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Apple Inc. (AAPL)

  • Today, 2:21 PM
    • In addition to the iPhone 6S/6S+ and a new Apple TV set-top, Apple's (AAPL +3.4%) Sep. 9 event will also feature the unveiling of the oft-rumored iPad Pro and a 4th-gen iPad Mini, "trusted sources" tell 9to5 Mac. A 3rd-gen iPad Air is also reportedly being prepped, but won't launch until 2016.
    • The Pro, previously rumored to have a 12.9" display, will reportedly see pre-orders start in late October and fully launch in November. 9to5 states the device will support a Force Touch-based stylus and come with stereo speakers. The 4th-gen Mini is said to be thinner than its predecessor and run on an A8 CPU, and to "likely" feature upgraded cameras.
    • In June, Apple showed off iPad multitasking features (part of iOS 9) that would work well with a larger, business-focused, tablet. The Pro could provide a lift to broader iPad sales, which were down 23% Y/Y in calendar Q2 to $4.5B.
    • Also reported by 9to5: The iPhone 6S and 6S+ will retain the 6/6+'s 16/64/128GB storage tiers, as well as their subsidized launch prices. One hardware change: Apple is reportedly using the stronger 7000 series aluminum it first debuted with the Apple Watch.
    • Meanwhile, more details have been shared about the next-gen Apple TV (prior coverage). Sources tell BuzzFeed the device will start at $149 and contain a universal search feature that can query multiple video services. 9to5 Mac states the new Apple TV will have an A8 CPU, the same ports as the prior-gen model, and no 4K video support.
    • Apple is up strongly a day after dropping 4.5%. The Nasdaq is up 1.6%.
    | Today, 2:21 PM | 35 Comments
  • Yesterday, 12:28 PM
    • Variety reports Apple (NASDAQ:AAPL) "has held preliminary conversations in recent weeks with executives in Hollywood to suss out their interest in spearheading efforts to produce entertainment content." Internet software/services chief Eddy Cue's team is said to be responsible for the efforts.
    • Sources provide varying takes on the scope of Apple's ambitions: One "high-level executive" says Apple wants to "create development and production divisions that would churn out long-form content to stream in a bid to compete with Netflix (NASDAQ:NFLX)," while others suggest "the company’s exploration as more of a flirtation." Apple reportedly tried to hire the stars of BBC's Top Gear; they wound up signing with Amazon (NASDAQ:AMZN) in a deal reportedly worth ~$7M/episode.
    • The report follows several stating Apple plans to launch a Web TV service. Most recently, Bloomberg reported Apple is hoping to launch the service in 2016, and charge around $40/month.
    | Yesterday, 12:28 PM | 31 Comments
  • Mon, Aug. 31, 2:37 PM
    • Apple (AAPL -0.3%) is partnering with Cisco (CSCO -0.3%) to improve the performance of iOS devices - in Apple/Cisco's words, create a "fast lane" for iPhones/iPads - communicating via Cisco's networking hardware, which is ubiquitous at many enterprises and institutions.
    • The companies are also working on creating "a seamless experience" between iPhones and desk phones in environments featuring Cisco voice/video hardware. Cisco's WebEx Web conferencing platform, Telepresence videoconferencing hardware, and Spark Web collaboration platform will be covered by the tie-up.
    • The deal comes 13 months after Apple announced a partnership with IBM, which has since led to Big Blue releasing a number of iOS apps meant for business verticals. Apple has also partnered with various indie developers to bring enterprise-focused iOS apps to market.
    • Separately, 9to5 Mac reports the next Apple TV set-top (expected to be shown off at Apple's Sep. 9 event) will sell for $149-$199, support 3rd-party Bluetooth gaming controllers to go with downloadable App Store games, and come with a remote featuring motion sensors and a button that activates Siri.
    • The site previously reported Apple plans to continue selling the current $69 Apple TV, and that both the new and old models will support Apple's Web TV service when it launches. BuzzFeed has also shared details about the next-gen model.
