GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More Apple (NASDAQ:AAPL)
June 07 2024 - 8:09AM
IH Market News

GameStop (NYSE:GME) – GameStop shares are volatile in pre-market trading on Friday, after soaring nearly 50% the day before, following the announcement by the influencer known as “Roaring Kitty” of an upcoming live broadcast on YouTube today at 12 PM, Eastern Time (ET). Since Gill resumed social media activities in May, GameStop’s market value has increased by $11 billion. This rise is part of a pattern of volatile trading influenced by his activities. Gill’s broadcast has garnered over 12,000 registrations. The stock reversed from a gain of over 30% to a 16.4% drop in pre-market trading shortly after the video game retailer announced its first-quarter results.

Meta Platforms (NASDAQ:META) – Meta launched an AI-based ad targeting program on WhatsApp to generate revenue, marking a new approach for the messaging service. The tools use behavioral data from Facebook and Instagram to target potential customers, representing a shift in WhatsApp’s privacy practices.

Nvidia (NASDAQ:NVDA) – As Nvidia threatens to become the world’s most valuable company, surpassing Microsoft, some investors are skeptical and are betting that its sharply rising shares may depreciate. Short bets against Nvidia total about $34 billion, nearly double the combined bets against Apple and Tesla. After today’s market close, Nvidia will conduct a 10-for-1 stock split, making its shares more accessible and potentially broadening its appeal to individual investors. After the split, the share price will be proportionally reduced, which could favor the company’s inclusion in the Dow Jones, which is price-weighted.

Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA) – The U.S. Department of Justice and the Federal Trade Commission have reached an agreement to conduct antitrust investigations into Microsoft, OpenAI, and Nvidia, related to these companies’ dominance in the artificial intelligence market.

Apple (NASDAQ:AAPL) – Next week, Apple will launch a new app called “Passwords” to facilitate login to websites and programs. This feature, part of iOS 18, iPadOS 18, and macOS 15, is an extension of iCloud Keychain and aims to simplify password management, increasing competition with other password managers.

Netflix (NASDAQ:NFLX) – Fiona Harvey, a Scottish lawyer, is suing Netflix and Richard Gadd for defamation, seeking at least $170 million. She claims that the miniseries “Baby Reindeer” falsely portrays her as a stalker and criminal, damaging her reputation, as many viewers believe she is the “real” Martha, the show’s character. Additionally, Netflix has revealed details of the animated films “Spellbound” and “Pookoo,” developed in collaboration with Skydance Animation. “Spellbound” tells the story of Ellian, who seeks to break the spell that turned her parents into monsters, set for release on November 22. “Pookoo” explores the adventure of enemies swapping places, set to premiere in 2025.

Amazon (NASDAQ:AMZN) – Amazon faces a $1.3 billion lawsuit from about 35,000 British retailers, alleging that the company misused their data on the Marketplace to favor its own products and profit, thereby harming competition. The lawsuit was initiated by the British Independent Retailers Association in London.

Mercado Libre (NASDAQ:MELI) – The Latin American e-commerce leader plans to increase its investments in Brazil to more than $4.35 billion (23 billion reais), exceeding the initial forecast due to higher-than-expected sales. The company also expects to hire 11,000 people, up from the initially planned 6,500.

Walmart (NYSE:WMT) – Walmart is replacing paper labels with digital ones in its stores, allowing for quick price updates on more than 120,000 items in minutes. Previously, weekly updates took up to two days. This will improve efficiency and price management, as well as streamline product selection for online orders.

Starbucks (NASDAQ:SBUX) – Starbucks is starting a partnership with Grubhub to deliver coffee and beverages in the U.S., beginning in Pennsylvania, Colorado, and Illinois, with plans for national expansion by August. Meanwhile, Brazilian restaurant operator Zamp has closed a deal to acquire the rights to operate the Starbucks brand in Brazil for R$ 120 million, which includes managing some stores.

Costco Wholesale (NASDAQ:COST) – According to Reuters, when Costco opened a store in a rural Japanese town, it sparked strong competition for workers by offering high wages. In response, a local noodle shop increased wages by a third to retain and attract employees, despite the financial difficulties this posed.

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC’s sales in May grew 30%, reaching $7.1 billion, driven by demand in artificial intelligence and the recovery of consumer electronics.

Lyft (NASDAQ:LYFT) – Lyft plans to maintain its competitiveness in the U.S. ride-sharing market, aiming for annual gross bookings growth of 15% by 2027. The company is also diversifying its revenue sources and expects its new advertising sector to grow eightfold in the same period.

Hertz Global Holdings (NASDAQ:HTZ) – Bloomberg reported on Thursday that Hertz is considering raising at least $700 million through secured debt and convertible notes to strengthen its balance sheet.

Instacart (NASDAQ:CART) – Instacart launched a new $500 million share repurchase program to bolster confidence in its growth potential. Completing two previous buyback rounds, the company reiterated its commitment to growth.

Toyota Motor (NYSE:TM), Mitsubishi UFJ Financial Group (NYSE:MUFG), Sumitomo Mitsui Financial Group (NYSE:SMFG) – Japan’s largest banks, MUFG and SMFG, will begin selling their strategic stakes in Toyota, valued at $8.5 billion. This move aligns with Japan’s corporate governance reforms, aimed at reducing cross-shareholdings between companies to avoid conflicts of interest and increase transparency.

Stellantis (NYSE:STLA) – Fiat, through Stellantis, has projected the production of the new hybrid Fiat 500e, with an expected annual sales range of 100,000 to 110,000 units. This version combines a gasoline engine and battery, offering a more affordable option compared to the fully electric model, which sold fewer than 80,000 units last year.

Nio (NYSE:NIO) – The Chinese electric vehicle manufacturer predicted on Thursday that its deliveries in the second quarter will more than double compared to the previous year, reaching between 54,000 and 56,000 units. The estimated revenue is about $2.3 billion. Despite the increase in sales, the company still reports losses.

Delta Air Lines (NYSE:DAL) – Delta Air Lines will announce plans for a new flight between Seattle and Washington’s Reagan National Airport, taking advantage of new legislation creating five new daily slots at this airport. Delta aims to increase competition and reduce prices on a route already served by Alaska Airlines (ALK).

Boeing (NYSE:BA) – Boeing’s space taxi, the CST-Starliner, successfully docked with the International Space Station, carrying NASA astronauts Sunita Williams and Barry Wilmore for a critical test flight. Despite initial thruster issues, the mission marks an important step for Boeing in space transportation.

Lockheed Martin (NYSE:LMT) – Germany plans to acquire eight additional F-35 fighters from Lockheed Martin, in addition to the 35 already ordered, raising the total number to 43. This acquisition reflects Berlin’s commitment to updating its defense capabilities with the most advanced aircraft available.

Devon Energy (NYSE:DVN) – Devon Energy lost bids to acquire three oil and gas companies due to the rejection of its stock as a form of payment. This includes failing to outbid offers from ConocoPhillips and Occidental Petroleum, respectively $22 billion and $12 billion, negatively affecting its competitive position.

Sociedad Quimica y Minera de Chile (NYSE:SQM), Rothschild & Co (EU:ROTH) – Rothschild & Co is leading the search for partners for Codelco in a new major lithium project in Chile, called the “Paloma Project,” with production expected to start in 2030. The project initially contemplates lithium production through evaporation ponds, with a future possibility of using direct lithium extraction technology.

Moody’s (NYSE:MCO) – Moody’s Ratings placed the long-term debt ratings of U.S. regional banks, including Old National Bancorp (NASDAQ:ONB), under review for downgrade due to concerns about exposure to the commercial real estate sector. The justification is the concentration in loans from this sector, increasing risks during recession periods. Additionally, a Moody’s report highlights that most global insurers plan to invest more in the private credit market in the coming years. This market, although less transparent and riskier than public credit, has attracted insurers due to attractive returns, especially in the U.S., where these holdings already represent 36% of their regional investments.

Emerson (NYSE:EMR), Blackstone (NYSE:BX) – Emerson agreed to sell its 40% stake in the Copeland joint venture to Blackstone for $3.5 billion, seeking to simplify its business and focus more on automation.

PayPal (NASDAQ:PYPL) – PayPal shares are up 0.25% in pre-market trading, following a 5.5% increase on Thursday. The rise came amid optimistic expectations for the new Fastlane product, which simplifies the checkout process. This represents a rebound after underperforming the market in recent years.

Citigroup (NYSE:C) – Analysts at BofA Securities suggest that Citigroup could sell its wealth management business due to inefficiency and uncertain results in this segment. Jane Fraser, Citigroup’s CEO since 2021, is restructuring the bank, reducing businesses and jobs, and introducing new leaders to streamline operations.

Morgan Stanley (NYSE:MS) – Morgan Stanley faces disputes due to a judge’s decision classifying its deferred compensation programs under ERISA law, affecting arbitrations over payments. The company seeks review of the decision, arguing that it complicates its defense in other similar arbitrations.

Waystar Holding Corp. (WAY) – The healthcare payments software maker set the price of its initial public offering (IPO) at $21.50 per share, hitting the midpoint of the $20 to $23 range. With this, the company raised $968 million, reaching a market value of about $3.6 billion. Waystar plans to use the proceeds to pay off debt. Waystar shares will begin trading on Friday on the Nasdaq Global Select Market under the symbol WAY.

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/94005246/gme-volatile-as-roaring-kitty-goes-live-today-met

What to expect from Apple’s AI-powered WWDC
Tuesday, June 4, 2024 2:33 pm
4 Comments

Apple’s Worldwide Developers Conference (WWDC) next week promises to be a pivotal moment in the company’s history as Cupertino will reveal how it plans to integrate AI technology into its operating systems, software, and devices, including through a historic partnership with OpenAI.

Sarah Perez for TechCrunch:

As the big event nears, all sorts of leaks have emerged about what iOS 18 and its rumored AI-powered apps and features have in store.

Among the changes, Apple is said to be powering some of its new AI features with its Ajax LLM. Other reports indicate that Apple plans to process data from AI in a way that even employees won’t be able to access, which would help Apple continue to deliver on its promise of data privacy for its users.

Apple’s digital assistant is prepared to get an AI revamp. The digital assistant will leverage Apple’s own large language models and will allow Siri to control individual features inside applications… A more advanced Siri will also come to Apple Watch for on-the-go use. You could use Siri on your Watch to play music on another device, one report said.

Generative AI emojis will be supported [in Messages], letting users create their own emojis with technology.

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

MacDailyNews Take: For better, hopefully, or worse, WWDC24 certainly will be a pivotal moment in Apple’s history. Go, Apple marketing, go!

[W]e’ve been wanting [an iPhone or iPad to automatically generate Memoji for users] from the start as, despite our best efforts, some of our Memoji end up only vaguely reminiscent of the person they’re supposed to represent*.

*as a cartoon 10-year old. – MacDailyNews, October 22, 2019

https://macdailynews.com/2024/06/04/what-to-expect-from-apples-ai-powered-wwdc/

Interesting insight into the Apple partnership rumor, in my humble opinion.

LilBidMan
•
2d ago
Jasmy’s PDL & KYC mechanisms are built into iTrust identity authentication software which is being used for device & user authentication for the MyNumberCard card.

Jasmy has been testing its tech with the MyNumberCard since at least 2018.

on another level, the MyNumber card uses the FeliCa IC chip developed by members of the Jasmy team, and Jasmy is the developer of the blockchain integrated FeliCa Chip.
SoftBank was the original company to bring the iPhone to Japan & one of Jasmy’s execs was responsible for that happening. and since Jasmy is still very close to SoftBank, it is another good indicator that Jasmy is involved.

so it is very possible that Jasmy is deeply connected to this development.

also take into account that the news came from Binance & Binance has a history of creating negative perceptions for Jasmy, so this could be used to create fud later on.

so far the Apple/ Jasmy announcement is not verified by Apple or Jasmy, but Jasmy’s involvement in securing data for the MyNumberCard is 100% verified.

so it’s not completely in the realm of fantasy if you can make that leap of faith and zoom out.

https://www.reddit.com/r/JasmyToken/comments/1d6rj7r/apple_partnership_rumor/

Station Labs Leadership to Join Coinbase to Make Smart Wallets the Default
Tl;dr: Coinbase is doubling down on smart wallets by bringing onboard the leadership of Station Labs, who have deep expertise in building onchain developer tools.
By Coinbase Company, June 4, 2024

Top talent is one of Coinbase’s core cultural tenets. We believe that having exceptional people in every seat is vital to achieving our mission of increasing economic freedom in the world by bringing the world onchain.

In pursuit of bringing in top onchain talent, today we’re excited to announce that the founders of Station Labs will be joining Coinbase to work on Base, the Smart Wallet, and our onchain developer product suite. As a team of deeply onchain-native builders, Station’s founders will leverage their unique expertise with complex concepts such as smart wallets and account abstraction to help accelerate and expand our onchain developer product suite.

One of the biggest barriers to growing onchain adoption is the complexity of onboarding for both consumers and developers. Station’s founders have extensive experience building tooling for developers and creators to integrate core onchain primitives such as wallets, token-based experiences, and abstracting away gas fees for consumers.

We’re thrilled to bring in the Station team at a critical and exciting time for our onchain product suite. As Base and the broader L2 ecosystem continue to grow, we’re committed to providing developers with easy-to-use tooling to lower the barriers for consumers with phraseless, gasless, onchain experiences. Station’s founders represent some of the brightest minds in the onchain tools space and we look forward to working with them to bring the next generation of builders onchain.

https://www.coinbase.com/blog/station-labs-leadership-joins-coinbase-to-make-smart-wallets-the-default?__cf_chl_rt_tk=vI_gELjWevVkhtFcjWU6a.X.WDHw7H1cOZXkkizVEeE-1717525634-0.0.1.1-5374

Carpenter uses AirTag to locate huge trove of stolen tools
BY ED HARDY • 1:25 PM, JUNE 3, 2024

A Virginia carpenter put Apple AirTag trackers on some of his tools so he could find them if they were stolen. It worked beyond his wildest expectations — he led police to what eventually turned out to be multiple collections of 15,000 stolen construction tools.

This is far from the first time an AirTag has helped locate a stolen item. But it’s never been quite this enourmously successful before.

