Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
David Tepper’s Appaloosa picks up 480,000 Apple shares
Tuesday, August 15, 2023 1:06 pm
David Tepper’s global hedge fund Appaloosa purchased 480,000 shares of Apple it revealed in a Securities and Exchange Commission filing late Monday.
Appaloosa’s assets under management were US$14 billion as of December 2022.
Wallace Witkowski for MarketWatch:
In the quarterly filing, Appaloosa reported a new 2.3 million-share position in Advanced Micro Devices Inc. and a 480,000-share position in Apple Inc. Tepper also increased his stake in Nvidia Corp. by 580% to just over 1 million shares and more than doubled his stake in Meta Platforms Inc. to 1.5 million shares.
Meanwhile, Appaloosa increased its stake in Amazon.com Inc. by 58% to 3.2 million shares and hiked its stake in Microsoft Corp. by more than 375% to 1.2 million shares, while dumping stakes in Salesforce Inc. and Tesla Inc.
MacDailyNews Take: A vote of confidence for Apple.
Related
Apple is the hedge fund king once again
Thursday, May 16, 2013
In "News"
Second billionaire investor dumps shares as Apple stock drops to near two-year low
Saturday, May 14, 2016
In "News"
Leon Cooperman buys stake in Apple
Monday, May 16, 2016
In "News"
https://macdailynews.com/2023/08/15/david-teppers-appaloosa-picks-up-480000-apple-shares/
Jasmy acquires a technology patent for creating information abstracted from personal information and providing it using blockchain
Jasmy Co., Ltd.
August 10, 2023 15:00
Jasmy Co., Ltd. (Headquarters: Minato-ku, Tokyo, Representative Director: Kazumasa Sato, hereinafter: Jasmy), which provides platforms and solutions for IoT, abstracts personal information and uses blockchain technology to provide and manage it to the other party. We are pleased to inform you that we obtained a technical patent on July 14, 2014 regarding a method of changing the display on the application based on the reliability of the information.
Patent number: [7313642]
Title of invention: [Terminal device, information processing system and program]
Registration date: July 14, 2023
Inventor: [Kazumasa Sato, Takashi Hagiwara, Manabu Sakamoto, Hiroshi Yasutomi, Toshikazu Minoshima]
¦ Development background
Jasmy's mission is to bring personal data back to the hands of the individual who should have it, and to realize "data democratization" in which it is managed in a secure and decentralized manner. In order to fulfill that mission, we have been working on building a platform that allows users to manage their own personal data provided to companies, national governments, local governments, etc.
By using the patented technology acquired this time, we will be able to realize our philosophy of "managing your own information by yourself".
¦ New technology details
In a system using this technology, if it is necessary to disclose the user's personal information (hereinafter referred to as "first personal identification information") to the other party (company, national government, local government, etc.), It is possible to create only information with low specificity (*) (hereinafter referred to as “secondary personal identification information”) and provide it to the other party using blockchain technology.
(*) Decreasing specificity means increasing abstraction and anonymity of information.
For example, if the user has registered the user's address as "1-2-3 Kita-Aoyama, Minato-ku, Tokyo" as the first personal identification information on his/her terminal, the user's address is "Tokyo", "Tokyo Minato-ku, Tokyo”, “Kita-Aoyama, Minato-ku, Tokyo”, or “1-chome Kita-Aoyama, Minato-ku, Tokyo” is indicated as second personal identification information.
By utilizing blockchain technology when providing second personal identification information to a third party, it is possible to prevent falsification of information and at the same time ensure traceability, enabling safe transmission and reception of information.
In addition to the above technologies, by dividing the display area within the application and changing the color and size of the characters according to the destination and reliability of information preset by the user, it is possible to prevent spoofing and fake news. Allows for an easy-to-understand display method. In addition, we have acquired a technology patent that realizes a mechanism that alerts the user according to the reliability level when entering information.
By using an application that utilizes this technology (hereinafter referred to as "this application"), users will be able to provide the following various services.
* You can collect second personal identification information with this application, investigate what kind of people are gathered in which area (divided by age
group, hobby, etc.), and share that information.
* When you use the App to make restaurant or accommodation reservations, you may provide only Second Personally Identifiable Information for secure service.
* By sharing second personal identification information within this application, such as sports teams and hobby communities, you will have more opportunities to
interact with fans and friends.
* By registering product information in this application, you can receive support services by providing only the second personal identification information required
when contacting the manufacturer.
¦ About Jasmy Corporation
Jasmy Corporation is a company that develops and provides IoT platforms. When all kinds of things are connected to the Internet, "clothing, food, housing, and movement", which are closely related to people's lives, will change greatly. Jasmy's mission is to create and provide a system (platform) that allows anyone to use things easily, safely, and with peace of mind. Today, important data generated from our daily lives tends to be occupied by a limited number of companies. One of the purposes of the Jasmy Platform is to restore data sovereignty to the original owner and to use individual data safely and securely. For that reason, Jasmy will combine IoT with blockchain technology and prepare a platform that can be widely used beyond the boundaries of industries and industries based on unprecedented ideas.
Jasmy's team consists of members with diverse and rich experience in electronics, mechanics, communications, devices, system integrators, designers, etc., and we will provide the best IoT platform for each customer around the world.
·Company names and product/service names mentioned are registered trademarks or trademarks of their respective companies.
https://prtimes.jp/main/html/rd/p/000000055.000025296.html
Thank you for sharing. I see that that website writes about whether or not to sell many crypto investments. I appreciated the dip in price, so I bought more JASMY! 😘
Apple to begin payments to iPhone users in $500 million ‘Batterygate’ iPhone throttling settlement
Monday, August 14, 2023 6:50 pm
Apple will soon begin paying $65 to owners of older iPhone models after a judge cleared way for payments in class-action lawsuit over iPhone throttling, otherwise know as “Batterygate.” The company agreed in 2020 to pay up to $500 million to settle lawsuit alleging it secretly slowed down phones to address issues with older batteries.
The iPhones models applicable in this case were iPhone 6, 6 Plus, 6s, 6s Plus, and SE devices running operating systems iOS 10.2.1 or later prior to December 21, 2017, and iPhone 7 and 7 Plus phones running iOS 11.2 or later prior to that same date.
Ethan Baron for The Mercury News:
This week, two iPhone owners who objected to the settlement lost their appeal in the 9th U.S. Circuit Court of Appeals over its terms, removing the final obstacle to the deal.
Under the agreement, Apple was to provide the claims administrator with names and contact information for everyone owning or leasing an eligible iPhone. The claims deadline was Oct. 6, 2020.
About 3 million claims were received, and the latest estimate puts compensation at about $65 per claim, said Tyson Redenbarger, a lawyer who represented iPhone customers in the case.
Apple, while denying wrongdoing, agreed to pay $310 million to $500 million. How much the company pays, and exactly how much each claimant receives, will depend on the number of claim approvals, and some are still under assessment, Redenbarger said.
MacDailyNews Take: There won’t be another iPhone Batterygate because Apple wants, and needs, previously-owned iPhones to known for reliability as the secondary market is key for Apple to grow their iPhone users base, which in turn feeds Apple’s Services business and provides a halo for other products such as iPads, Apple Watches, Macs, Apple TVs, HomePods, etc.
?
You can see why some think that Apple wanted to keep what they were doing a secret. If people knew that a $79 battery replacement would give them an iPhone that performed like it did on day one, a meaningful percentage would take that option versus buying a new iPhone. Now that it’s just $29 this year, that percentage will naturally increase.
?
Then again, as Hanlon’s razor states: “Never attribute to malice that which is adequately explained by stupidity.”
?
Apple’s made up of people. People are imperfect. We’ll take Apple’s word for it that they “always wanted… customers to be able to use their iPhones as long as possible” and that they “have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades.” — MacDailyNews, January 3, 2018
Again, it’s Apple’s lack of communication that is the problem here. If Apple had clearly explained what was going on in the software, we’d know to recommend a battery replacement when users complained their older iPhones were getting “slow.” As it was, we were pretty much left to assume that the processor/RAM wasn’t up to par with demands of newer iOS releases and we’d naturally recommend getting a new iPhone.
?
Just yesterday, we had a friend complain that his iPhone 6 was acting “slow” and we knew to recommend a battery replacement (even though he instead opted to get himself an iPhone X on our strong recommendation). — MacDailyNews, December 29, 2017
As has almost always been the case with Apple, unfortunately, transparency comes later, not sooner, and usually as a reaction to negative publicity. A simple Knowledge Base article would have preempted all of this Reddit sleuthing and the attendant handwringing and erroneous presumptions. — MacDailyNews, December 20, 2017
Related
Batterygate: Dozens of iPhone throttling lawsuits filed against Apple look set for consolidation
Tuesday, February 27, 2018
In "News"
China consumer group seeks answers from Apple over batterygate
Tuesday, January 16, 2018
In "News"
Apple now faces more than 60 class action lawsuits over iPhone batterygate
Monday, February 26, 2018
In "News"
https://macdailynews.com/2023/08/14/apple-to-begin-payments-to-iphone-users-in500-million-batterygate-iphone-throttling-settlement/
Thank You! FEATURE: Former Sony execs laying down data security gambit to tech giants
By Yuki Yamaguchi, KYODO NEWS - Aug 9, 2023 - 15:35 | All, Feature, Japan
TOKYO-When Kazumasa Sato was assigned to Sony Corp.'s information technology section as a fresh economics graduate in 1980, he was baffled.
Maintaining an information system using IBM mainframe computers was not precisely what he envisioned doing at one of the country's most famous tech companies known for innovative products such as the iconic Walkman cassette player and Trinitron TV.
But about 40 years later, Sato says that experience set the course for his career. His fascination with networks eventually led him to set up a data security venture utilizing blockchain technology with other former Sony innovators, including former president Kunitake Ando.
Jasmy Inc., established in 2016, aims to create a world where people can have control over their personal data at a time when big tech firms such as Google LLC and Apple Inc. have obtained an unfathomable amount of personal information from customers across the globe.
"There could be a network that is more secure and safe," Sato, the 66-year-old president of the venture, said in an interview. "We are from Sony so we love to take a shot at doing things that other people can't do."
The ambition resulted in a service called "Personal Data Locker," a platform where people can safely manage their data and decide how much they want to disclose to businesses or services they wish to use.
Unlike the conventional, centralized data management system in which personal data are stored in a particular server, the service employs the blockchain to store data in a decentralized way, without depending on dedicated physical servers.
That prevents falsification and loss of data as the blockchain, an encoded digital ledger stored across a network of computers, does not allow data to be modified or deleted by a single actor. It also helps users identify and trace unintended use of their data by a third party as it is inherently trackable on the ledger, the company said.