    • Also: Piper's Gene Munster speculates Apple is exploring its options in the augmented reality market. He highlights Apple's purchases of motion sensor maker PrimeSense and AR software firm/patent owner Metaio, as well as the hiring of the lead audio engineer for Microsoft's HoloLens AR headset.
    | Mon, Aug. 31, 2:37 PM | 38 Comments
  • Fri, Aug. 28, 11:10 AM
    | Fri, Aug. 28, 11:10 AM | 117 Comments
  • Fri, Aug. 28, 4:28 AM
    • The architect of Apple's (NASDAQ:AAPL) online radio strategy has resigned just two months after the launch of its Beats1 radio service, FT reports.
    • News of Ian Rogers' departure is unexpected. He is leaving to work for a Europe-based company in an unrelated industry.
    • Apple said this month that 11M people had signed up for free trials of Apple Music in the first four weeks since its launch. Spotify, meanwhile, claims 75M active users, and Pandora has about 80M.
    | Fri, Aug. 28, 4:28 AM | 103 Comments
  • Thu, Aug. 27, 12:39 PM
    • "Hey Siri, give us a hint," goes the invitation, suggesting the possibility of an update to Siri along with the expected launch of the iPhone 6S.
    • The location is at the Bill Graham Civic Auditorium in San Francisco - a larger venue than past events.
    • AAPL +3% to $113.02
    | Thu, Aug. 27, 12:39 PM | 106 Comments
  • Wed, Aug. 26, 4:21 PM
    • The Nasdaq has closed its latest ultra-volatile day up 4.2%. Chip stocks, hit hard in recent weeks amid China/inventory concerns, were among the standouts (SOXX +5%) during the rally: Big gainers included Nvidia (NVDA +7.5%), Skyworks (SWKS +6.9%), Qorvo (QRVO +5.9%), Xilinx (XLNX +6.3%), Analog Devices (ADI +7.1%), Linear (LLTC +6.1%), SanDisk (SNDK +7.4%), ON Semi (ON +6.2%), and Cavium (CAVM +5.6%).
    • Cybersecurity plays and various other enterprise tech names also did well. Standouts included HP (HPQ +5.5%), Palo Alto Networks (PANW +6%), Rackspace (RAX +9.8%), Red Hat (RHT +5.9%), KEYW (KEYW +8.1%), Brocade (BRCD +5.6%), ShoreTel (SHOR +5.7%), Violin Memory (VMEM +14.7%), and Rapid7 (RPD +7.2%).
    • In addition to HP, tech large-caps turning in big gains included Apple (AAPL +5.7%) Microsoft (MSFT +5.5%), Google (GOOG +7.7%), and Intel (INTC +5.5%). Google benefited from a Goldman upgrade.
    • KEYW announced a CEO change yesterday afternoon. HP and Brocade are adding to last week's post-earnings gains. Skyworks/Qorvo peer Avago has posted an FQ3 beat after the close.
    | Wed, Aug. 26, 4:21 PM | 19 Comments
  • Tue, Aug. 25, 9:14 AM
    • "While we note that our fundamental stance on Apple's challenges are unchanged, we believe shares have over-corrected," writes Wells Fargo's Maynard Um, upgrading to Outperform. His target range is $125-$135.
    • Um, who downgraded Apple (NASDAQ:AAPL) back in early 2014, adds Tim Cook's Monday e-mail to Jim Cramer regarding Chinese iPhone sales provides better calendar Q3 visibility. "We also note AAPL’s 3rd party manufacturing & component commitments ... suggest upside potential to its $49B-51B guidance. While our concern on tough compares for the Dec quarter are unchanged and our [estimates] remain below the Street, we believe the stock had been reflecting this challenge ... We believe the risk/reward at 8x our [free cash flow estimate] is tilted favorably with China strength appearing to have continued recently and the quarter having some visibility..."
    • With the help of higher equity markets - Nasdaq futures are up 3.7% - Apple has risen to $109.01 premarket. Shares fell as low as $92.00 yesterday morning before closing at $103.12.
