The iPhone 6 has finally been approved to be sold in China, the world's largest smartphone market and one of Apple's (NASDAQ:AAPL) largest for iPhone sales, ten days after its global launch.
China's Ministry of Industry and Information Technology was previously concerned about security risks that could result in personal data breaches, but resolved the issues through "rigorous security testing" and talks with Apple.
Chinese customers will be able to pre-order the smartphones beginning Oct. 10 and in-store sales will start from the 17th.
Apple (NASDAQ:AAPL) will face accusations this week from the European Commission, as the preliminary findings over its tax affairs in Ireland are made public.
European regulators will accuse Apple of benefiting from illicit state aid in Ireland for more than two decades, which could leave the company with a record fine of as much as several billions of euros, FT reports.
The probe is part of a formal investigation into European corporate tax codes, which is also investigating Fiat (OTCPK:FIATY) and Starbucks (NASDAQ:SBUX).
Bendgate isn't a concern for Stifel's Aaron Rakers: Citing "continued strong demand data points" for the iPhone 6 (AAPL +1.4%) and an expectation Chinese sales will start by year's end, he's raising respectively raising his FQ4 and FQ1 iPhone sales estimates by 1.8M and 6.7M to 39.6M and 65.3M, while reiterating a Buy.
Rakers adds a stronger mix of iPhone 6/6 Plus sales could yield upside to his forecasts. He thinks the 6/6Plus could account for 60-70% of FQ1 iPhone sales, leading iPhone ASP to rise to $680 or higher. ASP was only at $561 in FQ3, and $596 in FQ2.
The iPhone 6 carries unsubsidized U.S. prices of $649-$849, and the 6 Plus prices of $749-$949. Rakers notes Apple's decision to double the storage capacities of higher-capacity models could also provide an ASP lift.
BMO's Keith Bachman (Outperform) has upped his FY15 (ends Sep. '15) iPhone sales estimate by 10.6M units to 189M. The hike comes even though Bachman "[remains] unclear about Apple’s ability to sell the iPhone 6 and 6 Plus in China, particularly in the December quarter." He's also setting an FY15 Apple Watch forecast of 12M units.
Also: MacRumors reports Apple is prepping a refresh for the Mac Mini, which was last updated two years ago. The site thinks the refresh could arrive in October, along with new iPads and Mac OS X Yosemite.
Yesterday: Apple falls as Bendgate, iOS 8.01 get more publicity
Apple (NASDAQ:AAPL) has fallen below $99 amid a tech selloff as both the iPhone 6 Plus' reported bending issues and the quickly-pulled iOS 8.01 continue garnering ink.
An Apple customer support rep has told The Next Web a bent iPhone 6/6 Plus could be replaced under warranty if it passes a test called a Visual Mechanical Inspection. Apple's support team added the company is looking into the issue "with an insane amount of detail."
A poll done by 9to5 Mac (32K votes so far) currently shows 18.4% of respondents saying they're putting off buying an iPhone 6 until the issue is resolved, and 11.4% saying they own an iPhone 6 and are concerned. 46% are unconcerned, and 23% say they're not worried enough to have it affect their decision.
Meanwhile, Apple has released a workaround for iOS 8.01 installers who have seen their cellular radios and Touch ID sensors disabled by the update; the workaround requires users to re-install iOS 8. Apple says a new update (iOS 8.02) will arrive "in the next few days."
Antennagate 2.0? Apple (AAPL -0.9%) is declining to comment for now on growing reports the 5.5" iPhone 6 Plus occasionally bends after being left in a user's front pocket for a long period of time.
A video of a bending test done by Unbox Therapy has racked up over 7M views. Unbox also did a similar test for the 5.7" Galaxy Note 3 (has a plastic case rather than an aluminum one), and found it held up relatively better.
Apple released and quickly pulled iOS 8.01, an update that fixed a bug related to the company's new HealthKit platform (among other things). Some users reported the update led to the disabling of their cellular service.
With the 6 Plus supply-constrained, mobile ad platform Fiksu reports over 6x as many iPhone users tracked by its network are using the iPhone 6 than the 6 Plus (2.1% vs. 0.32%). A bright spot: At a similar point in time, only 0.89% of users were using an iPhone 5S, and 0.36% a 5C. 29.4% of users are on iOS 8, compared with 54.5% who were on iOS 7 at a similar point.