The service has already been adopted by Nippon Travel Agency Co., which uses it to manage customer information. Witz Corp., a Nagoya-based company that helps manage logistics at large events, also uses it to handle personal information such as with infections due to the coronavirus. Jasmy said it is looking to expand its customer base further.
The venture has also created its own cryptocurrency, JasmyCoin, with an eye to using it in the future as a reward to those who shared their information. The virtual currency, which was first listed in Japan in 2021 and now held by more than 50,000 people, has a market capitalization of about $200 million as of the end of July.
Ever since being initially shocked by the emerging concept of the internet in the early years of his career, Sato always had a passion for network-related businesses, he said.
"The internet was a concept that had been non-existent before," said Sato, who later helped launch internet service provider businesses at Sony and served as president of Sony's e-commerce unit. "It threw common sense out the window. It was extremely attractive."
He left Sony in 2010 to pursue other opportunities, but as he saw the need for a safe internet rise on the back of increasing misinformation, online abuse, and concerns over the use of personal data, he decided to launch a venture to help create a network everyone can use more safely.
Sato's idea attracted like-minded risk-takers from Sony.
Takashi Hagiwara, a long-time engineer in charge of the development of the Vaio PC, quit the tech giant in 2020 with less than one year left before reaching the company's retirement age to join Jasmy.
"There is a sort of joy that is similar to solving a puzzle when we try to bring our ideas into reality," said Hagiwara, who oversees software development at the venture. "That's what I felt at Sony and what I continue to feel here, too."
Hidehiko Kakinuma, who has a wealth of experience launching new businesses, including Sony Bank Inc., now serves as executive officer in charge of marketing at Jasmy.
"The emergence of blockchain (technology) is a really important factor," the 56-year-old executive said. "With that, we can create a system that gives back to users" when dealing with personal data.
With various options under consideration, Sato says his ultimate goal is to combine its technology with artificial intelligence.
While interest in generative AI such as ChatGPT is booming, he said there is always a risk that if one enters sensitive information, it can be absorbed into the system and lead to an unintended data leak.
The combination of Jasmy's data security technology and AI could create a kind of AI optimized for personal use without worrying about data security.
Such an AI could be installed into various devices such as cars and smart speakers, among other things, he added.
"If people feel threatened by exposing their personal data, they become reluctant to utilize data," he said. "But if we are able to manage our data on our own, it will surely make the world more fun and convenient."
Sato compared his company's service to making real-life decisions such as how much personal information you wish to disclose when meeting new people or if you offer your name card when greeting someone in a business setting.
"This is what everybody does in real life," Sato said. "You don't necessarily have to lie, but you don't really have to expose everything, either."
https://english.kyodonews.net/news/2023/08/c985203b1f62-feature-former-sony-execs-laying-down-data-security-gambit-to-tech-giants.html
Coinbase Accelerates International Expansion with Official Launch in Canada
August 14 2023 - 06:00AM
Business Wire
Integration of Interac e-Transfers makes cryptocurrencies easily accessible to millions of Canadian customers
Today, Coinbase announced its Canadian expansion with a series of new offerings that demonstrate its commitment to Canada as a priority Go Deep market.
Through its partnership with Peoples Trust Company, part of Peoples Group, Coinbase is now providing access to Interac e-Transfers® * to 100% of Canadian Coinbase users, making it secure and simpler than ever to move money in and out of your account. This will make cryptocurrencies more accessible to millions of Canadians.
Interac availability was the most requested feature by Canadian users, and today’s news demonstrates Coinbase’s plan to build a platform that is for Canadians, by Canadians. Depositing funds to Coinbase using Interac is free and almost instant. In the last month, over 50% of deposits have been made through Interac e-transfer.
Starting today, Canadian Coinbase users can also maximize the full potential of crypto with the best of Coinbase through membership with Coinbase One. Free for all users for 30 days, Canadians now have access to zero trading fees, boosted staking rewards, priority 24/7 support, and more.
“Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework,” said Nana Murugesan, Vice President, International and Business Development, Coinbase. “As Coinbase’s next Go Deep Market, we are making significant investments to help Canadians access the benefits of cryptocurrency.”
Coinbase sees Canada as its next Go Deep Market. Canada is the second-most crypto-aware country across Coinbase’s international markets, and an Ontario Securities Commission survey found that over 30 per cent of Canadians said they will buy cryptocurrency within the year, more than double those who say they currently own crypto assets. This presents a significant opportunity for growth in the Canadian market.
These announcements are the latest of several commitments Coinbase has made to grow in Canada.
* In March, Coinbase signed an enhanced Pre-Registration Undertaking (PRU), and continues working with regulators and policymakers on a strong digital
currency regulatory framework for Canadians.
* Hired Lucas Matheson as Coinbase’s Canadian Country Director. Lucas is passionate about the potential of cryptocurrencies to transform the financial
landscape and wants to help make cryptocurrencies more accessible in Canada.
* Built a tech hub with almost 200 full-time employees who are helping build Coinbase products. This makes Canada Coinbase's largest tech hub outside the
U.S. Coinbase is also one of Canada’s largest crypto employers.
* Coinbase Ventures has been active across Canada, investing in several Canadian start-ups to promote local innovation and entrepreneurship, and develop
technology that will advance the global crypto economy. Canadian portfolio companies include Dapper Labs, Minerva AI, Axelar, Horizon Blockchain Games,
and Zapper.
“At Coinbase, our mission is to update the financial system and bring greater economic freedom to the world,” said Lucas Matheson, Canada Country Director, Coinbase. “We’re thrilled to be leading this push and helping drive innovation in Canada’s financial system.”
Supporting Quote From Peoples Group
“Peoples Group is pleased to partner with industry leader Coinbase, to enable this money movement tool for their Canadian customers and expand payment possibilities,” said David Furlong, Chief Operating Officer of Peoples Group.
About Coinbase
Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to send and receive Bitcoin easily and securely. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.
About Peoples Group
Peoples Group has been providing a tailored suite of financial solutions and delivering world-class customer interactions, since 1985. We have grown substantial market share in the insured commercial lending space and are the leading issuer of prepaid payment cards as well as an innovative merchant acquirer. We are an entrepreneurial organization that excels at customizing solutions to fit the needs of our clients. As a trusted partner of many FinTechs, we have a proven track record of giving them the tools and guidance to realize their success.
For more information, please visit peoplesgroup.com
* Interac e-Transfer is a registered trademark of Interac Corp. Used under license.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230814475027/en/
For media inquiries please contact
Amit Shilton, Senior Director, Corporate and Technology
Agnostic
ashilton@thinkagnostic.com
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/91805945/coinbase-accelerates-international-expansion-with:
How Apple lost the K-12 education market to Google
Thursday, August 10, 2023 5:11 pm
Apple’s share of the K-12 education market has been eroding since at least 2017, when cheap Windows computers and Google Chromebooks began to take over the market. These days, Chromebooks dominate in schools, according to market-research firm Canalys.
Business Insider columnist Michael Gartenberg talked to several school principals and superintendents who told him that Google’s support for collaboration and Chromebooks’ multiuser capabilities make it the clear choice for institutions that are already under budget constraints.
Michael Gartenberg for Business Insider:
Apple once worked hard to position the iPad as its offering for education… But as one principal of a relatively affluent private school pointed out to me, the cost of an iPad — along with a Magic Keyboard (cover folio keyboards did not meet their needs), plus an Apple pencil — was the equivalent of at least three comparable Chromebooks that could be used by more than one student. Chromebooks are also much easier to repair or replace and log back in. There’s no need for the complex restore process that Apple uses, particularly for iOS devices.
Chromebooks’ affordability, classroom-specific features, and compatibility with Google’s suite of educational tools make them an ideal choice for institutions looking for a device that can meet the specific needs of the classroom.
But maybe more importantly, Google now owns the K-12 market because Apple appears to be uninterested in it.
MacDailyNews Take: The problem isn’t Apple, it’s the U.S. public education system. In general, it focuses on test-taking. So, Google makes cheap test-taking netbooks to cater to that market. Apple doesn’t make cheap test-taking netbooks.
??? ?
What U.S. public schools have been prioritizing, test-taking over creative solutions for learning, is wrong. Generating a bunch of people adept at memorization, but unable to think creatively and who can learn in myriad ways, is a recipe for failure. – MacDailyNews, March 28, 2018?
???? ?
See also:
• Apple CEO Steve Jobs blasts teacher unions, says US schools are ‘unionized in the worst possible way’ – February 16, 2007
Related
Apple is losing its grip on American classrooms to cheap Chromebooks
Thursday, March 2, 2017
In "News"
Google’s Chromebooks outsold Apple’s Macs in the U.S. for the first time
Friday, May 20, 2016
In "News"
Apple pivoting iPad education strategy to regain its footing in face of Google Chromebook surge
Friday, December 5, 2014
In "News"
https://macdailynews.com/2023/08/10/how-apple-lost-the-k-12-education-market-to-google/
Ford taps former Apple exec Stern to shepherd autonomous driving business
Monday, August 14, 2023 11:05 am
Ford Motor Company on Monday named former Apple executive Peter Stern as the president of its newly-formed integrated services unit to help build its autonomous driving business.
Stern previously oversaw Apple TV+, iCloud, and Apple News+, will focus at Ford on integrating hardware, software and services across Ford Blue, Model e and Ford Pro.
Reuters:
Ford is looking to intensify its focus on connected vehicles, as the auto industry leans more towards subscription-based revenue from highly complex cars and trucks, though some scepticism remains around self-driving technology.
“The basis for differentiation is shifting from the vehicles alone to the integration of hardware, software and services,” Stern said.
Stern starts work at Ford on Monday and will report to CEO Jim Farley.
MacDailyNews Note: Early this year it was reported that Apple was reorganizing its services unit and Stern’s responsibilities were to be be split into three separate divisions.
Related
Bill Ford: carmakers must collaborate with tech companies like Apple
Tuesday, November 3, 2015
In "News"
Ford’s in-car system finally works, thanks to Apple Siri’s arrival in software update
Friday, December 4, 2015
In "News"
Toyota, QNX, others adopt Ford’s SmartDeviceLink platform
Monday, January 4, 2016
In "News"
https://macdailynews.com/2023/08/14/ford-taps-former-apple-exec-stern-to-shepherd-autonomous-driving-business/
Will Apple ever do live keynote addresses again?
Wednesday, August 9, 2023 5:49 pm
We get it. The wild overreaction to COVID-19 — blanket lockdowns, useless cloth masks (safe not to use when eating (smirk)), plexiglass partitions that did absolutely nothing, abjectly stupid “6-feet apart” stickers on floors, etc., etc., etc. — necessitated the suspension of live presentations at Apple events.
Yet, it’s 2023 now and even China — which very likely engineered and let loose COVID-19, partially funded by the U.S. National Institutes of Health, no less — has finally exhausted its prodigious authoritarian inclinations and largely resumed normal life. Regardless, Apple plans to continue doing canned keynotes.
