213.05 +0.59 (0.28%)
Pre-market: 6:53AM EDT
|Bid||213.35 x 1000|
|Ask||213.76 x 1000|
|Day's range||210.75 - 214.43|
|52-week range||142.00 - 233.47|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||18.04|
|Earnings date||30 Oct 2019 - 4 Nov 2019|
|Forward dividend & yield||3.08 (1.45%)|
|1y target est||223.21|
HyperChange founder and CEO, Galileo Russell explains to Yahoo Finance why he thinks Tesla is should not sell itself to another company.
German banking fintech N26 is making a big push for the U.S. market, announcing a nationwide rollout in the U.S. Thursday after a two-month beta program the company called successful.
(Bloomberg) -- Huawei Technologies Co. expects U.S. export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, as the company is banned from buying American components like semiconductors and software.China’s largest technology company is seeking ways to replace key U.S. suppliers such as Cadence Design Systems Inc. and Synopsys Inc., Deputy Chairman Eric Xu said Friday. The overall damage to the company will be a “little less” than billionaire founder Ren Zhengfei’s initial estimate, Xu added.Huawei is seeking to develop alternatives after coming under intense pressure from the Trump Administration, which has argued its technology represents a security threat. On Friday, it introduced its most powerful artificial intelligence chipset, the Ascend 910, which is poised to rival some of the best offerings from Qualcomm Inc. and Nvidia Corp. Earlier this month, it offered the first glimpse of an in-house software -- HarmonyOS -- that may someday replace Google’s Android.The company is also researching ways to replace chip-design software tools offered by Cadence and Synopsys, Xu told a news briefing in Shenzhen without elaborating. “There were no chip design tools 10 years ago, but the industry still developed chips,” said Xu, who argued that Cadence and Synopsys were not must-haves for design. “Intel started to develop chips in the 1970s, when those companies didn’t exist.”Since May, Huawei has occupied the uncomfortable position of being both an established global brand and a member of the U.S. Entity List, which bars it from trading freely with American suppliers. Despite a series of 90-day reprieves, the latest of which came this week, the uncertainty caused by American sanctions has already cost the company a great deal.Even if Huawei is eventually brought in from the cold, the impact of this summer’s upheaval will be widespread and painful. Already, it reported slower sales growth in the second quarter compared to the first as the ban started to bite, especially into a consumer business encompassing smartphones and laptops. That in turn is accelerating Huawei’s effort to become self-reliant.One area in which the Chinese company is rapidly developing in-house expertise is semiconductors, propelling Beijing’s ambitions of weaning itself off foreign chips. HiSilicon -- Huawei’s chip design subsidiary -- has been developing its capabilities for a long time, and it’s recently grown into the second largest customer (after Apple Inc.) for the world’s biggest chip manufacturing contractor Taiwan Semiconductor Manufacturing Co. Huawei has also elevated the presence of home-grown technologies throughout its product line -- from base stations to smartphones and servers -- as a key step to limiting the damage of the U.S. ban.The Ascend 910 processor unveiled Friday is a show of technological prowess. It will be used for AI model training, and Huawei says it outperforms all existing competition. Xu proclaimed that “without a doubt, it has more computing power than any other AI processor in the world.” The company also unveiled MindSpore, an AI computing framework that -- along with the 910 -- is supposedly twice as fast as Google’s TensorFlow.”The May 16 sanctions incident had no impact on the execution of Huawei’s AI strategy nor commercialization of AI products,” said Xu. “Our R&D project related to AI is building up steadily.”(Updates with Ascend’s specs from the third paragraph)To contact Bloomberg News staff for this story: Gao Yuan in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
With strong earnings as a ballast to its bold strategy, Lenovo is looking like a force to be reckoned with in the tech market.
