|Bid||211.19 x 800|
|Ask||211.18 x 900|
|Day's range||210.10 - 212.73|
|52-week range||142.00 - 233.47|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||17.93|
|Earnings date||30 Oct 2019 - 4 Nov 2019|
|Forward dividend & yield||3.08 (1.49%)|
|1y target est||223.03|
Apple's CEO met with President Trump to discuss the ongoing trade war. While the company is concerned it will be hit by tariffs, there's little it can do in the long run.
Aug.19 -- Apple Inc. Chief Executive Officer Tim Cook shared his concerns with President Donald Trump about Samsung Electronics gaining an edge due to impending tariffs on products imported to the United States. Bloomberg's Derek Wallbank reports on "Bloomberg Surveillance."
On Friday night, the president once again tweeted about Apple . “Having dinner tonight with Tim Cook of Apple,” he wrote in advance of the meeting. The pair had dinner at Trump’s golf club in Bedminster, N.J. On Sunday, the president offered a debrief of the meeting after 10 days at the club, telling a small gathering of reporters, “I had a very good meeting with Tim Cook […] Tim was talking to me about tariffs, and one of the things, 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.
Disney+ will have an international launch that begins at the same time as its rollout in the U.S., Disney revealed. The company will be launching its digital streaming service on November 12 in Canada and The Netherlands on November 12, and will be available in Australia and New Zealand the following week. The streaming service will also support virtually every device and operating system from day one.
Life as a public company has so far been a rocky one for the audio streaming platform. Since directly listing on the NYSE in April 2018 at $165.90 a share, the stock has had its ups and downs, and is now sitting more than 10% below its opening price.
Apple shares rose close to 3% in early hour trading on Monday. So, why is Apple stock trading higher? The market sentiment might have turned positive.
President Trump finally seems to acknowledge how the US-China trade war could impact tech giant Apple. Trump met with Apple CEO Tim Cook at a dinner.
Investing.com -- U.S. stocks surged at the start of the new week, with the Dow Jones rising nearly 300 points as the federal government signaled more soft-pedaling on the trade war with China for the time being.
(Bloomberg) -- Somewhere between Spotify crashing and Alexa failing to locate his favorite sushi place, Rafael Rivera decided he was dealing with an unfinished product.The software developer’s rectangular Echo Auto, perched on the dashboard of his 2005 Mini Cooper, picked up his voice seamlessly over blaring music or air conditioning. But repeated restarts and clunky mapping made the on-the-go hub for Amazon.com Inc.’s Alexa less useful.“Am I part of a beta program?” he recalls thinking. “Is this thing done?”Introduced almost a year ago and shipped to the first invited customers in January, the sometimes-buggy Echo Auto is the most visible element so far of Amazon’s ambition to take Alexa on the road.Behind the scenes, the company is trying to persuade automakers to bake the voice-activated digital assistant into their entertainment systems. Those efforts are gaining some traction—BMW and Audi earlier this year began selling select models that integrate Alexa’s software by default. But Amazon is entering a market already contested by Google and Apple Inc., not to mention automakers leery of ceding control of the dashboard to Big Tech.While colonizing the car probably won’t generate much in the way of revenue at first, just being there would help Amazon position itself for a coming era of voice-based services. “Amazon wants to get into the car in a big way,” says Mike Ramsey, a senior research director at Gartner who tracks the auto industry. “They sense that there is a big opportunity.”Amazon declined to make anyone available to discuss the program, but a spokesman pointed to comments Ned Curic, vice president of Alexa Automotive, made last month to the Automotive News: “The real North Star for us is to be embedded with all the cars,” Curic said. “We’re working very hard to get there because we believe that is the best experience.”The company has said it wants to make Alexa, its hub for trivia, music and Amazon products, ubiquitous. The company built teams in recent years charged with making the software useful beyond the living room, seeking ties to home automation and security companies, building out voice and video calling functionality and even exploring wearable devices and home robots.The first tie between Alexa and an automaker was, like many Amazon efforts, an experiment. In 2016, Hyundai Motor Co. rolled out the first application linking Alexa to a big carmaker in a tool that let owners of some models start their vehicle or set the climate control from an Alexa device.Amazon formalized its push a year later, hiring Curic, an executive with Toyota Motor Corp.’s North American subsidiary, to run the automotive efforts. Curic’s team plucked staff from Lab126, the San Francisco Bay Area hardware division behind the Echo speaker, and