Mark Gurman via ??:
Not that there was any doubt, but Sept 12 event is being prepared as an in-person launch. So recorded video + people watching at the Apple campus + hands on afterwards. Same as the iPhone 14.
José Adorno for BGR:
As a journalist, I covered press conferences in the most diverse places with different styles of keynotes and executives. Still, none of them offered the same experience as an Apple event. In 2019, I covered the last in-person WWDC in San Jose, California.
Being surrounded by developers from all over the world, international media, and Apple staff was indeed a once-in-a-lifetime experience. During the keynote, I saw developers cheering about the latest software updates and gasping when Apple introduced the all-new Mac Pro and the Pro Display XDR.
But it seems Apple prefers to move on from Steve Jobs-like keynotes to error-proof presentations that only a recorded video can bring. The events are faster, but they lose that special Apple touch only a live keynote could have.
MacDailyNews Take: As we wrote back in September 2022:
It’s highly likely that Apple’s pre-taped, edited special event videos are with us for the foreseeable future due to the significant reduction on demand on executive presenters’ time alone. The hands-on area and access to Apple executives at these events are easily strong enough draws for the media to attend in person: Watch the movie, then play with — or at least see — and photograph the actual tech afterwards with an executive Q&A. It obviously works.
If Apple ever again gets a dynamic, charismatic CEO who’s mastered on-stage live presentations, we may return to such events, but, for now, enjoy the videos!
Related
Steve Jobs’ Keynote work ethic – and Apple’s latest Keynote 6.6’s new build
Thursday, October 22, 2015
In "News"
Apple will stream WWDC17 Keynote Address live on June 5th at 10am PDT
Thursday, May 25, 2017
In "News"
Apple to stream WWDC 2014 keynote address live on June 2nd
Tuesday, May 27, 2014
In "News"
https://macdailynews.com/2023/08/09/will-apple-ever-do-live-keynote-addresses-again/
Coinbase celebrates art, music and gaming with a three-week blockchain event
SERKAN KESKIN
7 HOURS AGO
One of the largest cryptocurrency exchanges to hold a multi-week event on blockchain where the community celebrates art, music, gaming and more.
The inclusive nature and global reach of cryptocurrencies and blockchain technology have given rise to a diverse community of individuals from various nationalities, cultures, backgrounds and socioeconomic statuses. The influence of crypto and blockchain expands beyond financial technologies, and the community reflects that by spanning across different sectors, including health care, gaming, retail, social and political domains.
For this vast network of enthusiasts, estimated to surpass 420 million people worldwide in 2023, touching base and socializing about common interests is crucial. This is why the crypto and blockchain ecosystem is never short of conferences, festivals and summits — events that play a pivotal role in fostering unity, collaboration and shared excitement within the crypto space.
The community will get a chance to celebrate art, culture, gaming, music and more at a multiweek event named Onchain Summer. Presented by Coinbase, Onchain Summer is an online event slated to take place from Aug. 9 to Aug. 31 and aimed at showcasing the next wave of on-chain utility.
Powered by Base, the layer-2 network incubated by Coinbase, Onchain Summer is bringing industry-leading brands, builders, artists and creators together with the global crypto and blockchain community.
Direct support for artists and creators
Onchain Summer will benefit from crypto and its underlying blockchain technology to build and distribute art, music, games and social experiences. Attendees will get a chance to participate in on-chain mints, where ownable content will be made available to mint daily.
By simply joining the celebration, crypto and blockchain enthusiasts will be able to support the contributing artists and musicians directly. Onchain Summer features renowned brands and organizations, including the next-gen social network Friends with Benefits, soft drink giant Coca-Cola, the sci-fi card game Parallel, and the art and culture platform Highlight.
Global access via blockchain
Users can attend Onchain Summer from anywhere worldwide by visiting onchainsummer.xyz in their browsers. While a compatible Ethereum wallet is required to enter Onchain Summer, the seamless integration between the Coinbase Wallet and the Base network makes it fast and easy for Coinbase users to join the Base network. To make any purchases during the event, including art, music or other content, users need to transfer Ether to the Base network.
Base is a layer-2 network on the Ethereum blockchain that provides low-cost transaction fees. During the event, builders will have the chance to experience Base’s fast, efficient and inexpensive development environment by building, creating and growing on-chain.
The integration between Coinbase and the Base network will make it easy for visitors to join the three-week-long on-chain celebration, where they can play games, trade ideas, socialize with each other and collect their favorite creators’ content.
Events and festivals serve as powerful catalysts for uniting communities worldwide. With events like Onchain Summer, the global crypto and blockchain community can come together to embrace the limitless possibilities of on-chain art, music and gaming and discover new horizons for their passion.
https://cointelegraph.com/news/coinbase-celebrates-art-music-and-gaming-with-a-three-week-blockchain-event
19% of New Yorkers own cryptocurrency: Coinbase report
EZRA REGUERRA
13 HOURS AGO
Coinbase highlighted that there are 692 blockchain organizations and more than 800 founders in New York.
A Coinbase report series highlighting crypto innovation at the state level in the United States has recently published its fourth edition, which features New York. The report highlighted various milestones the state reached regarding crypto adoption.
Within the report, Coinbase noted that 19% of New York residents who participated in the study own cryptocurrencies. Additionally, one in three New Yorkers agreed that crypto makes the financial system fairer and described it as a “worthwhile investment for the future.“
The Coinbase report also highlighted that as New York residents continue to embrace the idea of crypto, the state continues to become a home for blockchain-centered projects. According to the report, 692 blockchain organizations and over 800 founders are based in New York state.
As crypto adoption grows in New York, state regulators are improving their capacity to supervise digital currencies. On Feb. 21, the New York State Department of Financial Services announced it had enhanced its ability to detect crypto-related illegal activities. According to the announcement, the department will have additional capabilities in detecting insider trading, market manipulation and front-running activities...
https://cointelegraph.com/news/new-york-residents-own-cryptocurrency-coinbase-report
China to require all mobile apps to share business details with Chinese Communist Party
Wednesday, August 9, 2023 8:45 am
China’s Ministry of Industry and Information Technology (MIIT) has announced that all mobile app providers in the country will be required to file business details with the government. This is the latest effort by Beijing to tighten its control over the mobile app industry. This is a significant change for the mobile app industry in authoritarian China.
The new rule, which will take effect in March 2024, requires app providers to provide information such as their company name, address, and contact information. They will also need to state the purpose of their app and the data that they collect from users.
Apps that do not comply with the new rule will be punished, but the MIIT has not yet specified what those punishments will be. Experts say that the new rule could potentially restrict the number of apps available in China and make it more difficult for small developers to get their apps on the market.
Josh Ye for Reuters:
You Yunting, a lawyer with Shanghai-based DeBund Law Offices, said the order is effectively requiring approvals from the ministry.
Rich Bishop, co-founder of app publishing firm AppInChina, said the new rule is also likely to affect foreign-based developers which have been able to publish their apps easily through Apple’s App Store without showing any documentation to the Chinese government.
Bishop said that in order to comply with the new rules, app developers now must either have a company in China or work with a local publisher.
[Apple] pulled over a hundred artificial intelligence (AI) apps from its App Store last week to comply with regulations after China introduced a new licensing regime for generative AI apps for the country.
The ministry’s notice also said entities “engaged in internet information services through apps in such fields as news, publishing, education, film and television and religion should also submit relevant documents.”
The requirement could affect the availability of popular social media apps such as X, Facebook and Instagram. Use of such apps are not allowed in China, but they can be still downloaded from app stores, enabling Chinese to use them when traveling overseas.
MacDailyNews Take: As Potter Stewart said so well, “Censorship reflects a society’s lack of confidence in itself.”
Related
Apple bows to Chinese government censorship, to pull thousands of games from China App Store
Monday, June 22, 2020
In "News"
U.S. senator blasts Apple for ‘risking compromise to authoritarianism’ in China
Wednesday, November 6, 2019
In "News"
Propaganda 2.0: Chinese Communist Party’s message gets tech upgrade
Tuesday, March 5, 2019
In "News"
https://macdailynews.com/2023/08/09/china-to-require-all-mobile-apps-to-share-business-details-with-chinese-communist-party/
TSMC to build $11 billion chip plant in Germany with other chipmakers
Tuesday, August 8, 2023 4:09 pm
Taiwan Semiconductor Manufacturing Co. (TSMC) has agreed to build a €10 billion ($11 billion) plant in Germany in partnership with Infineon Technologies AG, NXP Semiconductors NV, and Robert Bosch GmbH.
Debby Wu and Aggi Cantrill for Bloomberg News:
The planned fab will be 70% owned by TSMC, which will operate the facility in the city of Dresden, with Infineon, NXP and Bosch each holding a 10% equity stake, subject to regulatory approval, the companies said Tuesday in a joint statement.
Slated to begin production by the end of 2027, it will provide chips for the automotive and industrial sectors and is a first step for TSMC in establishing a major European presence to counter risks from escalating US-Chinese tensions.
It’s also another coup for Chancellor Olaf Scholz’s ruling coalition, which has agreed €10 billion in aid for a new Intel Corp. plant in Magdeburg in a push to shore up the country’s tech sector and secure supplies of critical components. The government will provide as much as €5 billion in subsidies for TSMC’s Dresden factory, Bloomberg has reported.
The Taiwanese company said in a separate statement that it will contribute €3.5 billion to the project, dubbed European Semiconductor Manufacturing Company GmbH. Total investment is expected to amount to more than €10 billion, including “strong support from the European Union and the German government,” and it will create about 2,000 direct high-tech jobs, the companies said.
MacDailyNews Note: More info in the companies’ press release here.
https://macdailynews.com/2023/08/08/tsmc-to-build-11-billion-chip-plant-in-germany-with-other-chipmakers/#google_vignette
Apple stock buybacks are still in full swing, benefitting Warren Buffett’s bottom line
Tuesday, August 8, 2023 9:27 am
For many years now, Apple has made good on its history-making buyback program, investing more than $573 billion on share repurchases since 2012. In its most recent quarter, Apple invested another $18 billion on buybacks, which have benefited Warren Buffett’s bottom line for Berkshire Hathaway.
Alexandra Garfinkle for Yahoo Finance:
“At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us,” Buffett wrote in Berkshire’s annual shareholders letter this year. “The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose.”
A staggering 46% of Buffett’s portfolio is concentrated in Apple stock, which Buffett’s Berkshire first bought in 2016.
Buffett even penned a fervent defense of buybacks in his annual letter.
“When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive),” he wrote.
