AAPL - Apple Inc.
264.75 +1.56 (0.59%)
Pre-market: 8:41AM EST
| Previous close | 266.29 |
| Open | 265.54 |
| Bid | 264.40 x 1300 |
| Ask | 264.64 x 800 |
| Day's range | 260.40 - 266.08 |
| 52-week range | 142.00 - 268.00 |
| Volume | 26,609,919 |
| Avg. volume | 25,813,040 |
| Market cap | 1.189T |
| Beta (3Y monthly) | 1.25 |
| PE ratio (TTM) | 22.14 |
| EPS (TTM) | N/A |
| Earnings date | N/A |
| Forward dividend & yield | 3.08 (1.16%) |
| Ex-dividend date | 2019-11-07 |
| 1y target est | N/A |
- Yahoo Finance
How Apple and Disney are challenging Netflix's binge-watching model
Netflix, once the disruptor on the streaming scene, has become the ultimate incumbent. Now competitors like Apple and Disney are challenging its binge-watching model.
- Reuters
Trump wants Apple to be involved in 5G infrastructure building in U.S.
"They have it all - Money, Technology, Vision & Cook!" Trump tweeted. 5G networks will offer data speeds up to 50 or 100 times faster than the current 4G networks, and serve as critical infrastructure for a range of industries.
- Zacks
PayPal Acquires Honey Science, Boosts E-commerce Presence
PayPal Holdings (PYPL) acquires a private e-commerce company, Honey Science, for approximately $4 billion.
- Zacks
Should WisdomTree U.S. LargeCap Fund (EPS) Be on Your Investing Radar?
Style Box ETF report for EPS
- Bloomberg
Disney: Streaming Hero or Supervillain?
(Bloomberg Opinion) -- The latest buzz in Hollywood is that the U.S. Justice Department wants to abolish an outdated rule known as the Paramount consent decree, which would allow studio giants to own movie theaters — something that hasn’t been permitted since the 1940s. My first thought was that it's a bit of a nothingburger. Studios like Warner Bros. and Universal probably aren’t eager to scoop up debt-laden cinema operators when their top priority is investing in streaming-TV content and services. And while mom-and-pop theaters may fear the change will breed anti-competitive behavior, that’s not as big of a concern for the big multiplex chains, nor does it signal an end to antitrust oversight. But that doesn’t mean everything is hunky-dory in the industry.Take a look at the U.S. box office this year. The content uniformity aside — four of the top seven movies descended from comic books, and the other three from cartoon franchises — most of the year’s leading films are Walt Disney Co. productions. There are more to come, with “Frozen 2” set to hits theaters on Friday, followed by the December release of “Star Wars: The Rise of Skywalker.” It has me wondering, is this healthy? Disney films account for nearly a third of the $9.5 billion of cinema tickets sold so far in 2019. Warner Bros., owned by AT&T Inc., lags far behind with a 16% share, trailed by Comcast Corp.’s Universal and Sony Corp.’s namesake distribution business; 20th Century Fox would normally be high in the ranking, too, but Disney acquired it earlier this year as part of an $85 billion deal with Rupert Murdoch.Look, I get it. Lots of people love Disney’s Marvel and animated features, and the box office is simply reflecting that. The situation is more complicated than just looking at the data and determining that the company has too much power; there’s nothing about the industry structurally that would give it an unfair advantage. Disney has just done a really good job of consistently giving fans what they want, and CEO Bob Iger made a series of smart acquisitions that continue to pay off: Pixar in 2006; Marvel in 2009; and Lucasfilm (home of “Star Wars”) in 2012. They’ve all absolutely flourished within Disney, with each bringing with it beloved franchises and story lines just waiting to be further developed and amplified for the big screen.It’s not like Warner Bros., Universal and Sony haven’t had the same opportunities. Warner Bros. has DC Comics, “Harry Potter” and “Lord of the Rings,” and the studio shares a home with HBO and “Game of Thrones.” Sony owns the rights to Spider-Man; it even had the chance to buy the entire Marvel roster in the late 1990s (for pennies compared to what Disney paid). It's hard, though, to imagine Marvel would have become what it is today had it landed at Sony instead of Disney. And that’s kind of my point.Matthew Ball, the former Amazon Studios executive, made a similar argument recently: “Disney isn’t a monopoly,” he tweeted Nov. 5. “Its competitors just need to do better. ... You make success. No one believed in comics being huge 20 years ago.”It's conceivable that Disney may end up atop the streaming world, too. Apple TV+ hasn't lived up to the hype, while AT&T’s HBO Max may suffer for its delayed arrival to the market (in May 2020). In very Comcast fashion, the cable giant isn’t so much plunging into streaming as it is dipping a toe into the waters with its Peacock app next year. And Sony’s PlayStation Vue service has already thrown in the towel. Meanwhile, Disney+ had a wildly successful launch on