AAPL Oct 2020 265.000 put

OPR - OPR Delayed price. Currency in USD
2.7600
-2.5900 (-48.41%)
At close: 1:45PM EDT
Stock chart is not supported by your current browser
Previous close2.8000
Open2.7600
Bid2.4400
Ask2.7400
Strike265.00
Expiry date2020-10-16
Day's range2.7600 - 2.7600
Contract rangeN/A
Volume5
Open interest684
  • Nasdaq is 'moving faster than any train we've ever seen before': veteran strategist
    Yahoo Finance

    Nasdaq is 'moving faster than any train we've ever seen before': veteran strategist

    The Nasdaq is like "a train that is moving faster than any train we've ever seen before,” says one veteran strategist.

  • The best gadgets for the beach and pool: Tech Support
    Yahoo Finance

    The best gadgets for the beach and pool: Tech Support

    Heading to the beach or pool? These are the best headphones, ereaders, and more to bring with you.

  • Bloomberg

    LinkedIn Sued for Spying on Users With Apple Device Apps

    (Bloomberg) -- Microsoft Corp.’s LinkedIn programmed its iPhone and iPad applications to divert sensitive information without users’ knowledge, according to a class-action lawsuit.The apps use Apple’s Universal Clipboard to read and siphon the data, and can draw information from other Apple devices, according to the complaint filed Friday in San Francisco federal court. The privacy violations were exposed by Apple and independent program developers, according to the suit.Developers and testers of Apple’s most recent mobile operating system, iOS 14, found LinkedIn’s application was secretly reading users’ clipboards “a lot,” according to the complaint. “Constantly, even.” Apple’s clipboard often contains sensitive information users cut or copy to paste, including photos, texts, emails or medical records.“LinkedIn has not only been spying on its users, it has been spying on their nearby computers and other devices, and it has been circumventing” Apple’s clipboard timeout, which removes the information after 120 seconds, according to the suit.LinkedIn spokesman Greg Snapper said the company is reviewing the lawsuit. Erran Berger, head of engineering at LinkedIn, said in a July 2 tweet that the company had traced the problem to a code path that performs an “equality check” between contents on the clipboard and typed text. “We don’t store or transmit the clipboard contents,” he added.The lawsuit was filed on behalf of Adam Bauer of New York City, who says he routinely used the LinkedIn App on his iPhone and iPad.The suit seeks to represent a class of users based on alleged violations of federal and California privacy laws and a breach of contract claim.LinkedIn’s information collecting was reported earlier this month by outlets including the Verge and Forbes.The case is Bauer v. LinkedIn Corp., 20-cv-04599, U.S. District Court, Northern District of California (San Francisco).(Updates with LinkedIn spokesman in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • LinkedIn sued over allegation it secretly reads Apple users' clipboard content
    Reuters

    LinkedIn sued over allegation it secretly reads Apple users' clipboard content

    According to Apple's website, Universal Clipboard allows users to copy text, images, photos, and videos on one Apple device and then paste the content onto another Apple device. According to the lawsuit filed in San Francisco federal court by Adam Bauer, LinkedIn reads the Clipboard information without notifying the user.