MacDailyNews Note: In May, Apple’s board of directors authorized an additional buyback program to repurchase up to $90 billion of the company’s common stock (AAPL).
https://macdailynews.com/2023/08/08/apple-stock-buybacks-are-still-in-full-swing-benefitting-warren-buffetts-bottom-line/
U.S. Supreme Court denies Epic Games request to allow Apple App Store order take effect
Wednesday, August 9, 2023 12:26 pm
In a victory for Apple, The U.S. Supreme Court on Wednesday denied Fortnite-maker Epic Games’ request to lift a decision by the 9th U.S. Circuit Court of Appeals that delayed implementing a lower court injunction against Apple. The injunction would have forced Apple to change payment practices in its App Store.
The 9th Circuit had upheld the injunction in April, but put it on hold in July to give Apple time to appeal to the Supreme Court. The Supreme Court’s decision on Wednesday means that the injunction will remain on hold for now, and Apple will not be forced to change its payment practices.
MacDailyNews Take: Well, at least Epic is really good at one thing: losing.
As we wrote in July:
Epic is nuts. They want all of the benefits of Apple’s App Store for free. That isn’t how any of this works. Hopefully, SCOTUS will [eventually] correct the 9th Circuit judge’s foolishness which is akin to a judge issuing an injunction that forces Best Buy and Target to place signs next to each product that advertise lower prices for the same items at Walmart.
Regardless, even if the Supreme Court [ultimately] rules against Apple, if developers like Epic Games want to advertise lower prices using Apple’s App Store, Apple should simply begin charging an In-Store Advertising fee, because that’s exactly what it would be.
Related
Epic Games asks U.S. Supreme Court let Apple App Store order take effect
Thursday, July 27, 2023
In "News"
Apple to ask U.S. Supreme Court to quash App Store order in Epic Games case
Wednesday, July 5, 2023
In "News"
Apple wins appeal in Epic Case; App Store changes put on hold
Wednesday, December 8, 2021
In "News"
https://macdailynews.com/2023/08/09/u-s-supreme-court-denies-epic-games-request-to-allow-apple-app-store-order-take-effect/
Jasmy develops an authentication solution that eliminates the need to enter IDs and passwords
Jasmy Co., Ltd.
July 31, 2023 15:00
1
Jasmy Co., Ltd. (Headquarters: Minato-ku, Tokyo, Representative Director: Kazumasa Sato, hereinafter referred to as Jasmy), which provides platforms and solutions for IoT, is an authentication that does not require the entry of IDs and passwords that rely on personal memories and unique terminals. We are pleased to inform you that we have developed a solution.
This solution is based on the authentication function of the distributed ID "Jasmy Personal Data Locker (hereinafter referred to as PDL)" provided by our company. No.>" will be introduced to achieve strong security through passwordless authentication.
In addition, by incorporating this authentication solution into smartphone applications and wearable devices through joint development with partner companies, it can be used not only for authentication on the Internet but also for various IoT devices. Furthermore, by introducing biometric authentication, we will provide stronger security.
¦ Development background
In today's Internet world, ID and password management has reached its limits due to the diversification of digital services. In addition, digital services managed independently by companies and organizations store personal information everywhere, increasing the risk of leaks of not only IDs and passwords but also personal data.
Therefore, at our company, we have utilized the "Secondary Key Security Technology (Patent No. 7250288)" to develop a secure authentication solution not only for online but also for IoT devices.
¦ New technology details
Designate a smartphone application or device (hereinafter referred to as [AD]: Authentication Device) that uses this authentication solution, and transfer [AD] information and various services to the blockchain platform (hereinafter referred to as authentication PF) including PDL provided by our company. Register the ID and password information to be used for . At that time, it will be possible to automatically generate a secure password. In addition, between the [AD] and the authentication PF, a patented key generation method is used to realize secure exchanges of the public key method.
When using biometric information, biometric information can be registered, but the biometric information is recorded in [AD] and is not registered in the authentication PF (see Figure 1)...
https://prtimes.jp/main/html/rd/p/000000054.000025296.html
Crypto this Tuesday: Coinbase’s Millionaire Bond Buyback, Binance Gets License in El Salvador, and More
August 08 2023 - 02:09PM
IH Market News
Coinbase celebrates high with millionaire bond buyback managed by Citigroup
After robust Q2 performance, Coinbase (NASDAQ:COIN) has proposed to buy back up to $150 million of its $1 billion bond, due in 2031. Investors who sell bonds by Aug. 18 will receive $645 for $1,000 of the face value; after that date and through September 1, they will receive $615. Offer is premium over pre-announced price. Such a decision follows Coinbase’s higher-than-expected profit and bitcoin’s rise in 2023. The buyback is managed by Citigroup Global Markets (NYSE:C).
Binance shines in El Salvador: license obtained and proper bookings confirmed
Binance has been licensed to serve residents of El Salvador, as approved by the Central Reserve Bank and the National Digital Assets Commission. The license allows the exchange to offer specific crypto products in the country. Min Lin, head of Binance for Latin America, stated that the licensing process took months. In 2021, El Salvador adopted Bitcoin as legal tender, driven by President Nayib Bukele. In other news, Binance released its latest proof of reserves (PoRs) on Aug. 1, evidencing the adequacy of its crypto reserves. However, the movement of its stablecoin, USDC, after the Silvergate incident sparked debate on X (formerly Twitter). The audit revealed that Binance holds more assets than necessary to cover user balances. But after the fall of Silvergate, Binance has converted much of its USDC into Bitcoin and Ether, causing speculation. The demand for transparency grew in the crypto market after the FTX collapse in 2022.
Bitstamp is not for sale and aims to expand and trade derivatives with help from Galaxy Digital
Bitstamp, the oldest cryptocurrency exchange in the world, is seeking new funding to expand its services, according to its CEO, Jean-Baptiste Graftieaux. Galaxy Digital Holdings is acting as a funding consultant. Graftieaux emphasized that Bitstamp is not for sale and is looking to accelerate growth, with plans to launch derivatives trading in Europe in 2024.
Blockchain.com secures Singapore MAS license
Blockchain.com brokerage has obtained a license from the Monetary Authority of Singapore (MAS) to offer digital payment token services. After receiving initial approval from MAS the previous year, the company now solidifies its presence in Singapore, a strategic hub for its Asian operations. Other crypto companies have also received similar licenses recently.
Circle: 70% adoption of USDC outside the US and web3 innovations
Jeremy Allaire, CEO of Circle, revealed on X (formerly Twitter) that around 70% of the adoption of USD Coin (COIN:USDCUSD), takes place outside the US, with accelerated growth in emerging markets such as Asia, LATAM and Africa. In the August 3 transparency report, Circle stated that 93% of its Circle Reserve Fund was allocated to short-term US Treasuries, overnight repurchase agreements and liquidity. According to the company, the remaining 7% are in bank reserves. In addition, Circle launched a web3 programmable wallet platform that allows companies to integrate customizable wallets into applications, facilitating payments with digital assets. The platform is already in beta on the Ethereum, Avalanche and Polygon networks, with plans to expand to other blockchains.
Paxos expands high-trust PYUSD stablecoin partnerships
Walter Hessert of Paxos Trust reported that more stablecoin projects similar to PayPal’s PYUSD (NASDAQ:PYPL) are in the works. While he didn’t confirm conversations with Elon Musk and X, Hessert did emphasize collaboration with big tech and financial companies. PYUSD, regulated and protected, raises confidence in the digital asset industry. Paxos is also seeking partnerships to drive mass adoption of blockchain products.
Brazil embraces the digital future with “Drex”
The Central Bank of Brazil presented the official brand for its digital currency, named “Drex”. The acronym stands for “Electronic Digital Real” with an ‘x’ symbolizing modernity and DLT technology. The design, with arrows and color transition, reflects the evolution of the real thing to its digital form and successful transactions.
Mango Markets liquidity dilemmas
After an alleged $100 million hack by Avi Eisenberg, Mango Markets faces rising legal expenses and internal tensions. Mango Labs, responsible for the platform, sought approval from the Mango DAO for an additional $2 million in funding, but was met with resistance. With most of Mango DAO’s assets in MNGO tokens (COIN:MNGOUSD), liquidity is a challenge. Mango Labs founder Daffy Durairaj reiterates the need for more funds to deal with legal costs. The company’s future and impact on the crypto industry remain uncertain.
Cypher Protocol freezes contract after $1 Million exploit
Solana-based DEX Cypher Protocol stopped a smart contract after an exploit of around $1 million. The team is investigating and has frozen the contract, inviting the attacker to negotiate the return of funds. Analyzes point to a possible recovery of assets. The incident occurred during a Cypher event.
Ecology and Bitcoin hand in hand: sustainable mining by Trust Machines
Bitcoin (COIN:BTCUSD) mining, often criticized for its environmental impact due to energy consumption, is evolving. Trust Machines’ Rena Shah highlighted green solutions including harnessing flare gas and nuclear power. Flare gas turns waste into energy for mining. Nuclear energy, a constant and clean source, is being exploited by miners. Along with other renewable solutions, the industry is looking to reduce its carbon footprint and encourage more activity on the Bitcoin blockchain, aiming for a greener future.
Bitmain and Anchorage make move after Core Scientific bankruptcy and reorganization
Bitcoin mining giant Bitmain and platform Anchorage Digital plan to acquire shares in miner Core Scientific after its bankruptcy. Core Scientific’s reorganization plan is pending a vote. The company will buy equipment from Bitmain for US$ 77.1 million, paying part of it in shares. This will likely be the first time that Bitmain will have a stake in a publicly listed miner. Other companies may convert their loans into equity or secured debt at Core Scientific. The mining company also negotiates stock offers and agreements with other creditors and suppliers.
CoinGecko leads with “Top Alleged Securities Coins”: reflection of the new regulatory landscape
CoinGecko, a cryptocurrency data aggregator, has launched a new category listing crypto assets designated as securities by the US SEC. Created in response to the uncertain regulatory landscape, the category, named “Top Alleged Securities Coins”, ranks tokens by market capitalization, with Binance Coin (COIN:BNBUSD) leading the way. The SEC has identified 68 cryptocurrencies as securities, but CoinGecko lists 24. Other platforms such as CoinMarketCap have also adopted similar categories. Ripple’s XRP (COIN:XRPUSD) has been delisted following a legal verdict. These categories are intended to help investors understand the regulatory implications in the crypto market.
yPredict raises $3.4 million in funding
yPredict, an AI platform specializing in cryptocurrency analysis, raised $3.4 million in funding. AyPredict aims to offer analysis for traders, combining market patterns, sentiments and technical indicators. With tools like pattern recognition and sentiment analysis, yPredict aims to provide complete market insights. The YPRED token gives access to staking tools and rewards. Its Marketplace connects developers and traders, enabling the monetization of quantitative models. Offering analytics and forecasting solutions, yPredict aspires to democratize algorithmic trading, supporting more informed crypto trading.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/91762385/crypto-this-tuesday-coinbase-s-millionaire-bond
Gene Munster: Investors should focus on Apple’s growing installed active base of over 2 billion active devices
Monday, August 7, 2023 11:29 am
Gene Munster, Deepwater Asset Management managing partner, joins CNBC’s “Squawk Box” to discuss the takeaways from Apple and other Big Tech earnings, the health of the mega-cap stocks, and that Apple’s growing installed active base of over 2 billion active devices is where investors should be focusing, meaning Apple Services, not just on the company’s hardware sales.