NPD estimates U.S. Mac sales between July 4 and Labor Day rose 14% Y/Y, while Windows sales declined 3%. Macs made up an estimated 26.8% of PC sales, Windows systems 68.4%, and Chromebooks 4.5%.
Apple reported a 13% Y/Y increase in Mac revenue (to $5.5B) for the June quarter. The launch of cheaper models is likely helping.
Re/code: "Based on conversations with people familiar with Apple’s (AAPL +0.1%) thinking: Apple won’t shutter the [Beats Music] streaming service. It may, however, modify it over time, and one of those changes could involved changing the Beats Music brand."
Re/code's report follows one from TechCrunch stating Apple is planning to shut down Beats Music and "sunset the Beats Music brand." Apple spokesman Tom Neumayr says TechCrunch's report is "not true," but doesn't elaborate.
Gene Munster estimates ~8M of the 10M+ iPhone 6 units Apple sold over the weekend wound up being purchased by consumers, with the remaining ~2M going into the channel. That implies 45% consumer sell-through growth over estimated first-weekend iPhone 5S sales of 5.5M.
Patently Apple notes Apple has filed a patent application for a new sapphire glass-strengthening process. The application relates to the use of coatings on a material such as sapphire.
GT Advanced (GTAT +1%), whose shares were hit hard by news that the iPhone 6 (unlike the Apple Watch) doesn't use sapphire cover glass, closed higher today. Last week, Time took a look at the technology challenges that may have led Apple to opt against using sapphire cover glass for the iPhone 6.
Five sources tell TechCrunch Apple (AAPL +0.1%) plans to shut down the Beats Music streaming service. The site adds many Beats Music engineers "have already been moved off the product and onto other projects at Apple, including iTunes."
Tim Cook praised Beats Music shortly after the Apple-Beats deal was announced, declaring the streaming music service to be "the first one that really got it right." However, as TechCrunch observes, having a Beats-branded service run in parallel with iTunes-branded services runs counter to "Apple’s penchant for simple, unified brands."
Given Cook's remarks, and the fact former Beats Music chief Ian Rogers is now in charge of iTunes Radio, the launch of an Apple-branded streaming music service that leverages Beats' technology is a strong possibility. One TechCrunch source says Apple "may roll streaming into iTunes."
Beats Music had seen 5M downloads as of May, but claimed only 250K paid subs. Notably, its apps are available on Android and Windows Phone in addition to iOS.
Earlier: First weekend iPhone 6/6 Plus sales top 10M
Update:Re/code reports Apple isn't planning to shutter Beats Music, but may make changes that include doing away with the Beats Music brand.
"Sales for iPhone 6 and iPhone 6 Plus exceeded our expectations for the launch weekend, and we couldn't be happier," says Tim Cook as Apple (NASDAQ:AAPL) reports the sale of more than 10M of the new devices on their opening weekend.
One year ago, Apple sold 9M of the iPhone 5S and 5C on their opening weekend. The iPhone 6 and 6 Plus are not yet available for purchase in China, while the 5S and 5C initially were up for sale there last year.
The 6 and 6 Plus started selling at stores in 10 regions on Friday, and will be available in 20 additional countries by the end of this week and 115 countries by year-end.
Thousands are lining up all over the world for Apple's (NASDAQ:AAPL) new release of the iPhone 6 and 6 Plus. The record demand for the bigger-screen smartphones has already outstripped supply, with preorders selling out last week.
The two went on sale today in Australia, Hong Kong, Singapore and Japan, before rolling out in France, Germany, Puerto Rico, Canada and the U.S.
The iPhone release is Apple's most important event this year, with the devices generating more than half of the company’s $171B revenue in 2013.
Apple (NASDAQ:AAPL) enjoys a steady stream of positive reviews for the iPhone 6 and iPhone 6 Plus.
WSJ’s Geoffrey Fowler: “Apple has successfully addressed its size deficiency, and much more... Performance, usability and camera refinements, coupled with a safe, powerful operating system that now lets the iPhone's big collection of apps do more."
Re/Code’s Walt Mossberg, formerly the WSJ tech guru, on CNBC: "It's the best smartphone on the market, when you combine its hardware, all-new operating system, and the Apple ecosystem whose doors it opens."
David Pogue of Yahoo! Tech: The "two new iPhones are excellent. Beautiful. State of the art... a thin, sexy phone with a killer camera."
Only NYT's Molly Wood casts a discouraging word; she's mostly favorable, praising the software inside the new phones, but adds that AAPL in some ways falls short in taking advantage of the bigger screens.