AirTag helps recover thousands of stolen tools

Apple’s description for AirTag makes it clear the intent is to help people find misplaced items, like car keys. But some people put the tags on their possessions so they can track them down if they’re stolen.

A Virginia’s carpenter did just that after the second time he’d lost some of his work tools to thieves. When it happened again in January, he drove around the D.C. suburbs using his iPhone and the Find My application to locate the stolen AirTags, according to the Washington Post.

He was eventually led to a storage facility where he called in the police. They obtained a search warrant and discovered way more than this one man’s stolen carpentry tools. It was quite a large pile of similar items, and police started an investigation that eventually lead to almost a dozen other such collections.

“Howard County police have recovered approximately 15,000 stolen construction tools in what is believed to be one of the largest and most expansive theft schemes in the region in recent years,” reports the Howard County Police Department.

#HoCoPolice have recovered approximately 15,000 stolen construction tools totaling $3-$5 million in what is believed to be one of the largest and most expansive theft cases in the region in recent years. More info and to recover stolen tools: https://t.co/ecfD8G2eFP pic.twitter.com/eHv5n8qqzQ

— Howard County Police Department (@HCPDNews) May 23, 2024

Police estimate that the total value of the recovered items is between $3 million and $5 million. The construction tools were apparently stolen from retail stores, vehicles, homes and construction sites over months.

So far, no arrests have been made. Still, police are trying to return the recovered property. Those affected can fill out a form requesting their stolen items back.

Be careful!

Apple doesn’t recommend using AirTags to track stolen items because it can lead to dangerous confrontations with criminals.

The carpenter in the construction tool case handled it about as safely as possible by calling in police as soon as he’d found his missing items.

But in 2022, a New York City man used an AirTag to tack down his stolen scooter. He used poor judgement and confronted the apparent thief without the help of police and got the $%#@ beat out of him.

https://www.cultofmac.com/858297/carpenter-uses-airtag-to-locate-huge-trove-of-stolen-tools/

No new Apple TV hardware is imminent at this time – Mark Gurman
Monday, June 3, 2024 1:46 pm
1 Comment

Apple fans waiting for a new Apple TV might have to hold on a bit longer. Bloomberg News’ Mark Gurman throws cold water on previous rumors of a first-half-2024 release, suggesting it’s not coming “imminently.”

While specifics are still under wraps, analysts predict a faster processor and potentially a more affordable price tag (sub-$100 according to Ming-Chi Kuo) for the next iteration. However, the Sellers Research Group believes Apple won’t slash the price, but rather focus on adding more value to justify the current cost. They might offer older models at a discount though.

As for design, no major changes are expected, but Gurman hints at Apple’s future exploration of a built-in camera for the Apple TV.

MacDailyNews Take: The wait continues.

Related

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https://macdailynews.com/2024/06/03/no-new-apple-tv-hardware-is-imminent-at-this-time-mark-gurman/

Judge wants to see months of documents to decide if Apple violated an App Store injunction
Apple World Today
By Dennis Sellers
Jun 3, 2024, 8:10 am

photo of Judge wants to see months of documents to decide if Apple violated an App Store injunction imageJudge wants to see months of documents to decide if Apple violated an App Store injunction. The post Judge wants to see months of documents to decide if Apple violated an App Store injunction appeared first on Apple World Today.

https://machash.com/apple-world-today/373075/judge-wants-to-see-months-documents-to-decide-apple/

Apple to add Japan’s ‘My Number’ ID card functions to iPhone
Thursday, May 30, 2024 8:58 am
1 Comment

At the request of Japanese Prime Minister Fumio Kishida, Apple CEO Tim Cook agreed to put Japan’s “My Number” identification card functions onto iPhones, Japan’s top government spokesperson said on Thursday.

The Japanese government plans to integrate people’s tax and social security data into a single identification card to boost administrative efficiency.

The comment from Chief Cabinet Secretary Yoshimasa Hayashi comes after Kishida’s video conference earlier in the day with Cook.

“Prime Minister Kishida and Mr. Tim Cook confirmed that My Number card functions will be put on iPhones next spring,” Hayashi told a regular news conference.

MacDailyNews Take: Tracktastic!

“There will come a time when it isn’t ‘They’re spying on me through my phone’ anymore. Eventually, it will be ‘My phone is spying on me’.” - Philip K. Dick

“As information itself becomes the largest business in the world, data banks know more about individual people than the people do themselves. The more the data banks record about each one of us, the less we exist.” - Marshall McLuhan

“The way things are supposed to work is that we’re supposed to know virtually everything about what they [the government] do: that’s why they’re called public servants. They’re supposed to know virtually nothing about what we do: that’s why we’re called private individuals.” - Glenn Greenwald

Related

Apple CEO Cook relayed concern over App Store curbs to Japanese Prime Minister
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https://macdailynews.com/2024/05/30/apple-to-add-japans-my-number-id-card-functions-to-iphone/

Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20%
May 31 2024 - 11:00AM
NEWSBTC

https://ih.advfn.com/stock-market/COIN/JASMYUSD/crypto-news/93960248/rumor-of-apple-partnership-sends-crypto-altcoin-so

Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20%
Jake Simmons
1 hour ago
2 mins read

A whirlwind of speculation is currently surrounding the crypto asset JasmyCoin (JASMY), colloquially termed the “Bitcoin of Japan,” following a recent announcement from the Prime Minister’s Office of Japan. Yesterday, it was disclosed that a video conference between Prime Minister Kishida and Apple CEO Tim Cook had confirmed the integration of Japan’s My Number Card function into iPhones by next spring.

The news has sparked a significant rally for JASMY, leading to a 20% increase in its market value within the last 24 hours, pushing its market capitalization to $1.4 billion and ranking it the 67th largest cryptocurrency by market cap. The altcoins’ 24-hour trading volume has also surged by 400% to $570 million.

While the My Number Card system—a personal identification framework by the Japanese government—is not officially related to JasmyCoin, rumors have circulated regarding a potential linkage for a few months. Despite no formal confirmation, investors are seemingly speculating on a linkage, influenced by the broader interpretation of Japan’s digital strategy, which includes fostering Web3 technologies like blockchain and IoT, domains where JasmyCoin is a significant player.

JasmyCoin, established in 2016 by former Sony executive Kazumasa Sato, aims to provide secure data transactions and storage for IoT devices. The cryptocurrency is rumored to be part of Japan’s broader approach to integrate advanced technologies into everyday life, including the Metaverse and NFTs. “Jasmy’s mission is to facilitate the democratization of data through secure management and storage solutions, allowing individuals to retain control over their personal information.

Speculation about JasmyCoin’s involvement with the My Number Card system seems further fueled by an erroneous report shared on Binance Square, suggesting a direct integration of JASMY with the card’s functionality on iPhones. However, this claim has not been substantiated by any official sources.

The Japanese government has been a proponent of adopting Web3 innovations as a strategy for economic growth, with the Prime Minister himself emphasizing the importance of digital transformations in recent public addresses. The optimistic outlook for blockchain technology in Japan has been a boon for JasmyCoin, with the government’s digital policy indirectly benefiting the cryptocurrency.

The recent surge in JASMY’s market activity demonstrates the volatile nature of cryptocurrency markets, where rumors and expectations can drive significant price movements. As it stands, while JasmyCoin is indirectly aligned with Japan’s digital ambitions, direct partnerships or integrations with governmental projects like the My Number Card have not been officially confirmed.

Since February 19, JASMY has rallied by approximately 380%. However, the altcoin is still down more than 91% from its all-time high of $0.35 in October 2021. At press time, JASMY traded at $0.03068.

https://www.newsbtc.com/news/rumor-apple-partnership-crypto-altcoin-20/

All i could find was this link to an article on Binance, but nothing from my Apple sources or the official Jasmy corporate site:
https://www.binance.com/en/square/post/8790930670033

This is usually a good link for status from actual Jasmy investors...https://www.reddit.com/r/JasmyToken/

Sam Altman tightens grip over OpenAI as he inks major deal with Apple
Thursday, May 30, 2024 2:04 pm
2 Comments

OpenAI CEO Sam Altman has consolidated his grip on power at the tech firm that briefly ousted him last fall by inking a major deal with Apple to incorporate artificial intelligence into its products, according to a report.

Ariel Zilber for The New York Post:

The 39-year-old tech mogul has pushed out his rivals from the company’s board and is moving full steam ahead with plans to overhaul its nonprofit structure.

With the Apple deal, Altman is now hoping bring the company closer to its goal of one day replacing Google as the iPhone maker’s search partner for its Safari web browser, according to The Information… But Altman’s plans face potential roadblocks.

Microsoft, which has invested billions of dollars in OpenAI, is reportedly concerned about how the deal with Apple could affect its own AI ambitions.

Altman recently held a meeting with Microsoft CEO Satya Nadella to discuss Microsoft’s concerns, according to The Information.

MacDailyNews Take: Screw Satya Nadella’s “concerns.” Microsoft has always been and remains a maker of mediocre-at-best tech. If it isn;t already, Microsoft will be an albatross around OpenAI’s neck. OpenAI will benefit greatly from any association with Apple until Apple catches up in GenAI and is ready to do it itself (which hopefully goes better and faster than Apple’s modem efforts).

I’ve always wanted to own and control the primary technology in everything we do. — Steve Jobs

See also:
• Apple to power some AI features with via data centers using Apple Silicon – May 9, 2024
• Apple teaming with OpenAI on chatbot to be announced at WWDC – May 20, 2024

Related

OpenAI staff near total mutiny, threaten to follow founder Sam Altman to Microsoft
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https://macdailynews.com/2024/05/30/sam-altman-tightens-grip-over-openai-as-he-inks-major-deal-with-apple/

Former Democratic Congressman Kendrick Meek to Join the Coinbase Global Advisory Council
Tl;dr: The Coinbase Global Advisory Council is thrilled to welcome a valuable new member who will be instrumental in navigating the complex and evolving crypto industry. This addition will enhance Coinbase's efforts to promote crypto at state, local, and community levels, while strengthening relationships with strategic stakeholders worldwide.

By Coinbase Policy, May 21, 2024
, 3min read time

https://www.coinbase.com/blog/former-democratic-congressman-kendrick-meek-to-join-the-coinbase-global?__cf_chl_rt_tk=62q4Y5TRGybFfcpGFgaEKer8eLJ0dkoOSUoeKkPFTBo-1716577182-0.0.1.1-1770

Strengthening our Defenses with SEAL Wargame Simulations
TL;DR: We conducted a successful SEAL wargame with Base and Optimism (OP), testing our response to a simulated vulnerability in bridge withdrawals.

By Coinbase’s Protocol Security & Security Operations Teams Engineering, May 22, 2024
, 3min read time

https://www.coinbase.com/blog/strengthening-our-defenses-with-seal-wargame-simulations?__cf_chl_rt_tk=OUtOWmOM8FQlud_QTKx7eqKP4XGSRqJO6jvH0b1GDCo-1716577668-0.0.1.1-1749

Stand with Crypto expands in the UK
TL;DR: Stand with Crypto unites global crypto advocates, forming a passionate community committed to driving sensible crypto innovation and crypto policy. In the United States the movement has reached over 700,000 sign-ups and is continuing to grow. With the passing of FIT21 this week in the House of Representatives, momentum is stronger than ever. The United Kingdom, our largest international market, has over 6 million crypto holders. Now is the time to expand the Stand with Crypto initiative internationally and make these crypto advocates' voices heard. The UK movement begins now.

By Tom Duff Gordon International, May 24, 2024

https://www.coinbase.com/blog/stand-with-crypto-expands-in-the-uk?__cf_chl_rt_tk=DqiItn5GRyCOhorgLVE7ygwOxwVX3vvBVqrLvnU08xo-1716578053-0.0.1.1-1685

Wedbush hikes Apple price target to $275 as AI iPhone supercycle looms
Friday, May 24, 2024 12:52 pm
2 Comments

Dan Ives, WedBush Securities analyst, joins ‘Squawk on the Street’ to discuss Apple, his outlook on the stocks’ target price, China, and more.

June will be Apple’s last negative quarter in China and the company will experience an “unprecedented renaissance of growth,” Ive’s says.

Raising our Apple price target from $250 to $275 to reflect iPhone demand turning the corner into an AI driven iPhone 16 supercycle on the horizon. AI technology built into the Apple ecosystem adds $30 to $40 per share to the stock in our view. WWDC a key moment ahead for 🍎 🐂🏆

— Dan Ives (@DivesTech) May 23, 2024

Takarazuka University Tokyo Media Arts Department announced that they will be producing and distributing manga content for Sagan Tosu's "Wintos Junior" in collaboration with Jasmy!
2024-05-24

https://www.jasmy.co.jp/

Takarazuka University's Tokyo Media Arts Faculty, in collaboration with Jasmy Inc., will produce manga content "Let's Play Soccer with Wintos Jr." for the Sagan Tosu Fan Token mascot character "Wintos Jr." as a support project for the professional soccer club Sagan Tosu, based in Tosu City, Saga Prefecture. From Friday, May 24th, each episode from the second episode onwards, in which students will be in charge of naming, drawing and new character design, will be released sequentially within the supporter activity app "Sagan Tosu Fan Token."

Takarazuka University's Tokyo School of Media Arts has entered into an industry-academia collaboration with Jasmy Inc. through manga (culture) as an initiative that brings together sports, academia and business. As a support project for Sagan Tosu, a professional soccer club based in Tosu City, Saga Prefecture, the School will produce manga content called "Let's Play Soccer with Wintos Junior" for the Sagan Tosu Fan Token mascot character "Wintos Junior".

From Friday 24th May, each episode from the second episode onwards will be released sequentially on the supporter activity app "Sagan Tosu Fan Token", in which students will be responsible for the names, illustrations and new character designs.

"Let's Play Soccer with Wintos Jr." depicts the adventures and growth of the three Wintos Jr. brothers with a theme of diversity.

·Address: Aoyama Building 11F, 2-3 Kita-Aoyama 1-chome, Minato-ku, Tokyo

·Established: April 5, 2016

- Business description: Providing platforms and solutions for IoT

·Website:https://www.jasmy.co.jp/





Address: 7-11-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

·Access: About 5 minutes walk from the west exit of JR Shinjuku Station

Established: April 2007

Department: Media Arts Department

·Specialties: illustration, manga, animation, games, media design

·Website:https://www.takara-univ.ac.jp/tokyo/

·Email address: tokyo@takara-univ.ac.jp

https://www.value-press.com/pressrelease/337378

Apple challenges €1.8 billion EU antitrust fine
Tuesday, May 21, 2024 12:17 pm
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Apple is challenging a €1.8 billion (US$1.9 billion) European Union fine alleging the company thwarted fair competition among music-streaming rivals, including the perpetually whining Spotify.

