurisdiction. They would be required to register with the agency and offer consumer protections.
Boozman said of the new Digital Commodities Consumer Protection Act of 2022 proposal,
“This fast-growing industry is currently governed largely by a patchwork of regulations at the state level. That simply is not an effective way to protect consumers from fraud.
Our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.”
The Stabenow-Boozman bill represents the third instance of Senators proposing bills affecting cryptocurrencies in the past two months.
Last Wednesday, Republican Pat Toomey of Pennsylvania and Arizona Democrat Kyrsten Sinema put forth a new measure called “The Virtual Currency Tax Fairness Act” that would exempt small personal crypto transactions from taxation.
The bill will exclude personal crypto transactions worth less than $50 or with gains under $50 from being subjected to capital gains tax. Under the current system, people who use digital assets to pay for goods and services owe capital gains taxes when the value of the coin increases.
Back in early June, another bipartisan proposal from Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) sought to establish a regulatory framework for the crypto industry.
Gillibrand said of The Responsible Financial Innovation Act,
“It is critical that the United States play a leading role in developing policy to regulate new financial products, while also encouraging innovation and protecting consumers.
[This] is a landmark bill that will establish a regulatory framework that spurs innovation, develops clear standards, defines appropriate jurisdictional boundaries and protects consumers.
[It] will provide clarity to both industry and regulators, while also maintaining the flexibility to account for the ongoing evolution of the digital assets market.”
https://dailyhodl.com/2022/08/04/bitcoin-btc-and-ethereum-eth-to-be-policed-by-cftc-under-new-us-senate-proposal-report/
Bitcoin (BTC) and Ethereum (ETH) To Be Policed by CFTC Under New US Senate Proposal: Report
Daily Hodl Staff August 4, 2022 BITCOIN, ETHEREUM, REGULATORS
The push to regulate cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) forges ahead as a bipartisan bill has been submitted to the United States Senate.
According to a new Wall Street Journal report, Michigan Democrat Debbie Stabenow who chairs the Senate Agriculture Committee is joining with Arkansas Republican John Boozman to empower the Commodity Futures Trading Commission (CFTC) to regulate the crypto spot markets via a new class of assets called “digital commodities.”
The article refers to the legislation as the latest salvo in a “competition for jurisdiction” between numerous government bodies and agencies, including the U.S. Securities and Exchange Commission (SEC) and the Federal Reserve.
While the proposed legislation does not include “securities” as part of the newly defined asset class, cryptocurrency exchanges such as Coinbase and FTX would fall under the CFTC’s jurisdiction. They would be required to register with the agency and offer consumer protections.
Boozman said of the new Digital Commodities Consumer Protection Act of 2022 proposal,
“This fast-growing industry is currently governed largely by a patchwork of regulations at the state level. That simply is not an effective way to protect consumers from fraud.
Our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.”
The Stabenow-Boozman bill represents the third instance of Senators proposing bills affecting cryptocurrencies in the past two months.
Last Wednesday, Republican Pat Toomey of Pennsylvania and Arizona Democrat Kyrsten Sinema put forth a new measure called “The Virtual Currency Tax Fairness Act” that would exempt small personal crypto transactions from taxation.
The bill will exclude personal crypto transactions worth less than $50 or with gains under $50 from being subjected to capital gains tax. Under the current system, people who use digital assets to pay for goods and services owe capital gains taxes when the value of the coin increases.
Back in early June, another bipartisan proposal from Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) sought to establish a regulatory framework for the crypto industry.
Gillibrand said of The Responsible Financial Innovation Act,
“It is critical that the United States play a leading role in developing policy to regulate new financial products, while also encouraging innovation and protecting consumers.
[This] is a landmark bill that will establish a regulatory framework that spurs innovation, develops clear standards, defines appropriate jurisdictional boundaries and protects consumers.
[It] will provide clarity to both industry and regulators, while also maintaining the flexibility to account for the ongoing evolution of the digital assets market.”
https://dailyhodl.com/2022/08/04/bitcoin-btc-and-ethereum-eth-to-be-policed-by-cftc-under-new-us-senate-proposal-report/
Apple’s latest debt deal could reach $6.5 billion
Monday, August 1, 2022 1:38 pm
Apple, following up record quarterly results tied to robust iPhone sales, rolled out a four-part bond deal on Monday to raise new debt in a deal that could reach $6.5 billion.