Nov. 12, signing up 10 million subscribers on the first day, despite widespread technological glitches and shortcomings in app functionality. Disney is also the first to experiment with bundles, a relic of the cable-TV market that I’ve argued will help ease one of the worst consumer pain points of streaming: the inability to access all your favorite content through a single subscription.But when people are rooting for Disney to be the “Netflix killer,” they’re rooting against themselves. Netflix Inc.’s innovation brought us affordable TV entertainment that didn't require a cable subscription or patience for commercial breaks. Its success forced other more complacent companies to rethink their businesses. By contrast, the box office shows what happens when a single company winds up with outsize influence.The Justice Department’s move to terminate the Paramount consent decree may not mean much (Disney wasn’t even one of the studios bound by it). But Disney doesn’t need to buy a theater anyway — it already owns the box office. Other media and tech giants should take that as a warning to step up their streaming game. Healthy competition ensures better content, more choice and further Netflix-like advances. Plus, the world needs only so many superhero flicks.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Inside Apple’s iPhone Software Shakeup After Buggy iOS 13 Debut
(Bloomberg) -- Apple Inc. is overhauling how it tests software after a swarm of bugs marred the latest iPhone and iPad operating systems, according to people familiar with the shift.Software chief Craig Federighi and lieutenants including Stacey Lysik announced the changes at a recent internal “kickoff” meeting with the company’s software developers. The new approach calls for Apple's development teams to ensure that test versions, known as “daily builds,” of future software updates disable unfinished or buggy features by default. Testers will then have the option to selectively enable those features, via a new internal process and settings menu dubbed Flags, allowing them to isolate the impact of each individual addition on the system.When the company’s iOS 13 was released alongside the iPhone 11 in September, iPhone owners and app developers were confronted with a litany of software glitches. Apps crashed or launched slowly. Cellular signal was inconsistent. There were user interface errors in apps like Messages, system-wide search issues and problems loading emails. Some new features, such as sharing file folders over iCloud and streaming music to multiple sets of AirPods, were either delayed or are still missing. This amounted to one of the most troubled and unpolished operating system updates in Apple’s history.“iOS 13 continues to destroy my morale,” Marco Arment, a well known developer, wrote on Twitter. “Same,” replied Jason Marr, co-creator of grocery list app AnyList. “Apple's really shown a lack of respect for both its developers and its customers with iOS 13.” The issues show how complex iPhones have become and how easily users can be disappointed by a company known for the smooth integration of hardware and software. Annual software updates timed for release with the latest iPhones are a critical way for Apple to add new capabilities and keep users from defecting to archrival Android. Refreshed operating systems also give developers more tools for app creation, catalyzing more revenue for Apple from its App Store. Apple spokeswoman Trudy Muller declined to comment.The new development process will help early internal iOS versions to be more usable, or “livable,” in Apple parlance. Prior to iOS 14’s development, some teams would add features every day that weren’t fully tested, while other teams would contribute changes weekly. “Daily builds were like a recipe with lots of cooks adding ingredients,” a person with knowledge of the process said. Test software got so crammed with changes at different stages of development that the devices often became difficult to use. Because of this, some “testers would go days without a livable build, so they wouldn’t really have a handle on what’s working and not working,” the person said. This defeated the main goal of the testing process as Apple engineers struggled to check how the operating system was reacting to many of the new features, leading to some of iOS 13’s problems.Apple measures and ranks the quality of its software using a scale of 1 to 100 that’s based on what’s known internally as a “white glove” test. Buggy releases might get a score in the low 60s whereas more stable software would be above 80. iOS 13 scored lower on that scale than the more polished iOS 12 that preceded it. Apple teams also assign green, yellow and red color codes to features to indicate their quality during development. A priority scale of 0 through 5, with 0 being a critical issue and 5 being minor, is used to determine the gravity of individual bugs.The new strategy is