Samuel Stolton for Bloomberg News:

[Apple] has filed a suit at the EU’s General Court in Luxembourg to topple the March decision, according to people familiar with the matter who spoke on condition of anonymity.

The EU’s crackdown on Apple also included an order to stop preventing music-streaming apps from informing users of cheaper deals away from its App Store.

Apple’s appeal sets up yet another court battle with the EU regulator, which previously slapped the Cupertino, California-based company with a record €13 billion tax bill in a dispute over Irish state aid. The final outcome is still pending after Apple won an early round.

MacDailyNews Take: Apple in March released a statement, “The App Store, Spotify, and Europe’s thriving digital music market,” which addresses the European Commission’s decision claiming the App Store has been a barrier to competition in the digital music market and fining Apple $2 billion.

Apple Inc.:

Today, the European Commission announced a decision claiming the App Store has been a barrier to competition in the digital music market. The decision was reached despite the Commission’s failure to uncover any credible evidence of consumer harm, and ignores the realities of a market that is thriving, competitive, and growing fast.

The primary advocate for this decision — and the biggest beneficiary — is Spotify, a company based in Stockholm, Sweden. Spotify has the largest music streaming app in the world, and has met with the European Commission more than 65 times during this investigation.

Today, Spotify has a 56 percent share of Europe’s music streaming market — more than double their closest competitor’s — and pays Apple nothing for the services that have helped make them one of the most recognizable brands in the world. A large part of their success is due to the App Store, along with all the tools and technology that Spotify uses to build, update, and share their app with Apple users around the world.
We’re proud to play a key role supporting Spotify’s success — as we have for developers of all sizes, from the App Store’s earliest days.

The App Store Journey

Since the App Store launched more than 15 years ago, Apple has had two simple goals: creating a safe and trusted marketplace for our users, and an incredible business opportunity for developers. That approach seems simple, but the app economy it inspired helped drive one of the fastest growth curves in the history of technology.
Today, developers compete on a level playing field on the App Store. Apps are reviewed according to a comprehensive set of rules, which are designed to protect our users. And meeting those rules means developers of all sizes can reach more than a billion devices around the world.

Over time, the App Store has offered developers even more value. But the vast majority of developers — about 86 percent — never pay Apple a commission.

Today, there are just two circumstances where a developer on the App Store pays Apple a commission. That’s when a user buys a paid app from the App Store or an in-app digital good or service — like a subscription or a power-up in a game.

If a developer sells physical goods, serves ads in their app, or just shares an app for free, they don’t pay Apple anything. The same is true if a developer sells a subscription on the web for users to buy, before they use it in an app on their device. Music app developers can even include information about other offers available outside of their app, along with a link directing users to a website to create and manage their account.
Over time, the App Store has helped developers of all sizes build successful businesses and reach people around the world. And few companies embody that story better than Spotify.

Spotify’s Dominant Share of the Market

Starting out as a small startup in Stockholm, Sweden, Spotify has grown their company into the largest digital music business in the world. They have a more than 50 percent share of the European market, and on iOS, Spotify has an even higher share than they do on Android.

But that’s just part of the picture, because Europe’s digital music market has absolutely exploded. Companies compete for new customers. Consumers have many options to choose from. And last year, there were nearly 160 million subscribers — up from 25 million in 2015 — a staggering 27 percent growth rate per year.
Companies like Google, Amazon, Deezer, SoundCloud, and Apple compete for customers every day — but Spotify stands at the top.

Spotify Pays Apple Nothing

Despite that success, and the App Store’s role in making it possible, Spotify pays Apple nothing. That’s because Spotify — like many developers on the App Store — made a choice. Instead of selling subscriptions in their app, they sell them on their website. And Apple doesn’t collect a commission on those purchases.

All told, the Spotify app has been downloaded, redownloaded, or updated more than 119 billion times on Apple devices. It’s available on the App Store in over 160 countries spanning the globe. And there are many more ways
Apple creates value for Spotify, at no cost to their company:

• Our engineering helps ensure that Spotify’s apps can work seamlessly with Siri, CarPlay, Apple Watch, AirPlay, Widgets, and more.

• Like every developer, Spotify can access Apple’s more than 250,000 APIs — and uses 60 of our frameworks — so their apps can connect with Bluetooth, send notifications, play audio in the background of a user’s device, and more.

• Spotify has used our beta-testing tool, TestFlight, for almost 500 versions of their app to experiment with new features and capabilities.

• Our App Review team has reviewed and approved 421 versions of the Spotify app — usually with same-day turnaround — and frequently expedites reviews at Spotify’s request.

It takes continuous effort and a lot of investment for Apple to make the tools, the technology, and the marketplace that Spotify uses every day. We’ve even flown our engineers to Stockholm to help Spotify’s teams in person. And the result is that when a user opens the Spotify app, listens to music on their commute, or asks Siri to play a song from their library, everything just works. And again — Spotify pays Apple nothing.

When it comes to doing business, not everyone’s going to agree on the best deal. But it sure is hard to beat free.

Spotify Wants More

But free isn’t enough for Spotify. They also want to rewrite the rules of the App Store — in a way that advantages them even more.

Like many companies, Spotify uses emails, social media, text messages, web ads, and many other ways to reach potential customers. Under the App Store’s reader rule, Spotify can also include a link in their app to a webpage where users can create or manage an account.

We introduced the reader rule years ago in response to feedback from developers like Spotify. And a lot of reader apps use that option to link users to a webpage — from e-readers to video streaming services. Spotify could too — but they’ve chosen not to.

Instead, Spotify wants to bend the rules in their favor by embedding subscription prices in their app without using the App Store’s In-App Purchase system. They want to use Apple’s tools and technologies, distribute on the App Store, and benefit from the trust we’ve built with users — and to pay Apple nothing for it.

In short, Spotify wants more.

Spotify’s Coordination with the European Commission

In 2015, Spotify started working with the European Commission on an investigation with little grounding in reality. They claimed the digital music market had stalled, and that Apple was holding competitors back. Unfortunately for their case, Spotify continued to grow — and thanks in part to the App Store, eclipsed every other digital music business in the world.

Over the next eight years, and more than 65 meetings with Spotify, the European Commission has tried to build three different cases. With every pivot, they’ve narrowed the scope of their claims — but each theory has had a couple of features in common:

• No evidence of consumer harm: European consumers have more choices than ever in a digital music market that’s grown exponentially. In just eight years, it’s gone from 25 million subscribers to almost 160 million — with more than 300 million active listeners — and Spotify has been the biggest winner.

• No evidence of anti-competitive behavior: Eight years of investigations have never yielded a viable theory explaining how Apple has thwarted competition in a market that is so clearly thriving.

The European Commission is issuing this decision just before their new regulation — the Digital Markets Act (DMA) — comes into force. Apple is set to comply with the DMA in days, and our plans include changes to the rules challenged here. What’s clear is that this decision is not grounded in existing competition law. It’s an effort by the Commission to enforce the DMA before the DMA becomes law.

The reality is that European consumers have more choices than ever. Ironically, in the name of competition, today’s decision just cements the dominant position of a successful European company that is the digital music market’s runaway leader.

What’s Next?

Apple has been a part of Europe for over 40 years, and today, we support more than 2.5 million jobs across the continent. We’ve helped markets thrive, promoting competition and innovation at every turn — and the App Store is an important part of that story. So while we respect the European Commission, the facts simply don’t support this decision. And as a result, Apple will appeal.

The digital music market is a great example of the app economy at work. After all, over the App Store’s 15 years, a simple phrase — there’s an app for that — has become a universal truth. And today, behind every app is a wildly successful company or an aspiring entrepreneur chasing a dream.

Every day, teams at Apple work to keep that dream alive. We do it by making the App Store the safest and best experience for our users. We do it by giving developers the means to make incredible apps. Most of all, we do it because apps have an incredible capacity to drive innovations that empower people and enrich their lives.

MacDailyNews Take: As we wrote on March 4, 2024:

The European Union arose because the Europeans couldn’t compete on their own with the rest of the world, so they each lined up to surrender their national sovereignty, unique cultures, and dignity for an undemocratic, opaque, wasteful, bloated, bureaucratic quasi-governmental blob – and, even with the EU’s thumbs all over the scale, they still can’t compete.

MacDailyNews Note: Spotify does pay Apple something: $99 per year, the same as every other developer with an app in Apple’s App Store.

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Monday, September 27, 2021
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https://macdailynews.com/2024/05/21/apple-challenges-e1-8-billion-eu-antitrust-fine/

Apple and Île-de-France Mobilités introduce Navigo card for iPhone and Apple Watch
May 21 2024 - 11:30AM
Business Wire

Customers can add a Navigo card to Apple Wallet and simply tap their iPhone or Apple Watch to ride the metro, train, bus, and more in the Paris region

Apple® and Île-de-France Mobilités today introduced an easy, secure, and private way for customers to add a new Navigo card to Apple Wallet® and purchase passes to ride transit in the Paris region. Riders can buy passes from the Île-de-France Mobilités iOS app or directly from Apple Wallet, and use an iPhone® or Apple Watch® to tap and ride. Additionally, beginning this week, real-time transit information in Apple Maps is available in Paris to help users navigate their travels throughout the city.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240521622614/en/

“In the lead-up to what will surely be an amazing summer for the Paris region, we’re thrilled to bring Navigo cards to Apple Wallet and provide Parisians and visitors with an incredibly convenient and secure way to ride transit in Paris and explore the city,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “Users will love the safety, security, and seamlessness of purchasing passes and riding with a Navigo card in Apple Wallet on iPhone and Apple Watch.”

Add a New Navigo Card to Apple Wallet and Buy a Transit Pass

Starting today, users can quickly and easily add a new Navigo card to Wallet by opening the Wallet app, tapping the Add (+) button, selecting “Transit Card,” and following the instructions. With a Navigo card in Apple Wallet, users no longer need to visit a ticket vending machine or reload a Navigo card at retailers, as they can purchase any pass from the Île-de-France Mobilités iOS app or select passes in Apple Wallet. Riders can purchase t+, t+ reduced price, OrlyBus, RoissyBus tickets, and Navigo Day passes in Apple Wallet by selecting their Navigo card of choice, tapping the More (…) button, and selecting “Buy Passes.”

Tap to Ride with Navigo Card in Apple Wallet

Navigo cards in Apple Wallet allow for an easy and convenient commuting experience. Users can easily select their Navigo card from Apple Wallet and double-click the side button, or if they have Express Mode enabled, a user can simply hold their iPhone or Apple Watch near a reader to ride transit in Paris without having to unlock or wake up their device.1 With power reserve on iPhone, if a customer’s device needs to be charged, they can still use it to ride transit.2

Security and Privacy

Navigo cards in Apple Wallet take full advantage of the privacy and security built into iPhone and Apple Watch. Navigo cards stored in Apple Wallet are private and secure, and Apple never tracks users’ journeys. When customers add a Navigo card to Apple Wallet, the card information is encrypted and securely stored in the Secure Element, an industry-standard, certified chip designed to store the information safely on the device. If a user’s iPhone or Apple Watch is misplaced, the owner of the device can promptly use the Find My® app to lock and help locate the device.

Real-Time Transit Updates in Apple Maps

Also beginning this week, real-time transit information is available in Apple Maps for the Paris metro, RER, Paris tramway, RATP buses, and more. With real-time transit in Maps, users in Paris can see detailed schedules, live departure and arrival times, and system connections to help plan a journey. Apple Maps will now also offer users in Paris important real-time transit information such as outages and delays.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

1 Express Mode requires iPhone XR or later, or Apple Watch Series 6 or later. Only one Navigo card can be enabled with Express Mode at a time. Additional cards must be manually selected.

2 Power reserve is available on iPhone XR or later. Express Mode becomes unavailable when the device is powered off.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.

© 2024 Apple Inc. All rights reserved. Apple, the Apple logo, Apple Wallet, iPhone, Apple Watch, and Find My are trademarks of Apple. Other company and product names may be trademarks of their respective owners.



View source version on businesswire.com: https://www.businesswire.com/news/home/20240521622614/en/

Heather Norton
Apple
heather_norton@apple.com

Kimberly Mai
Apple
k_mai@apple.com

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93899105/apple-and-ile-de-france-mobilites-introduce-navigo

Apple announces new accessibility features, including Eye Tracking, Music Haptics, and Vocal Shortcuts
Wednesday, May 15, 2024 11:01 am
No Comments

Apple today announced new accessibility features coming later this year, including Eye Tracking, a way for users with physical disabilities to control iPad or iPhone with their eyes. Additionally, Music Haptics will offer a new way for users who are deaf or hard of hearing to experience music using the Taptic Engine in iPhone; Vocal Shortcuts will allow users to perform tasks by making a custom sound; Vehicle Motion Cues can help reduce motion sickness when using iPhone or iPad in a moving vehicle; and more accessibility features will come to visionOS. These features combine the power of Apple hardware and software, harnessing Apple silicon, artificial intelligence, and machine learning to further Apple’s decades-long commitment to designing products for everyone.

“We believe deeply in the transformative power of innovation to enrich lives,” said Tim Cook, Apple’s CEO, in a statement “That’s why for nearly 40 years, Apple has championed inclusive design by embedding accessibility at the core of our hardware and software. We’re continuously pushing the boundaries of technology, and these new features reflect our long-standing commitment to delivering the best possible experience to all of our users.”

“Each year, we break new ground when it comes to accessibility,” said Sarah Herrlinger, Apple’s senior director of Global Accessibility Policy and Initiatives, in a statement. “These new features will make an impact in the lives of a wide range of users, providing new ways to communicate, control their devices, and move through the world.”..

https://macdailynews.com/2024/05/15/apple-announces-new-accessibility-features-including-eye-tracking-music-haptics-and-vocal-shortcuts/

Coinbase to Participate in the J.P. Morgan Global Technology, Media and Communications Conference
May 15 2024 - 4:05PM
Business Wire

Coinbase Global, Inc. announced today that Emilie Choi, President and Chief Operating Officer, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the J.P. Morgan Global Technology, Media and Communications Conference on Tuesday, May 21, 2024, at 11:25 a.m. PT / 2:25 p.m. ET.