Joy Wiltermuth for MarketWatch:
The new deal from Apple could raise up to an estimated $4 billion to $6.5 billion for the technology giant through the issuance of four series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global, according to Informa global markets.
“Even though August is typically a slower issuance month,” said Tom Murphy, head of investment grade credit at Columbia Threadneedle Investments, “we estimate this year could be busier.” Murphy pointed to improved conditions for borrowers in the past month, but also ongoing macro uncertainties as potential catalysts for more robust issuance from highly rated U.S. companies in August…
The Apple debt deal, split across 7-year, 10-year, 30-year and 40-year classes of bonds, comes after a historically bad start to 2022 that has left many corporate bonds trading with steep discounts. Proceeds from the sale of bonds will be used by Apple for general corporate purposes, including stock and bond repurchases and dividend payments.
MacDailyNews Note: Apple ended its fiscal third quarter with $179 billion in cash and marketable securities. The company repaid $3 billion in maturing debt while increasing commercial paper by $4 billion, leaving Apple with total debt of $120 billion. As a result, Apple’s net cash was nearly $60 billion at the end of the quarter ended June 30, 2022.
Apple has a goal of becoming net cash neutral “over time,” meaning that the company’s debt balances will roughly offset its cash position when achieved.
https://macdailynews.com/2022/08/01/apples-latest-debt-deal-could-reach-6-5-billion/
After Apple’s strong quarter, Citi outlines 5 reasons to buy the stock
Friday, July 29, 2022 10:43 am
Apple’s better-than-expected Q322 earnings report helped assuage investors’ worries about how a slowdown in consumer demand would impact the compnay. As sentiment on Apple turns positive, it may be time to buy the stock, Citi analysts say.
Sabrina Escobar for Barron’s:
“We would characterize this quarter as a major bullish statement on iPhone demand and Cupertino’s [the location of Apple’s main office] ability to navigate a supply chain shortage in an impressive performance,” wrote Wedbush analyst Daniel Ives on Friday.
Citi analyst Jim Suva agreed, saying he continued to see several positive drivers for Apple’s products and services in the months ahead, even though macro challenges will persist.
Suva outlined five reasons to buy the stock.
1. iPhone 14
2. Expansion of Services Segment
3. New Product Launches [AR/VR headset and “Apple Car” by 2025]
4. Demand Shift Toward Premium Products
5. Stock Buyback Program will keep boosting the shares in the long run
MacDailyNews Take: The “Apple Car” by 2025 might be quite optimistic, but Suva’s other points are solid.
It’s important to remember: Apple customers are those least affected by rampant inflation. It’s the Android and Wintel PC bottom-feeders who will be most affected by lower-end consumers pulling back discretionary spending as prices for necessities eat into their budgets.
Superior demographics, coupled with Apple’s massive mountain of cash, make Apple a safe harbor in a turbulent market.
We would characterize this quarter as a major bullish statement on iPhone demand and Cupertino’s ability to navigate a supply chain shortage in an impressive performance. — Wedbush analyst Daniel Ives on Friday.
https://macdailynews.com/2022/07/29/after-apples-strong-quarter-citi-outlines-5-reasons-to-buy-the-stock/
Apple stock nears buy point after all-time record June quarter
Friday, July 29, 2022 2:02 pm
Apple stock rose Friday after the company delivered an all-time record June-quarter revenue report. Plus, Apple expects sales growth to accelerate in the September quarter as supply chain issues ease.
Patrick Seitz for Investor’s Business Daily:
The Cupertino, Calif.-based company late Thursday topped Wall Street’s estimates for its fiscal third quarter ended June 25… Total sales rose 2% year over year to $83 billion while earnings per share dropped 8% to $1.20.
Apple… said sales growth would accelerate on easing supply constraints. In the June quarter, Apple struggled with shortages of Mac computers and iPad tablets.
Apple’s revenue is more impacted by supply constraints than macroeconomic worries, Evercore ISI analyst Amit Daryanani said in a note to clients. He reiterated his buy rating on Apple stock and raised his price target to $185 from $180.
In afternoon trades on the stock market today, Apple stock rose 3.3% to $162.58. With the move, Apple climbed above its 200-day moving average line, a positive sign.
Apple stock is in a 30-week consolidation pattern with a buy point of $183.04, according to IBD MarketSmith charts. That buy point is 10 cents above the stock’s all-time high $182.94, reached on Jan. 4, based on IBD trading guidelines.