    • Update (4:15PM ET): Apple gave back most of its gains as markets sold off this afternoon. Shares closed up 0.6%.
    | Tue, Aug. 25, 9:14 AM | 46 Comments
  • Mon, Aug. 24, 9:01 AM
    • Amid a rout in China Monday, Apple (NASDAQ:AAPL) is down 5.8% to slip below $100/share in premarket trading, quoting at its lowest point in 10 months.
    • Last week, the company lost 8.8% as well, with some observers pointing to Chinese market uncertainty.
    • The company's confirmed it's replacing a glitchy camera on a "small percentage" of iPhone 6 Plus devices that results in blurry photos.
    • Shares in Apple have slid 17% since it was added to the Dow earlier this year.
    • Update: In an e-mail to Jim Cramer, Tim Cook states Apple "continued to experience strong growth for our business in China through July and August," and that iPhone activation growth "has actually accelerated over the past few weeks." Apple's Greater China revenue rose 112% Y/Y in calendar Q2, and accounted for 27% of its revenue.
    • Update 2 (11:51AM ET): Apple has rebounded as equity markets have pared their big early-morning losses: Shares are now up 0.8%.
    • Update 3: Apple joined the Nasdaq in reversing course again this afternoon. Shares closed down 2.5%. 161.4M were traded, over 3x a 3-month daily average of 50.4M.
    | Mon, Aug. 24, 9:01 AM | 95 Comments
  • Mon, Aug. 24, 8:03 AM
    | Mon, Aug. 24, 8:03 AM | 45 Comments
  • Fri, Aug. 21, 5:06 PM
    • Apple (NASDAQ:AAPL) is adding to what looks to be a growing automated-car expert team, hiring away a senior engineer from Tesla, Reuters notes in combing through LinkedIn profiles.
    • Jamie Carlson's profile shows he's left Tesla for an unnamed position in a special projects group at Apple, Reuters says, noting six others with a background in self-driving technology have recently joined Apple. Carlson is one of a number of Tesla hires (described earlier this year as a "poaching war").
    • This year, Apple has hired former Volkswagen engineer Megan McClain as well as Vinay Palakkode, graduate researcher at Carnegie Mellon, a hub for automated driving research.
    • Last week, The Guardian wrote that Apple has "hundreds of engineers" quietly working on autonomous technologies in California. Other reports have Apple hiring people with related experience from several automakers, including BMW, Volkswagen, Ford, Fiat Chrysler and Mercedes-Benz, as well as from suppliers such as Robert Bosch, TRW and Delphi Automotive.
    • After today's 6.1% decline, shares in Apple are up 0.5% in active after-hours trading.
    • Previously: Report: Apple interested in place used to test self-driving cars (Aug. 14 2015)
    | Fri, Aug. 21, 5:06 PM | 148 Comments
  • Fri, Aug. 21, 4:14 PM
    • The major averages all plunged another 3%-plus to close the week.
    • The Dow (NYSEARCA:DIAlost 5.8% for the week - it's worst weekly stretch since September 2011 when the European debt crisis was at its peak and the U.S. had just been downgraded. The S&P 500 (NYSEARCA:SPYfell 5.5% - also its worst week since Sept. 2011. The Nasdaq (NASDAQ:QQQfell 6.7%, its worst week since Aug. 2011.
    • The Dow is lower by 7.6% YTD, the S&P 500 3.75%, and the Nasdaq 0.55%.
    • The 10-year Treasury yield slipped three basis points to 2.04%, its lowest print since before the summer, and oil briefly fell below $40 per barrel (it's back to $40.34 at pixel time).
    • Apple's (AAPL -6.1%) decline today put that stock 20% below its level of just one month ago, and the shares are in the red for the year to the tune of 4.2%. On a year-over-year basis, they're higher by 7.95%.
    | Fri, Aug. 21, 4:14 PM | 221 Comments
  • Fri, Aug. 21, 3:53 AM
    • Apple (NASDAQ:AAPL) has raised A$2.25B ($1.6B) with a debut "Kangaroo" bond issue, smashing the record for the largest-ever corporate bond deal in Australia.
    • The iPhone maker sold A$1.15B of seven-year notes at a yield of 110 bps more than swap rates and A$1.1B of four-year securities at a 65 bps spread, bringing its total debt issuances over the past two years to $50B.