A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.

Disclosure Information

Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our X feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s X feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.



View source version on businesswire.com: https://www.businesswire.com/news/home/20240515689630/en/

Press:
press@coinbase.com

Investor Relations:
investor@coinbase.com

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93860125/coinbase-to-participate-in-the-j-p-morgan-global

Apple Music celebrates the greatest records ever made with the launch of inaugural 100 Best Albums list
May 13 2024 - 9:00AM
Business Wire

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93835136/apple-music-celebrates-the-greatest-records-ever-m

Annual Meeting of Stockholders 2024
June 14, 2024 10:00 AM PT
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https://investor.coinbase.com/events-and-presentations/events/event-details/2024/Annual-Meeting-of-Stockholders-2024-2024-PORhxaZ389/default.aspx

Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News
May 10 2024 - 8:02AM
IH Market News

Novavax (NASDAQ:NVAX), Sanofi (NASDAQ:SNY) – Novavax closed a $1.4 billion deal with Sanofi to commercialize its Covid-19 vaccine and develop a new combined vaccine against coronavirus and influenza, boosting NVAX shares by 56.70% in pre-market. The deal led Novavax to suspend its continuity warning, reversing its previous financial decline.

Apple (NASDAQ:AAPL) – Apple plans to launch artificial intelligence features through its own data centers powered by internal chips later this year, according to Bloomberg News. The chips, similar to those in Macs, will be used to process advanced AI tasks in the cloud, while simpler tasks will be handled on devices. Additionally, Apple apologized after criticism of its new iPad Pro ad, which depicted musical instruments and creative symbols being destroyed. The company stated that its goal is to celebrate user expression. The ad, titled “Crush,” received online backlash for its insensitivity.

Microsoft (NASDAQ:MSFT) – Microsoft will launch its own mobile gaming store in July, offering an alternative to Apple and Google’s app stores and their fees. The web-based store will initially feature Microsoft games, such as Candy Crush Saga, with discounts on in-game items. Xbox president Sarah Bond announced the change during the Bloomberg Technology Summit. The store will later open to other publishers. Bond emphasized the store’s accessibility on all devices and countries, independent of app store policies. Microsoft aims to create a store that transcends ecosystems, allowing a consistent gaming experience across consoles, PCs, and mobile devices.

Alphabet (NASDAQ:GOOGL) – OpenAI plans to launch its AI-based search product on Monday. The product is an extension of ChatGPT and allows for extracting information from the web, competing with Perplexity, an AI startup, and intensifying competition with Google.

Taiwan Semiconductor Manufacturing Company (NYSE:TSM) – TSMC’s sales in April surged 60% to $7.3 billion (NT$236 billion), driven by demand for artificial intelligence and a recovery in consumer electronics products. The company exceeded revenue growth estimates, strengthening its position as a global leader in contracted chips.

Baidu (NASDAQ:BIDU) – Baidu’s head of media relations, Qu Jing, resigned after videos endorsing the “996” work culture, dismissing team well-being. His comments sparked debate in China about the excessive demands of the tech industry. Qu later apologized. “996” is a term representing a common work practice in some tech companies in China, where employees are expected to work from 9 am to 9 pm, six days a week, totaling 72 hours of work per week.

Reddit (NYSE:RDDT) – CEO Steve Huffman announced at the Bloomberg Technology Summit that Reddit plans to introduce new products in the coming months, aiming to expand its revenue sources beyond advertising. The company is considering expanding its “user economy” and launching new versions of digital gifts. Additionally, it aims to close data licensing deals and explore international expansion and possible acquisitions.

Snap Inc. (NYSE:SNAP) – Snap’s CEO Evan Spiegel expressed the company’s commitment to ensuring user safety, especially for children, during the Bloomberg Technology Summit. He emphasized Snapchat’s focus on personal connections, advocating for shared responsibility among parents, companies, and online platforms.

Spotify (NYSE:SPOT) – Julie McNamara, head of Spotify Technology SA’s podcast studios, will leave the company after nearly three years, as announced in a memo to the staff on Thursday. Her departure highlights Spotify’s scaled-back ambitions in the podcast space, with McNamara returning to her creative roots.

T-Mobile (NASDAQ:TMUS), Verizon Communications (NYSE:VZ), United States Cellular (NYSE:USM) – T-Mobile and Verizon are in talks to acquire parts of United States Cellular in separate transactions, as reported by the Wall Street Journal. US Cellular shares increased by 8.6% on Thursday. T-Mobile is close to closing a deal for more than $2 billion to acquire a portion, taking over some operations and wireless spectrum licenses, while Verizon’s negotiations may be more prolonged and may not lead to a deal.

Vodafone (NASDAQ:VOD) – Next week will reveal how cost cuts and capital spending will shape the profit growth and cash flow for BT Group Plc, Deutsche Telekom AG, and Vodafone Plc. The carriers have set an optimistic baseline, forecasting a strong increase in free cash flow for Deutsche Telekom and Vodafone, while BT seeks to justify its expansion strategy.

Rio Tinto (NYSE:RIO) – Rio Tinto considered an offer for Anglo American, now under BHP’s control, with an acquisition target of $39 billion. BHP has until May 22 to make a formal offer.

Exxon Mobil (NYSE:XOM) – Calpers, the leading US public pension plan, is considering voting against the re-election of ExxonMobil’s CEO Darren Woods, due to shareholder discontent over a lawsuit against climate-focused investors.

BP plc (NYSE:BP) – BP’s electric charging unit is looking to expand in the United States following the disbandment of Tesla’s EV charging team. BP prioritizes the Northeast, Sun Belt, West Coast, and Great Lakes.

Tesla (NASDAQ:TSLA) – Tesla’s CEO Elon Musk praised the expansion plans for the Supercharger network after laying off nearly 500 employees responsible for the business. The company will invest “much more” than $500 million this year in expansion, a surprising move following its recent restructuring in the charging division. In other matters, Tesla was accused by a US labor agency of discouraging unionization at its Buffalo, New York factory by banning the use of personal devices. These allegations add to previous legal disputes over labor practices and racial discrimination. Additionally, a federal judge expressed on Thursday his inclination to compel Elon Musk to testify again in the SEC’s investigation into his $44 billion purchase of Twitter.

Zeekr Intelligent Technology – The Chinese electric vehicle manufacturer priced its US IPO at the top of the indicated range, raising $441 million. The IPO values the company at about $5.5 billion fully diluted. Strategic investors, including parent company Geely Automobile, purchased significant shares. Interest in the IPO comes amid fierce competition in China’s electric vehicle market.

Ford Motor (NYSE:F) – Ford is considering offering gasoline and hybrid vehicles beyond 2030 in Europe, contrary to its earlier plan for a fully electric lineup. The change is due to the slowdown in electric vehicle adoption in the region and the increased demand for hybrids. The company stated that it is closely monitoring the situation and will adapt as necessary. Additionally, the US National Highway Traffic Safety Administration (NHTSA) expressed “significant safety concerns” regarding the recall of over 42,000 Ford Motor SUVs due to fuel leaks that could cause engine fires. Ford proposed a software update and the installation of drains, but the NHTSA questions the effectiveness.

Boeing (NYSE:BA) – The US Securities and Exchange Commission is investigating claims made against Boeing Co. about air safety following a panel explosion on a 737 MAX flight. The investigation aims to determine if there was deception to investors.

Target (NYSE:TGT) – Target is planning to reduce the offering of LGBTQ+-themed products in some of its stores during Pride Month in June, following criticism last year. The full line will be available online, and the decision on physical presence will depend on store data analysis. The company will maintain support for Pride events, offering a selected collection of products in some stores and online.

Western Union (NYSE:WU) – Western Union announced the resumption of its remittance service from the US to Cuba after a three-month hiatus, restoring a vital connection for Cubans and their families in the US. Remittances are crucial to address the economic crisis exacerbated by sanctions and the pandemic.

UBS Group AG (NYSE:UBS) – UBS is exploring an incentive system for investment bankers who refer clients to the wealth management business. CEO Sergio Ermotti seeks to expand the bank’s invested assets following the acquisition of Credit Suisse, aiming for continued growth in the wealth management market.

Bain Capital (NYSE:BCSF) – Bain Capital is investing $250 million in Sikich, a Chicago-based business services company. This is the first external investment in Sikich, founded in 1982. CEO Christopher Geier views Bain’s involvement as crucial for the next stage of development.

Sony (NYSE:SONY), Blackstone (NYSE:BX), KKR (NYSE:KKR) – Sony and other interested parties, including Blackstone and KKR, plan to acquire Infocom Corp (USOTC:IFFOF) in a deal worth up to 200 billion yen. Teijin Ltd, the parent company of Infocom, is looking to sell its 55% stake, with a second round of bidding scheduled for May.

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93824929/novavax-surges-57-post-1-4-billion-sanofi-deal

Final Cut Pro transforms video creation with Live Multicam on iPad and new AI features on Mac
May 07 2024 - 10:37AM
Business Wire

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93792996/final-cut-pro-transforms-video-creation-with-live

Apple unveils the redesigned 11-inch and all-new 13-inch iPad Air, supercharged by the M2 chip
May 07 2024 - 10:37AM
Business Wire

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93792986/apple-unveils-the-redesigned-11-inch-and-all-new-1

Apple unveils stunning new iPad Pro with the world’s most advanced display, M4 chip, and Apple Pencil Pro
May 07 2024 - 10:37AM
Business Wire

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93792984/apple-unveils-stunning-new-ipad-pro-with-the-world

Apple introduces M4 chip
May 07 2024 - 10:37AM
Business Wire

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93792995/apple-introduces-m4-chip

Warren Buffett’s Berkshire Hathaway sells 13% of its Apple shares
Avatar for Chance Miller
Chance Miller
| May 4 2024 - 12:23 pm PT
5 Comments

Warren Buffett’s Berkshire Hathaway offloaded around 13% of its Apple holdings in Q1 2024, the conglomerate revealed this weekend. Despite selling around 115 million shares, however, Buffett reaffirmed his commitment to AAPL going forward.

Meanwhile, Tim Cook, who made the trip to Omaha for Berkshire’s annual meeting on Saturday, praised Buffett for his belief in Apple.

Warren Buffett offloads 115 million AAPL shares

As reported by CNBC, Berkshire’s Q1 2024 earnings report revealed that its stake in Apple is now worth $135.4 billion – indicating that it holds around 790 million shares. Based on Apple’s stock price, this would mean Berkshire sold about 115 million shares, CNBC says.

Still, Apple is Berkshire’s largest holding by a wide margin. Likewise, Berkshire is Apple’s largest shareholder outside of ETF providers.

During Berkshire Hathaway’s annual meeting on Saturday, Buffett praised Apple and said it’s an “an even better business” than two of the conglomerate’s other major holdings, American Express and Coca-Cola. Buffett also assured investors: “Unless something dramatic happens that really changes capital allocation, we will have Apple as our largest investment.”

Buffett didn’t offer specific details on why Berkshire sold 13% of its Apple holdings in the quarter. He did, however, imply that it was to increase its cash stake for tax purposes:

“It doesn’t bother me in the least to write that check and I would really hope with all that America’s done for all of you, it shouldn’t bother you that we do it and if I’m doing it at 21% this year and we’re doing it a little higher percentage later on, I don’t think you’ll actually mind the fact that we sold a little Apple this year.”

Apple CEO Tim Cook was in the audience of Berkshire’s annual meeting in Omaha, Nebraska on Saturday. With regard to Berkshire’s decision to offload some of its Apple holdings, Cook told CNBC that “it’s a privilege to have them as a shareholder.”

When Berkshire sold 10 million shares of AAPL in 2020, Buffett later admitted that the decision “was probably a mistake.” In Q4 2023, Berkshire offloaded around 1% of its AAPL holdings (10 million shares), so this marks the second consecutive quarter that the conglomerate reduced its stake in Apple.

https://9to5mac.com/2024/05/04/warren-buffett-berkshire-hathaway-aapl/

Morgan Stanley ups Apple price target to $216
Friday, May 3, 2024 2:00 pm
No Comments

Following Apple’s Q2 2024 earnings report, Morgan Stanley has increased its price target to $216 from $210.

William Gallagher for AppleInsider:

“Apple guided to an above-Street June Q, alleviated concerns about China iPhone [sales], reached an all-time Services rev & GM record, authorized its largest incremental buyback in history, & hinted at Gen AI announcements to come in weeks,” said the company in a note to investors seen by AppleInsider. “It’s hard not to be more bullish after that.”

Morgan Stanley dismissed the falling iPhone sales figures, saying that the decline was much less than expected. It also noted that year over year, the iPhone actually grew in mainland China.

MacDailyNews Take: Apple’s Services growth is finally starting to assuage the iPhone-fixated.

https://macdailynews.com/2024/05/03/morgan-stanley-ups-apple-price-target-to-216/

Bitcoin Surges Post Jobs Report, Coinbase Reveals $1.2 Billion 1Q Net Profit, and More Crypto News
May 03 2024 - 3:26PM
IH Market News

Coinbase registers robust profit in first quarter and analyzes Bitcoin pullback in global market context
In the first quarter, Coinbase Global (NASDAQ:COIN) performed exceptionally well, benefiting from favorable market conditions and diversification of its business. The cryptocurrency trading company reported a net profit of $1.2 billion and earnings per share of $4.40, including a $650 million mark-to-market gain on cryptographic assets. Analysts such as Canaccord Genuity and KBW adjusted their price forecasts to reflect the growing international opportunity and the introduction of new products such as the Coinbase Prime wallet and the Layer 2 blockchain, Base.

In a recent report, Coinbase highlighted that the decline in Bitcoin price (COIN:BTCUSD) in April, which saw the cryptocurrency depreciate by 16%, reflects a broader trend not limited to the cryptocurrency sector. According to the analysis, this movement mirrors declines also observed in stocks and gold amid a strengthening dollar. Analysts David Han and David Duong emphasize that Bitcoin’s maximum drawdown of 23% since the peak is below historical declines, suggesting a reduction in price fluctuations and a sign of greater stability and legitimization of Bitcoin as a global macroeconomic asset.