MacDailyNews Take: According to IBD, a buy point is a price level at which a stock is most likely to begin a significant advance. It also points to an area of the chart that offers the least amount of resistance to price progress.
https://macdailynews.com/2022/07/29/apple-stock-nears-buy-point-after-all-time-record-june-quarter/
Travelers deploy Apple AirTags to track lost luggage amid airline baggage chaos
Monday, July 25, 2022 12:42 pm
Smart travelers are deploying Apple AirTags to track their luggage which is being delayed and lost at alarming rates amid baggage chaos at airlines.
Brad Stone for Bloomberg News:
Airlines are losing more bags than ever: In May, 238,000 suitcases were mishandled in the US alone, an 80% increase over the previous year, according to the monthly Air Travel Consumer Report from the US Department of Transportation. The bedlam appears worse in Europe, where technical snafus and staffing shortages are bedeviling airports in Paris, London and Scotland, leading to some spicy social media posts and startling photos of piled-up bags at airports.
This is where AirTags come in. They’re so-called “Bluetooth Low Energy” devices, which send encrypted signals to any nearby iPhones, iPads and Macs. That allows users to see their item on a map in the “Find My” app on their iPhone or other devices. If it is in the vicinity of an iPhone 11 or newer, they can generate arrows on their screen that point to the direction of a misplaced item. The app can also ping the AirTag to make a sound—admittedly not helpful when it’s tucked inside a suitcase at a busy airport.
Proponents of the technology say that tracking checked luggage with AirTags and their ilk is a good way to relieve travel stress. “Trackers are especially useful for discovering if someone mistakenly took your bag off the carousel instead of their own,” wrote the Times. Henry Harteveldt, an online and travel industry analyst at Atmosphere Research, said he would use an AirTag if he had no choice other than to check a suitcase. “The end result is knowledge, and knowledge can increase peace of mind,” he says, adding: “2022 is not a year where you want to take chances with your checked bags no matter where you are traveling.”
MacDailyNews Take: At this point, we have AirTags in/on pretty much every item of value or importance. They just work so well and so accurately!
https://macdailynews.com/2022/07/25/travelers-deploy-apple-airtags-to-track-lost-luggage-amid-airline-baggage-chaos/
Giant asset manager buys up Apple, Nvidia, Corning, and Pfizer stock
Monday, July 25, 2022 11:41 am
The investment arm of one of the world’s biggest insurers just made major additions to its U.S.-traded investments, purchasing large stakes in Apple, Nvidia, Corning, and Pfizer.
Ed Lin for Barron’s:
MEAG Munich Ergo initiated a stake in iPhone maker Apple, and bought more shares of chip maker Nvidia, specialty-glass maker Corning, and vaccine maker Pfizer in the second quarter. MEAG, which handles all the investment activities for Munich Re, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.
As of March 31, it managed $337 billion in assets.
The asset manager bought 242,657 Apple shares in the second quarter. It hadn’t owned any at the end of the first quarter.
MacDailyNews Take: Smart investors are scooping up Apple at a discount.
https://macdailynews.com/2022/07/25/giant-asset-manager-buys-up-apple-nvidia-corning-and-pfizer-stock/
Subscription services can power Apple back to $3 trillion and beyond – Morgan Stanley
Thursday, July 21, 2022 10:29 am
According to Morgan Stanley, Apple’s Services business is the engine that will power the company back to a market value of more than $3 trillion.
Subrat Patnaik for Bloomberg News:
While the market still tends to value [Apple] as a hardware company, shifting to a “lifetime value” based approach — which takes into account recurring revenues from services — suggests long-term upside to over $200 per share, or more than $3 trillion in market value, Morgan Stanley analysts wrote in a note.
“The Apple business model is shifting from one that maximizes hardware shipment growth to one that maximizes installed base monetization,” analysts led by Erik Woodring wrote.
Woodring, who rates Apple overweight, said that his lifetime value model assumes that Apple users will spend $2 per day on Apple products or services, a figure already achieved by US iPhone owners. The current stock price implies a material valuation discount to other tech platforms and software-as-a-service businesses,
he said.
MacDailyNews Note: Apple on January 3rd became the first company in world history to hit the $3 trillion market capitalization milestone. Apple’s market value currently stands at $2.464 trillion, making it the most valuable company in the world.
https://macdailynews.com/2022/07/21/subscription-services-can-power-apple-back-to-3-trillion-and-beyond-morgan-stanley/
Apple to Slow Hiring, Spending to Deal with Economic Downtown, Bloomberg Reports
July 18 2022 - 04:06PM
Dow Jones News
By Denny Jacob
--Apple Inc. plans to slow hiring and spending growth next year in some divisions to deal with a potential economic downtown, Bloomberg reported, citing people familiar with each matter.