Amazon Web Services, the company’s cloud-computing arm. Amazon also went shopping for recruits who knew their way around the industry, seeking veterans of German stalwarts like Daimler AG, BMW and Volkswagen, companies that have been among the most aggressive in exploring voice software.Hanging over the exercise to take Alexa on the road is Amazon’s failure to build a smartphone to rival Alphabet Inc.’s Google and Apple. About 62% of people who use their voice to control music or other applications in their car today do so through a smartphone, a market dominated by Google and Apple, according to a survey by voice technology news site Voicebot and dashboard entertainment startup Drivetime. Another 32% opt for the software included in their car’s entertainment system while 6% use different technology, including the Echo Auto.“Amazon’s Achilles heel is not having a play on the phone,” says John Foster, chief executive of Aiqudo Inc. a startup working to tailor mobile applications for voice control. “They’re going at it the best way they can. But I do think they suffer from this disadvantage that Google is really starting to make clear.”Google, the company behind Android, the world’s most popular operating system, has gotten automakers on board, building ties that could be used to hook drivers into Google's Assistant, Alexa's biggest rival in the U.S. Fiat Chrysler Automobiles, Renault-Nissan-Mitsubishi and Volvo are all building entertainment systems on Android.“Google has a much bigger footprint in the auto industry than Amazon does,” says Ramsey, of Gartner. “They’re getting big wins. Amazon is just starting to scratch the surface.”Other carmakers are going their own route.Some, like Daimler’s Mercedes, have thrown their weight behind proprietary voice software. The Mercedes-Benz User Experience system, like many automaker-branded software, is powered by technology built by Nuance Communications Inc., a software company in Massachusetts.“Each of these manufacturers wants to preserve their own brand” in the car, says Richard Mack, a Nuance marketing executive. “When you press that button on the steering wheel, Mercedes would much rather see their emblem come up rather than a Google or an Amazon or a Microsoft logo.”Amazon has tried to assuage carmakers worried about Google or Apple's potential automotive ambitions by suggesting Alexa could be one among several voice assistants embedded in a future entertainment system, according to two people who have heard the pitch, but aren't authorized to publicly discuss it. Amazon last year released tools that let carmakers build Alexa into their cars. The company has also tried to leverage Alexa’s popularity in the home, saying to potential partners that customers would rather use voice software they’re already familiar with than learn a new program while behind the wheel.As Curic’s team negotiated with carmakers, Lab126 engineers got to work on an end around, repurposing the Echo speaker’s microphone arrays and software, originally designed for homes, for noisy car environments. The device avoided dealing with in-car communications systems entirely by piggybacking off of customers’ smartphone to connect to Alexa servers.When it was released, analysts said the Echo Auto seemed to fill a gap in the market, offering a device that promised to bring modern voice control to older car models. It drew more than 1 million orders, Amazon said, though the device is still shipping in batches and only to invited customers.Reviewers said the device lacked polish, coming off at times like a work-in-progress. A reviewer at tech news site the Verge said some of the auto-focused applications Amazon touts on its website “are laughably bad right now.”It’s harder to get a read on how customers feel because Amazon, which helped popularize online product reviews, has disabled customer reviews for the Echo Auto.Ryan Adzima, who bought one to replace the outdated voice control system that came standard in his Jeep, is a fan. The owner of five Echo smart speakers figured the device’s introductory price tag of $25 was a bargain compared with replacing his entertainment system or buying a voice-activated navigation system.He liked the device, which heard his commands over road noise with the windows open and top down and easily handled tasks like calls and music. Connectivity, dependent on sometimes spotty wireless service around his Las Vegas home, left something to be desired, forcing him to reach for his phone to skip songs by hand when Alexa’s servers couldn’t be reached.Adzima isn’t in the market for a new car. But if Alexa is integrated in enough models by the time he is, he’ll consider it.