already being applied to the development of iOS 14, codenamed “Azul” internally, ahead of its debut next year. Apple has also considered delaying some iOS 14 features until 2021 — in an update called “Azul +1” internally that will likely become known as iOS 15 externally — to give the company more time to focus on performance. Still, iOS 14 is expected to rival iOS 13 in the breadth of its new capabilities, the people familiar with Apple’s plans said.The testing shift will apply to all of Apple’s operating systems, including iPadOS, watchOS, macOS and tvOS. The latest Mac computer operating system, macOS Catalina, has also manifested bugs such as incompatibility with many apps and missing messages in Mail. Some HomePod speakers, which run an iOS-based operating system, stopped working after a recent iOS 13 update, leading Apple to temporarily pull the upgrade. The latest Apple Watch and Apple TV updates, on the other hand, have gone more smoothly. Apple executives hope that the overhauled testing approach will improve the quality of the company’s software over the long term. But this isn’t the first time that Apple engineers have heard this from management.Last year, Apple delayed several iOS 12 features — including redesigns for CarPlay and the iPad home screen — specifically so it could focus on reliability and performance. At an all-hands meeting in January 2018, Federighi said the company had prioritized new features too much and should return to giving consumers the quality and stability that they wanted first.Apple then established so-called Tiger Teams to address performance issues in specific parts of iOS. The company reassigned engineers from across the software division to focus on tasks such as speeding up app launch times, improving network connectivity and boosting battery life. When iOS 12 came out in the fall of 2018, it was a stable release that required just two updates in the first two months.That success didn’t carry over to this year. The initial version of iOS 13 was so buggy that Apple has had to rush out several patches. In the first two months of iOS 13, there have been eight updates, the most since 2012 when Federighi took over Apple’s iOS software engineering group. The company is currently testing another new version, iOS 13.3, and there’s already a follow-up in the works for the spring.About a month before Apple’s 2019 Worldwide Developers Conference in June, the company’s software engineers started to realize that iOS 13, then known internally as “Yukon,” wasn’t performing as well as previous versions. Some people who worked on the project said development was a “mess.”By August, realizing that the initial iOS 13.0 set to ship with new iPhones a few weeks later wouldn’t hit quality standards, Apple engineers decided to mostly abandon that work and focus on improving iOS 13.1, the first update. Apple privately considered iOS 13.1 the “actual public release” with a quality level matching iOS 12. The company expected only die-hard Apple fans to load iOS 13.0 onto their phones.The timing of the iOS 13.1 update was moved up by a week to Sept. 24, compressing the time that iOS 13.0 was Apple’s flagship OS release. New iPhones are so tightly integrated with Apple software that it would have been technically impossible to launch the iPhone 11 with iOS 12, and since 13.1 wasn’t ready in time, Apple’s only choice was to ship with 13.0 and update everyone to 13.1 as quickly as it could.While the iOS 13 issues did upset iPhone owners, they still updated fairly quickly. As of mid-October, half of all Apple device users were running a version of iOS 13, according to Apple. That upgrade pace is still far ahead of Google’s Android.Once iOS 13.1 was released, Apple’s software engineering division pivoted to iOS 13.2 with a quality goal of being better than iOS 12. This update has had fewer complaints than its predecessors in the iOS 13 family but did introduce a short-lived bug around apps closing in the background when they shouldn’t.“iOS 13 has felt like a super-messy release, something we haven't seen this bad since iOS 8 or so,” Steve Troughton-Smith, a veteran developer of Apple apps, wrote on Twitter.To contact the author of this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.netTo contact the editor responsible for this story: Alistair Barr at abarr18@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Apple, Intel file antitrust case against SoftBank-owned firm over patent practices
Apple Inc and Intel Corp on Wednesday filed an antitrust lawsuit against Fortress Investment Group, alleging the SoftBank Group Corp unit stockpiled patents to hold up tech firms with lawsuits demanding as much as $5.1 billion. The suit follows an earlier case that Intel filed against Fortress in October. Intel withdrew that suit and on Wednesday filed a new version in the U.S. District Court for the Northern District of California with Apple joining as a plaintiff.