Video at link below:
Apple’s installed base reached an all-time high across all geographic segments, driven by a June quarter record for iPhone switchers and high new-to rates in Mac, iPad and Watch, coupled with very high levels of customer satisfaction and loyalty.
MacDailyNews Take: In Q323, Apple set an all-time revenue record in Services driven by more than one billion paid subscriptions. Apple’s Services revenue reached $21.2 billion and saw a sequential acceleration to an 8% year-over-year increase, better than the company expected. Apple set an all-time revenue record for total services and in a number of categories, including Apple TV+ AppleCare, iCloud, and Apple Card. Apple promises “updates coming later this year to make Services more powerful, more useful, and more fun than ever.”
https://macdailynews.com/2023/08/07/gene-munster-investors-should-focus-on-apples-growing-installed-active-base-of-over-2-billion-active-devices/
AUSTRALIANSUPER HAS SLASHED POSITIONS IN APPLE AND MICROSOFT
Dennis Sellers August 6, 2023
posted on Aug. 06, 2023 at 6:46 pm
AustralianSuper slashed positions in Apple and Microsoft, bought more shares of electric-vehicle maker Tesla, and initiated a position in chip provider Nvidia in the second quarter, reports Barron’s.
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. It is an industry super fund, and so operates through a mutual fund structure. AustralianSuper is the largest superannuation fund in Australia and the twentieth largest pension fund in the world.
The stock trades were disclosed in a form it filed with the Securities and Exchange Commission. AustralianSuper declined to comment on the investment changes to Barron’s. However, as of June 30, 2022, it managed $170 billion in assets, making the pension Australia’s biggest, and the world’s 20th largest.
Apple stock soared 49% in the first half of 2023, compared with a 16% rise in the S&P 500 index. So far in the third quarter, shares are down 6% compared with the index’s flat performance.
https://appleworld.today/australiansuper-has-slashed-positions-in-apple-and-microsoft/
MacDailyNews presents live notes from Apple’s Q323 conference call
Thursday, August 3, 2023 4:46 pm
MacDailyNews presents live notes from Apple’s Q323 Conference Call with analysts starting at 2pm PDT / 5pm EDT today, August 3, 2023
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 PDT / 5pm EDT here.
Apple today posted quarterly revenue of $81.797 billion (vs. $82.959 billion YOY), down 1 percent year over year, and quarterly earnings per diluted share of $1.26 (vs. $1.20 YOY), up 5 percent YoY.
For the quarter, analysts’ consensus estimates (per Refinitiv) called for Apple to report EPS of $1.19 EPS (vs. $1.26 actual) on revenue of $81.700 billion (vs. $81.797 billion actual).
Live notes:
• AAPL After hours: $187.05, -$4.12 (-2.16%) @ 6:02PM EDT
• End of call
• Cook: We just opened two new retail stores in India last quarter
• Cook: Stores are a key part of Apple’s approach and will be very key to the launch of Apple Vision Pro
• Q: Apple Retail Stores?
• Cook: The iPhone compare has a bit of a headwind as iPhone SE was announced last year, but we see iPhone sales accelerating YoY regardless
• Cook: Switching is a huge opportunity for us
• Cook: Switchers set a record in greater China, in particular
• Q: iPhone switchers?
• Cook: We could not be more excited about Apple Vision Pro; I am using the product daily
• Q: Apple Vision Pro?
• AI and ML is absolutely critical; Apple has been doinf research in AI for years, including generative AI; we do not discuss unannounced products
• Cook: We view AI and Machine Learning (ML) as core fundamental tech that are integral to every product that we build
• Artificial Intelligence (AI) strategy?
• Cook: India is the second largest smartphone market in the world; we have a huge opportunity in India
• Cook: We set June quarter record; we continue to build and invest in India
• Prospects for iPhone in India?
• Cook: We could not be happier with MLS Season Pass; Messi in the MLS is a big help
• Cook: Sport is a part of that; it’s the ultimate original story
• Cook: We are focused on original content with Apple TV+
• Q: Live sports?
• Cook: Generally speaking, it would be quite easy to find an iPhone promotion especially if switching services; expect that to continue in September quarter
• Q: U.S. carriers have had programs for iPhone upgrades for years; are these programs in place this year?
• Luca: We try to hedge foreign exchange as best we can; about 60% of Apple business is outside of the U.S.
• Q: foreign exchange?
• France, Italy, The Netherlands, Austria all did well in June quarter
• Luca: Emerging markets in Europe includes India
• Western Europe?
• AirPods continue to be a great success; Wearables, Home and Accessories has become a very big part of Apple’s business
• Wearables install base is growing quickly with 2/3rd of Appel Watch buyer being new to the product
• Luca: Wearables growth very strong in China
• Q: Wearables growth?
By offering better and more content over time, Apple believes it can attract more and more subscribers
• Luca: Customers with multiple Apple devices tend to be more active with Services
• Q: Hardware install base of 2+ billion; Services per device?
• Apple keeps enhancing the ecosystem
• Install base continues to grow
• Services growth shows a high level of engagement
• Many Services categories are showing growth
• Luca: Clearly we’ve seen an improvement in Services; we expect more in September
• Q: Services acceleration this quarter and next, why?
• Luca: We look at the environment and we know it’s an uncertain period, so we deliberately control our spending, hiring; we’re very pleased with expense growth currently
• Q: OpEx?
• Really good signs in most places in the world
• Cook: A challenging smartphone market in the U.S. currently
• Cook: U.S. saw a slight acceleration
• Cook: China went from -3 to +8, it’s an acceleration
• Cook: We did exceptionally well in emerging markets last quarter
• Luca: We continue to take advantage of favorable commodity prices
• Luca: Guidance takes into account the expectation of a better foreign exchange
• Luca: Majority of iPhones (well over 50%) are sold via affordability programs around the world (trade-ins, installment plans, etc.)
• Q: iPhones sold in installment vs. full purchase price?
• Luca: Mac and iPad will decline double digits due to difficult compare; last June Apple had factory shutdowns and Mac and iPad sales were fulfilled in September 2022 quarter
• Q: Guidance color? Seasonality changing?
• Similar gross margin expected for September quarter
• Foreign exchange continues to be a considerable drag
• Commodity environment is favorable to Apple
• Gross margin driven by cost savings and mix shift to Services
• 44.5% for the June quarter is a Q3 record
• Gross margin so high?
• Slight acceleration of iPhone primarily in the U.S.
• iPhone performance set record in India, Indonesia, southeast Asia, Latin America
• Luca: On a geographic basis, great iPhone performance in emerging markets
• Q: Uneven macro environment? iPhone demand on geographic basis?
• The dividend is payable on August 17, 2023 to shareholders of record as of the close of business on August 14, 2023
• Apple’s board of directors has declared a cash dividend of $0.24 per share of the company’s common stock
• Tax rate to be around 16%
• We expect Mac and iPad to decline double digits due to difficult compares
• iPhone and Service expected to accelerate vs June quarter
• 44-45% gross margin expected in September quarter
• Outlook for September quarter: We expect YoY revenue performance to be similar to June quarter
• $57 billion net cash at end of quarter
• total debt $109 billion
• Apple continues to enhance services from Apple Arcade to Apple TV to Apple Card Savings accounts
• Paid subscriptions showed strong growth, over 1 billion paid subscriptions
• Active install base of over 2 billion
• We are very pleased with Services performance
• 2/3rds of Apple Watch buyers were new to Apple Watch
• Over half of iPad buyers during quarter were new to iPad
• Nearly half of Mac buyers during quarter were new to the Mac
• iPhone active install base grew to an all-time high due in part to strong switchers
• iPhone revenue grew YoY on a constant currency basis
• $26.4 billion operating cash flow
• Service gross margin: 70.5%
• Products gross margin: 35.4%
• Gross margin 44.5%, a record level for the June quarter; driven by cost savings and favorable
• Installed base reached all-time high in all geographic segments
• $60.6 billion in products revenue
• Luca: On constant currency basis, Apple’s revenue grew YoY
• Cook: We’ll continue to manage for the long term
• Cook promotes Apple’s efforts in education
• Apple’s goal is to be carbon neutral by 2030 throughout its operations
• Cook touts Apple’s DEI efforts
• Cook touts Apple security and privacy focus
• Cook touts Apple’s commitment to accessibility
• Apple Store Online launched in Vietnam
• Apple Music launched new live music features
• Messi’s arrival in MLS is very exciting for Apple
• Apple TV+ is highly nominated, awarded
• Apple Card high-yield Savings now has over $10 billion in deposits
• Services revenue: $21.213 billion; 8% YoY, better than Appel expected; all-time quarterly record
• Cook touts WWDC 2023 announcements, features
• Wearables, Home and Accessories revenue: $8.284 billion
• iPad revenue: $5.792 billion (down due primarily to a difficult compare YoY)
• Mac revenue: $6.840 billion
• iPhone revenue: $39.669 billion
• Cook touts new Macs, new OSes, and Apple’s introduction to the world of spatial computing with Apple Vision Pro in June, “a marvel of innovation only possible at Apple”
• We grew YoY on a constant currency basis
• Set an all-time quarterly Services revenue record
• Set June quarter records in many countries
• Cook: Apple reported revenue os $81.8 billion, better than our expectations
• Apple CEO Tim Cook to speak first, followed by Apple CFO Luca Maestri, and call will conclude with analysts’ questions
• The analysts’ consensus, per Refinitiv, expected Apple to report revenue of $81.7 billion and EPS of $1.19
• Apple reported quarterly earnings per diluted share of $1.26, up 5 percent YoY
• Apple posted quarterly revenue of $81.8 billion, down 1 percent YoY
https://macdailynews.com/2023/08/03/macdailynews-presents-live-notes-from-apples-q323-conference-call/
Apple’s August 3rd earnings report is especially critical to Wall Street rally
Thursday, August 3, 2023 8:55 am
Results from Apple, and to a lesser extent, Amazon, after Thursday’s closing bell represent the next big hurdle for the market’s tech-fueled rally.
Ryan Vlastelica for Bloomberg News:
Both stocks have been critical to the S&P 500’s advance this year, attracting investors with their relatively durable revenue streams and market dominance. But whether they can fuel further gains is in question, given they trade at lofty multiples, face headwinds in their core businesses, and have limited direct exposure to artificial intelligence — a key driver behind this year’s jump.