“If I was sitting on a lot, and one car had Alexa built in, the other didn’t, and the cost difference wasn’t that much?,” he says. “That would definitely make my decision.”To contact the author of this story: Matt Day in Seattle at firstname.lastname@example.orgTo contact the editor responsible for this story: Robin Ajello at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- As Hong Kong’s unrest continues, some in the city are looking to the less expensive rents, leafy green streets and relative political shelter of neighboring Taiwan as a safe haven.The number of people moving to Taiwan from Hong Kong has risen rapidly -- up 28% over first seven months of 2019 compared to a year earlier -- fueled in recent months by anti-government protests that have swept the former British colony amid fear its autonomy from Beijing is being eroded.Upwardly mobile entrepreneurs, salespeople and managers say they are attracted by a better quality of life in the democratically run Taiwan -- including cheaper property prices, business opportunities and a safer living environment.Hong Kong’s violence has increased in recent weeks as police and protesters clash and demonstrations spread across the city, including sit-ins that paralyzed its international airport for two straight days last week. China has doubled down on support for local leader Carrie Lam amid fears it will send in its army to restore order, and the city’s economy has begun feeling the toll of 11 straight weeks of rallies. With no end in sight, some residents are looking for a way to leave.Taiwanese President Tsai Ing-wen has been vocal in her support for Hong Kong’s protesters in their pursuit of greater democracy, a contrast to the aggressive police tactics Lam’s China-backed government has used to try and subdue the rallies. The independence-leaning Tsai is up for reelection in January and has seen her support ratings rebound since the movement began, as Taiwanese voters recoil at the scenes unfolding in Hong Kong. China considers Taiwan part of its territory.‘No Future’“I want to move to Taiwan because Hong Kong is in a period of white terror and ruled by the police, which scares me,“ said 37-year-old retail salesperson Steven Chen, a Hong Konger who said he was working to move to the island. “I saw no future for the city when it returned to China some 20 years ago, but now it’s dangerous to live in as the police are not protecting people.”Chen said he was borrowing money from friends and family to come up with the NT$6 million ($190,000) Hong Kong citizens need in order to apply for residency through a Taiwanese government investment scheme.Chen said he has joined every protest since July 1 in support of Hong Kong’s mostly student protesters, including one in which he was almost hit by a rubber bullet. He saw his life as being in danger.Dozens of Hong Kong protesters involved in the July ransacking of the city’s Legislative Council arrived in Taiwan last month to seek asylum, the Apple Daily newspaper reported. They were preceded by prominent activist and bookseller Lam Wing-kee, who fled to the island over the extradition legislation that sparked the current protest movement.New arrivals from Hong Kong accounted for 9.4% of all immigration to Taiwan in the first half of the year -- almost double last year’s percentage -- according to Bloomberg calculations based on data from Taiwan’s immigration agency.The trend is likely to continue as the Taiwanese government has no caps on relocations from Hong Kong and is open to more of its residents coming. “We welcome them,” says Taiwan’s interior minister Hsu Kuo-yung, adding that applications from Hong Kong have risen at least 30% in recent weeks.A timeline of Hong Kong’s historic summer of protestIn a late 2018 survey from the Chinese University of Hong Kong -- before the protests started -- Taiwan ranked as the third most popular destination for Hong Kongers planning to move overseas, after Canada and Australia.Norris Lo is another Hong Konger attracted by what Taiwan has to offer. She and her husband plan to open a pastry shop in the central city of Taichung next year. After considering countries like Australia and New Zealand, they opted for Taiwan due to its affordability.“We want to open a small store of our own, and it’s impossible to do so in Hong Kong,” the 34-year-old pastry teacher said. She also cited the financial hub’s soaring cost of living and densely packed environment.“We don’t see any light at the end of the tunnel,” she says. “If we could see a better future in the next 10 or 20 years, we would be willing to wait. But we don’t see it.”\--With assistance from Matt Turner.To contact the reporters on this story: Cindy Wang in Taipei at firstname.lastname@example.org;Chinmei Sung in Taipei at email@example.comTo contact the editors responsible for this story: Samson Ellis at firstname.lastname@example.org, ;Brendan Scott at email@example.com, Karen LeighFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- It looks like SoftBank Group Corp.’s Masayoshi Son may be struggling to start his next epic journey.A month after announcing an eclectic mix of investors for its Vision Fund 2, SoftBank is leaning on its own employees for cash, planning to lend them as much as much as $20 billion to buy stakes in the venture-capital vehicle, the Wall Street Journal reported at the weekend. The report adds to signs of possible funding gaps in the $108 billion cash pile Son is targeting. SoftBank itself is already putting in $38 billion.Add the potential contribution from employees, and we’re looking at 54% of the money coming