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Apple Inc. (AAPL)

  • Mon, Mar. 30, 10:23 AM
    • "We believe ADI has secured multiple sockets across AAPL's iPhone/iPad lineup to enable the 3D/Force Touch feature," reports Barclays, upgrading Analog Devices (NASDAQ:ADI) to Overweight and hiking its target by $15 to $70. "[W]e believe AAPL needs and would be be willing to pay for ADI's high accuracy [analog/digital] converters."
    • The WSJ reported 3 weeks ago Apple's next-gen iPhones will support haptic sensors that allow different software commands to be sent based on how hard a user presses on a screen. Apple has already integrated its haptics solution (christened Force Touch) within Apple Watch and a new 12" retina MacBook.
    • Barclays forecasts the Apple wins will boost ADI's 2016 EPS by $0.80 or more. It thinks 1 converter chip will be needed for the iPhone and 3 for a 12" iPad, and estimates an ASP of $1.50-$2.00. "ADI is known to have the best converters in the industry and this level of performance is needed to compensate for high levels of screen noise."
    • Long-term, the firm believes multi-chip iPad solutions could be replaced by a single chip, and that ADI could even "integrate the 2D touch function into a single super chip." It also believes the company is seeing strong industrial chip demand, forecasts a pickup in auto chip sales, and sees room for further revenue and cost synergies from the Hittite acquisition.
    • Shares have blasted off to new highs on Barclays' report.
  • Fri, Mar. 27, 2:50 AM
    • Apple (NASDAQ:AAPL) CEO Tim Cook plans to give away all his wealth after paying for the college education of his 10-year-old nephew, Fortune Magazine reports.
    • "You want to be the pebble in the pond that creates the ripple for change," Cook stated.
    • Fortune estimates Cook's net worth, based on his holdings of Apple stock, at about $120M. He also holds restricted stock worth $665M if it were to be fully vested.
  • Thu, Mar. 26, 12:48 AM
    • Though there have been a slew of reports stating Samsung (OTC:SSNLF) will be the main supplier for Apple's (NASDAQ:AAPL) A9 CPU (expected to go into the iPhone 6S/6S+ and next-gen iPad Air), "industry sources" tell Taiwan's Digitimes TSMC (NYSE:TSM) will "remain the major processor supplier for Apple in the second half of 2015."
    • The world's biggest foundry will reportedly supply CPUs for the iPhone 6S and 6S+ using a next-gen 16nm FinFET process, and for a cheaper 4" "6C model" via its existing 20nm process (used to make the A8). Cowen previously reported Apple is working on a new 4" iPhone.
    • The site qualifies its report by stating Samsung is also expected to be a 6S/6S+ supplier. Samsung recently began producing chips using its next-gen 14nm FinFET process, widely expected to be leveraged for A9 production. Meanwhile, A8 orders have done wonders for TSMC: The company has posted 30%+ Y/Y sales growth for several months in a row.
    • In spite of a favorable Digitimes report last night as well (that one was about Q2 sales), shares fell 5.4% today amid a major chip stock rout - volume (32.3M shares) more than doubled a 3-month daily average of 13M. Barron's has reported hearing CFO Lora Ho made cautious comments about near-term demand at a Hong Kong Credit Suisse conference.
  • Tue, Mar. 24, 3:54 PM
    • Buyback-happy U.S. firms are prohibited from repurchasing shares from about five weeks prior to releasing quarterly earnings to about 48 hours after those reports. These blackout periods, says Goldman, may offer an especially tasty time for investors to pick up shares of their favorites.
    • "High valuations in the absence of corporate demand may weigh on stock prices," says Goldman's Amanda Sneider, and particular areas of focus are tech, consumer discretionary, and financials - they've accounted for more than 50% of buyback activity.