Rate sensitive tech stocks suffered a blow on Wednesday after Treasury yields soared in the wake of Fitch’s downgrade of US sovereign debt. A tech-fueled rally has added more than $6 trillion in value to the S&P 500 index this year, but the sector has struggled to advance after coming within 5% of the Nasdaq 100’s all-time high last month…
Apple, whose 48% gain in 2023 has made it the only company valued at more than $3 trillion, will be especially critical if the rally is to get back on track. The stock accounts for nearly 8% of the S&P 500 Index, giving it enormous sway over the benchmark.
MacDailyNews Take: Here’s what the analysts’ consensus, according to FactSet, expects Apple to report:
• Revenue: $81.9 billion
• EPS: $1.19
• iPhone revenue: $40.3 billion
• Services revenue: $20.8 billion
• Wearables, Home and Accessories revenue: $8.3 billion
• Mac revenue: $6.6 billion
• iPad revenue: $6.5 billion
• Americas revenue: $38 billion
• Greater China revenue: $13.6 billion
https://macdailynews.com/2023/08/03/apples-august-3rd-earnings-report-is-especially-critical-to-wall-street-rally/
Apple assembler Foxconn invests $500 million in India in shift from China
Tuesday, August 1, 2023 8:56 am
Apple biggest assembler, Foxconn Technology Group, is planning to invest close to $500 million to build two component factories in India as part of a steady diversification from China.
Sankalp Phartiyal for Bloomberg News:
At least one of the factories that the Taiwanese company plans to construct in the southern Karnataka state will produce Apple parts, including for iPhones, people familiar with the matter said. A formal announcement is expected as early as this week, the people said, declining to be named as the matter is not public.
The exact location of these new plants is yet to be decided.
Separately, Foxconn has also signed an initial agreement with the southern Tamil Nadu government to set up a component plant with an investment of 16 billion rupees ($195 million), the state’s industries ministry said Monday. The project planned at Kancheepuram district is likely to generate about 6,000 jobs.
Apple suppliers such as Foxconn have ramped up business in India over the past few years thanks to Prime Minister Narendra Modi’s incentives to boost local manufacturing. States such as Karnataka have also wooed companies with quick decision making, cutting down on red tape and throwing in subsidies.
MacDailyNews Take: Apple’s Houdini act of slowly extricating itself from a trap of its own making continues unabated.
Related
Apple assembler Foxconn invests $500 million in India business as Apple looks to lessen crippling dependence on China
Friday, December 9, 2022
In "News"
Foxconn in talks to build Apple factories in India to assemble iPhones, iPads, and iPods
Friday, June 12, 2015
In "News"
Apple assembler Foxconn to invest $500 million in India’s Telangana state, create 25,000 jobs
Monday, May 15, 2023
In "News"
https://macdailynews.com/2023/08/01/apple-assembler-foxconn-invests-500-million-in-india-in-shift-from-china/
SEC asked Coinbase to trade only in bitcoin before suing crypto exchange, Financial Times reports
Reuters
July 31, 20237:56 AM EDTUpdated 3 hours ago
July 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN.O) to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong.
"We really didn't have a choice at that point. Delisting every asset other than bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the U.S.," Armstrong told the FT.
"It kind of made it an easy choice ... ?let's go to court and find out what the court says," he added.
The SEC had accused Coinbase of operating illegally because it failed to register as an exchange. It also alleged that Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon.
The SEC told the FT that its enforcement division did not make formal requests for "companies to delist crypto assets".
"In the course of an investigation, the staff may share its own view as to what conduct may raise questions for the commission under the securities laws," FT said, citing the SEC.
In response to the FT report, a Coinbase spokesperson said the SEC had never shared a position that all assets other than bitcoin were securities, and that staff don't make formal requests such as the one implied by the article without a vote of the full commission.
"We continue our discussions with the Commission, but believe that transparent and fair rulemaking and Congressional action represent the best path forward for American crypto users and the companies building the cryptoeconomy in the US," the spokesperson added.
The regulator sued Binance in June, with both civil cases part of SEC Chair Gary Gensler's push to assert jurisdiction over the crypto industry.
Gensler has labeled the crypto industry a "Wild West" that has undermined investor trust in the U.S. capital markets. Crypto companies say the SEC rules are unclear, and that the agency is overreaching by trying to regulate them.
The SEC did not immediately respond to a Reuters request for comment on the report.
Reporting by Juby Babu in Bengaluru; additional reporting by Kanjyik Ghosh and Rishabh Jaiswal; Editing by Sonia Cheema, Savio D'Souza and Anil D'Silva
https://www.reuters.com/technology/sec-asked-coinbase-stop-trading-cryptocurrencies-other-than-bitcoin-prior-suing-2023-07-31/
Piper Sandler ups Apple stock price target to $220
Monday, July 31, 2023 11:14 am
Piper Sandler analyst Harsh Kumar in a note to clients on Monday upped the firm’s Apple price target to $220, up from its $200 target set in January 2022.
Malcolm Owen for AppleInsider.:
The June-specific comments has analysts expecting Apple to “slightly miss Street EPS expectations of $1.19 by between $0.02 to $0.04.” Overall revenue is similarly going to miss the street’s $81.7 billion estimate, by being “slightly lower.” “Overall, we feel that Apple will be able to execute in its key segments and markets for the June quarter,” the report states.
Discussing China, Apple’s iPhone is “gaining meaningful share” despite concerns about a potential slowdown. “We beg to differ and believe that the Chinese population is selectively choosing iPhones over Android devices,” Piper Sandler asserts, with “positive momentum” over the last three quarters. “We believe that the concerns about China’s slow-down for iPhone might be at a minimum relatively, if not completely, overblown.”
Piper Sandler estimates “Apple will deliver September assumptions that will match or slightly exceed street expectations” based on China and India success.
MacDailyNews Take: Currently, the analysts’ consensus calls for Apple to report fiscal Q323 revenue of $81.64 billion and EPS of $1.19 on Thursday, August 3rd.
MacDailyNews Note: As always, we’ll have Apple’s results on August 3rd right around 1:30 p.m. PT / 4:30 p.m. ET. followed by live notes from Apple’s conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET.
Related
Piper Sandler ups Apple price target to $175
Thursday, September 9, 2021
In "News"
Piper Sandler ups Apple target price to $130
Wednesday, September 16, 2020
In "News"
Analysts lower Apple estimates due to weakening demand
Tuesday, March 24, 2020
In "News"
https://macdailynews.com/2023/07/31/piper-sandler-ups-apple-stock-price-target-to-220/
Apple and Amazon Earnings In Focus This Week
July 31 2023 - 05:30AM
Finscreener.org
The S&P 500 index continued its upward surge last week, rising 0.85%. In 2023, the S&P 500 index has gained close to 20%, despite a weak macro environment. The equity markets will be impacted by a slew of Q2 earnings which will be reported over the next few days...
Investors will closely watch the earnings of tech giants such as Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) in the upcoming week.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/91683960/apple-and-amazon-earnings-in-focus-this-week
Maybe we have a future Green Mountain Coffee!
here is their history:
https://www.company-histories.com/Green-Mountain-Coffee-Inc-Company-History.html
Apple iPhone dominates with 55% share of U.S. smartphone market
Friday, July 28, 2023 10:31 am
U.S. smartphone shipments declined 24% YoY in Q2 2023, according to Counterpoint Research’s Market Monitor data. Apple iPhone dominates with 55% share of U.S. smartphone market.
This was the third consecutive quarter of YoY declines. Android smartphone shipments declined 38% while Apple shipments fell just marginally at 6% YoY. Android brands like Samsung, Motorola and TCL-Alcatel saw the steepest declines in shipments, while Apple’s shipments were more resilient. As a result, Apple’s share of shipments increased YoY.
Commenting on the decline in smartphone shipments, Research Analyst Matthew Orf said in a statement, “Consumer demand for smartphones was tepid in Q2 2023, with the summer slump in sales coming early. Despite inflation numbers falling through the quarter and ongoing strength in the job market, consumers hesitated to upgrade their devices amid market uncertainty. We expect this trend to continue through Q3 2023, but the expectations from the upcoming iPhone 15 remain bullish.”
“Despite fewer shipments from Apple compared to the same quarter last year, the brand’s share of shipments was still up 10% YoY. Apple’s resilience was driven by strong promotions across postpaid and prepaid,” Associate Research Director Hanish Bhatia said in a statement.“ Verizon, AT&T and T-Mobile continued to offer $800+ promo credits for the iPhone 14 while old-generation iPhones were also steeply discounted across prepaid. We are seeing no weakness in the overall promotional activity.”
Director of North America Research Jeff Fieldhack said in a statement, “AT&T and T-Mobile reported positive net adds, but Verizon reported negative net adds within its consumer segment for the second consecutive quarter. The net-add activity remains comparable to last year, but the upgrade rates have been lower, causing overall weakness in demand. Near-record low churn has also had a dampening effect on new device sales. Weakness is likely to continue through the start of Q3 2023, but stronger iPhone 15 demand could offset weakness across Android.”
MacDailyNews Take: Why do 45% of the U.S. suffer along with pretend iPhones? Half of the people in this world are, by definition, below average intelligence — and even the top 5% of those on the left side of the IQ bell curve, in the U.S. at least, are smart enough to get real iPhones, too!
Related
Apple iPhone surpasses Samsung to become world’s No.1 smartphone brand
Friday, February 9, 2018
In "News"
IDC: Apple’s iPhone posted 20% YOY growth in Q213
Wednesday, August 7, 2013
In "News"
Apple utterly dominates the premium smartphone market in China with 85% share
Wednesday, February 7, 2018
In "News"
https://macdailynews.com/2023/07/28/apple-iphone-dominates-with-55-share-of-u-s-smartphone-market/
2023-07-25 The date of the Sagan Tosu Fan Token Metaverse Support Summit has been decided
~August 6th (Sunday) A Metaverse space will be opened in conjunction with the match against Avispa Fukuoka~ <Scheduled for 8/4-8/8>
2023-06-21 Jasmy newly participates in the carbon credit co-creation platform "Rice Consortium" by Green Carbon Co., Ltd., which supports the global carbon neutral challenge
2023-05-30 AVITA Technologies, which has a collaborative relationship with Jasmy, announced a personal computer with "Jasmy Secure PC" as "AVITA Blockchain PC" at COMPUTEX TAIPEI in Taiwan.