  • Bloomberg

    Homes Can Shelter India’s China Dream After Covid

    (Bloomberg Opinion) -- India quite literally needs to put a roof over its China dream.It took a pandemic and a lockdown to highlight the precarious existence of the country’s blue-collar workers. Left without jobs and shelter, an estimated 30 million — roughly a fifth of the urban labor force — have gone back to their villages, with many completing long, hazardous journeys on foot when trains and buses shut down.No wonder, then, that Prime Minister Narendra Modi’s government cleared a plan this week to build inexpensive rental dwellings in cities for 350,000 workers.Giving rural migrants an incentive to return is crucial to restoring economic activity to pre-Covid levels. But there’s an opportunity here to do much more. For India to industrialize, rethinking the housing situation will be as important as freeing the urban poor from large medical bills and helping them build retirement savings. If the country of 1.3 billion people wants to be a factory to the world — the next China — it must start by giving workers low-cost living quarters.India is sitting on an inventory of more than 1.3 million unsold homes. Mumbai-based property researcher Liases Foras estimates that roughly half of these units could face delays and other execution risk; prices on nearly nine out of 10 apartments may have to be cut by 5% to 15% to hook wary buyers. That’s billions of dollars in lost revenue.It may not be possible to repurpose this stock as worker accommodation. Nevertheless, as losses on pricey condominiums crystallize for struggling developers and stretched financiers, they can be made more bearable by tax breaks, cheap government land and other fiscal support for affordable rental housing — a new revenue stream. Assured of a decent rental yield, investors will be encouraged to finance this new asset class. Institutional capital will return to depressed real estate. Construction will absorb surplus manpower and create badly needed wage income. Cheap urban rents will bring India the full benefit of labor mobility, which isn’t constrained by Chinese-style hukou, or city registration requirements. Yet the rapid urbanization that turned East Asia into an exporting powerhouse and created a foundation for mass consumption has eluded the country. Young men migrate to cities for economic reasons, and return to their villages in old age. Apart from cultural factors, availability and cost of housing is the main reason why women and children stay behind, making urbanization in India both slow and rather “masculine,” as economist Chinmay Tumbe, who has studied migration trends since the 1870s, has put it.While the gender ratio of large cities is no longer as skewed as it was in the early 20th century — 500 to 600 women for 1,000 men — it’s still a lopsided 868 in Delhi. For Surat, a major diamond-cutting and textile center on India’s western coast, the ratio is even more unbalanced at 756. Surat is still an exception in that it has a lot of manufacturing. A peculiar facet of rural-urban migration in India, according to Tumbe, is that most of the workers end up in service-industry jobs. Creaky infrastructure, infuriating red tape, occasionally overvalued currency and lack of meaningful free-trade arrangements have held back the share of manufacturing in the economy to 16% — a modest rise from 5% in 1901. Back then, British colonialists had kept India under-industrialized so they could sell their wares in a market that produced little of its own. Now, it’s a small urban elite — whose own ancestors left villages a long time ago — that’s keeping new migrants employed as chauffeurs, housemaids, condominium security and ATM guards.The economy is geared to satisfy the top 150 million earners, as Rathin Roy, until recently the director at the New Delhi-based National Institute of Public Finance and Policy, has argued. This depresses the wages that would be generated by becoming good at making what the next 300 million want. In the absence of broad-based income growth, consumers boosted spending by borrowing. When they eventually started to deleverage last year, India faced an acute demand funk, even for 7-cent munchies.Since then, Covid-19 hasn’t been the only wake-up call. Rapidly deteriorating U.S.-China relations portend sweeping changes in global supply chains, but even in its own neighborhood, India isn’t competitive in manufacturing. A once-in-a-generation opportunity could slip out of its grasp. At a furniture store in Ho Chi Minh City some years ago, I saw colorful satin-upholstered sofas whose sides were drab black polyester. This, I was told, was because the sides would take dirt from motorbike tires and must be easy to clean: A Vietnamese family would park the two-wheeler, its most precious possession, next to the living-room furniture to keep it safe at night. Societies that value and make things that workers themselves use lift living standards and labor productivity. No wonder Vietnam, now a hub for Samsung Electronics Co., is winning investments from Inventec Corp., Apple Inc.’s main assembly partner for AirPods, as well as Hon Hai Precision Industry Co., better known as Foxconn.India must also make more shoes, clothes and toys. To create a permanent urban workforce that will both produce and consume those wage goods, it should also build millions of new homes.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Exclusive - Apple supplier Foxconn to invest $1 billion in India: sources
    Reuters

    Exclusive - Apple supplier Foxconn to invest $1 billion in India: sources

    Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said. The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis. "There's a strong request from Apple to its clients to move part of the iPhone production out of China," one of the sources with direct knowledge of the matter told Reuters.

  • Reuters

    Exclusive: Apple supplier Foxconn to invest $1 billion in India - sources

    Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said. The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis. "There's a strong request from Apple to its clients to move part of the iPhone production out of China," one of the sources with direct knowledge of the matter told Reuters.