Jennifer Bailey, vice-president of Apple Pay, speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino, California. Photograph: Tony Avelar/APApple’s flashy branded credit card comes with all the sleek, designer chic customers have come to expect from the iPhone company. Just don’t put it in your wallet.The company has warned cardholders they’ll have to take special care of the new credit card, which started its US rollout this month. Leather wallets, loose change and Levi’s jeans pose a danger, for instance. Nor should the Apple Card come into contact with other credit cards for fear of scratching the titanium card’s minimalist finish.Apple issued special instructions this week: keep away from “hard surfaces or materials”. Your leather wallet or jeans pocket “might cause permanent discoloration”. Don’t let it touch another credit card or “potentially abrasive objects” like coins or keys.The news triggered plenty of jokes online, with people offering suggestions for Apple, such as making a knitted cosy for the card or hanging the card in a “floating glass frame in a dimly lit, year round 70 degree, humidity controlled location. No flash photography please.”> "Don’t put the Apple Card in your wallet. Hang in a floating glass frame in a dimly lit, year round 70 degree, humidity controlled location. No flash photography please." https://t.co/HQXceki4Qf> > — Mac Cormier (@maccormier) August 21, 2019> Apple is definitely launching these LMAO AppleCard pic.twitter.com/6KlDOVpWuS> > — E L Z E 🇳🇬 (@LexMoniyi) August 22, 2019There’s also a two-step cleaning process for the titanium card, which comes adorned only with the holder’s laser-etched name and Apple’s logo, that involves microfiber cloths and isopropyl alcohol. A list of inappropriate cleaners includes window or household cleaners, compressed air and aerosol sprays.The Apple Card is designed primarily to be used virtually, through the iPhone, though the company is offering a physical card for use in stores that don’t accept mobile payments. Customers typically get 2% cash back when using Apple’s app to pay.“Apple Card completely rethinks everything about the credit card. It represents all the things Apple stands for. Like simplicity, transparency, and privacy,” as the company said when the card was launched. Just don’t put it in your pocket.Associated Press contributed to this story
(Bloomberg) -- Google outlined a plan to try and make surfing the web more private while still allowing enough targeted advertising to keep publishers -- and itself -- in business.Google’s suggestions include cryptographic tokens users can amass showing they are trustworthy, using artificial intelligence to show people relevant ads based on minimal information and storing personally-identifiable data on someone’s device rather than in their browser.The internet giant said it will propose the changes for debate before the organizations that set common rules for the Internet. That means Google wants the entire web to adopt the new rules, instead of just installing them on its own Chrome browser. The move shows Google is being proactive in making sure its ideas for how the web should work are the ones that win out in the future.The changes would surely improve privacy, but Google is also pushing back against privacy initiatives started by Mozilla Corp.’s Firefox and Apple Inc.’s Safari browsers that it says are too heavy-handed. Those browsers have started blocking cookies -- little bits of code that lodge in people’s browsers and follow them around the web helping advertisers place valuable, targeted ads.Google doesn’t want cookies to go away, because it says they help publishers make money from their content and keeps the web vibrant. Of course, they also help Google, which is the largest and most profitable online advertising company in the world.Changes to internet standards, the common rules that allow different websites to work on different browsers, can take years. But Google often leads the way by simply updating Chrome and forcing the rest of the web to adapt, something it can do because its browser is used by around 70% of internet users worldwide.To contact the reporter on this story: Gerrit De Vynck in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew MartinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Since August 14, Amazon (AMZN) has risen 3.4%. In the same period, the SPDR S&P; 500 ETF (SPY) has risen 3.0%. Let's see why AMZN outperformed.
On Wednesday, the Dow Jones Index's outperformance was mainly due to an increase in two of its high-weighted stocks—Boeing (BA) and Apple (AAPL).