Bitcoin rises in response to jobs data
Bitcoin (COIN:BTCUSD) experiences a 4.5% increase on May 3, driven by US employment data. BTC/USD is trading at $61,751 at the time of writing. Specifically, non-farm payrolls numbers for April fell below expectations, indicating weakness in the job market. This revelation suggests a possible interest rate cut, as hinted by Federal Reserve Chairman Jerome Powell during a press conference. Powell indicated a cautious stance on interest rates amid labor market weakness. This outlook was well received by investors, leading to an increase in Bitcoin price.

Furthermore, Fernando Pereira, an analyst at Bitget, in his technical analysis of BTC for May, highlighted that Bitcoin is currently testing significant support around $60,000. “BTC is testing very strong support at $60,000, which should hold the price for a while, but when we look at the long short ratio and see that 75% of the market has open long futures contracts, this is a very strong indicator that all these contracts must turn into liquidity for the price to break this support and go after lower targets, like $54,800 in the short term and $52,000 in the medium term,” commented Pereira.

Today is the expiration day for cryptocurrency options, with an expected settlement of $1.39 billion in Bitcoin options and $1 billion in Ethereum options. Approximately 23,367 Bitcoin contracts, worth $1.39 billion, are set to expire, with a maximum pain point at $61,000. Meanwhile, about 334,248 Ethereum contracts, with a notional value of approximately $1 billion, are also expiring today.

Market leaders and laggards of the week
In the past week, four cryptocurrencies stood out, with Polkadot (COIN:DOTUSD) and Cosmos (COIN:ATOMUSD), both multi-chain protocols, rising by 5.83% and 6.90%, respectively. In contrast, three assets, including NEAR (COIN:NEARUSD), Dogecoin (COIN:DOGEUSD), and Bitcoin Cash (COIN:BCHUSD), experienced declines of -5.73%, -7.57%, and -6.24% over the last 7 days, respectively.

Movement of funds in Bitcoin ETFs on the last day
On May 2, Bitcoin ETFs recorded a total outflow of $34.4 million, with the Grayscale ETF (AMEX:GBTC) being the only one to incur losses. This outflow contrasts with the previous day, when all ETFs experienced reductions. Specifically, the GBTC saw an outflow of $54.9 million, holding 291,248 Bitcoins. Notably, BlackRock (NASDAQ:IBIT), Fidelity (AMEX:FBTC), and Bitwise (AMEX:BITB) ETFs saw no inflows or outflows. However, the Ark ETF (AMEX:ARKB) witnessed a significant inflow of $13.3 million, the largest since April 23.

BNP Paribas invests in BlackRock’s Bitcoin ETF
BNP Paribas, one of Europe’s largest banks, has started purchasing shares of BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), marking its entry into the Bitcoin market through an ETF. According to its recent 13F form, the bank acquired 1,030 shares of IBIT, valued at $41,684, representing a small portion of its total investments, totaling $113.8 billion.

CleanSpark reports notable increase in Bitcoin mining after halving
CleanSpark (NASDAQ:CLSK), a prominent Bitcoin miner (COIN:BTCUSD), reported significant production in its first post-halving monthly update, achieving a hashrate of 17 EH/s and mining 721 BTC. With the deployment of advanced S21 machines and expansion of facilities, the company optimized efficiency and reduced costs. CEO Zach Bradford highlighted an increase in transaction fees that boosted production, also anticipating a possible correction in Bitcoin price due to the exit of less efficient miners.

Stronghold Digital Mining explores sale among other strategies to maximize shareholder value
Stronghold Digital Mining (NASDAQ:SDIG) announced that it is evaluating strategies such as selling the company or other strategic transactions to increase value for shareholders. After disclosing solid financial and operational results for the first quarter on May 2, the company, with support from Cohen and Company Capital Markets and advisory from Vinson & Elkins LLP, is exploring various options without a defined deadline for completion. In the first quarter of 2024, Stronghold Digital Mining reported revenue of $27.5 million, representing a 27% sequential increase and a 59% year-over-year increase. Of these, $26.7 million came from cryptographic operations. The company also recorded a GAAP net profit of $5.8 million and a non-GAAP adjusted EBITDA of $8.7 million.

Block initiates monthly Bitcoin purchase program to increase reserves
Payment company Block (NYSE:SQ), under the leadership of Jack Dorsey, has launched a program to allocate 10% of its monthly gross profit from bitcoin operations to the purchase of more bitcoins. The initiative began in April and is scheduled to continue until the end of 2024. With a bitcoin gross profit of bitcoin of $80 million in the first quarter, Block can add approximately $24 million in bitcoin to its balance annually. The company already holds a significant amount of bitcoin (COIN:BTCUSD), valued at around $4.7 billion.

Michael Saylor defends bitcoin as the best corporate hedge against inflation and predicts Ethereum’s classification as a security by the SEC
During the MicroStrategy World: Bitcoin for Corporations event, Michael Saylor, CEO of MicroStrategy (NASDAQ:MSTR), highlighted bitcoin’s superiority in strengthening corporate balance sheets in an inflationary environment. He argued that bitcoin (COIN:BTCUSD) is the only asset that outperforms the cost of capital, considering all other assets as dilutive. Saylor also discussed the inadequacy of investments such as gold, silver, and government bonds in keeping up with the cost of capital, highlighting the performance of the S&P 500 as a reflection of monetary expansion and inflation.

Additionally, Saylor predicts that the SEC will classify Ethereum (COIN:ETHUSD) and other major cryptocurrencies as securities, denying spot ETF requests from managers like BlackRock (NYSE:BLK). During his presentation at the conference, he expressed that unlike other cryptocurrencies such as BNB (COIN:BNBUSD), Solana (COIN:SOLUSD), Ripple (COIN:XRPUSD), and Cardano (COIN:ADAUSD), only Bitcoin has complete institutional acceptance, described by him as the only universally institutional-grade cryptographic asset.

Increase in venture capital investments in cryptocurrency startups in 1Q24
After three consecutive quarters of decline, the cryptocurrency and blockchain sector saw a notable increase in venture capital investment in early 2024. A report by Galaxy Research revealed that $2.49 billion was invested in 603 transactions in the first quarter, a 29% growth in funding volume and a 68% increase in the number of deals compared to the previous quarter. This improvement may indicate a recovery, but continuous increases in the coming quarters will be needed to confirm a sustained upward trend. Various factors, such as new innovations in blockchain technologies and macroeconomic conditions, influenced this dynamic. Nevertheless, total investment remains below levels seen at previous Bitcoin peaks.

Loss of $70.5 million in Bitcoin due to address poisoning scam
Cyvers Alert, a blockchain security company, reported the loss of 1,155 Wrapped Bitcoin (COIN:WBTCUSD), equivalent to $70.5 million, by a cryptocurrency trader due to an address poisoning attack. According to Meir Dolev, founder and CTO of Cyvers, this incident is one of the largest values ever lost in such a scheme. Address poisoning occurs when criminals create fake addresses similar to legitimate ones to deceive victims, leading them to transfer cryptocurrencies to fraudulent addresses.

Significant expansion of the Polkadot ecosystem in the Q1
According to a report by Messari, the Polkadot ecosystem (COIN:DOTUSD) saw a significant increase in its key metrics in the first quarter of the year. The market capitalization of the native DOT token rose from $8.4 billion at the end of 2023 to $12.7 billion, accompanied by a 270% jump in the price of DOT, reaching a peak of $11.3. The number of daily active addresses reached a record of 514,000, a 48% increase from the previous quarter. Moonbeam (COIN:GLMRUSD) remains the largest parachain, while Manta Network saw the largest growth in active addresses, driving Total Value Locked (TVL) to over $440 million. The network also experienced significant advances in the utilization of its Cross-Chain Message (XCM) format, demonstrating the ecosystem’s continued dynamism.

MoonPay adds PayPal support for cryptocurrency purchases in the US
MoonPay (COIN:GLMRUSD), a cryptocurrency payment platform, announced that it now allows users in the United States to buy and sell over 110 types of cryptocurrencies using PayPal (NASDAQ:PYPL). The integration, recently revealed, facilitates transactions for MoonPay users who are already familiar with PayPal for online purchases. This partnership also enhances transaction security, as PayPal does not share complete financial details during the process.

Paolo Ardoino proposes development of “Pear Phone” focusing on privacy
Paolo Ardoino, CEO of Tether and co-founder of Holepunch, revealed plans for a possible “Pear Phone.” This device, based on the Android Open Source Project (AOSP), would come equipped with Holepunch apps, such as Keet for encrypted messaging, along with other apps built on the Pear Runtime P2P protocol and the Bitkit Bitcoin wallet. Ardoino suggests that the phone will not have Google apps and will feature a peer-to-peer app store, aligning with Holepunch’s mission to promote P2P apps that ensure user privacy and reduce reliance on major tech companies.

ZTX introduces native token payment for beauty and regenerative treatments
The ZTX metaverse platform, in partnership with Frontier, a leading Japanese regenerative medicine company, announced that its native token ZTX (COIN:ZTXUST) will be accepted as a form of payment for cosmetics and treatments with stem cells and exosomes. Frontier offers exosome therapy in various clinics throughout Japan, covering everything from disease treatments to aesthetic procedures. The partnership allows patients to pay for treatments with ZTX tokens, including discounts for early payments.

EigenLayer increases token distribution after community feedback
The Ethereum reset protocol, EigenLayer, announced additional distribution of about 28 million of its EIGEN tokens to over 280,000 wallets. This decision follows criticisms of restrictions in the initial airdrop program. The Eigen Foundation stated that it will include in the distribution users who interacted with the protocol before April 29, also encompassing early participants. The distribution of EIGEN tokens, which are not yet on the market but are traded in futures contracts at $10 each, represents an estimated value of around $280 million. The official token delivery is scheduled to begin on May 10.

Former FTX co-CEO relinquishes Bahamas mansion
The ongoing fallout from the FTX collapse now involves a luxurious mansion in the Bahamas and a legal agreement. Ryan Salame, former co-CEO of FTX Digital Markets, a part of the now defunct exchange, has agreed to surrender his luxury residence on the island as part of a settlement in a criminal case. This agreement comes in a context where only he has suffered significant exits, contrasting with the company’s bankruptcy, which at its peak was valued at $32 billion. The scandal highlighted serious management failures and misuse of client funds, triggering a crisis of confidence in the cryptocurrency market.

Nigeria hosts roundtable for consensus on cryptocurrency regulation
The Nigerian Blockchain Industry Coordinating Committee (BICCoN) is organizing a meeting on May 6, involving the new director-general of the Nigerian Securities and Exchange Commission (SEC) and several cryptocurrency exchanges. BICCoN president Lucky Uwakwe announced that the virtual conference aims to align all stakeholders, from exchange operators to blockchain associations, to discuss and shape future cryptocurrency regulations in the country.

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93778173/bitcoin-surges-post-jobs-report-coinbase-reveals

First Quarter 2024 Earnings Call
May 2, 2024 5:30 PM ET
https://investor.coinbase.com/events-and-presentations/events/event-details/2024/First-Quarter-2024-Earnings-Call/default.aspx
Webcast
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Press Release
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Shareholder Letter
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Analyst Call Transcript
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Earnings Call Transcript
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10-Q

MacDailyNews presents live notes from Apple’s Q224 conference call
Thursday, May 2, 2024 4:47 pm
3 Comments

MacDailyNews presents live notes from Apple’s Q224 Conference Call with analysts starting at 2pm PT / 5pm ET today, May 2, 2024.

This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires an AirPlay 2–capable device, or via AirPlay to an Apple TV (2nd generation or later) with the latest Apple TV software or tvOS. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required).

Apple’s live conference call webcast will begin at 2pm PT / 5pm ET here.

Apple today posted quarterly revenue of $90.753 billion (vs. $94.836 billion YoY), down 4 percent year over year, and quarterly earnings per diluted share of $1.53 (vs. $1.53 YoY).

For the quarter, analysts’ consensus estimates (per LSEG) called for Apple to report EPS of $1.50 EPS on revenue of $$90.01 billion, both of which Apple beat.

Live notes:

• AAPL After hours: $184.25 +$11.22 (+6.48%) @ 5:57PM EDT

• Luca: 45.5% – 46.5% gross margins for June; memory and foreign exchange will be slight headwinds
• Q: Commodity pricing for June quarter

• Cook: I am hearing about so many use cases; similar to how the Mac is used – you use it for everything, so, too, with the Vision Pro. It’s an enormous number of different verticals; we’re off to a good start with Vision Pro in the enterprise
• Q: Top 2-3 Vision Pro uses cases?

• Luca: We you look aver the long arc of time, we’ve gone thru a long period of a very strong dollar; so that’s something to keep in mind when you look at results
• Cook: We price our product for the value we are delivering
• Cook: Innovation spurs the upgrade cycle; economic factors play in there; carrier promotions, etc.
• Q: Do you see ways to deploy capital more to spur demand Promotions? Price decreases?

• Luca: China is by far the largest emerging market, but when you look at all of the others, the numbers are getting large; the populations are large and growing and our products are makign a lot of progress in those markets. It is very good for us, So the gap vs. China is reducing
• Q: Emerging markets growth? Can they, added up, surpass China?

• Cook: We decreased during the quarter as normal and are very comfortable with the channel inventory
• Q: iPhone channel inventory

• Cook: I can’t address the data points; I can only address our results. We did accelerate last quarter and iPhone grew in mainland China; I can’t speak to numbers coming from outside Apple
• Q: What are we missing in China, at a high level?

• Cook: We are producing there. You need to produce in China to be competitive. We continue to expand channels and are optimistic in China
• Q: China supply chain?

• Luca: Growth rates improved during 2023, so the comps are difficult, but Apple expects Services to grow double digits in Q3 Services, similar to Q2
• Luca: Overall very strong. All-time records in both developed and emerging markets
• Q: Drivers of Services growth?

• Luca: we expect to grow low single digits in Q324
• Cook: If you make the YoY adjustment on iPhone, it would be flattish YoY, not down
• Cook: GenAI is an opportunity for many of Apple’s devices; I am extremely optimistic
• Q: June quarter iPhone business to be down again? Is AI (lack thereof so far) an issue?