--The tech giant's decision stems from a move to be more careful during uncertain times, though it isn't a company wide policy, the report said.
--The changes won't affect all teams, and Apple is still planning an aggressive product launch schedule in 2023 that includes a mixed-reality headset, Bloomberg reported.
--Representatives for Apple didn't immediately respond to a request for comment from Dow Jones Newswires.
Full story at https://www.bloomberg.com/news/articles/2022-07-18/apple-to-slow-hiring-and-spending-for-some-teams-next-year?sref=b0us4KbN
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/88615558/apple-to-slow-hiring-spending-to-deal-with-econom
Apple Maps finally gets multi-stop routing in iOS 16
Monday, July 18, 2022 12:09 pm
Finally, Apple Maps on iOS 16 is getting one of the most long-requested features: the ability to add multi-stop routing. Up to 15 locations can be added per route.
José Adorno for MacRumors:
One of the most important features is multi-stop routing. With that, you can add multiple stops along your driving route in Maps. In addition, you can plan a route with multiple stops on your Mac and it will sync to your iPhone.
Apple Maps in iOS 16 also brings:
• Transit fares: See how much your journey will cost with transit fares;
• Transit cards in Maps: Add transit cards to Wallet, see low balances, and replenish your card, all without leaving Maps.
MacDailyNews Take: The last main reason to revert to Google Maps disappears.
https://macdailynews.com/2022/07/18/apple-maps-finally-gets-multi-stop-routing-in-ios-16/
Bernstein expects Apple to beat the Street consensus in June quarter
Monday, July 18, 2022 12:40 pm
Despite ongoing macro and supply-chain headwinds, there’s a good chance Apple could report better-than-expected results for its fiscal third quarter ended in June, Bernstein analyst Toni Sacconaghi says.
Eric J. Savitz:
Sacconaghi… on Monday inched up his expectations for Apple for the June quarter, citing better-than-expected supply and manufacturing conditions, as well as “healthy” demand in China. Sacconaghi boosts his June-quarter revenue forecast to $84 billion from $82.8 billion, while nudging up his earnings-per-share forecast to $1.19, from $1.17. Sacconaghi’s estimates are above the Street consensus forecast for revenue of $82.4 billion and profits of $1.15 a share…
In reporting March quarter results, Apple had warned that supply constraints could reduce revenue in the quarter by $4 billion to $8 billion; Sacconaghi thinks the actual impact might be at the low end of the range or below. But he also notes that currency-rate headwinds are likely higher than Apple had forecast.
Meanwhile, he thinks that Apple could outperform consensus estimates for both Mac and iPad sales. He sees Mac sales up 13%, above the Street’s consensus forecast at 3%, and projects iPad growth of 9%, far above the Street consensus forecast for a decline of 6%.
MacDailyNews Take: The odds that Apple has once again underpromised and overdelivered in Q322 are good.
https://macdailynews.com/2022/07/18/bernstein-expects-apple-to-beat-the-street-consensus-in-june-quarter/
Apple reportedly the ‘most likely’ winner of NFL Sunday Ticket rights at $3 billion per year
Friday, July 15, 2022 3:07 pm
Apple is seen as the “most likely” winner of the rights to NFL Sunday Ticket, with the price tag costing of some $3 billion per year, according to Puck News.
Chris Ciaccia for Seeking Alpha:
Last week, NFL Commissioner Roger Goodell said that Sunday Ticket, which lets NFL fans view out of market games, was likely headed to a streaming platform.
“I clearly believe we’ll be moving to a streaming service,” Goodell told CNBC, touting that a move like this would let more viewers watch the games than on Sunday Ticket’s longtime setup on satellite.
The 63-year-old Goodell added that a decision would come in the fall.
MacDailyNews Take: An insignificant outlay for Apple that would yield a significant positive impact for Apple TV+.
MLB Friday Night Baseball and the entire MLS are nice, but if Apple is really serious about live sports, and they clearly seem to be, a significant NFL deal is an absolute must. — MacDailyNews, July 8, 2022
See also: Apple is going hard after live sports rights; NFL is next – analyst – June 15, 2022
https://macdailynews.com/2022/07/15/apple-reportedly-the-most-likely-winner-of-nfl-sunday-ticket-rights-at-3-billion-per-year/