- Bloomberg
Goldman’s CEO Defends Apple Card, Says ‘There’s No Gender Bias’
(Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer David Solomon forcefully denied customer allegations of gender bias in setting credit limits for the Apple Card, pledging to address a social media and political uproar with more transparency when making decisions.“There’s no gender bias in our process for extending credit,” Solomon told Bloomberg TV in an interview on Thursday from the New Economy Forum in Beijing. “There’s no question that different applicants can get different results, and that can be for a variety of reasons.”Solomon’s blunt defense of the card signaled confidence in the face of demands from some U.S. lawmakers, including Democratic presidential candidate Elizabeth Warren, that the company provide more information on whether its computer models may be unintentionally cementing decades of gender bias when helping to issue the card. Tech entrepreneur David Heinemeier Hansson set off the furor with a viral tweet saying he was allowed to borrow 20 times as much as his wife, even though he has a lower credit score and they reported the same income.“We’re going to work over time to do more to deliver more transparency to our clients,” Solomon said. He praised the card, created in a partnership with Apple Inc., for giving applicants instant decisions. “We’re committed to working with Apple to improve that transparency so that it’s a unique and differentiated product.”Goldman has previously said it doesn’t take gender or marital status into account when determining creditworthiness. The bank has said it’s introducing the ability for household members to share an Apple Card credit line and that it welcomes a discussion of the topic with policy makers and regulators.The New Economy Forum is being organized by BloombergMedia Group, a division of Bloomberg LP, the parent company of Bloomberg NewsTo contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.netTo contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Investing.com
Stocks - U.S. Futures Slightly Lower as China Offers to Host Trade Talks
Investing.com - U.S. futures were down slightly as trade tensions remained in focus after reports that China has invited Washington for face-to-face talks in Beijing.
- Investing.com
Top 5 Things to Know in the Market on Thursday
1\. China talks tough on HK, underlining trade impasse
- Bloomberg
Trade War Threatens Tech Sectors in China and Silicon Valley
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. While the U.S-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley.Leading venture capitalists and startup founders expressed concern over their governments’ fierce differences and the potential fallout. Among the dangers are a decline in cross-border investment, disruption in the supply chain and decreased collaboration in fields like artificial intelligence, wireless technology and cancer research.Signs of trouble are emerging in everything from venture capital to movie-making. Fundraising for dollar-based venture capital funds in China is down 75%, estimates Qiming Venture Partners’ founding partner Gary Rieschel. Olivia Hao, an executive at Beijing-based film production startup Baozou, said it is increasingly hard to make investments or buy other companies in the U.S.“Before, people were impressed when we said we had screenwriters from Hollywood,” said Hao on Wednesday on the sidelines of the Bloomberg New Economy Forum in Beijing. “Now people say, why aren’t you using more Chinese creators.”China and the U.S. are edging closer to a trade deal but the deteriorating situation in Hong Kong and the U.S. bill on the city’s special status threaten to stall negotiations.The fight to rule the technology sector is at the heart of China-U.S. tensions. Over the last few decades, the two countries have woven together a world-spanning supply chain that helped create innovation like Apple Inc.’s iPhone and propel industries like AI and robotics.American money has flowed into China, lending the capital essential in creating many of the countries’ top technology companies like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. Chinese and American engineers have traversed both countries, driving innovation at startups and large companies alike. All of that is under the microscope now that the U.S. is clamping down on Chinese investment in the U.S. and scrutinizing the capital flows between the two countries.“Foreign capital remains the primary provider of early stage risk capital in China,” Rieschel said, adding that “82% of venture capital goes to the U.S. and China, these two countries have to work together in areas like AI.”Increasingly, American tech companies, venture capitalists and startups face a narrow choice on how to deal with China: Either take the country at face value and decide that as a rational business, profits matter more than any kind of moral high ground, or make a conscious decision to stop pursuing business in a country that will require you to adhere to its viewpoints inside -- and outside -- its borders.There are signs that Silicon Valley, which long avoided politics and courted a close relationship with China, is now starting to turn. U.S. venture capital companies and startups are refusing Chinese limited partners and investors. There are suspicions around Chinese startups in the fields of semiconductors, artificial intelligence and robotics who want to do business in the U.S., or try to attract funds from American venture capitalists.A number of Chinese startups also are souring on the view that Silicon Valley is the bastion of innovation.“Of course it will take years for China to catch up on deep tech like chips, but when it comes to areas like logistics and retail, China is moving much faster,” said Spencer Deng, founder of startup Dorabot, which is based in Shenzhen but has offices in Atlanta. “In the last three years, can you name one new innovation that came from Silicon Valley?” he said.Dorabot is working with companies like Walmart Inc. and United Parcel Service Inc. on automated technology.China is also taking steps to reduce its dependency in key areas of technology including in chips. “China’s semiconductor industry is catching up, they will be competitors in the global stage, and it provides a great place for us to invest,” said Neil Shen, managing and founding partner of Sequoia Capital China.The country’s ambition for its semiconductor industry grew in recent years as it spends more on importing chipsets than oil each year. Beijing has injected tens of billions of dollars into its young chip sector to build mega factories and attract top talent as the China attempts to reboot its economy with advanced manufacturing.Note: The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.\--With assistance from Gao Yuan.To contact Bloomberg News staff for this story: Shelly Banjo in Hong Kong at sbanjo@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Colum Murphy, James MaygerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Apple cancels premiere of film 'The Banker' after unspecified 'concerns'
"The Banker" was supposed to debut on Thursday in Hollywood at the American Film Institute's AFI Fest. "We purchased 'The Banker' earlier this year as we were moved by the film's entertaining and educational story about social change and financial literacy," Apple said in a statement. "In light of this, we are no longer premiering 'The Banker' at AFI Fest," the company said.