  • Why Apple (AAPL) Could Beat Earnings Estimates Again
    Zacks

    Why Apple (AAPL) Could Beat Earnings Estimates Again

    Apple (AAPL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • Apple (AAPL) to Support Thunderbolt on Future ARM-Based Macs
    Zacks

    Apple (AAPL) to Support Thunderbolt on Future ARM-Based Macs

    Apple (AAPL) set to support Intel's Thunderbolt USB-C connectivity standard on new Apple silicon computers, despite the lack of Intel processors.

  • TSMC Sales Shine After Virus Drives Demand for Datacenter Chips
    Bloomberg

    TSMC Sales Shine After Virus Drives Demand for Datacenter Chips

    (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. posted monthly revenue that suggested June-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the pandemic and U.S. curbs on No. 2 customer Huawei Technologies Co.Apple Inc.’s main iPhone chipmaker reported sales of NT$120.88 billion ($4.1 billion) for June on Friday. That likely means TSMC’s revenue grew about 29% to NT$310.7 billion last quarter, based on previously reported figures, beating the NT$308.8 billion analysts expect on average.TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its 2020 revenue outlook to reflect potentially the biggest global economic crisis since the Great Depression. But it said at the time it still expects robust demand for the semiconductors in datacenters hosting an unprecedented surge in online activity during the pandemic. Executives forecast revenue growth of about 30% in the June quarter while sticking to a goal of $15 billion to $16 billion for capital spending in 2020, up from last year’s $14.9 billion.What Bloomberg Intelligence SaysSales of Asian contract chipmakers TSMC, SMIC and others may beat consensus in 2H despite the longer-than-expected Covid-19 pandemic, due to rising semiconductor demand for cloud processing and video conferencing amid social-distancing requirements.\- Charles Shum, analystClick here for the research.In the longer term, the chipmaker will still have to contend with uncertainty as Covid-19 spreads across the globe, particularly as signs emerge of a second wave. TSMC however is considered relatively more resistant to a downturn thanks to a commanding position in the production of high-end chips needed for everything from datacenters and gaming to video streaming.It’s also the primary producer of cutting-edge chips for Huawei, but the Trump administration’s ban on the use of American chipmaking gear for the Chinese company threaten a business relationship that accounts for about 14% of TSMC’s revenue.Read more: Huawei Sees Dire Threat to Future From Latest Trump SalvoFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Teens Try To Trick Trump Campaign, Again
    Bloomberg

