221.36 +0.40 (0.18%)
Pre-market: 6:16AM EDT
|Bid||221.40 x 1000|
|Ask||221.42 x 800|
|Day's range||220.37 - 223.76|
|52-week range||142.00 - 233.47|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||18.76|
|Earnings date||30 Oct 2019 - 4 Nov 2019|
|Forward dividend & yield||3.08 (1.38%)|
|1y target est||224.48|
Sep.19 -- DA Davidson senior research analyst Rishi Jaluria explains the impact President Trump's 15% tariffs on tech hardware, and why software might be the safer bet at the moment.
Netflix co-founder says competitive streaming pricing is a "great thing" as Apple TV+, Disney+ prep November launches
Thirty years ago in London, the then prime minister Margaret Thatcher ventured south of the river to a converted banana-ripening warehouse in the city’s docklands where, as if to emphasise its Britishness, fish and chips were being served in the pink sheets of this newspaper. Thatcher was at Shad Thames to open the Design Museum, an ambitious new project spearheaded by Habitat founder Terence Conran and journalist and author Stephen Bayley, which aimed to promote contemporary design in Britain. In her speech, she applauded the museum’s private sponsors, but chided Conran for not having “quite enough British things” on show.
Microsoft (MSFT) stock appears to be one of safest mega-cap tech buys out there at the moment, even at its new all-time highs. And it just raised its dividend and announced a new share buyback program.
The Dow Jones Industrial Average fell 53.44 points (or 0.2%) today, possibly because the market gave a thumbs up to yesterday's 0.25% rate cut by the Fed.
There is a time and place where stock buybacks are appropriate such as when the stock price is undervalued and there are no more productive uses for the money, but this can still be speculative.
The Fed cuts interest rates again, but what's next? Why Microsoft (MSFT) stock surged. The latest from AT&T (T) and FedEx (FDX). And why Skechers (SKX) stock is a Zacks Rank 1 (Strong Buy) right now - Free Lunch
(Bloomberg) -- Apple Inc. has been renovating its iconic store on Manhattan’s Fifth Avenue for almost three years, and when it opens to the public on Friday customers will likely notice new aesthetics, including 20-foot trees, plant walls and skylights that bring daylight into the subterranean space. But the most popular change may well be two new entrances, subtly placed on the north and south side of the store across the street from the Plaza Hotel.Easing egress is a tacit nod to complaints that Apple’s stores had become hard to shop because they’re busy and difficult to navigate thanks to the competing needs of shoppers looking to hang out, get their gadgets fixed or actually buy something. Now locals and mission shoppers can come and go without having to deal with throngs of tourists flowing through the glass cube entrance that made the store a retail landmark and one of Apple’s busiest.The company more than doubled the size of the service area, what it calls the Genius Bar. That addresses another critique -- that getting help in an Apple store can take a long time. The renovation also almost doubled the size of the space, adding rooms where customers can test out products such as the HomePod smart speaker and small businesses can get advice on how best to kit out their offices.The Fifth Avenue location’s reopening was timed to coincide with the launch of several new products, including the iPhone 11 and Apple Watch Series 5 that debut on Friday.Earlier this year, veteran Apple executive Deirdre O’Brien replaced Angela Ahrendts as retail chief. Ahrendts, who previously ran Burberry, brought a luxury world perspective to Apple and was criticized for turning the stores into branding exercises rather than places to shop and get service. O’Brien, who also runs human resources, worked on the team that opened the first Apple store in 2001.“Deirdre has a deep understanding of the stores,” a former Apple executive told Bloomberg earlier this year. “She’s just never been the face of them.”\--With assistance from Mark Gurman.To contact the reporter on this story: Matt Townsend in New York at email@example.comTo contact the editors responsible for this story: Robin Ajello at firstname.lastname@example.org, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Acknowledging a steady drumbeat of criticism from activists and a vocal group of his own employees, Amazon.com Inc. founder and Chief Executive Officer Jeff Bezos announced the formation of a new organization, the Climate Pledge, to meet the goals of the landmark Paris climate agreement 10 years early.In a joint press conference in Washington with Christiana Figueres, formerly the United Nation’s executive secretary for climate change, Bezos said Amazon will reach 80% renewable energy use by 2024 and 100% by 2030, up from 40% today. To help get there, Amazon has placed an order of 100,000 electric vehicles from a startup it has backed, Rivian Automotive Inc. The first Rivian vehicles will arrive in 2021. Bezos’s pledge came a day before more than 1,500 Amazon employees are scheduled to walk out of their offices to draw attention to what they see as the company’s inaction on climate change. The protest is part of a wider strike organized by 16-year-old climate activist Greta Thunberg ahead of next week’s United Nations Climate Action Summit.