- The Guardian
The Banker: Apple abruptly cancels premiere of its first major film
The Banker: Apple abruptly cancels premiere of its first major film. Company says there were ‘concerns’ surrounding the film, which was scheduled to premiere Thursday
- Bloomberg
Trump’s 2020 Campaign Collides With Trade War at Apple Plant
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Donald Trump’s effort to tout U.S. economic growth collided with his trade war on Wednesday when he toured an Apple Inc. factory in Texas, where Tim Cook had the chance to plead in-person to keep Macs and iPhones free from tariffs.Trump’s visit to the Austin factory, where Apple contractor Flex Ltd. assembles some of the company’s laptops, was intended to highlight the growth in U.S. manufacturing jobs since his inauguration. Trump has made U.S. economic growth the centerpiece of his campaign for re-election in 2020.But the stop also highlighted the impact of Trump’s trade war with Beijing. The administration is currently considering whether to exempt Apple goods from a 15% tariff that took effect Sept. 1, covering about $110 billion in Chinese imports including the Apple Watch, AirPods and parts for the iPhone.“When you build in the United States you don’t have to worry about tariffs,” Trump told reporters at the plant. In response to a question, Trump said he’s “looking at” exempting Apple from U.S. tariffs entirely, saying that the company’s South Korea-based competitor Samsung Electronics Co. may otherwise enjoy an unfair advantage in the U.S.“I said some day we’re going to see Apple building plants in our country, not in China, and that’s what’s happening,” Trump said. “It’s all happening. It’s all the American dream.”In reality, this is not happening: Apple still has most of its devices assembled outside the U.S., and the company relies heavily on China-based manufacturing partners.Cultivated RelationshipCook, Apple’s CEO, has cultivated a personal relationship with both Trump and his daughter, Ivanka, who is a White House senior adviser. He’s dined twice with Trump at his Bedminster, New Jersey, golf resort, attended a state dinner for French President Emmanuel Macron and even traveled with Ivanka Trump to visit schools in Idaho. But that rapport will be tested if Trump can’t reach what he calls a “phase-one” trade deal with Chinese President Xi Jinping that would roll back U.S. tariffs.A round of tariffs set to take effect in December would be even more painful for Apple, including a 15% levy on the iPhone itself.Apple announced Wednesday that it had begun construction on a $1 billion, 3-million-square-foot campus in Austin. “Building the Mac Pro, Apple’s most powerful device ever, in Austin is both a point of pride and a testament to the enduring power of American ingenuity,” Cook said in a statement that didn’t mention Trump’s visit.The statement emphasized Apple’s U.S. footprint, saying the company relies on 9,000 suppliers in all 50 states and that it would contribute $350 billion to the domestic economy by 2023, including $30 billion in capital expenditures.Trump and Cook toured the plant largely out of sight of reporters accompanying the president. At one point, Cook and factory workers demonstrated for the president how the Mac Pro is assembled.A factory worker showed Trump a silver-colored plate for the Mac Pro that said “Assembled in the USA.”“That’s what we want,” Trump responded.Apple TariffsWhite House spokesman Judd Deere said the factory was “made possible through the president’s pro-growth and pro-business economic policies.” Treasury Secretary Steven Mnuchin and top White House economic adviser Larry Kudlow, two key figures on trade, accompanied Trump, as did senior advisers Jared Kushner and Ivanka Trump.“We’re building the Mac Pro — Apple’s most powerful computer ever — right here in Austin because we believe in the power of American innovation,” Cook said in a statement distributed by the White House.In its appeal for a waiver, Apple claims it cannot identify a manufacturing location outside China able to meet U.S. demand for the products or components that would be subject to tariffs.Apple previously received tariff waivers on 10 of 15 requested items in September. Soon afterward, the company announced it would assemble its new Mac Pro in Austin, Texas, rather than China. Apple said at the time that the decision was “made possible” by the exclusions, which included components for the Mac Pro.Cook’s LeverageThe sequence of events showed that Cook has some leverage on Trump. The president said in August that Cook personally appealed to him by arguing that tariffs would help Apple’s foreign competition.