• Cook: Long term in China, Apple sees a lot of customers moving into the middle class; continues to be optimistic
• Cook: Acceleration from Q1, driven by iPhone, especially in mainland China, but Apple has work to do in other product categories
• Q: Economy in China?

• Luca: One step at a time. We are working very hard to get there; free cash flow has been very strong for the last several years, so that’s one reason why Apple is increasing buybacks
• Q: $58 billion net cash currently; how to get to net cash neutral?

• Luca: In general, we continue to see a lot of interest at the top of the range of our products in each category
• Q: iPhone mix tilted towards Pro models?

• Cook: Enterprise is focused on selling iPhone, iPad, Mac, and Vision Pro units
• Q: AI for the enterprise

• Cook: I think AI and GenAI both are big opportunities across our products; I think there are numerous ways that are great for Apple and the company is well-positioned; we’ll talk more about AI soon
• Q: Is AI an opportunity to monetize your mobile real estate?

• Trip to China was fantastic; I maintain a great view of China long term
• Cook: iPhone in mainland China, we grew before normalization (before supply destruction we mentioned earlier)
• Cook: In Q2, for greater China, we were down 8% due to iPhone sales
• Q: China confidence?

• Luca: Generally favorable during the quarter
• Q: Rising costs for commodity and components?

• Cook: I don’t want to get in front of our announcements; we see GenAI as a big opportunity across our products
• Generative AI monetization?

• We haven’t seen anything different within the product categories
• Luca: Down sequentially primarily due to different mix YoY, leverage plays a big role
• Q: Product gross margins? Are customers mixing down within or across product lines?

• Cook: It’s really too early to answer the question
• Q: Effect of 3rd party app stores on iPhone and iPad in the EU?

• On the CapEx front, Apple has its own data center capacity and also with 3rd parties and plans to continue along the same lines going forward
• Luca: We are obviously very excited about GenAI
• Q: Artificial Intelligence to affect historical CapEX cadence?

• Services: We’ve seen very strong, brod-based performance across the board
• Luca: We expect total revenue to grow low single digitis YoY
• Q: Outlook for products?

• Expect 45.5% – 46.5% gross margin
• Expect iPad revenue to grow double digits
• Expect Services to grow double digits
• Color: June quarter total revenue to grow low single digitis YoY

• Apple continues to plan for annual dividend increases going forward
• Apple’s board of directors has declared a cash dividend of $0.25 per share of the Company’s common stock, an increase of 4 percent
• Board of directors has authorized an additional program to repurchase up to $110 billion of the Company’s common stock
• $105 billion total debt
• Apple $162 cash and marketable securities
• Apple particularly pleased with strong performance in emerging markets

• Maestri touts Mac and Vision Pro in the enterprise

• Apple has well over 1 billion paid subscriptions across Services
• Both transacting and paid accounts reached new all-time highs
• Services revenue: $23.867 billion

• Almost 2/3rd of Apple Watch customers were new to the product in the quarter
• Wearables, home and accessories revenue: $7.913 billion

• iPad U.S. customer sat = 96%
• iPad install base hit new all-time high
• iPad revenue: $5.559 billion

• Mac sales driven by M3 MacBook Air
• Mac revenue: $7.451 billion

• iPhone customer sat in U.S = 99%
• iPhone active installed base grew to an all-time high
• iPhone revenue: $45.963 billion
• OpEx $14.4 billion, up 5% YoY
• Installed base of active devices reached an all-time high
• iPhone had a challenging compare YoY
• Luca Maestri: Revenue: $90.753 billion

• AAPL After hours: $185.21 +$12.18 (+7.04%) @ 05:12PM EDT

• Cook talks “carbon removal” projects
• Cook touts emission reductions, recycling, solar and wind power
• Apple want to become “carbon neutral” by 2030
• Cook touts privacy and protections against quantum computing
• Retail: Shanghai store opening was very exciting
• Apple Sports app released during quarter
• Promos Apple TV+ productions which win major awards
• Services revenue: $23.867 billion; all-time revenue record
• Wearables, home and accessories revenue: $7.913 billion
• Cook talks up Apple Watch; mentions AI and ML again
• iPad revenue: $5.559 billion; down 17% YoY due to difficult compare
• Cook touts M3 MacBook Air; mentions AI again
• Mac revenue: $7.451 billion, up 4% YoY
• Cook visited Southeast Asia; excited for the future
• iPhone revenue: $45.963 billion
• iPhone faced a difficult compare YoY
• Apple believes it has AI advantage that will distinguish itself; mentions neural engines and privacy focus
• Apple bullish on generative AI
• Next month WWDC – exciting!
• Exciting event coming next week
• Cook talks up Vision Pro
• Services set all-time revenue record
• Cook: Set revenue records in Latin America and Middle East, Canada, India, Span, Turkey, Indonesia

• Conference call begins
• AAPL After hours: $185.51 +$12.48 (+7.21%) @ 04:56PM EDT
• AAPL After hours: $183.99 +$10.96 (+6.33%) @ 04:46PM EDT

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https://macdailynews.com/2024/05/02/macdailynews-presents-live-notes-from-apples-q224-conference-call/#google_vignette

Apple reports second quarter results
May 02 2024 - 4:30PM
Business Wire

Services revenue reaches new all-time record

EPS sets March quarter record

Apple® today announced financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $90.8 billion, down 4 percent year over year, and quarterly earnings per diluted share of $1.53.

“Today Apple is reporting revenue of $90.8 billion for the March quarter, including an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We’re also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month. As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.”

“Thanks to very high levels of customer satisfaction and loyalty, our active installed base of devices has reached a new all-time high across all products and all geographic segments, and our business performance drove a new EPS record for the March quarter,” said Luca Maestri, Apple’s CFO. “Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $110 billion for share repurchases. We are also raising our quarterly dividend for the twelfth year in a row.”

Apple’s board of directors has declared a cash dividend of $0.25 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 16, 2024 to shareholders of record as of the close of business on May 13, 2024. The board of directors has also authorized an additional program to repurchase up to $110 billion of the Company’s common stock.

Apple will provide live streaming of its Q2 2024 financial results conference call beginning at 2:00 p.m. PT on May 2, 2024 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company’s plans for return of capital, the payment of its quarterly dividend, and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.

© 2024 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)




Three Months Ended



Six Months Ended



March 30,
2024



April 1,
2023



March 30,
2024



April 1,
2023

Net sales:















Products

$

66,886



$

73,929



$

163,344



$

170,317



Services



23,867





20,907





46,984





41,673



Total net sales (1)



90,753





94,836





210,328





211,990



Cost of sales:















Products



42,424





46,795





100,864





107,560



Services



6,058





6,065





12,338





12,122



Total cost of sales



48,482





52,860





113,202





119,682



Gross margin



42,271





41,976





97,126





92,308



















Operating expenses:















Research and development



7,903





7,457





15,599





15,166



Selling, general and administrative



6,468





6,201





13,254





12,808



Total operating expenses



14,371





13,658





28,853





27,974



















Operating income



27,900





28,318





68,273





64,334



Other income/(expense), net



158





64





108





(329

)

Income before provision for income taxes



28,058





28,382





68,381





64,005



Provision for income taxes



4,422





4,222





10,829





9,847



Net income

$

23,636



$

24,160



$

57,552



$

54,158



















Earnings per share:















Basic

$

1.53



$

1.53



$

3.72



$

3.42



Diluted

$

1.53



$

1.52



$

3.71



$

3.41



Shares used in computing earnings per share:















Basic



15,405,856





15,787,154





15,457,810





15,839,939



Diluted



15,464,709





15,847,050





15,520,675





15,901,384



















(1) Net sales by reportable segment:















Americas

$

37,273



$

37,784



$

87,703



$

87,062



Europe



24,123





23,945





54,520





51,626



Greater China



16,372





17,812





37,191





41,717



Japan



6,262





7,176





14,029





13,931



Rest of Asia Pacific



6,723





8,119





16,885





17,654



Total net sales

$

90,753



$

94,836



$

210,328



$

211,990



















(1) Net sales by category:















iPhone

$

45,963



$

51,334



$

115,665



$

117,109



Mac



7,451





7,168





15,231





14,903



iPad



5,559





6,670





12,582





16,066



Wearables, Home and Accessories



7,913





8,757





19,866





22,239



Services



23,867





20,907





46,984





41,673



Total net sales

$

90,753



$

94,836



$

210,328



$

211,990




Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)




March 30,
2024



September 30,
2023

ASSETS:

Current assets:







Cash and cash equivalents

$

32,695





$

29,965



Marketable securities



34,455







31,590



Accounts receivable, net



21,837







29,508



Vendor non-trade receivables



19,313







31,477



Inventories



6,232







6,331



Other current assets



13,884







14,695



Total current assets



128,416







143,566











Non-current assets:







Marketable securities



95,187







100,544



Property, plant and equipment, net



43,546







43,715



Other non-current assets



70,262







64,758



Total non-current assets



208,995







209,017



Total assets

$

337,411





$

352,583











LIABILITIES AND SHAREHOLDERS’ EQUITY:

Current liabilities:







Accounts payable

$

45,753





$

62,611



Other current liabilities



57,298







58,829



Deferred revenue



8,012







8,061



Commercial paper



1,997







5,985



Term debt



10,762







9,822



Total current liabilities



123,822







145,308











Non-current liabilities:







Term debt



91,831







95,281



Other non-current liabilities



47,564







49,848



Total non-current liabilities



139,395







145,129



Total liabilities



263,217







290,437











Commitments and contingencies















Shareholders’ equity:







Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively



78,815







73,812



Retained earnings/(Accumulated deficit)



4,339







(214

)

Accumulated other comprehensive loss



(8,960

)





(11,452

)

Total shareholders’ equity



74,194







62,146



Total liabilities and shareholders’ equity

$

337,411





$

352,583




Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In millions)




Six Months Ended



March 30,
2024



April 1,
2023

Cash, cash equivalents and restricted cash, beginning balances

$

30,737





$

24,977











Operating activities:







Net income



57,552







54,158



Adjustments to reconcile net income to cash generated by operating activities:







Depreciation and amortization



5,684







5,814



Share-based compensation expense



5,961







5,591



Other



(1,971

)





(1,732

)

Changes in operating assets and liabilities:







Accounts receivable, net



7,727







9,596



Vendor non-trade receivables



12,164







14,785



Inventories



53







(2,548

)

Other current and non-current assets



(4,438

)





(4,092

)

Accounts payable



(16,710

)





(20,764

)

Other current and non-current liabilities



(3,437

)





1,757



Cash generated by operating activities



62,585







62,565











Investing activities:







Purchases of marketable securities



(25,042

)





(11,197

)

Proceeds from maturities of marketable securities



27,462







17,124



Proceeds from sales of marketable securities



4,314







1,897



Payments for acquisition of property, plant and equipment



(4,388

)





(6,703

)

Other



(729

)





(247

)

Cash generated by investing activities



1,617







874











Financing activities:







Payments for taxes related to net share settlement of equity awards



(2,875

)





(2,734

)

Payments for dividends and dividend equivalents



(7,535

)





(7,418

)

Repurchases of common stock



(43,344

)





(39,069

)

Repayments of term debt



(3,150

)





(3,651

)

Repayments of commercial paper, net



(3,982

)





(7,960

)

Other



(132

)





(455

)

Cash used in financing activities



(61,018

)





(61,287

)









Increase in cash, cash equivalents and restricted cash



3,184







2,152



Cash, cash equivalents and restricted cash, ending balances

$

33,921





$

27,129











Supplemental cash flow disclosure:







Cash paid for income taxes, net

$

14,531





$

4,894







View source version on businesswire.com: https://www.businesswire.com/news/home/20240502965412/en/

Press Contact:
Josh Rosenstock
Apple
jrosenstock@apple.com
(408) 862-1142

Investor Relations Contact:
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93770672/apple-reports-second-quarter-results

You are very welcome!

Bernstein upgrades Apple stock, reiterates $195 target price
Monday, April 29, 2024 11:32 am
1 Comment

Bernstein analyst Toni Sacconaghi on Monday raised his rating on Apple stock to “Outperform” from “Market Perform” and reiterated his target price of $195.

Adam Clark for Barron’s:

“The stock has derated significantly amid weak revenue growth, and investors worry that Apple’s China business is structurally impaired. We believe that Apple’s business prospects are largely unchanged…and believe the pullback provides an attractive entry point,” Sacconaghi wrote in a research note.

China has been the main culprit for weaker iPhone sales and the Bernstein analyst argues that is likely to be a cyclical issue rather than a structural problem… “In strong iPhone cycles, Apple’s China revenue typically grows much faster than Apple overall, as Chinese consumers embrace the new phone,” Sacconaghi wrote. “The strong embrace is typically followed by several quarters of weaker (and often negative year-over-year growth), as we are seeing now.”

That could be changed by the introduction of AI to the coming iPhone 16. That could help drive 10% growth in iPhone units shipped in fiscal 2025, and 10% growth in annual revenue for Apple overall, according to the Bernstein analyst.

MacDailyNews Take: Hopefully, Apple’s marketing department can work its magic on Apple’s AI features this year to make them look as compelling, groundbreaking, and stunning as possible.

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https://macdailynews.com/2024/04/29/bernstein-upgrades-apple-stock-reiterates-195-target-price/

Verizon ups price for Apple Watch cellular plans
Friday, April 26, 2024 2:58 pm
1 Comment

In an email to customers on Thursday, Verizon announced a $5 per month price increase affecting plans tied to Apple Watch and other connected smartwatches.

Chance Miller for 9to5Mac:

With this price change, Verizon’s smartwatch plan will increase from $10 to $15 per month on most plans. Verizon notes that if your Apple Watch plan currently includes a discount, such as the 50% promotion for customers on Unlimited Plus and Ultimate plans, the price increase will reflect that discount.

In the email being sent today, Verizon says that the price increase will let it “continue improving” its service. The changes will go into effect as of June 3:

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

MacDailyNews Take: Ugh.

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Verizon offers free iPhone 6 in return for 2-year contract, used iPhone 4, 4s, 5, 5c or 5s in working condition
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https://macdailynews.com/2024/04/26/verizon-ups-price-for-apple-watch-cellular-plans/

Coinbase article on Investors business daily
HARRISON MILLER 08:00 AM ET 04/26/2024

It's been a historic year for bitcoin, and Coinbase Global (COIN) has been a key player in it. As a result, Coinbase stock has leapt nearly 25% thus far this year.