    TikTok Teens Try To Trick Trump Campaign, Again

    (Bloomberg) -- The TikTok-tivists are at it again.Thousands of users of the popular video app flocked to the Apple App Store in the last few days to flood U.S. President Donald Trump’s 2020 campaign app with negative reviews. On Wednesday alone 700 negative reviews were left on the Official Trump 2020 app and 26 positive ones, according to tracking firm Sensor Tower.TikTok fans are retaliating for Trump’s threats to ban the app, which is owned by China’s Bytedance Ltd. and is hugely popular in the U.S., especially among teens. The thought of taking away a key social and entertainment hub in the midst of the Covid-19 pandemic has led to outrage.“For Gen Z and Millennials, TikTok is our clubhouse and Trump threatened it,” said Yori Blacc, a 19-year-old TikTok user in California who joined in the app protest. “If you’re going to mess with us, we will mess with you.”Blacc said the movement gained steam Wednesday when a popular TikTok user, DeJuan Booker, called on his 750,000 followers to seek revenge. He posted a step-by-step primer on how to degrade the app’s rating, notching 5.6 million views. “Gen Z don’t go down without a fight,” said Booker, who goes by @unusualbeing on TikTok. “Let’s go to war.”The Trump campaign said the effort hasn’t had any impact.“TikTok users don’t affect anything we do. What we do know is that the Chinese use TikTok to spy on its users,” said Tim Murtaugh, director of communications for the Trump Campaign. ByteDance has always denied such accusationsThe efforts to push the app low enough so that Apple will remove it from the app store may be misguided. Apple doesn’t delete apps based on their popularity. The App Store may review those that violate its guidelines or are outdated, but not if their ratings sink. A similar tactic was tried in April to protest Google Classroom by kids frustrated with quarantine home-schooling.But young people are looking for ways to make their voices heard, even if some of them can’t yet vote. Last month, many young people organized through TikTok to sign up to attend Trump’s first post-shutdown campaign rally in Tulsa, Oklahoma, but then didn’t show up. The Trump campaign denied the online organizing effort contributed to lower-than-expected attendance.Nearly 60% of Gen Zers are opposed to a TikTok ban, according to a survey conducted from Tuesday to Thursday of 2,200 adults by Morning Consult Brand Intelligence. Across all ages, about a third of Americans have never heard of TikTok, while a third have a favorable impression and a third have an unfavorable view of the app, the survey found.Apple didn’t immediately respond to a request for comment. TikTok experienced connectivity issues on Thursday, according to Downdector, which measures web traffic, but the company said it had resolved them later the same day.Trump’s re-election smartphone app is a big part of the president’s unrivaled digital operation and was meant to circumvent tech companies like Facebook Inc. and Twitter Inc. and give the campaign a direct line to supporters. The app has helped the campaign engage Trump’s die-hard supporters, especially in the midst of the coronavirus pandemic, by feeding them his latest tweets and promoting virtual events. Supporters can donate to the president’s campaign or earn rewards for recruiting friends like VIP seats to rallies or photos with the president.The Official Trump 2020 app has been downloaded more than 500,000 times on Google’s Android store as of June 15. Apple doesn’t publish information on downloads.Reviews with titles such as “Terrible App” or “Do Not Download!” have been flooding the App Store since late June. Official Trump 2020 now has more than 103,000 one-star reviews for an overall rating of 1.2.But the uptick of activity has also caused the app to rise in rankings. Users have to download the app to review it, vaulting it to second place on the Apple store from No. 486 on Tuesday, according to Sensor Tower.“Do I think that this is going to fundamentally change the election? No,” said Tim Lim, a veteran Democratic digital strategist. “But it goes to show that they are just as susceptible to these mass actions as anyone else. Trump is starting to see what it feels like to have a massive online army committed to defeating him.”Trump earlier this week said his administration is considering banning TikTok as one way to retaliate against China over its handling of the coronavirus. Trump’s comments came after Secretary of State Michael Pompeo told Americans not to download the app unless they want to see their private information fall into “the hands of the Chinese Communist Party.” Bytedance is also facing a U.S. national security review for its acquisition of startup Musical.ly. It has denied allegations that it poses a threat to U.S. national security.Trump didn’t offer specifics about a potential decision and Pompeo seemed to walk back the idea of a ban in a later statement, saying that the U.S. efforts to protect American consumers’ data don’t relate to any one particular company.Many TikTok users say they care less about potential Chinese snooping and more about Trump taking away their digital hangout. In the U.S., TikTok has been downloaded more than 165 million times, according to Sensor Tower.“I don’t believe Trump is trying to take TikTok away because of national security, but more to retaliate against activism on the app and all the videos about him that drag him through the mud,” said Darius Jackson, an 18-year-old TikTok user in Champaign, Illinois, who asked his followers Wednesday to give Trump’s app a one-star rating.“This is the first year I’ll be able to vote and I think activism on TikTok is going to make a big difference,” Jackson said.(Updates with Trump campaign response from sixth paragraph. A previous version of the story corrected the spelling of the Illinois city in the penultimate paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Global PC Sales Climb on Rebounding Supply Chains, Rising Demand
    Bloomberg

    Global PC Sales Climb on Rebounding Supply Chains, Rising Demand

    (Bloomberg) -- Global personal computer shipments climbed in the second quarter, when vendors patched supply-chain issues and consumer demand for laptops surged with more people forced to work from home.PC makers shipped 2.8% more devices in the three-month period compared with a year earlier, for a total of 64.8 million units, according to preliminary data released Thursday by researcher Gartner Inc. Rival industry analyst IDC pegged the year-over-year increase at 11%. Both firms said the increase was fueled by particularly strong growth in Europe and the U.S.Major PC makers endured supply chain breakdowns during the first few months of 2020, when the coronavirus pandemic ground some manufacturing to a halt in the Asia-Pacific region, which produces key computer components. Vendors had little stock for some products while also facing stronger demand as billions of people around the world fled their offices to minimize the spread of Covid-19.“The strong demand driven by work-from-home as well as e-learning needs has surpassed previous expectations and has once again put the PC at the center of consumers’ tech portfolio,” Jitesh Ubrani, a research manager at IDC, said in a statement.HP Inc. and China’s Lenovo Group Ltd. each held about 25% of the global market. Gartner put Lenovo barely ahead while IDC had Palo Alto, California-based HP as No. 1 for the quarter. Dell Technologies Inc. and Apple Inc. rounded out the top four on both lists.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Runup in Tech Mega-Caps Sows Doubt Before Key Earnings
    Bloomberg