Meanwhile, AAPL is delaying the release of new health-tracking software it has touted as one of the main features of its new operating system for the iPhone and iPad.
First weekend sales results for Apple's (NASDAQ:AAPL) iPhone 6 and 6 Plus could disappoint, Bernstein's Toni Sacconaghi warns, noting AAPL's pre-order announcement and customer expected delivery dates point to stronger supply constraints vs. prior years and China's absence as a launch country.
Sacconaghi estimates first weekend shipments could come in at 7M-8M units rather than expectations for as high as 10M units or even the 9M iPhone 5S and 5Cs shipped last year.
But the analyst says investors should bear in mind that "first weekend sales" are principally a function of available supply rather than iPhone demand; a slower ramp could ultimately prove beneficial for AAPL, since a later China rollout could push sales forward and help smooth the iPhone's typical March quarter falloff.
Apple (AAPL +0.5%) will unveil two new iPads and release the next version of its Mac operating system at its next event on Oct. 21, according to a report from Daily Dot.com.
AAPL reportedly plans to unveil the sixth generation of its iPad and the third edition of iPad mini during the event and to release the OS X Yosemite, a complete visual overhaul for the Mac, immediately thereafter.
Meanwhile, China Mobile (NYSE:CHL) Chairman Xi Guohua tells reporters he doesn't know when the new iPhones will be available, and his company will focus on selling cheaper phones which don't require subsidies. "The direction of our development is to completely focus on the mass market,” says Xi. “We have 4G devices selling for ¥1K. I believe, subsidy or no subsidy, discount or no discount, the common person will be able to appreciate this.”
China Mobile fell the most in two years in Hong Kong acton overnight, down 3.9%. Apple is lower by 1.1% premarket.
Doctors at Stanford U. are set to begin an evaluation of Apple's (NASDAQ:AAPL) HealthKit in the management of patients with diabetes. The goal is the improve the sharing of data between patients and physicians. HealthKit will provide a critical link between monitoring devices, frequently used at home, and medical information services relied upon by doctors.
Initially, two young diabetes patients will each be sent home with an iPod touch to monitor their blood sugar levels between visits to the doctor. Their blood monitoring equipment (DexCom is currently negotiating with Apple, Stanford and the FDA about integrating with HealthKit) measures glucose levels every five minutes via a tiny sensor inserted under the skin in the abdominal area. It then sends the data to DexCom's mobile iPhone app which can then be uploaded into charting software for viewing by clinicians.
Duke University is developing a similar pilot program to monitor blood pressure and other vitals for patients with cancer or heart disease.
The trials will be expanded rapidly if there are no significant problems.
Calling the introduction of Apple Pay an "iPod moment for cash and credit cards," the team at the FT - citing those who are familiar with the terms of the agreement - reports Apple (NASDAQ:AAPL) will get $0.15 for every $100 worth of purchases, a deal others - including Google - have been unable to negotiate with credit card companies.
"That makes Apple Pay unique," says mobile payment veteran Dickson Chu. "It's somewhat surprising that Apple was able to negotiate something Google couldn’t.”
Another executive at a payment technology company is surprised banks were so willing to concede to Apple after what happened to the record labels. Banks, however, are wiling to give up per-transaction revenues in the hope of more volume. “What Apple really announced was the end of the plastic credit card, but not the end of paying by credit,” says the head of the Electronic Transactions Association.
In other news - without giving details - AT&T announces a record iPhone pre-order launch day, and Apple announces first day pre-orders of the iPhone 6 and 6 Plus of more than 4M units.
Nomura’s Stuart Jeffrey isn't particularly impressed with Apple Pay, believing that the service won’t boost AAPL earnings much and reinforcing his broader concern that “We continue to view Apple’s execution as industry leading but note that major leaps forward are increasingly difficult and have an ever smaller impact on growth given Apple’s near $200B revenue level."
The analyst roughly calculates what AAPL could make if it captures a large proportion of digital transactions: a maximum $0.13 additional EPS in FY 2016 and revenue upside of $400M-$1.2B, equivalent to a revenue boost of 0.3%-0.6%.
: I am Tech heavy now becoz Tech got trashed earlier so I am doing the ECO friendly BUY and recycle them.
AAPL vs. ETF Alternatives
Apple Inc designs, manufactures, and markets personal computers, mobile communication devices, media devices personal computers, and portable digital music players, and sells various related software, services, peripherals and networking solutions.