Cryptocurrency prices and related stocks are running hot after the launch of spot bitcoin exchange traded funds in January. That sparked renewed interest in digital assets and propelled bitcoin to a record high in mid-March.

Some of that rally appears to have cooled in the wake of bitcoin's recent halving event, which cut the amount of rewards doled out to cryptocurrency miners by 50%. Still, analysts are bullish on the near-term prospects for Coinbase, with first-quarter results due next week.

How The Halving Event Affected Bitcoin

Bitcoin is trading around $63,000, about 14% below its all-time high of $73,798 from March 14. But it's still up 50% in 2024. Its price is essentially flat after bitcoin's fourth halving event, held April 19,

The halving events occur after every 210,000 bitcoins are mined. The idea is to help control the rate at which new bitcoins are created, which takes roughly four years. The total supply is capped at a maximum of 21 million bitcoins.

During the last three halvings, bitcoin averaged a 3,108% price increase in the 12 months following the event, Cathie Wood's ARK Invest (ARKK) noted in a recent email to investors.

After the April 19 event, bitcoin's supply growth fell to an annual rate of about 0.9% from 1.8%. That's below the supply growth of gold on a long-term basis, which was estimated at a 1.7% clip in 2023, according to ARK Invest.

A Divergence Of Opinion

However, analysts are conflicted about the impact this halving will have on bitcoin's price. Some predict the supply shock will propel bitcoin higher. Others believe the market has already priced in this year's halving.

And where bitcoin goes, other cryptos tend to follow. Bitcoin's market cap of $1.26 trillion represents half of the total global cryptocurrency market cap. Its performance can heavily influence other cryptocurrencies and related stocks.

Bitcoin is vital to exchanges like Coinbase as it represented 34% of its total trading volume in fiscal 2023 and 35% of transaction revenue.

Goldman Sachs recently cautioned that current macroeconomic conditions and the high-interest-rate environment are different from previous halving cycles, one report said.

Bitcoin's price in the midterm will depend on supply-demand dynamics and continued demand for spot bitcoin ETFs, Goldman said.

Coinbase Stock: Its Role As Custodian

Coinbase has a central role to play as custodian for the majority of the spot bitcoin ETFs.

Custodial banks in traditional finance settle trades and manage regulatory reporting, dividends and other shareholder services. Custodians keep and manage client assets, such as stocks, which is why stock traders rarely see any of the actual shares they purchase.

Cryptocurrency custodians fulfill a similar role. But there are some key differences that make the process more complex, such as technological, security and storage requirements specific to bitcoin and other digital assets.

Custodians typically charge a fee for assets under custody, or AUC, similar to the traditional finance world. The AUC charges are usually some basis-point charges on the assets that they're contracted to custody.

Who Coinbase Serves

Coinbase is serving as the custodian for eight of the new bitcoin exchange traded fund entrants, including the BlackRock iShares Bitcoin Trust (IBIT), the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB).

It also is custodian for the Valkyrie Bitcoin Fund (BRRR) as well as the Grayscale Bitcoin ETF (GBTC), which converted its bitcoin trust to a spot bitcoin ETF. Also, the VanEck Bitcoin Trust ETF (HODL) named Coinbase as its backup custodian in its prospectus.

"We've always said that ETFs would be a win-win for Coinbase, and we're starting to see that play out on our platform," Coinbase Chief Executive Brian Armstrong said on the company's fourth-quarter earnings call in February. He noted that Coinbase custody accounted for 90% of the $36 billion in bitcoin ETF assets at the time.

"We're earning revenue, not just on custody but also on trading and financing. We've already seen great demand as bitcoin is now the second-largest ETF commodity in the U.S., surpassing silver," Armstrong went on to say.

Meanwhile, spot bitcoin ETF assets under management have ballooned to around $53 billion as of April 24, according to data from The Block.

Coinbase recorded $19.7 million in custodial fee revenue for its fourth-quarter ending in December, prior to the ETF launches. FactSet analysts predict the company's custodial fee revenue will increase to $31 million in the first quarter and grow to $52 million in the fourth quarter this year.

Coinbase Earnings Turn Positive

Even though bitcoin's recent drivers haven't shown up in results yet, Coinbase has steadily reported improving financials.

With its fourth-quarter results, Coinbase reported diluted earnings of $1.04 per share, turning positive for the first time since the fourth quarter of 2021. Losses had narrowed during the three quarters leading up to the Q4 report.

Total revenue spiked 51% to $953.8 million, marking the exchange's second consecutive increase after six straight quarters of double-digit declines.

Consumer transaction revenue leapt nearly 60% year over year to $492.5 million and improved from $274.5 million during the third quarter. Institutional transaction revenue increased 173% to $36.7 million, also climbing from $14.1 million last quarter.

Total subscription and services revenue climbed nearly 33% to $375.4 million.

Outlook For Coinbase Stock

Meanwhile, all signs are pointing to a strong first quarter for Coinbase.

Transaction revenue is already accelerating. Coinbase recorded $320 million in transaction revenue through Feb. 13, which is about halfway through the quarter, Chief Financial Officer Alesia Haas said during the February earnings call. The company generated a total of $374.7 million during the first quarter of 2023.

Coinbase predicted subscription and services revenue will range from $410 million to $480 million, compared with $361.7 million for the year-ago period.

Analysts polled by FactSet predict Coinbase will report earnings of $1.05 per share, swinging from a loss of 34 cents per share the year prior. They see revenue jumping 71% to $1.32 billion.

Price-Target Hikes For Coinbase Stock

A number of firms hiked their price targets on Coinbase stock this month, generally based on the booming crypto adoption and heightened activity after the spot bitcoin ETF approvals.

Oppenheimer predicts Coinbase's first-quarter trading volume could increase as much as 107% year over year to $300 billion, one report said. The brokerage is cautious about some near-term volatility but is bullish on long-term blockchain technology adoption, from which Coinbase should benefit.

Oppenheimer hoisted its price target on Coinbase stock to 276 from 200 and maintained an outperform rating on shares.

In its note to clients, Piper Sandler agreed that the new bitcoin ETFs seemed to help drive retail traders back into the market. That should fuel strong first-quarter results for U.S. crypto exchanges and brokers, a report said. Piper Sandler lifted its price target on Coinbase to 245 from 225 but kept a neutral rating on the stock.

Compass Point said in a note that it expects Coinbase to report revenue and adjusted earnings "considerably" above estimates, a report said. That's based on significant volume growth in March and during the first quarter. Compass Point raised its price target by $90 to 325 and maintained a buy rating on Coinbase stock.

Long-Term Challenges

Meanwhile, Mizuho expects Coinbase could top first-quarter revenue estimates by 40%, it was recently reported. Mizuho based that on an influx of retail investors and strong spot cryptocurrency volumes. The firm recently lifted its price target on Coinbase stock to 145 from 84. It maintained an underperform rating on the shares.

Long-term fundamental concerns remain, such as pressure on retail fee rates, Mizuho said. There's also a heavy reliance on lower-quality and cyclical revenue streams like altcoins, staking and interest income, the brokerage said.

Meanwhile, another report said Bernstein has hiked its Coinbase price target to 200 from 80. The brokerage kept a market perform rating on the stock.

"It is simply hard not to be bullish on Coinbase in the very near-term given the high beta to crypto asset prices, especially bitcoin," Bernstein wrote in a note. The firm warned that it believes Coinbase is a "net loser" in the medium term due to ETF approvals potentially pulling some business from Coinbase.

But Coinbase CEO Armstrong is more optimistic about the impact spot bitcoin ETFs have on crypto markets as a whole.

"We want fees to come down and make it lower friction for people to get into crypto through all kinds of different vehicles. ETFs are a massive way to get more capital to come in," Armstrong said during the company's February earnings call. "We're seeing elevated engagement and net inflows on both retail and institutional Q1 to date. So in my view, the ETFs are just a totally positive thing."

Coinbase Stock After The Halving

COIN stock has retreated about 23% from its March 25 peak of 283.48. That marked its highest level since December 2021.

Shares attempted a rebound above their 50-day line on Tuesday but that failed to develop. Coinbase climbed about 3% during the week after falling 14% last week prior to the halving.

COIN stock has a 97 Composite Rating out of a best-possible 99. The Composite Rating combines various technical indicators into one score.

The stock's relative strength line has fallen from its late-March highs but Coinbase is still outperforming the broader market with a perfect 99 Relative Strength Rating.

https://www.investors.com/research/the-new-america/coinbase-coin-stock-spot-bitcoin-etfs-crypto-interest/?src=A00220

Apple’s forthcoming on-device model is the future of AI
Friday, April 26, 2024 1:10 pm
1 Comment

Apple has revealed some of its plans for the on-device AI that will run on future iPhones, iPads, and other devices and it looks like the future of AI.

Charlie Sorrel for Lifewire:

We’re used to AI that runs on massive server farms, sucking in ten times the electricity of regular cloud servers, and of course, enjoying all the usual privacy risks associated with cloud computing…

“AI models on devices are typically smaller than those in the cloud. Their reduced size requires fewer calculations, faster responses, and less energy consumed in response to user queries. Moreover, queries and their responses do not leave the device, enhancing user privacy. And AI models on devices avoid data movement and communication with cloud and data center servers, which should improve performance and reduce energy use. Taken together, AI on devices could transform user experiences with consumer electronics,” Professor Benjamin Lee, computer scientist at the University of Pennsylvania, told Lifewire via email.

The crucial part here is that training the model takes an insane amount of computing power, but once that model is made, it can be used on regular computers. And if you shrink the model, it might not be as capable, but it can run on smaller computers, and require less power.

This brings us back to Apple’s models, called OpenELM, which are designed to run on iPhones. The entirety of a model can contain trillions of parameters, but Apple provides several smaller options, with 270 million, 45 million, 1.1 billion, and 3 billion parameters. The more parameters, the better the model is at doing the AI thing.

So why is this important? Because it lets Apple run AI on devices that have relatively limited computing power and very limited batteries. By optimizing for specific purposes, models can be much smaller and more efficient. And Apple can design its models to run on the AI hardware it has had in Macs and iPhones for years—the Neural Engine.

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
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MacDailyNews Take: The New York Times last October reported that A.I. could soon need as much electricity as an entire country, so, barring fusion power plants, Apple’s forthcoming on-device model is clearly the future of AI.

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https://macdailynews.com/2024/04/26/apples-forthcoming-on-device-model-is-the-future-of-ai/

“JANCTION” THE LAYER 2 FOR DECENTRALIZED AI

JANCTION Follow 8 min read
·10 hours ago

includes: Jasmy & JANCTION

Brief Introduction of Jasmy

>Japanese No.1 project founded by the president of Sony corporation.
>IoT & DID Platformer using a consortium chain for secure transactions and KYC.
>A peak FDV is about $150B, Market CAP is $1B, listed on Binance and Coinbase.
>Products (Commercial base) : Decentralized Database (Personal Data Locker) (https://www.jasmy.co.jp/pdl/overview/) & Blockchain PC (https://www.jasmy.co.jp/jasmy_secure_pc/)
>Utility : Remote call center (Transcosmos, biggest one in Japan), Carbon credit exchange (Government & University) and Ride Share (Toyota group Maas company).
>Community:It has a strong community in the US, UK, Europe, Turkey, APAC (Singapore, Hong Kong, etc.), Japan, and the rest of the world. It is characterized by a very active as well as large number of people, thanks to the use of the ambassador system and the active implementation of the AMA.

How could Jasmy be so successful?

It has 3 key strengths: high development capacity suited to corporate demand, patents backed by regulations, and a community built from the ground up.

All of Jasmy’s achievements are applied to JANCTION.As the Jasmy ecosystem expands, the depth and number of JANCTION data services will increase.

SDKs and APIs are already operational to allow seamless entry of Web2 companies into Web3 through Jasmy.

By deploying accurate data input through blockchain PCs, utilizing data through distributed databases, and exchanging value for data provision through Wallets, we will keep to build the necessary environment.

Future outlook

Jasmy has already partnered with many Web2 companies, jointly developed products, and implemented application operations on a commercial level. Our patented technology and innovative initiatives have led to a number of partnerships with unparalleled large companies, and potential business expansion is constantly taking place behind the scenes.

While making the most of this background, over the past year that JANCTION has existed, we have attracted a number of high-profile companies in our industry and global marketplace.

Our major milestone is to connect with the GPU resources of idle gaming terminals, but before doing so, we have been able to collaborate with data centers with excess resources and eSports facilities with a large number of gaming PCs.Additionally, we are working to secure the supply of large data center resources.

And, we are already developing partnerships with companies, including the provision of databases for development projects of generative AI products, highly value-added gaming platforms, and the construction of databases for fan communities.

https://medium.com/[@ userid=2]-for-decentralized-ai-7fdba2555b66

https://www.reddit.com/r/JasmyToken/

How crypto helps Americans keep their share of the pie

Tldr: Frustration over fees and delays are the top reasons why nearly 9 in 10 Americans want an updated financial system. People and businesses lose tens of billions of dollars in transaction fees and countless hours in delays to the current system that they wouldn’t with crypto. Just in time for the NBA Finals, a new Coinbase ad campaign uses pizza to explain how crypto is helping to update the system so it’s cheaper and faster.

By Coinbase Company, April 24, 2024, 3 min read time

https://www.coinbase.com/blog/how-crypto-helps-americans-keep-their-share-of-the-pie?__cf_chl_rt_tk=BgrCBxaQ92nBwh1jsvLRxXtvf4a5tCqO23o7MoTUgi8-1714070797-0.0.1.1-1727

Jim Cramer is bullish on Apple’s Vision Pro; sees potential enterprise boon
Thursday, April 25, 2024 12:02 pm
No Comments

CNBC’s Jim Cramer on Wednesday told investors he’s confident in the success of the Apple Vision Pro and sees uses for the spatial computer outside the consumer space. He suggested the Vision Pro could be an enterprise boon.

Julie Coleman for CNBC:

He said there are real signs of weakness — or “brown shoots” — in the economy, pointing to poor earnings from some transportation companies. But Cramer argued that recent reported weakness about the prosperity of the Vision Pro does not hold weight.