    Runup in Tech Mega-Caps Sows Doubt Before Key Earnings

    (Bloomberg) -- Some of Wall Street’s biggest stocks are coming off their best quarterly performance in years, and with the broader economy still grappling with the pandemic, analysts are starting to express some skepticism about high-profile rallies.The S&P 500 surged 20% in the second quarter, its biggest quarterly gain since 1998. While the superlative nature of the rally was partly a function of timing -- many components hit a bottom right before the end of the first quarter -- the move was fueled by tech and internet stocks, which outperformed the benchmark and have heavy weightings due to their massive market capitalizations.Apple and Amazon.com both gained more than 40% during the quarter, making it the iPhone maker’s best quarter since 2012 and Amazon’s best since 2010.On Wednesday, Deutsche Bank confessed it was “surprised at both the speed and magnitude of the rebound” in Apple shares, adding that the move “has us nervous.” Raymond James echoed this tone on Tuesday, seeing uncertainty surrounding Apple’s forecast given an expected delay in the iPhone 12, a product Nomura Instinet expects “will fall short of a supercycle.” Both Deutsche Bank and Raymond James still recommend buying Apple shares.Amazon remains a consensus favorite on Wall Street -- more than 90% of the firms tracked by Bloomberg recommend buying it -- but the degree to which the share price exceeds analysts’ average price target is near a multiyear high, suggesting that even bulls aren’t expecting much additional upside.Among other mega-cap names, Microsoft rose 29% over the second quarter, its best such showing since 2009. Both Facebook and Google-parent Alphabet notched their biggest quarterly gain since 2013, with Facebook up 36% and Alphabet up 22%, based on its Class A shares. Netflix rose 21% last quarter.All are at or near record levels, and the rallies will soon be tested as each member of the group is scheduled to post quarterly results before the end of the month, with Netflix reporting next week.Apple EstimatesFor Apple, the rally has come despite a more tepid view for its upcoming results. Wall Street expects third-quarter earnings, excluding some items, of $2.03 a share, a consensus that is down 6.8% from where it was three months ago. The consensus for revenue has declined 0.9% over the same period.While analysts debate whether the results will justify the recent gains, many of these names are seen as potential pandemic winners. Microsoft is expected to see stronger demand for its cloud-computing and workplace collaboration products as people continue to work remotely, while the e-commerce wave lifting Amazon and others is seen as outlasting the coronavirus’s impact on brick-and-mortar stores.Apple analysts also see a number of reasons to be optimistic for the long term, including the company’s services business, wearable products, and its stock-buyback program. “Overall, we believe the directionality and reasoning behind AAPL’s stock rise,” Deutsche Bank’s Jeriel Ong wrote. Still, the firm has “ambivalence at these levels.”Firms expressed a similar sentiment about Netflix, which has seen higher engagement during the pandemic. Rosenblatt Securities “struggle[s] to see the upside” from current levels given “uncertainty over how [long] this favorable environment will last.” Stifel continues “to grapple with the risk/reward profile given limited 2H visibility.”Imperial Capital downgraded the stock earlier this week, moving away from an outperform rating that it had held since starting coverage on Netflix about two years ago, according to data compiled by Bloomberg. Following the recent advance, Netflix “will begin a fairly extensive range-bound trend as other long opportunities emerge in the media space,” the firm said.(Removes reference to Microsoft reporting next week in seventh paragraph of story originally published July 8.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Stock market news live updates: Stocks mostly lower after Nasdaq sets record high
    Yahoo Finance

    Stock market news live updates: Stocks mostly lower after Nasdaq sets record high

    Stocks abruptly turned negative Thursday as fears over the economic outlook following an increase in coronavirus cases resurged. The Dow and S&P 500 wiped out their week to date gains.