    • Apple had only sold U.S. currency bonds until last November, but has since expanded to euros, yen, pounds, Swiss francs and Aussie dollars.
    | Fri, Aug. 21, 3:53 AM | 68 Comments
  • Thu, Aug. 20, 2:35 AM
    • Yesterday was the 11th anniversary since Google's (GOOG, GOOGL) initial public offering, and there's no doubt the company has had a remarkable run (Class A shares +1,277%).
    • Although the online advertising giant has given a massive return to investors, there are still 13 stocks that outperformed Google since 8/19/2004:
    • Alexion Pharmaceuticals (NASDAQ:ALXN); Amazon (NASDAQ:AMZN); Apple (NASDAQ:AAPL); Celgene (NASDAQ:CELG); Gilead Sciences (NASDAQ:GILD); Intuitive Surgical (NASDAQ:ISRG); Keurig Green Mountain (NASDAQ:GMCR); Monster Beverage (NASDAQ:MNST); Netflix (NASDAQ:NFLX); Priceline (NASDAQ:PCLN); Regeneron Pharmaceuticals (NASDAQ:REGN); (NYSE:CRM); Vertex Pharmaceuticals (NASDAQ:VRTX).
    | Thu, Aug. 20, 2:35 AM | 54 Comments
  • Fri, Aug. 14, 4:12 PM
    • The Guardian reports Apple's (NASDAQ:AAPL) Project Titan car initiative has advanced to the point where the company has inquired about using a secure California facility (known as GoMentum Station) that's used by automakers to test self-driving/autonomous vehicles.
    • An official for the government agency overseeing the facility: “We had to sign a non-disclosure agreement with Apple. We can’t tell you anything other than they’ve come in and they’re interested.”
    • The Guardian adds Apple now has "hundreds of engineers quietly working on autonomous technologies" at a building in Sunnyvale, CA, not far from its Cupertino HQ. Past reports have indicated Apple has hired senior auto execs and engineers from the likes of Tesla, Fiat Chrysler, and Mercedes-Benz, and has tapped ex-Ford VP Steve Zadesky to head its car project.
    • Bloomberg has reported Apple wants to bring an electric car to market by 2020. More recently, Reuters reported Tim Cook and other execs toured BMW's Leipzig, Germany manufacturing plant last year to learn more about the production of the i3 electric car, and that BMW "signaled readiness to license parts." However, the talks are said to have ended without a deal.
    | Fri, Aug. 14, 4:12 PM | 50 Comments
  • Thu, Aug. 13, 6:09 PM
    • After previously aiming for a fall launch, Apple (NASDAQ:AAPL) is now looking to bring its Web TV service to market in 2016, Bloomberg reports. The delay is blamed on slow-moving licensing talks with TV networks such as CBS, NBC, and Fox, and the need for network capacity upgrades.
    • Re/code previously reported Apple's service might not launch until 2016 or late 2015. More recently, BuzzFeed reported the service wouldn't be announced at Apple's September iPhone event; a new Apple TV set-top is expected.
    • Bloomberg's sources suggest Apple wants to charge ~$40/month for its service. Dish's Sling TV service provides a limited number of channels for $20/month, while Sony's more expansive PlayStation Vue service goes for $50-$70/month.
    • Regarding network capacity, Apple (unsurprisingly) wants to improve quality and keep bandwidth costs down by using CDNs to stream content from data centers that are close to users. The company has been building out its own CDN, and also continues to heavily use market leader Akamai's (NASDAQ:AKAM) services.
    • In other news, a federal appeals court has turned down Samsung's request to review the 2012 infringement verdict won by Apple in a California court. Samsung was originally ordered to pay over $1B, but that figure was later cut to $548M. The case will now go back to the California court to determine how much Samsung has to pay.
    | Thu, Aug. 13, 6:09 PM | 99 Comments
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Company Description
Apple Inc designs, manufactures, & markets mobile communication & media devices, personal computers, & portable digital music players, & sells a variety of related software, services, accessories, networking solutions, & third-party digital content.
Sector: Technology
Country: United States