“Talk about a faux brown shoot, that’s outrageous. What a straw man,” Cramer said. “If Apple can sell 400,000 units of a $3,500 product that’s just now having software written for it, then I think they’re doing great.”

Cramer also suggested that Apple could pivot and market the Vision Pro as an enterprise product.

“The construction of factories is the largest business in the world,” he said. “If you could cut waste and test out potential changes on the Vision Pro before you put them in reality — and that’s what’s known as a digital twin — then I say that $3,500 price tag is way too cheap.”

MacDailyNews Note: Here’s the video:

https://macdailynews.com/2024/04/25/jim-cramer-is-bullish-on-apples-vision-pro-sees-potential-enterprise-boon/

Coinbase Announces Date of First Quarter 2024 Financial Results
April 18 2024 - 4:05PM
Business Wire

Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its first quarter 2024 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Thursday, May 2, 2024, after market close. The Company will hold a question and answer session to discuss its financial results at 2:30 p.m. PT that same day.

Starting on April 25 at 9:00 a.m. PT, all shareholders will be able to submit and upvote questions for Coinbase management by visiting here. This Q&A platform will remain open until 24 hours before the earnings call. Shareholders can email support@saytechnologies.com for any support inquiries.

To register for the webcast, please use this link. A live webcast of the call will be available on the Investor Relations website at investor.coinbase.com. Following the call, a replay of the call, as well as a transcript, will be available on the same website.

Disclosure Information

Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our X feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s X feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.



View source version on businesswire.com: https://www.businesswire.com/news/home/20240418898747/en/

Press:
press@coinbase.com

Investor Relations:
investor@coinbase.com

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93682346/coinbase-announces-date-of-first-quarter-2024-fina

Apple to invest over $250 million to grow its Singapore campus
Thursday, April 18, 2024 9:40 am
2 Comments

Apple on Wednesday announced new expansion in Singapore, with plans to invest over $250 million to grow its campus in Ang Mo Kio. The new expansion is the latest milestone in Apple’s over four decades of work fostering job creation and deep connections with the local community, and will provide space for growth and new roles in AI and other key functions.

Apple opened its first facility in Singapore in 1981 with 72 employees focused on Apple II, and has since grown to include a team of more than 3,600 that contributes to every part of the company. Today, Singapore serves as a central operations centre for Apple in the region, and is a hub for critical roles in software, hardware, services, and support. The country is also home to three vibrant Apple Store locations.

“Singapore is truly a one-of-a-kind place, and we are proud of the connection we’ve built with this dynamic community of creators, learners, and dreamers,” said Tim Cook, Apple’s CEO, in a statement. “With our growing campus, Apple is writing a new chapter in our history here. Our Singapore teams have played an important role in enriching the lives of our customers — and we can’t wait for many more decades of innovation to come.”

Across Singapore, Apple supports more than 60,000 jobs through direct employment, its supply chain, and the iOS app economy. The company also works with educational institutions, businesses, and organizations using technology and innovation to build a brighter world.

Like all Apple facilities, the expanded campus will run on 100 percent renewable energy. Once complete, the office aims to attain LEED Gold certification. Apple has been carbon neutral for its corporate operations since 2020 and has run all of its facilities using 100 percent renewable energy since 2018.

With a commitment to securing a greener future for all, Apple first contracted for clean energy solutions in Singapore in 2015 with solar panels on 800 rooftops, which helped Apple become the first company in the country to be powered by 100 percent renewable energy.

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

MacDailyNews Note: According to Apple, construction is slated to begin later this year to expand Apple’s campus in the Ang Mo Kio district. Two buildings acquired in 2022, located adjacent to the company’s existing offices, will undergo a major upgrade, bringing three unique spaces together to improve collaboration for Apple’s growing teams in Singapore. The addition follows Apple’s investment in upgrading facilities and state-of-the-art labs over the last 10 years, including growing space in its hardware technologies center by 50% since 2019.

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https://macdailynews.com/2024/04/18/apple-to-invest-over-250-million-to-grow-its-singapore-campus/

Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News
April 18 2024 - 7:11AM
IH Market News

Apple (NASDAQ:AAPL) – Apple plans to invest over $250 million to expand its operations in Ang Mo Kio, Singapore, with two buildings acquired in 2022 undergoing a major upgrade. CEO Tim Cook emphasized the importance of connecting with the local community.

Oracle (NYSE:ORCL) – Oracle announced on Wednesday an investment of more than $8 billion over the next 10 years to meet the growing demand for cloud computing and AI infrastructure in Japan. This investment aims to expand Oracle Cloud Infrastructure (OCI) presence across the country and support local engineering teams.

Microsoft (NASDAQ:MSFT) – EU antitrust regulators have concluded that Microsoft’s $13 billion investment in OpenAI does not constitute an acquisition, avoiding a formal investigation. Microsoft still faces scrutiny in other regions, seeking partnerships to avoid investigations.

Alphabet (NASDAQ:GOOGL) – Google is reducing its workforce, without specifying the exact number, as part of its cost containment strategy. Some affected employees may apply for new internal positions.

Meta Platforms (NASDAQ:META) – The European Data Protection Board has suggested that major online platforms, including Meta Platforms, offer users a free option without targeted advertising. This follows requests for analysis of consent or payment models by national privacy regulators.

Walt Disney (NYSE:DIS) – Employees at Walt Disney’s theme parks in California, including those dressed as Goofy and Elsa, have made progress in unionization. Most of the 1,700 workers at the Disneyland Resort seek to join the Actors’ Equity Association, seeking better conditions, including costume replacements and contractual negotiations.

Amazon (NASDAQ:AMZN) – Amazon announced on Wednesday plans to expand its cashier-less shopping technology to more third-party stores this year, reducing its reliance on its own technology. The “Just Walk Out” system is already used by about 140 stores and will more than double.

MercadoLibre (NASDAQ:MELI) – The Latin American e-commerce giant plans to expand its team by 30% in 2024, adding approximately 18,000 new employees. This increase will bring the total number of employees to about 76,000, excluding temporary and outsourced workers.

Morgan Stanley (NYSE:MS) – Morgan Stanley recommends buying eBay (NASDAQ:EBAY) and short selling Etsy (NASDAQ:ETSY) in the US e-commerce market. eBay was upgraded to overweight, with a target price of $62, while Etsy was downgraded to underweight, with a target price of $55. Analysts see eBay benefiting from innovation and artificial intelligence, while they are pessimistic about Etsy’s growth trajectory.

Tapestry (NYSE:TPR), Capri (NYSE:CPRI) – The US FTC is preparing to block Tapestry, owner of Coach, from acquiring Capri, which owns Michael Kors, in a deal worth $8.5 billion. Regulatory approvals were granted by the EU and Japan. The FTC will discuss the case, while investors assess possible cuts in fees.

Micron Technology (NASDAQ:MU) – Micron Technology, a memory chip manufacturer, is expected to receive over $6 billion in grants from the US Department of Commerce to fund domestic chip factory projects. The award, which has yet to be finalized, could be announced as early as next week.

Salesforce (NYSE:CRM), Informatica (NYSE:INFA) – Gaurav Dhillon, co-founder of Informatica, criticizes the potential partnership with Salesforce, calling it a setback for CRM. He predicts difficulties for customers due to overlapping integration products and sees Salesforce losing momentum, only seeking to increase revenues. The merger, according to Dhillon, would be a validation for SnapLogic.

Zuora (NYSE:ZUO) – Zuora is considering options, including a potential sale. The software company for managing subscription-based billing is attracting interest from private equity and software companies.

Cadence Design Systems (NASDAQ:CDNS) – Cadence Design Systems presented on Wednesday the latest version of its custom chip-based supercomputer, designed to accelerate the creation of other chips and corresponding software. Companies like Nvidia (NASDAQ:NVDA) and Apple (NASDAQ:AAPL) use Cadence’s software to design complex chips, speeding up the design process.

Tesla (NASDAQ:TSLA) – Under the leadership of Elon Musk, Tesla seeks to reactivate its controversial $56 billion salary package. The company uses a legal loophole to submit the proposal to shareholders, challenging a previous court decision. Experts debate whether this will open more litigation or if shareholders will retroactively accept the payment. Additionally, Elon Musk provoked uncertainty among investors with cryptic posts following Reuters’ news about the abandonment of the “$25 million Model 2.” Musk’s silence generates unrest, while investors seek clear answers about Tesla’s future. In other news, Tesla dismissed 300 temporary workers in Germany as their contracts expired, part of its global workforce reduction strategy by 10%. The company claims most were transferred to new jobs. Tesla will also lay off 285 employees in Buffalo, New York.

Rivian (NASDAQ:RIVN) – Rivian announced on Wednesday a cut of approximately 1% of its workforce, marking its second round of layoffs this year amid a slowdown in demand for electric vehicles. The company is seeking to reduce costs to achieve a positive gross margin by the end of the year.

Ford Motor (NYSE:F) – Ford is recalling 456,565 compact SUVs and trucks in the US due to weak battery issues, reported by NHTSA on Wednesday. The recall covers Bronco Sport (2022-2024) models and Maverick (2022-2023) trucks. Dealers will recalibrate the control modules free of charge to correct the problem.

Boeing (NYSE:BA) – Two Senate hearings in the US explored Boeing’s safety culture and manufacturing quality after the 737 MAX 9 incident. Concerns arose about the company’s response to whistleblower reports and records related to aircraft issues. Regulators and employees testified about safety concerns. Additionally, the US Department of Transportation is being investigated by the Office of the Inspector General regarding the Federal Aviation Administration’s supervision of Boeing aircraft. Secretary of Transportation Pete Buttigieg highlighted the importance of the audit amid growing concerns.

Mobileye (NASDAQ:MBLY) – Mobileye secured orders to provide 46 million of its EyeQ6 Lite chips in the coming years as automakers seek to make cars safer and easier to drive. The system, sold worldwide, includes features such as reading traffic signs.

EVe Mobility Acquisition (NYSE:EVE) – Eve, a manufacturer of electric aircraft, signed a letter of intent with Japanese AirX to sell up to 50 eVTOLs. The deal includes a firm order for 10 units and an agreement for another 40. Financial terms were not disclosed. Embraer (NYSE:ERJ), the parent company of Eve, plans operations by 2026.

United Airlines (NASDAQ:UAL) – United Airlines will receive financial compensation from Boeing (NYSE:BA) due to the grounding of the 737 MAX 9 aircraft, causing a $200 million impact in the first quarter. Boeing will pay through credits for future purchases, following the incident which also affected other airlines, including Alaska Airlines (NYSE:ALK).

Alaska Airlines (NYSE:ALK) – A problem with Alaska Airlines’ weight and balance calculation system caused the suspension of all flights on Wednesday morning. The FAA lifted the ground stop after the issue was resolved in about an hour, with residual delays throughout the day.

Ryanair (NASDAQ:RYAAY) – Ryanair expects Boeing (NYSE:BA) to deliver 40 new jets by mid-July, announced CEO Michael O’Leary. The plan includes receiving 35 aircraft by the end of June and five more in the first weeks of July, keeping to the revised schedule.

Ibotta – Ibotta, backed by Walmart (NYSE:WMT), is set to raise $577.3 million in its IPO, valued at $2.67 billion. Ibotta will sell 6.6 million shares at $88 each, exceeding the initial price range.

TotalEnergies (NYSE:TTE) – Investors urge TotalEnergies to separate the roles of CEO and chairman to accelerate the transition to renewable energies. The proposal, supported by 19 international investors, seeks an open dialogue on climate issues. The company will decide on the resolution on April 25.

Unilever (NYSE:UL) – Unilever Plc is recalling, as a precaution, some Magnum almond ice cream sticks in the UK and Ireland due to the possibility of containing plastic and metal. The company identified the affected batches and no other country or product is involved.

America Movil (NYSE:AMX) – America Movil announced investments in 5G across all its markets, following its capital expenditure plan of $7.1 billion for this year, after cutting expenses in February. Despite a 55% drop in quarterly profit, results in key markets helped exceed expectations.

Trump Media & Technology Group (NASDAQ:DJT) – Trump Media & Technology Group saw a 1.5% increase before the market opened. On Wednesday, shares of the company owning the Truth Social platform rose 16%, marking its best single-day performance since March 26, following a nearly 30% drop in the previous two sessions.

PowerSchool Holdings (NYSE:PWSC) – PowerSchool shares experienced their biggest drop in eight months, after Spruce Point Capital Management LLC expressed skepticism, predicting a significant fall in share prices. The educational technology company closed Wednesday with a 9.8% loss, extending the year’s cumulative decline to nearly 25%.

Duolingo (NASDAQ:DUOL), Cable One (NYSE:CABO) – Duolingo’s share value increased 6.55% before the market opened, following the announcement of its inclusion in the S&P MidCap 400 on April 22. Duolingo, a language learning provider, will replace Cable One, which is being moved to the S&P SmallCap 600.

UBS Group AG (NYSE:UBS) – Following the acquisition of Credit Suisse, UBS plans another round of job cuts that will affect over a hundred positions in the global investment bank. The cuts are expected to occur in the coming weeks, mainly in wealth management and markets units.

Goldman Sachs (NYSE:GS) – South African investors are delaying major initiatives pending next month’s election, according to Goldman Sachs. The bank expects a recovery in foreign interest, driven by interest rate cuts and energy improvements.

https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/93679101/apple-to-invest-250-million-in-singapore-expansio

Coinbase Derivatives has successfully launched Bitcoin Cash and Litecoin futures contracts as it gears up to launch Dogecoin futures later this month
Tl;dr

* Coinbase Derivatives has become the first CFTC-regulated exchange to offer margined Bitcoin
Cash and Litecoin futures contracts, which launched earlier this month and are performing well.
* Bitcoin Cash and Litecoin contracts launched on April 1, with Dogecoin futures launching later this
month.
* These contracts will be available for trading via our broker and FCM partners.

By Boris Ilyevsky Company, April 11, 2024, 3 min read time

https://www.coinbase.com/blog/coinbase-derivatives-has-successfully-launched-bitcoin-cash-and-litecoin?__cf_chl_rt_tk=Log6RqCy17taMQrOKd3JsLODjxDh4IVyNVuVUxVEvVI-1713211066-0.0.1.1-1791