(Bloomberg Opinion) -- On both sides of the political aisle, U.S. leaders are becoming more interested in industrial policy -- government efforts to promote the growth of certain sectors of the economy. The idea has figured prominently in Senator Elizabeth Warren’s policy proposals, blueprints for a Green New Deal and conferences on the future of conservatism. Even the International Monetary Fund, long a bastion of economic orthodoxy, recently put out a paper entitled “The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy.”This is good. But because the idea was relegated for decades to the margins of economic thinking, debates about industrial policy can still degenerate into declarations that government “can’t pick winners,” or vague references to the success of East Asian economies. To help foster a more productive conversation, here are some books and papers to get people thinking about industrial policy.No. 1. “Concrete Economics: The Hamilton Approach to Economic Growth and Policy,” by Stephen S. Cohen and Brad DeLong.This short, readable book is less about how to do industrial policy, and more about why to do it. Giving a variety of examples from U.S. history, Cohen and DeLong argue that supporting specific sectors and making specific promises is essential to gaining popular legitimacy and support for an economic policy program. People can only get behind a plan, they argue, if they have some concrete idea of how it’s going to improve their lives. Simply leaving economic development to the whims of the market, they say, will merely result in a bloated financial sector and popular disillusionment.No. 2. “Industrial Policy for the Twenty-First Century,” by Dani RodrikIn this paper, Rodrik, a Harvard University economist, offers a theory of why industrial policy works as a development strategy for poor countries. Instead of picking winning industries, Rodrik argues, successful countries subsidize exports, in order to figure out what they’re good at making. World markets act as a discovery tool, rewarding successful industries and punishing unproductive ones, and helping each country find its most efficient place in the global trading system.No. 3. “How Asia Works,” by Joe StudwellIf you want to read about the recent history of successful industrial policies, this is the place to start. Drawing on a variety of sources, Studwell presents a unified vision of an East Asian development model that made Japan, South Korea and Taiwan rich, and is now helping to propel China’s economy. Some elements of the model -- for example, redistributing farmland from landlords to tenant farmers -- are only applicable to poor countries. But Studwell’s idea of “export discipline” -- pushing companies to enter world markets and forcing the liquidation of those that fail -- could conceivably be used in rich countries as well.No. 4. “The Park Chung Hee Era: The Transformation of South Korea,” edited by Byung-Kook Kim and Ezra VogelThis collection of essays details the astonishing 16-year rule of South Korean military dictator Park Chung-hee, a period of time when real per capita income almost quadrupled. Though Park was a repressive tyrant, his economic policies brought the country out of poverty faster than any in history. Park’s approach, which included hefty amounts of state planning, large government-supported conglomerates, targeting of strategic industries and export promotion, is perhaps the purest example of modern industrial policy at work.No. 5. “Can Japan Compete?”, by Michael Porter, Hirotaka Takeuchi and Mariko SakakibaraWritten in 2000, this book offers a cautionary tale of how industrial policy can go awry, especially in developed countries. Business professors Porter, Takeuchi and Sakakibara show how Japan’s fabled Ministry of International Trade and Industry, which famously helped propel the country to the forefront of industries like auto manufacturing and machine tools, faltered in the 1980s and 1990s. In newer industries like electronics, old approaches failed, Japan lost competitiveness, and MITI’s reputation soured.No. 6. “The Entrepreneurial State: Debunking Public vs. Private Sector Myths,” by Mariana MazzucatoIn this forceful book, which has been influential in the U.K., economist Mazzucato argues that most major technological breakthroughs have a significant amount of state backing. She shows that private companies such as Apple, though venerated for their innovation, actually harvest the fruits of a far-reaching process of government-supported research and development. Mazzucato argues that popular theories about the superiority of the private sector over government are misguided, and that only the public sector can bear the expense and shoulder the risk of big long-term projects.No. 7. “Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream,” by Jonathan Gruber and Simon JohnsonEconomists Gruber and Johnson don’t