|Bid||201.60 x 1000|
|Ask||201.84 x 800|
|Day's range||201.84 - 212.05|
|52-week range||142.00 - 233.47|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||17.21|
|Earnings date||30 Oct 2019 - 4 Nov 2019|
|Forward dividend & yield||3.08 (1.45%)|
|1y target est||223.21|
From posting on social media to calling an Uber, mobile devices are becoming the command center for guiding day-to-day activities. Financial institutions want to get in on the action as well according to an industry insider.
Apple stock fell 4.6% as the US-China trade war intensified today. China warned of tariffs on more US goods, followed by Trump's tweeted response.
In response to new tariffs from China and President Trump's tweets, the market tanked to session lows on Friday. The DJIA nosedived more than 600 points.
(Bloomberg) -- Qualcomm Inc. won’t have to renegotiate its patent licenses while appealing an antitrust ruling won by the U.S. Federal Trade Commission, a federal appeals court ruled.Qualcomm has raised “serious questions” about the merits of the trial court’s ruling, a panel of the U.S. Court of Appeals for the Ninth Circuit said Friday in an order putting the May 21 decision on hold.Forcing the chipmaker to enter into new contracts imposes changes that “cannot be easily undone should Qualcomm prevail on appeal,” the three-judge panel in San Francisco said in a seven-page order that was unusually detailed. There’s no guarantee the three judges who considered Qualcomm’s request will be on the panel hearing the appeal in JanuaryU.S. District Judge Lucy Koh found in May that Qualcomm’s “no license, no chips” policy unfairly leveraged the company’s market position to force customers to pay inflated prices for chips and royalties for their technology. She ordered the company to end the policy and renegotiate some of its contracts.Read More: Judge’s Conundrum: Is Qualcomm a Monopolist, or Merely a Bully?Qualcomm has argued that Koh’s order would undermine its entire business. Under the original ruling, the company would be forced to renegotiate patent-licensing contracts with phone makers, a process that could slash its largest source of profit. It would create binding arrangements that wouldn’t be reversed, even if Qualcomm got the ruling overturned on appeal.The San Diego-based chipmaker is unusual in the chip industry because it gets the majority of its profit from fees on patents that cover the fundamentals of how modern phone systems work. Apple Inc., Samsung Electronics Co. and all of the world’s biggest phone makers have to pay whether or not they use its chips. That arrangement has caused intense legal fights and regulatory scrutiny around the world for Qualcomm.The case has split the U.S. government, especially the two agencies charged with antitrust matters. While the FTC -- an independent agency -- argued that Qualcomm harmed competition, the U.S. Justice Department said Koh’s ruling harmed consumers.Qualcomm also got the backing of other areas of the Trump administration, as both the Defense Department and Department of Energy said the order threatens national security and America’s lead role in 5G, the next-generation of wireless technology that promises to transform everything from robotic surgery to autonomous vehicles.“Whether the district court’s order and injunction represent a trailblazing application of the antitrust laws, or instead an improper excursion beyond the outer limits of the Sherman Act, is a matter for another day,” the appeals panel said, referring to the federal antitrust law.The language of the ruling has improved Qualcomm’s chance of winning the appeal or reaching a settlement with the agency, said Jennifer Rie, an analyst with Bloomberg Intelligence.Ankur Kapoor, an antitrust lawyer with Constantine Cannon in New York who’s not involved in the case, said the panel’s detailed ruling may be an attempt to “explain their thinking” in a case with high stakes for the company. He said the court wanted to maintain the status quo, especially considering the potential impact to Qualcomm’s long-term business and the fact that the appeal is being expedited, with a decision expected shortly after January arguments.In some ways, Qualcomm’s licensing program “appears significantly impaired regardless” because of the legal strains on the company and the slowdown in the “horrendous” chip market, said Stacy Rasgon, an analyst with Bernstein Research.FTC ‘Disappointed’FTC Bureau of Competition Director Bruce Hoffman said he was disappointed in the court’s ruling and noted that only part of the court’s ruling was put on hold. Qualcomm still can’t enter into exclusive deals on modem chips, can’t interfere with any customer’s ability to communicate with government agencies and must submit to monitoring, which the FTC said promotes competition. Qualcomm didn’t ask the appeals court to put those aspects on hold.“The Bureau of Competition will monitor Qualcomm’s conduct relating to the on-going injunctive provisions, and we stand ready to evaluate any information from industry participants relating to whether Qualcomm is complying with its obligations,” Hoffman said.The court order previews some of the arguments that Qualcomm is expected to make when it files its written arguments with the Ninth Circuit later Friday. Qualcomm will argue that Koh stretched the definition of antitrust rules under U.S. law and ignored evidence that showed there was competition.Koh had no right to decide that Qualcomm’s rates were unreasonable, order the company to give licenses to its competitors or decide whether or not it has to supply chips to handset makers, the San Diego-based company contends.The case is Federal Trade Commission v. Qualcomm, 17-220, U.S. Court of Appeals for the 9th Circuit (San Francisco).To contact the reporters on this story: Susan Decker in Washington at email@example.com;Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Peter Blumberg, Steve StrothFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com – Stocks tumbled Friday as the U.S.-China trade dispute intensified and President Donald Trump announced he was ordering U.S. companies with China facilities to move them somewhere else.
(Bloomberg) -- Semiconductor companies and Apple Inc. fell sharply on Friday, as the trade war between the U.S. and China continued to escalate.China’s Ministry of Finance said the country plans to levy retaliatory tariffs on another $75 billion of U.S. goods, pressuring the securities in pre-market trading. Their losses were extended following the open, after President Donald Trump subsequently said that he would announce his response Friday afternoon.Apple fell as much as 3.9%. The iPhone maker is heavily correlated to trade issues because China is both a major part of its supply chain and a notable market for its products. The company derived nearly 20% of its 2018 revenue from China, according to data compiled by Bloomberg.Chipmakers have been similarly volatile because of the trade war. The Philadelphia Semiconductor Index dropped 3.6% on Friday, and every member of the benchmark industry index was in negative territory.Among notable decliners, Qualcomm Inc. lost 3.3% while Nvidia Corp. was off 5% and Micron Technology shed 3.5%. Broadcom Inc. was down 4.9% and ON Semiconductor Corp. lost 5.4%.Technology stocks were the weakest-performing sector on Friday, with the S&P 500 information technology index down 2.4%. The S&P 500 overall fell 1.4%.(Adds Trump’s response in second paragraph, updates prices to market open)To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Catherine Larkin at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(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.
HyperChange founder and CEO, Galileo Russell explains to Yahoo Finance why he thinks Tesla is should not sell itself to another company.
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
A Yahoo Finance investigation reveals a lobbying campaign on behalf of big tech to stop data privacy bills this year in at least 13 states.
Aug.23 -- Gene Munster, Loup Ventures managing partner, and Bloomberg's Ian King discuss the impact of the escalating China-U.S. trade war on the tech industry. They speak with Bloomberg's Emily Chang on "Bloomberg Technology."