2023-05-08 Jasmy Acquires New Technology Patent for Security Using Second Key
~Expansion of Implementation and Realization of Robust Security Solution by Coordination with Blockchain Service~
2023-05-08 Jasmy Exhibits at the 4th Blockchain EXPO [Spring] -Introducing
advanced utilization methods of blockchain technology for "democratization of data"-
https://www.jasmy.co.jp/
Coinbase CEO to Americans: Urge reps to vote ‘Yes’ on crypto regulatory clarity bills
EZRA REGUERRA
9 HOURS AGO
Brian Armstrong said that voting Yes to the bill would protect innovation and national security in the United States.
Coinbase CEO Brian Armstrong has urged United States citizens to take action and email their representatives to vote “Yes” on the Financial Innovation and Technology for the 21 Century Act (FIT21), which may provide regulatory clarity for crypto.
On July 26, lawmakers voted in favor of FIT21 and the Blockchain Regulatory Certainty Act. The bills are expected to deliver clarity for crypto firms, including setting the differences in jurisdiction between securities and commodities regulators in the country.
In a tweet, Armstrong said that as the voting will continue the next day, Americans have the ability to urge their representatives to vote “Yes” to FIT21. According to the Coinbase CEO, the bill would still evolve during the legislative process. However, the Coinbase CEO believes that this is a vote that would protect Americans’ digital assets, innovation and national security.
Furthermore, Coinbase said that apart from protecting consumers and strengthening national security, it also has the potential to “promote job opportunities” in the country. This suggests that U.S.-based crypto companies looking at other jurisdictions may decide to keep their businesses within the country and continue to employ local talent.
Earlier this year, various crypto companies decided to test out different areas of the world that may be a good fit amid the regulatory uncertainty in the United States. On May 8, Armstrong visited the United Arab Emirates to test its potential as a strategic hub for Coinbase. On May 26, crypto exchange Gemini picked Ireland as a headquarters for its European operations amid what industry observers dubbed a “war on crypto” happening in the United States.
Despite the difficulties in the U.S., Coinbase continued its efforts to engage with U.S. regulators throughout the year. On Feb. 13, the Coinbase CEO invited regulators to chat about crypto and get ice cream in Washington, D.C. On July 19, Armstrong reportedly met with members of Congress behind closed doors to discuss digital asset legislation.
https://cointelegraph.com/news/crypto-coinbase-ceo-to-americans-urge-reps-to-vote-yes-on-crypto-regulatory-clarity-bills
Coinbase CEO to Americans: Urge reps to vote ‘Yes’ on crypto regulatory clarity bills
EZRA REGUERRA
9 HOURS AGO
Brian Armstrong said that voting Yes to the bill would protect innovation and national security in the United States.
Coinbase CEO Brian Armstrong has urged United States citizens to take action and email their representatives to vote “Yes” on the Financial Innovation and Technology for the 21 Century Act (FIT21), which may provide regulatory clarity for crypto.
On July 26, lawmakers voted in favor of FIT21 and the Blockchain Regulatory Certainty Act. The bills are expected to deliver clarity for crypto firms, including setting the differences in jurisdiction between securities and commodities regulators in the country.
In a tweet, Armstrong said that as the voting will continue the next day, Americans have the ability to urge their representatives to vote “Yes” to FIT21. According to the Coinbase CEO, the bill would still evolve during the legislative process. However, the Coinbase CEO believes that this is a vote that would protect Americans’ digital assets, innovation and national security.
Furthermore, Coinbase said that apart from protecting consumers and strengthening national security, it also has the potential to “promote job opportunities” in the country. This suggests that U.S.-based crypto companies looking at other jurisdictions may decide to keep their businesses within the country and continue to employ local talent.
Earlier this year, various crypto companies decided to test out different areas of the world that may be a good fit amid the regulatory uncertainty in the United States. On May 8, Armstrong visited the United Arab Emirates to test its potential as a strategic hub for Coinbase. On May 26, crypto exchange Gemini picked Ireland as a headquarters for its European operations amid what industry observers dubbed a “war on crypto” happening in the United States.
Despite the difficulties in the U.S., Coinbase continued its efforts to engage with U.S. regulators throughout the year. On Feb. 13, the Coinbase CEO invited regulators to chat about crypto and get ice cream in Washington, D.C. On July 19, Armstrong reportedly met with members of Congress behind closed doors to discuss digital asset legislation.
https://cointelegraph.com/news/crypto-coinbase-ceo-to-americans-urge-reps-to-vote-yes-on-crypto-regulatory-clarity-bills
Tourists lost in Italian mountains saved by iPhone 14 Emergency SOS via satellite
Amber Neely | Jul 26, 2023
Two tourists rescued off a mountain may be the first save scored in Italy by the iPhone 14's Emergency SOS via satellite feature.
In March, Apple expanded the feature to six countries, including Australia, Belgium, Luxembourg, the Netherlands, Portugal — and fortunately for two tourists — Italy.
During an outing in the heart of the Apennine Mountains, the hikers had gotten turned around in an area without cellphone reception. Fortunately for the pair, the iPhone 14 gave them the option to call for help via a satellite text message. They were then rescued by the local fire department.
Pointed out to us by AppleInsider reader Marco, Italian venue Corriere Della Sera believes that this may well be the first example of the Emergency SOS via satellite feature being used in Italy.
In May, Apple's Emergency SOS feature played a crucial part in the rescue of 10 hikers who got lost in Santa Paula Canyon's "Last Chance" area.
In June, a hiker was able to use the feature to call for help after a trail collapsed under her, leaving her with an ankle injury.
https://appleinsider.com/articles/23/07/26/tourists-lost-in-italian-mountains-saved-by-iphone-14-emergency-sos-via-satellite?utm_medium=rss
Major Apple supplier TSMC to invest $2.9 billion in advanced chip fabrication facility in Taiwan
Tuesday, July 25, 2023 1:55 pm
Driven by a surge in demand for chips to power artificial intelligence, Taiwanese chip maker and major Apple supplier TSMC plans to invest nearly T$90 billion ($2.87 billion) in an advanced packaging facility in northern Taiwan, the company said on Tuesday. “To meet market needs, TSMC is planning to establish an advanced packaging fab in the Tongluo Science Park,” the company said in a statement.
Sarah Wu and Yimou Lee for Reuters:
CEO C.C. Wei said last week that TSMC is unable to fulfill customer demand driven by the AI boom and plans to roughly double its capacity for advanced packaging – which involves placing multiple chips into a single device, lowering the added cost of more powerful computing.
For advanced packaging, especially TSMC’s chip on wafer on substrate (CoWoS), capacity is “very tight,” Wei said after the company reported a 23% fall in second-quarter profit. “We are increasing our capacity as quickly as possible. We expect this tightening will be released next year, probably towards the end of next year.”
Even as the leading Apple supplier ramps up its expansion abroad, it plans to keep its most advanced chip technology in Taiwan, a global powerhouse in manufacturing semiconductors that power everything from smartphones to electric vehicles.
MacDailyNews Take: We can easily imagine far less risky places for TSMC to invest.
Related
TSMC says to invest additional $16 billion in advanced chip factory
Friday, February 6, 2015
In "News"
Major Apple supplier TSMC triples Arizona chip plant investment
Wednesday, December 7, 2022
In "News"
The price of getting Apple’s attention: $12 billion
Tuesday, February 17, 2015
In "News"
https://macdailynews.com/2023/07/25/major-apple-supplier-tsmc-to-invest-2-9-billion-in-advanced-chip-fabrication-facility-in-taiwan/
Morgan Stanley sees accelerated growth for Apple in September quarter
Tuesday, July 25, 2023 11:51 am
Investment bank Morgan Stanley expects Apple’s June quarter earnings to be in line with expectations, but predicts much higher growth in the September quarter.
William Gallagher for AppleInsider:
“We expect a largely in-line June Q but see 4-9% upside to Sept Q rev/EPS, driven by relative strength in iPhone, Mac, Services & Gross Margins,” the analysts tell investors in a note seen by AppleInsider. “History shows Apple outperforms by 5-10 pts after guiding the Sept Q higher, creating a positive setup into earnings next [week].”
The investment bank is maintaining its growth outlook, and says the August 3 earnings are a “positive stock catalyst that can help Apple shares re-rate towards our unchanged $220 price target.
Apple does of course launch new iPhones in September, but sales of those will mostly [a]ffect the following quarter. Nonetheless, Morgan Stanley says it remains “5-10% above Consensus in the September quarter, with upside to iPhone, Mac, Services and Gross Margins.”
The analysts say that Street estimates for the company are “conservative given secular and cyclical tailwinds.”
“Importantly, we believe this means Apple will guide to Y/Y revenue growth for the first time in 4 quarter[s],” says the report, “with the growth acceleration coming from the “right” segments — iPhone and Services.”
MacDailyNews Take: Currently, for Apple’s fiscal Q323 (June), the analysts’ consensus calls for the company to report EPS of $1.07 (vs. $1.20 YoY) on revenue of $73.33 billion (vs. $82.96 billion YoY) on Thursday, August 3, 2023 after the bell.
As always, we’ll have Apple’s results on August 3rd right around 1:30 p.m. PT / 4:30 p.m. ET. followed by live notes from Apple’s conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET.
Related
Morgan Stanley: Apple likely to outperform Sept. quarter estimates by a healthy margin
Friday, October 22, 2021
In "News"
Apple shares retake key support level, gets target price hike from Morgan Stanley
Monday, July 17, 2017
In "News"
Morgan Stanley: Apple to beat market consensus with 29-32 million iPhones shipped in June quarter
Wednesday, July 17, 2013
In "News"
https://macdailynews.com/2023/07/25/morgan-stanley-sees-accelerated-growth-for-apple-in-september-quarter/
‘Apple GPT’ is already being used by employees; may be used for AppleCare
Monday, July 24, 2023 4:40 pm
Apple is reportedly still developing its generative AI technology, but it is already being used by employees behind the scenes.
Bloomberg News‘ Mark Gurman has revealed that Apple employees are using a ChatGPT-esque AI chatbot called “Apple GPT” to prototype future features, summarize text, and answer questions based on the data it has been trained on.
Gurman also said that Apple is exploring ways to integrate its LLM into other areas of operations, such as using it to assist customers with AppleCare.
Here are some possible use cases for Apple’s generative AI technology:
• Providing customer support: Apple could use its LLM to create a chatbot that could answer customer questions and provide support. This could free up human customer service representatives to handle more complex issues.
• Generating creative content: Apple could use its LLM to generate creative content, such as poems, stories, or scripts. This could be used in a variety of applications, such as marketing campaigns or product development.
• Improving product recommendations: Apple could use its LLM to improve its product recommendations. This could be done by providing personalized recommendations based on a user’s past purchases and interests.
• Creating new features: Apple could use its LLM to create new features for its products. This could be done by using the LLM to generate ideas for new features or to test out new features before they are released to the public.