  • Apple expands its free coding courses and materials for educators
    TechCrunch

    Apple expands its free coding courses and materials for educators

    Apple today announced its plans for a new, free resource aimed at helping educators of all skill levels gain the ability to teach both Swift and Xcode -- the latest in Apple's educational initiatives focused on encouraging more students to learn app development. On July 13, Apple will begin offering free online training to educators that will serve as an introduction to its Develop in Swift curriculum. This curriculum has also been completely redesigned to meet students learning styles, based on user feedback, says Apple.

  • Apple rolls out free online coding course for teachers
    Reuters

    Apple rolls out free online coding course for teachers

    The Cupertino, California-based company, which offers coding courses under the "Develop in Swift" and "Everyone Can Code" banners, said the new course is designed to supplement the need for computer science educators in the United States. The new course will help instructors build foundational knowledge to enable them to teach app development with Apple's open source programming language Swift. "Everyone Can Code" courses are aimed at beginners, while its "Develop in Swift" programs focus on advanced coders.

  • Nokia launches data centre networking tools, developed with Apple
    Reuters

    Nokia launches data centre networking tools, developed with Apple

    As the usage of 5G networks expands, vast quantities of data will be generated as more household appliances and other machines are linked up with sensors and artificial intelligence tools, creating the so-called "internet-of-things". Nokia, which competes against China's Huawei and Sweden's Ericsson to build 5G networks, has been broadening its portfolio by adding open interfaces to its 5G equipment and launching new networking products.

  • Apple’s UK stores paid £6.2m in tax despite £1.4bn in sales
    Yahoo Finance UK

    Apple’s UK stores paid £6.2m in tax despite £1.4bn in sales

    Revenue at Apple Retail UK, which operates 38 of the company’s stores in the, rose by more than 15%.

  • All Those Empty Stores Set Up Retail’s Comeback
    Bloomberg

    All Those Empty Stores Set Up Retail’s Comeback

    (Bloomberg Opinion) -- Once again, we're hearing the familiar predictions of the demise of retail as the pandemic brings on a deluge of  store closings, especially for those businesses with too much debt and goods that have fallen out of fashion. As long as the U.S. is running at less than full speed because of the coronavirus -- and perhaps for some time after -- it may be difficult for landlords to fill newly vacant spaces. But long-term trends in retail, hospitality and commercial real estate suggest that in economically stable communities, those spaces should eventually be occupied. It's even possible that the 2020s will accelerate the trend of successful e-tailers expanding into physical locations.The  rise in store closures -- one analysis said as many as 100,000 brick-and-mortar locations could shut by 2025 -- are the easy part to think about. Apparel company Brooks Brothers is the latest, filing for bankruptcy yesterday, while Lucky Brand Jeans filed last week. Both have closed stores and struggled with falling sales. Changes in buying patterns brought about by e-commerce along with heavy debt loads have led to the demise of countless retailers during the past decade. Clusters of bankruptcies then bring about concerned articles about the state of the retail industry -- here's one from 2009 after the bankruptcies of Circuit City, Linens 'n Things and Sharper Image. It's natural that this crisis would be seen as another moment of reckoning for retail and the commercial real estate that relies so much on it.But it's important to note that coming into this crisis there's no evidence that physical retail is an industry on death's door or even in secular decline. Retail sales -- after stripping out restaurants and non-store retailers, which includes e-commerce -- have grown modestly for a decade. Total retail employment by 2015 had recovered all of the losses inflicted by the Great Recession and has been largely steady since then, even with all the headlines of stores closing and the proliferation of self-checkout registers. Even as some categories such as electronics and apparel have struggled, others such as health and personal-care retail has continued to grow.Dining and entertainment, which might be considered as experiential retail, has done even better. As a share of total employment, leisure and hospitality jobs have grown for decades despite shifting trends in consumption and technology. Maybe something changed forever with the pandemic, but it seems premature to make that claim.Where retail has struggled most has been in communities with dwindling population and shrinking economic bases. There's nothing magical here -- communities that lose jobs and people lose retail as well, e-commerce or no e-commerce.E-commerce will likely see rapid growth this year because of the pandemic, but for the most part the shift from physical to online retail is happening slowly enough that there's enough time for the adjustment to occur without being too disruptive. It's taken 17 years for e-commerce's market share to grow from 1.8% to 11.8%. And a lot of the retailers that have gone out of business in that period had glaring weaknesses -- Sears and Toys R Us probably were doomed no matter the strength of the economy. But compare them with Nike, Apple and Lululemon, which seem unlikely to close many of their stores.It's also possible that the 2020s will see shifts that benefits physical retail at large, even if that's not necessarily good news for some struggling physical retailers. During the 2010s,  lots of stagnant, over-indebted physical retailers closed or went bankrupt while  e-commerce took off. But the growth of e-commerce also brought with it rising costs -- for online ads, for warehouse space, and for shipping and delivery costs. In other words, e-commerce's cost advantage may have been temporary.If the cost advantage disappears, e-commerce growth might slow. But turning to physical stores could be a great way for online brands to start letting consumers interact with and experience their brands directly. Store fronts can also be a great way to pick up profitable sales and act as a distribution and return hubs. A temporary glut of vacant storefronts because of the pandemic may be seen in hindsight as a once-in-a-generation opportunity to pick up quality real estate. This doesn't necessarily mean Macy's will see a resurgence, but it might mean that there will be more Amazon and Wayfair physical locations a decade from now.Between the restrictions on in-person shopping amid the pandemic and the spending cuts retailers are making now, it might take a few quarters for this transformation to become more apparent. But as public-health and economic conditions improve, the next land grab for e-commerce winners might be the vacant storefronts left behind by the physical retailers they've conquered.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Conor Sen is a Bloomberg Opinion columnist. He has been a contributor to the Atlantic and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Says a Quarter of Videos Removed Involve Misbehaving Kids
    Bloomberg