just theorize about the value of industrial policy -- they lay out a concrete plan. Drawing on the lessons of World War II and the Space Race, they propose a $100 billion annual increase in research and development spending in the U.S. Cognizant of the problem of economic activity concentrating in a handful of big-city technology hubs, they propose building large new research parks in economically languishing areas with lots of local talent and good quality of life. Each hub would focus on a promising area of scientific discovery, with the government putting in research funding and commercialization assistance, and extracting a return via public land ownership. It’s a bold plan, and a good one.No. 8. “Our Towns: A 100,000-Mile Journey into the Heart of America,” by James and Deborah FallowsFlying around the U.S. in a small airplane, the two veteran writers chronicle the stories of towns that have revived themselves after the triple shock of Rust Belt decline, Chinese competition and the Great Recession. By observing the common elements, they try to extract general lessons about the kinds of local industrial policies that cities can adopt to revive themselves. The prescriptions include a revitalized downtown, strong technical education, focus on a specific industry or set of industries, and -- most importantly -- close cooperation between local government, businesses, universities and nonprofits.This reading list provides an introduction to the best modern thinking on the topic of industrial policy, but there is plenty more to read. Although the topic is understudied, there are a number of economics papers that examine individual cases of the success or failure of industrial policy, or offer theories about how it can work. There are also a number of other authors writing popular books in the area. But this reading list should provide a launching pad for anyone interested in this important and suddenly popular topic.To contact the author of this story: Noah Smith at firstname.lastname@example.orgTo contact the editor responsible for this story: James Greiff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Three years ago this month, Hollywood executive Peter Chernin and AT&T Inc. CEO Randall Stephenson shared a dinner on Martha’s Vineyard. Stephenson is still waiting for his dessert to arrive. It was the meal that sparked the idea for Stephenson, a practically lifelong member of the staid telephone industry, to enter the TV and film business by acquiring Time Warner, a then-$60 billion giant of the media world. After Stephenson struck the deal, he told Bloomberg News that it was Chernin who “first got me to appreciate the library that this company owns.” That library includes HBO, with hits like “Game of Thrones” and “Succession;” the Warner Bros. studio, which that year had an almost 17% share of the box office; and the rights to “Friends,” a sitcom that hasn’t aired fresh episodes in more than 15 years but has taken on new life as the Holy Grail of the streaming-TV market.In June of last year, 601 days after the companies agreed to merge, Time Warner officially became part of the Dallas-based wireless-phone carrier, defeating an attempt by the U.S. Justice Department to block the transaction. AT&T’s WarnerMedia division, as the Time Warner assets are now called, is seen as one of the biggest threats to Netflix Inc., though it doesn’t yet have a competing product to show for it. In fact, little more has come out of the WarnerMedia acquisition so far than reports of culture clashes, differing visions and high-profile personnel exits.According to the New York Post this week, some HBO staffers have been put off by the brusque management style of their new WarnerMedia boss John Stankey, a longtime AT&T executive. The Dallas-based C-suite is putting pressure on its Hollywood employees to ramp up HBO’s production slate as they coalesce around building a new streaming app named HBO Max, the strategy for which is still nebulous and seems to keep changing. They have a deadline to unveil the product to investors on Oct. 29. Later in the year, HBO Max will officially join the alphabet soup of video services already offered by AT&T:The subscription on-demand product sounds akin to Walt Disney Co.’s Disney+ and Apple Inc.’s Apple TV+, which are both launching within the next three months and gunning for Netflix Inc.’s subscriber base. They’re spending billions of dollars to fill out their apps with HBO-quality content. In theory, AT&T is sitting on a set of assets best suited to draw a wide streaming audience, with HBO’s high-quality programming, plus news, sports, comedy, cartoons and popular films. But merger integration issues and AT&T’s lack of experience in the content business pose major challenges.The price could also turn off subscribers. HBO Max is expected to charge a few dollars more than the stand-alone HBO Now app, which at $15 a month is higher than Netflix’s $13 monthly fee and more than double the $7 that Disney+ will charge. In fact, bundling Disney+, Hulu and ESPN+ will be just $13. The irony is that while Stephenson tries to transform AT&T into a media conglomerate, the wireless business that’s effectively been overshadowed by the merger is improving. It's the healthiest area of the company. Wireless accounted for 37% of AT&T’s revenue in the last 12 months, but it was nearly 50% of Ebitda, according to data compiled by Bloomberg. That cash flow is helping AT&T contend with a heavy debt load, which stood at $194 billion as of June. Wireless network performance has gotten better as new spectrum has been deployed, boosting AT&T’s image as the carriers transition to 5G service. Based on scoring by various outlets that track wireless connections, AT&T was able to crown itself America’s “fastest, best and most reliable network,” which are useful bragging rights for TV ads as the industry battles for customers. More important, AT&T is saving money through a public-private contract it won to build FirstNet, a network for first responders. Put simply, while AT&T’s workers climb towers to set up FirstNet, they’re also prepping its airwaves for 5G.These improvements haven’t yet reduced churn, or the rate at which customers are leaving AT&T, but that could be next should the wireless business stay on track. And if T-Mobile US Inc.’s takeover of Sprint Corp. overcomes state opposition (16 attorneys general have sued to block the deal), there will be one less competitor for AT&T and a chance to raise prices.AT&T’s DirecTV satellite business continues to shrink, with the company losing 946,000 video subscribers in the second quarter, including DirecTV Now customers who canceled in the wake of price hikes. That streaming service was recently renamed AT&T TV Now as the company moves away from the fading DirecTV brand. It also introduced a new service this week in certain markets called AT&T TV, which is a similar live-TV and on-demand app with various package options, but also involves using a streaming box where users can access other services they may subscribe to, such as Netflix. It became clear this week that AT&T TV and HBO Max together are at the center of Stephenson’s vision for the new AT&T.The idea must have seemed so sweet three years ago. But peering into the kitchen, it’s all still a bit hectic. He'll have to keep waiting for that dessert.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis 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 deals, Berkshire Hathaway Inc., media and telecommunications. 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) -- Apple Inc. is readying a clutch of new hardware for the coming weeks and months, including “Pro” iPhones, upgrades to iPads and its largest laptop in years.The Cupertino, California-based technology giant is planning to announce three new iPhones at an event next month, according to people familiar with the situation. The handsets will likely go on sale in September, contributing to fiscal fourth-quarter sales. But the real test will come in the crucial holiday season. That’s when the company is banking on a combination of new hardware, software and services to drive revenue higher, following a huge miss at the end of last year. Also coming in 2019: refreshed versions of the iPad Pro with upgraded cameras and faster chips, an entry-level iPad with a larger screen, new versions of the Apple Watch, and the first revamp to the MacBook Pro laptop in three years, the people said. Updates to key audio accessories, including AirPods and the HomePod speaker, are in the works, too, these people added. They asked not to be identified discussing private plans. An Apple spokeswoman declined to comment. Beyond these unannounced products, Apple is gearing up to launch a refreshed Mac Pro and its accompanying monitor, iPhone, iPad, Apple TV, Mac, and Apple Watch software updates, as well as its Apple TV+ video and Apple Arcade gaming subscription services.Here’s what to expect:iPhone:Apple is planning to launch three new iPhones, as it has done each year since 2017: “Pro” iPhone models to succeed the iPhone XS and iPhone XS Max as well as a successor to the iPhone XR. The main feature of the Pro iPhones will be a new camera system on the back with a third sensor for capturing ultra-wide-angle photos and videos. The extra camera will let users zoom out and capture a larger field of view. The sensors will capture three images simultaneously and use new artificial intelligence software to automatically correct the combined photo if, for example, a person is accidentally cut out of one of the shots. The new system will also take higher resolution pictures rivaling some traditional cameras. Photos taken in very low-light environments will improve, too. The high-end handsets will have significantly upgraded