Mark Gurman for Bloomberg News:
[Apple is] now all-in on large language models (LLMs) and is working on creating a generative AI product for as early as next year. Moreover, the company has already built an internal ChatGPT-like service for employees. It helps them prototype future features, summarize text and answer questions based on data it has been trained with.
The core of this LLM work is a new framework known as Ajax. It was used to create the ChatGPT-style app, dubbed “Apple GPT” by some inside the company, and it’s likely to have many more offshoots. The LLM project is a cross-company effort spanning the software engineering, machine learning and cloud engineering organizations.
Apple hasn’t yet determined what its eventual generative AI product will be for consumers, but there a few areas where you can bet the company is looking. For one, it’s easy to imagine a major Siri upgrade to make the assistant more conversational and add the ability to handle more tasks on behalf of the user. Imagine asking Siri to write an email about an upcoming meeting rather than having to actually dictate the message.
Beyond consumer products and the internal “Apple GPT” tool, the company is already looking to push generative AI to more parts of its operations. That includes using the technology to help its AppleCare support staff assist customers. And I’m sure that’s only the beginning.
MacDailyNews Note: In May, Apple posted a number of job listings seeking generative AI talent.
Related
When ‘Apple GPT’ arrives, it will put the hurt on ChatGPT, Google’s Bard, and others
Thursday, July 20, 2023
In "News"
Apple preps ‘Apple GPT’ generative AI tool
Wednesday, July 19, 2023
In "News"
OpenAI launches free ChatGPT app for iPhone users
Thursday, May 18, 2023
In "News"
https://macdailynews.com/2023/07/24/apple-gpt-is-already-being-used-by-employees-may-be-used-for-applecare/
Apple touts tax-free Mac, iPads, and more in several U.S. states
Monday, July 24, 2023 9:50 am
Apple has announced a list of tax-free products that qualify for sales tax exemption in U.S. states with summer sales tax holidays. Some states hold annual sales tax free weekends in late summer to help parents save money on school supplies.
Eligible products include:
(check your state for exact products and price limitations)
• Mac computers
• iPad models
• Accessories (purchased with computer)
– Keyboards
– Mice
– Apple Pencil
– Speakers
– Monitors
• Printers
• Computer storage media, compact disks
• Apple and third-party software
• AppleCare (when sold with and for eligible items)
• And more
Here are the U.S. states offering sales tax holidays and their dates:
• Alabama: July 21–23
• Arkansas: August 5–6
• Florida: July 24–August 6
• Massachusetts: August 12–13
• Missouri: August 4–6
• New Jersey: August 26–September 4
• New Mexico: August 4–6
• South Carolina: August 4–6
• Tennessee: July 28–30
• West Virginia: August 4–7
MacDailyNews Note: See which products qualify in your state here.
Note that your tax savings may not appear at checkout, but will appear on your final receipt.
Related
15 U.S. states in which to buy Apple products without sales tax
Friday, August 2, 2013
In "News"
14 U.S. states in which to buy Apple products without sales tax
Wednesday, July 30, 2014
In "News"
Apple lays groundwork for first ever debt sale; one of the year’s most anticipated bond sales
Monday, April 29, 2013
In "News"
https://macdailynews.com/2023/07/24/apple-touts-tax-free-mac-ipads-and-more-in-several-u-s-states/
Morgan Stanley’s bull case puts Apple market cap over $4 trillion
Monday, July 24, 2023 11:13 am
In a new research report this past week, Morgan Stanley analyst Erik Woodring argues that India is, and will continue to be, a key growth driver for Apple. Woodring thinks that over the next five years, India will account for 15% of Apple’s revenue growth, eventually reaching 20% of its installed base of device users.
Eric J. Savitz for Barron’s:
The analyst notes that India, which recently passed China to become the most populous country on Earth, accounted for just 2% of Apple’s revenue over the past five years, with a run rate of about $6 billion. Compare that with China, which has been about 18% of Apple’s revenue over the past five years, now generating $75 billion a year in revenue.
Woodring thinks the gap is going to start to close, given both a booming Indian economy and Apple’s investments in the country. The company has opened its first stores there, added local manufacturing, and created financing options to make iPhones more affordable. The stage is set, he says, “for India to become Apple’s next growth frontier.”
According to Woodring, Apple’s revenue from India should reach $40 billion over the next decade — and by 2032, he thinks India will account for 10% of the world’s Apple users…
Based on his increasingly bullish view of Apple’s position in India, Woodring recently lifted his Apple target price to $220 from $190, with a “bull case” of $270. If that happens, Apple would blow past $4 trillion, on the way to $5 trillion.
MacDailyNews Take: Also in the Morgan Stanley note, “All-in, this means that India will be just as important to Apple’s growth algorithm over the next 5+ years as China was in the last 5 years, something we believe the market under-appreciates today.”
Related
Morgan Stanley ups Apple price target to $220 on strong India growth prospects
Monday, July 17, 2023
In "News"
Morgan Stanley: Apple stock is top pick
Monday, October 17, 2022
In "News"
Subscription services can power Apple back to $3 trillion and beyond – Morgan Stanley
Thursday, July 21, 2022
In "News"
https://macdailynews.com/2023/07/24/morgan-stanleys-bull-case-puts-apple-market-cap-over-4-trillion/
Thanks Callme RICK.
$SHIB: Shibburn Team Debunks Misconceptions About Token Burns and Shiba Inu (SHIB) Price Movement
The team behind Shibburn, the $SHIB burn tracker, recently addressed a common misconception about token burns and price movement. They explained that despite “massive” burns, the price of $SHIB may not see significant movement without continuous and substantial token purchases to match the current purchase rate.
The team clarified that the price of a token is not solely determined by burns. Even if a token burns 90% of its supply, if there’s no demand for that token, it holds no value. The key factors for price movement are supply and demand, a principle that has held true for centuries. If the demand for the token surges, and more people start buying it, the available supply reduces due to the burning process, creating scarcity. This increased demand and decreased supply can positively influence the token’s price.
The team also pointed out that the top 100 accounts (excluding the burn address) for $SHIB hold near 400T of the token’s supply, mostly by centralized exchanges. Price can still go up based on demand. If everyone holds the entire supply, and more people continue to buy, increasing the demand for the token, centralized exchanges will start looking to buy more, and the price goes higher.
The team emphasized that a token’s success doesn’t always mean reaching a specific price, like “$0.01.” Many have their own price goals and have already taken profits because today’s price was their price goal. They encouraged the community to actively participate or initiate something that contributes to the token, rather than waiting for others to take action.
The Shibburn team disagreed with those who claim that burning has no effect without understanding how it works. They likened burning to a whale buying a massive amount of the token’s supply, except this whale will never sell. Those tokens remain locked forever, which they believe will have an impact.
The team concluded by encouraging the community to not blindly believe claims like “it will take thousands of years to burn the supply and therefore it’s going nowhere” or that it needs to “burn the entire supply” for it to be successful. They reminded the community that $SHIB stands tall in the top 20 out of over 23,000 cryptocurrencies and that it’s still early days for SHIB. They believe that as long as SHIB remains active, retains community interest, and continues to be adopted, the potential for growth is limitless.
https://www.cryptoglobe.com/latest/2023/07/shib-shibburn-team-debunks-misconceptions-about-token-burns-and-shiba-inu-shib-price-movement/
interesting. Thank you Callme RICK.
Shiba Inu Secures Listing on Coinone: Potential Rise in Price
Deborah Taylor 23 July 2023
Shiba Inu (SHIB) has recently been listed on Coinone, one of South Korea’s largest crypto exchanges. The price of SHIB saw a 5% increase after Ripple (XRP) secured a partial victory in its legal battle with the US Securities and Exchange Commission (SEC). However, its value quickly dropped afterward.
As the demand for SHIB, the second-largest memecoin after Dogecoin (DOGE), continues to gain momentum, there is a possibility of a price hike in the coming days.
As for the SHIB token, it has multiple use cases within the Shibaverse ecosystem, including payment, governance, staking, and community involvement. At the time of writing, SHIB is trading at $0.00000788, with indicators suggesting potential bullish dominance in the short term.
While AI predictions should be taken with caution, it is speculated that SHIB’s value could rise to $0.00001182 within a week. However, predicting the long-term future price of SHIB, such as reaching $1 by December 2023, remains highly speculative.
In conclusion, Shiba Inu’s listing on Coinone and its exploration of the Metaverse present new opportunities for growth. The potential rise in SHIB’s price and the role of AI in the Metaverse offer interesting developments for the Shiba Inu community.
https://fagenwasanni.com/news/shiba-inu-secures-listing-on-coinone-potential-rise-in-price/73219/
Rare Apple Computer sneakers hit auction block with $50,000 minimum
Thursday, July 20, 2023 4:31 pm
Available for bid on Sotheby’s auction website, the rare custom-made Omega Sports Apple Computer sneakers in a men’s size 10.5 are on the block at a minimum price of $50,000.
Custom-made for Apple employees, these ultra-rare sneakers were a one-time giveaway at a National Sales Conference in the mid-’90s. More than 22,000 Apple consumers purchased clothing and accessories from the brand in 1985, a testament to the public’s dedication across categories. For the products outside of Apple’s zone of expertise, they would partner with leading brands such as Lamy, Honda and Braun to apply their iconic Apple branding to various white label products.
Featuring a predominately white upper, the old school rainbow Apple logo — on both the tongue and lateral quarter — is a standout detail. Having never reached the general public, this particular pair of sneakers is one of the most obscure in existence and highly coveted on the resale market.
• Omega Sports Apple Computer Sneakers
• Alternative pair of red laces included
• Style number: 8106
• New in box
Footwear News:
Available on Sotheby’s website, the rare custom-made Omega Sports Apple Computer sneakers in a men’s size 10.5 are being sold at a minimum price of $50,000.
In 1986, Apple launched a clothing line called “The Apple Collection” which was later discontinued. The exclusive line featured sweatshirts, shirts, T-shirts, tracksuits, trucker hats and accessories, including belts for men, women and kids.
MacDailyNews Take: Place your bids via Sotheby’s here.
Related
Original Apple 1 computer sells for $374,500 in auction
Friday, June 15, 2012
In "News"
Apple ’76 founding contract, signed by Steve Jobs, could fetch $150,000 at Sotheby’s auction
Monday, November 28, 2011
In "News"
Sotheby’s auctioning original Steve Jobs memo about Atari World Cup Football improvements
Saturday, May 26, 2012
In "News"
https://macdailynews.com/2023/07/20/rare-apple-computer-sneakers-hit-auction-block-with-50000-minimum/
I agree with you, that if Sony is involved, it would be a major vote of confidence for SHIB! Sony Corporation appears to be very highly respected in Japan. Previously, i had invested in what was called the Japanese Bitcoin, which if i remember correctly had 5 former executives from SONY...https://www.jasmy.co.jp/en_company.html