    TikTok Says a Quarter of Videos Removed Involve Misbehaving Kids

    (Bloomberg) -- Almost a quarter of the videos TikTok took down in 2019’s second half involved inappropriate behavior by minors, from illegal drug use to sexual activity.The Chinese-owned social video service said 24.8% of the clips removed were “depicting harmful, dangerous, or illegal behavior by minors, like alcohol or drug use, as well as more serious content we take immediate action to remove.” Another 15.6% “violated our suicide, self-harm, and dangerous acts policy,” TikTok said in its second transparency report.TikTok -- which has insisted it operates independently of Beijing despite its Chinese ownership -- has come under fire in the U.S. and India for the way it polices content on a platform used by more than a billion people. Parent ByteDance Ltd. has been accused of censoring content that may anger the Chinese government, even as scrutiny grows about its control over the personal information of youths.The report made no mention of requests related to China, where ByteDance is based but TikTok doesn’t operate. A company spokesperson said it also didn’t receive a single data request in the second half from Hong Kong, a market it’s abandoned after Beijing passed a controversial law to grant police sweeping powers over online content. This week, U.S. internet giants from Facebook Inc. to Google said they will stop processing data requests from the city’s government, signaling their opposition to the legislation. TikTok was no longer available on Apple’s and Google’s Hong Kong app stores as of Thursday.Read more: TikTok Pulling Out of Hong Kong After China Law ControversyThe video sharing app said it removed more than 49 million clips overall, according to its report on enforcement of content policy and government takedown requests. Of those removed videos, more than 16 million originated in India, a small portion of which came down after government request. TikTok said that of the total videos removed, its systems proactively caught and removed 98.2% before a user reported them, while 89.4% were taken down before they got any views.The disclosure from TikTok comes in the same week as reports that the Federal Trade Commission and the U.S. Department of Justice have started to inquire about the company’s data practices -- specifically accusations that the app collected data on users under the age of 13. A prior iteration of the app paid $5.7 million in 2019 to settle similar claims by the FTC.“TikTok takes the issue of safety seriously for all our users,” a spokesperson said this week, “and we continue to further strengthen our safeguards and introduce new measures to protect young people on the app.” He declined to comment on whether the FTC or DOJ had approached TikTok about an investigation.Read more: TikTok Owner’s Profit Said to Hit $3 Billion as Sales DoubleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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