“The global strike tomorrow is totally understandable,” Bezos said. “People are passionate about this issue. By the way, they should be passionate about this issue.”The group organizing the employee walkout, Amazon Employees for Climate Change, has been pressuring Amazon for almost a year to reduce its dependence on fossil fuels and detail how it’s preparing to deal with business disruptions caused by climate change. Inside Amazon’s annual meeting in May, an employee speaking on behalf of the group asked for the opportunity to share her concerns with Bezos directly, but was denied. Shareholders voted down their proposal for Amazon to disclose a comprehensive climate change plan. The employee group on Thursday called Amazon’s pledge “a huge win.” “We’re thrilled at what workers [have] been able to achieve in less than a year,” the group said in a statement. “But we know it’s not enough.”The steps outlined in the Paris Climate Accords on their own aren’t sufficient to protect the planet, they said. “Today, we celebrate. Tomorrow, we’ll be in the streets to continue to fight for a livable future.” In February, two months after the employees went public with their campaign, Amazon promised to disclose its carbon footprint by the end of the year and pledged that half its shipments would be carbon neutral by 2030, a so-called Zero Shipment project. Amazon has argued that an e-commerce model, with delivery vehicles making numerous stops in each neighborhood, is inherently more efficient than individual shoppers taking the odd trip to the store for items like a gallon of milk. Bezos added that free next-day shipping for Prime members, which the company is in the process of rolling out, is more environmentally efficient because products can be warehoused locally, reducing travel times and bypassing the need to ship products via air.Amazon in recent years has built a team of hundreds of employees focused on sustainability issues who oversee the company's fleet of wind and solar farms and lead experiments with environmentally friendly packaging and business practices. The group also led development of Amazon’s methodology to calculate the company’s carbon footprint. But the group hadn’t committed to releasing the result of their work on greenhouse gases to the public until after Amazon employees began their advocacy campaign, according to a person familiar with the discussions.Amazon is relatively late among tech companies to share its environmental impact, experts say. Apple has released an environmental impact report with increasing levels of detail for the last decade. Google first published a comprehensive report on its energy use in 2011. “Amazon was not one of the leaders, for sure,” said Aseem Prakash, a professor of political science at the University of Washington who tracks environmental policy. “But frankly, it’s irrelevant. If Amazon is taking the right steps to transform this new industry, it’s a huge step. If they can revolutionize the trucking industry, the data center industry, the packaging industry, they are doing a great service to humanity.”Prakash said he would like to see Amazon disclose more specifics about plans to power its data centers with renewable energy. The company has also been reluctant to talk about using its influence as a massive buyer of goods to encourage green practices among manufacturers, he said.Amazon was among the hundreds of U.S. companies to sign on to a corporate commitment to meet the goals of the Paris Climate Accords when it became clear the U.S. would withdraw from the agreement.But Bezos went his own way in creating a new initiative. He recruited Figueres to co-found the Climate Pledge, which calls on companies to be net carbon neutral by 2040—a decade earlier than stipulated by the Paris accords. The pair said they would hold an annual conference for companies to share best practices for reducing their climate footprint. “Swallow the alarm clock,” she said. “We are running out of time. Science tells us we have about a minute left to get the work done we need to get done.”Amazon on Thursday also announced a $100 million donation to the Nature Conservancy to fund the Right Now Climate Fund, which engages in reforestation projects to remove carbon from the atmosphere.Bezos started the press conference by reviewing the accelerating state of climate change, which he called “dire.” But he also said he was optimistic that society can invent a solution. “When invention gets involved, when people get determined, when passion comes out, when they make strong goals, you can invent your way out of any box. That’s what we humans need to do right now.”\--With assistance from Matt Day.To contact the author of this story: Brad Stone in San Francisco at email@example.comTo contact the editor responsible for this story: Robin Ajello at firstname.lastname@example.org, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Video-streaming space gets increasingly crowded as Comcast and Facebook join the bandwagon. However, intensifying price war and fight for exclusive rights are threats.
Besides the investment of $1 billion announced on Monday, Apple (AAPL) also plans to expand its iPhone market in India by opening three retail stores.
Disney CEO Bob Iger has left Apple's board of directors as the Disney+ and Apple TV+ video services prepare to go head to head.
Codenamed Orion, Facebook's (FB) smart glasses are reportedly being designed to disrupt the smartphones market when it hits the shelves anywhere between 2023 and 2025.
Amazon's (AMZN) Amazon Music HD is likely to give tough competition to Apple, Spotify, Google and Sirius, which are also making every effort to bolster their presence in music streaming space.