video recording capabilities, getting them closer to professional video cameras. Apple has developed a feature that allow users to retouch, apply effects, alter colors, reframe and crop video as it is being recorded live on the device. Another notable new feature: A reverse wireless charging system so that a user can power-up the latest AirPods in the optional wireless-charging case by leaving it on the back of the new Pro phones. This is similar to a capability that Samsung Electronics Co. rolled out for its Galaxy handsets earlier this year. The high-end iPhones will look nearly identical to the current models from the front and feature the same size screens, but at least some colors on the back will have a matte finish versus the existing glossy look. The new models should hold up better when they’re dropped due to new shatter-resistance technology. The phones will include a new multi-angle Face ID sensor that captures a wider field of view so that users can unlock the handsets more easily – even when the devices are flat on a table. Apple has dramatically enhanced water resistance for the new models, which could allow them to be submerged under water far longer than the 30-minute rating on the current iPhones. The new models will have updated OLED screens that lack the pressure-sensitive 3D Touch technology. Apple is replacing this with Haptic Touch, which essentially mirrors 3D Touch’s functionality with a long press, as it did with the iPhone XR last year. The iPhone XR’s successor will gain a second back camera for optical zoom, the ability to zoom in further without degrading quality, and enhanced portrait mode. Apple is also adding a new green version. All of the new iPhones will have faster A13 processors. There’s a new component in the chip, known internally as the “AMX” or “matrix” co-processor, to handle some math-heavy tasks, so the main chip doesn’t have to. That may help with computer vision and augmented reality, which Apple is pushing a core feature of its mobile devices. None of the new models will include 5G, but next year’s will. They’ll also have rear-facing 3-D cameras that will boost augmented reality capabilities. iPad:After launching new mid-tier iPad Air and iPad mini models earlier this year, Apple is planning to refresh the iPad Pro and its low-end iPad for schools. The 11-inch and 12.9-inch iPad Pros will get similar upgrades to the iPhones, gaining upgraded cameras and faster processors. Otherwise, the new iPads will look like the current versions. The low-end iPad’s screen will be 10.2-inches. That means Apple will likely no longer sell a new model with a 9.7-inch display, discontinuing the original display size after using it for nearly a decade. Apple Watch, AirPods, and HomePod:After revamping the Apple Watch last year with a new design and bigger screens, this year’s changes will be more muted, focusing on the watchOS 6 software update, and new case finishes. References to new ceramic and titanium models have been found in an early version of iOS 13, Apple’s latest mobile operating system. Apple is working on new AirPods that are likely to be more expensive than the current $159 model. New features will include water resistance and noise cancellation with a launch planned by next year. Apple introduced a new version of the entry-level AirPods in March with hands-free Siri support and longer battery life. Apple is also working on a cheaper HomePod for as early as next year. The current $300 model hasn’t sold very well. The new model is likely to have two tweeters (a type of loudspeaker), down from seven in the current HomePod. Mac: Apple is planning a revamped MacBook Pro with a screen over 16-inches diagonally. The bezels on the new laptop will be slimmer so the overall size of the laptop will be close to the current 15-inch models. The new laptop would mark Apple’s largest since the 17-inch MacBook Pro was discontinued in 2012. It’s part of an effort by Apple to retain and woo professional computer users. Apple is also launching the previously announced Mac Pro and 32-inch XDR Pro Display later this year. To contact the authors of this story: Mark Gurman in Los Angeles at firstname.lastname@example.orgDebby Wu in Taipei at email@example.comTo contact the editor responsible for this story: Alistair Barr at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com - U.S. futures were slightly down on Thursday as investors waited for more details on Fed policy at the central bank's three-day gathering in Jackson Hole, Wyoming.
Aug.22 -- Apple Inc. is planning to announce three new iPhones at an event next month along with an upgrade of the iPad. Bloomberg's Sarah Ponczek reports on "Bloomberg Daybreak: Americas."
Aug.21 -- Cathie Wood, Ark Investment Management chief executive officer, discusses the impact of the trade war on Apple Inc. with Bloomberg's Emily Chang on "Bloomberg Technology."