from directly inside the SoftBank family. Son may account for $15 billion of that $20 billion target, the Journal reported. SoftBank is looking to charge staff interest of around 5% and in most cases will require little money down, the newspaper said. That hints at desperation.Encouraging, or even enabling, workers to own stock in their employer isn’t so unusual. Companies do that often, and it’s common practice within the hedge fund industry. There’s an argument to be made for allowing employees to have skin in the game, which then aligns corporate and employee incentives.Yet this doesn’t feel like a simple case of share and share alike. When SoftBank announced the size of Vision Fund 2 on July 27 and listed some of its participants, the lack of an external cornerstone investor stood out. That’s in stark contrast to news of the first Vision Fund back in October 2016. While both press releases spoke of memorandums of understanding, rather than signed pledges, the first incarnation had a clear lead investor – Saudi Arabia’s Public Investment Fund – and a specific figure: $45 billion.The 2016 statement even had a quote from Saudi Crown Prince Mohammed bin Salman, who’s the chairman of PIF. (This connection now casts a dark shadow over the Vision Fund given Saudi links to the murder of journalist Jamal Khashoggi.) The original Vision Fund later grabbed another $15 billion from Abu Dhabi’s Mubadala Investment Co.So far, however, there’s no big outside name behind the second fund. With the news of loans to employees, it looks like SoftBank itself will take on the cornerstone role. No corporate is likely to pledge more and the only sovereign the July announcement mentioned was Kazakhstan. Beyond that one nation, the investors appear to fall into two categories – industry buddies such as Apple Inc., Microsoft Corp. and long-time friend Foxconn Technology Group – and a collection of Japanese banks. It’s telling that not one of these was quoted or had a dollar amount put against their name. Having two big outside backers and a slew of unicorns to pick from made raising the first fund relatively easy, as I noted previously. The lack of those rich uncles and the slowing pace of unicorn births mean Fund 2 doesn't look quite as compelling.In the end, SoftBank will probably scrape together the money it needs by casting a wider net and calling in favors. The company will use plenty of FOMO (fear of missing out) to try to convince fence-sitters to pull out the checkbook. But when it does get there, I suspect few investors will big as enthused about Son’s latest big adventure as they were for the first. To contact the author of this story: Tim Culpan at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Trump said Cook "made a good case" that tariffs could hurt Apple, given that Samsung's products would not be subject to those same tariffs. Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on Sept. 1 and Dec. 15.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.President Donald Trump said Apple Inc. Chief Executive Officer Tim Cook voiced concerns about chief competitor Samsung Electronics getting an edge because its products, unlike Apple’s, won’t be subject to tariffs when imported by the U.S.Cook and Trump had dinner on Friday night, while the president was at his golf club in Bedminster, New Jersey. Trump described the conversation to reporters as he prepared to travel back to Washington.The majority of Apple’s products are due to be hit with 10% tariffs in the next weeks or months. Levies on the iPhone, iPad, and Apple laptops have been pushed back to Dec. 15, but the tariff hit on the Apple Watch, AirPods, and many accessories is still planned for Sept. 1.Trump said Cook made a “good case” about the difficulty in competing with Samsung if Apple products are subject to import tariffs. “I thought he made a very compelling argument.”Apple will be hit by tariffs because it makes the majority of its devices in China before importing them to the U.S. and other parts of the world.Samsung, however, builds its products across several countries, including Vietnam and South Korea in addition to China. That means their tariff impact will be far less than the impact to Cupertino, California-based Apple.“It’s tough for Apple to pay tariffs if it’s competing with a very good company that’s not,” Trump said.Apple needs to incorporate the cost of tariffs into the cost of goods, while Samsung currently won’t, putting Apple at a competitive disadvantage. Samsung is launching its latest device, the Note 10, later this month, while Apple is planning upgrades to the Apple Watch, iPhone, and its computers for later this year.To contact the reporters on this story: Jennifer Jacobs in Washington at firstname.lastname@example.org;Mark Gurman in San Francisco at email@example.comTo contact the editors responsible for this story: Alex Wayne at firstname.lastname@example.org, Ros Krasny, Matthew G. MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
President Trump tweeted about his plans to meet with Apple (AAPL) CEO Tim Cook. It's possible that they could discuss Apple’s US manufacturing plans.