“I have a lot of respect for Tim Cook. And Tim was talking to me about tariffs. And, you know, one of the things — and he made a good case — is that Samsung is their number-one competitor, and Samsung is not paying tariffs because they’re based in South Korea,” Trump told reporters in August.Trump laid out his economic argument for re-election last week in a speech at the Economic Club of New York, highlighting his tax cuts and deregulation as key catalysts for economic growth. The U.S. added about 443,000 manufacturing jobs since January 2017, the month Trump took office, though factories have shed about 41,000 positions in the last two months.Apple had planned to move Mac Pro assembly to China after a number of problems plagued the Austin facility, including trouble retaining skilled labor. The factory produced a previous version of the computer starting in 2013.While Cook has said his company supports 2.4 million jobs in the U.S., only a small fraction are for final assembly. Earlier this decade, the company assembled a small amount of iMacs at a facility in Elk Grove, California, but it currently does not assemble any product in the U.S. outside of Texas. Apple has offices in San Diego, San Francisco, New York, Austin, Denver, Seattle, Florida, and Boston.In December 2018, the company announced plans to invest $1 billion in its existing Austin campus so that it could employ as many as 15,000 workers, according to the White House.(Updates with additional details of trip beginning in 12th paragraph)\--With assistance from Mark Gurman and Mark Niquette.To contact the reporter on this story: Jordan Fabian in Washington at jfabian6@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Joshua GalluFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Trump Says ‘Looking’ at Exemption for Apple on China Tariffs
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. U.S. President Donald Trump, touring an Apple Inc. assembly plant in Texas, said he’s “looking at” exempting the iPhone maker from tariffs on goods imported from China.Trump made the remarks Wednesday alongside Apple Chief Executive Officer Tim Cook at a Flex Inc. facility in Austin, Texas, that is manufacturing Apple’s new Mac Pro desktop computer. Trump repeated previous comments he’s made that it isn’t fair for Apple to be taxed on iPhones built in China given that South Korean rival Samsung Electronics Co. doesn’t have to pay the China import duties.“The problem we have is you have Samsung -- it’s a great company but it’s a competitor of Apple and it’s not fair if -- because we have a trade deal with Korea, we made a great trade deal with South Korea, but we have to treat Apple on a somewhat similar basis as we treat Samsung.”While Apple was spared on tariffs for the most of the components that go into the U.S.-assembled Mac Pro, the Cupertino, California-based technology giant had five other requests for duty exclusions denied. Apple has 11 requests pending with the Trump administration for tariff relief on the Apple Watch, iMac, parts for the iPhone and other components imported from China.The company is scheduled to have its iPhone, iPad, laptops, and some other products hit with import duties beginning Dec. 15.\--With assistance from Mark Niquette.To contact the reporters on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.net;Jordan Fabian in Austin, Texas at jfabian6@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Andrew Pollack, Jillian WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Trump considering whether Apple should be exempt from China tariffs
President Donald Trump said on Wednesday after touring a plant that assembles Apple Inc computers that he was considering whether to exempt the U.S. company from tariffs on imports from China. "We're looking at that," Trump said in answer to a reporter's question about the tariffs, after touring a plant in Austin, Texas, with Apple Chief Executive Tim Cook that assembles the company's Mac Pro desktop computers. Cook, who has a strong relationship with Trump, has sought relief for Apple from the U.S. tariffs, which are part of a months-long tit-for-tat trade war between the world's largest economies.
- Zacks
Everything Investors Need to Know About Disney+
Here is everything investors need to know about Disney+ in under 60 seconds...
- Zacks
Forget Dividend Growth Slowdown With These ETFs
In the third quarter, global dividends hit a record, but the annual growth has decelerated sharply, signaling that "a marked slowdown is under way."
- Zacks
The Zacks Analyst Blog Highlights: Amazon, Apple, Alphabet, Sirius XM and Spotify
The Zacks Analyst Blog Highlights: Amazon, Apple, Alphabet, Sirius XM and Spotify
- Zacks
Apple (AAPL) Unveils Latest Apple TV+ Thriller Series Servant
Apple's (AAPL) original content portfolio is further strengthened with the addition of the latest Apple TV+ thriller series Servant.