(Bloomberg) -- The trade war is taking its toll on Apple Inc., a new survey of Chinese consumer attitudes shows.The company tumbled to No. 24 in an annual report on China’s top brands, falling from No. 11 a year ago. In 2017, before the trade war started, Apple was fifth in this ranking. Meanwhile, Apple’s biggest local rival, Huawei Technologies Co., climbed two spots and came in second, behind only Chinese payment service Alipay.The shuffle in the rankings is a sign of the growing challenge American brands face in the second year of Donald Trump’s tariff showdown with his Chinese counterpart, Xi Jinping. The survey findings show Chinese consumers growing cooler towards some American brands, especially after smartphone giant Huawei saw its Chief Financial Officer, Meng Wanzhou, arrested in Canada last year at the behest of the U.S. government.Trump followed with a ban on Huawei products, which helped fuel a surge of local support for the Shenzhen-based brand, according to Jay Milliken, senior partner in Hong Kong with Prophet, the San Francisco-based consultancy that conducted the survey of 13,500 Chinese consumers.Prophet’s survey, conducted annually, this year asked Chinese consumers in large cities for their views on more than 250 brands across 27 categories. Respondents evaluated brands they used or were considering using, rating rated their relevance to the lives of consumers based on qualities such as innovation, usefulness and dependability.‘Nationalistic Buying’“There’s a lot of nationalistic buying in that category, because Chinese consumers interpreted what happened to Huawei as an attack,” he said.Patriotism helped fuel the rise of other Chinese brands, too. Sportswear maker Li Ning Co. cracked the top 40 for the first time, ranked No. 34, just two spots behind market leader Nike Inc.Named after its founder, the famous gymnast, Li Ning capitalized on the nationalistic sentiments of many Chinese consumers with the launch last year of a China Li-Ning collection at New York Fashion Week that heavily used red and yellow, China’s national colors.There were only two American names in the top ten this year -- Android at No. 3 and Intel at No. 9 -- compared to five in the 2017 survey.Switching AllegiancesUnlike Apple, Android and Intel don’t have to worry about consumers switching allegiances to local competitors, Milliken said, and that explains why they manage to remain highly ranked.“Some Western brands are so integral in the lives of Chinese consumers, they’re almost predisposed to not losing relevance,” he said. “There are no Chinese alternatives so those remain super relevant.”Geopolitical tensions aren’t the only problem Apple faces in China, its biggest market after the U.S.While Beijing is pushing to make the country a leader in the introduction of high-speed 5G networks, Apple’s phones -- even the newly announced iPhone 11 -- don’t support that latest wireless standard.To contact the reporter on this story: Bruce Einhorn in Hong Kong at email@example.comTo contact the editors responsible for this story: Emma O'Brien at firstname.lastname@example.org, Bhuma Shrivastava, Rachel ChangFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google has struck 18 wind and solar energy deals across the US, Europe and Latin America, the company announced on Thursday, together comprising what it said was the “biggest corporate purchase of renewable energy in history”.
(Bloomberg) -- Shenzhen Transsion Holdings Co., a Chinese handset maker largely unknown outside of Africa, has priced its initial public offering at double the valuation of Apple Inc.Transsion, whose mobile handsets outsell iPhone and Galaxy smartphones in Africa, is going public on Shanghai’s Nasdaq-style Star Board, setting its IPO at 35.15 yuan a share, implying a trailing earnings multiple of 42.8 times, according to a filing published on Wednesday.That compares with Apple’s 18.98 times and fellow rival Samsung Electronics Co.’s 9.92 times, according to data compiled by Bloomberg. Fellow Chinese smartphone maker Xiaomi Corp. is trading at 17.8 times estimated earnings for the next four quarters.Rich valuations are nothing new on the Star market, where regulators removed an unwritten valuation cap on companies going public that has led to some eye-popping multiples. Shenzhen Chipscreen Biosciences Co. set a record on the tech board with an IPO price that represented an earnings multiple of 467.51 times.Since founding the Tecno Mobile brand in 2006, founder Zhu Zhaojiang has overseen an expansion that now claims a 48.7% market share in Africa, according to a previous filing. Transsion shipped 94.44 million mobile phones to Africa in 2018, out of a total of 124 million global shipments.The sky-high valuations on the Star market have been met by equally elevated gains. Since it launched in the middle of this year, 29 companies have listed with an average surge of around 150% from their IPO prices, according to data compiled by Bloomberg.\--With assistance from Fox Hu and Ken Wang.To contact the reporter on this story: Julia Fioretti in Hong Kong at email@example.comTo contact the editors responsible for this story: Lianting Tu at firstname.lastname@example.org, Teo Chian WeiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.