    • Goldman's buyback blackout theme buys: SanDisk (NASDAQ:SNDK), Yahoo (NASDAQ:YHOO), Travelers (NYSE:TRV), Apple (NASDAQ:AAPL), Juniper Networks (NYSE:JNPR), Xerox (NYSE:XRX), Torchmark (NYSE:TMK), F5 Networks (NASDAQ:FFIV), Citrix Systems (NASDAQ:CTXS), Aon (NYSE:AON), Moody's (NYSE:MCO), VeriSign (NASDAQ:VRSN), Hartford Financial (NYSE:HIG), Ameriprise (NYSE:AMP), Corning (NYSE:GLW), Time Warner (NYSE:TWX), Seagate Technology (NASDAQ:STX), Viacom (NASDAQ:VIAB), Legg Mason (NYSE:LM), XL Group (NYSE:XL), DirecTV (NASDAQ:DTV), Allstate (NYSE:ALL), Nvidia (NASDAQ:NVDA), CBS (NYSE:CBS), Macy's (NYSE:M), Kohl's (NYSE:KSS).
  • Mon, Mar. 23, 5:21 PM
    • A Cowen survey of 3K smartphone owners - 1K apiece in the U.S. and China, and 500 apiece in the U.K. and Japan - found nearly 20% of the 1,500 respondents who owned an iPhone 6/6+ (NASDAQ:AAPL) stating "their new device replaced a competitor’s smartphone, of which ~83% were Android." Another 5% said the 6/6+ was their first smartphone.
    • Android defections were particularly strong in China, where 30% of 6/6+ owners said they replaced an Android phone - Apple's Greater China sales were up 70% Y/Y in calendar Q4. The figure was 14% in Japan, 9% in the U.K., and 8% in the U.S.
    • Also: 42% of the 1,500 respondents who plan to buy an iPhone 6/6+ in the next 12 months own a non-Apple smartphone, with 85% owning an Android device. Meanwhile, nearly 50% of those who have bought one upgraded early.
    • Regarding Apple Watch, the survey found 55% of respondents indicating "a positive purchase intention," and 28% indicating neutral purchase intent. With 3/4 of respondents expecting battery life to be above 1 day (as compared with the official 18 hours under normal use), Cowen sees battery life as a near-term limitation. The firm has also reported initially supplies could be low.
    • IDC assigned the iPhone a 19.7% Q4 unit share to Android's 76.6%; revenue share is likely above 40%. More than a few observers have argued the arrival of 4.7" and 5.5" iPhones could win over some Android users who prefer larger-screened devices.
  • Fri, Mar. 20, 2:15 PM
    • The 3G-only Lumia 430 is Microsoft's (MSFT +1.4%) cheapest Windows Phone to date. It has a 4" 800x480 display and 8GB of storage, runs on Qualcomm's (NASDAQ:QCOM) low-end Snapdragon 200 processor (dual-core, 1.2GHz.), and contains a 2MP rear camera to go with a VGA front camera.
    • The 430, which goes on sale in April, also supports dual SIMs (important for emerging markets) and comes with up to 30GB of free OneDrive cloud storage. Its unveiling arrives three weeks after Microsoft launched the mid-range Lumia 640 and 640XL, and four months after it launched the low-end Lumia 535 (5" display and 3G-only, starts at €110).
    • Low-end devices are believed to account for a big portion of the 10.5M Lumias Microsoft sold in calendar Q4. While costlier Lumias have struggled to gain ground against the iPhone and high-end Android hardware (thanks in part to iOS/Android's app support edge), cheaper models have fared well in many cost-sensitive emerging markets. The 430 aims to significantly lower the cost edge the cheapest Android devices still have.
    • IDC estimates Windows Phone had a 2.8% global smartphone unit share in Q4 vs. 76.6% for Android (NASDAQ:GOOG) and 19.7% for the iPhone (NASDAQ:AAPL).
  • Fri, Mar. 20, 12:06 PM
    • Four days after the WSJ reported Apple (AAPL +0.1%) plans to launch a Web TV service this fall, BuzzFeed's John Paczkowski (formerly with Re/code) reports the company plans to unveil a new Apple TV set-top at its June WWDC conference, replete with an App Store, developer SDK, and Siri support.
    • Paczkowski, who has a long history of providing Apple scoops, adds the new Apple TV is "a significant overhaul of the device, one intended to undergird Apple’s vision of what the TV viewing experience should be" and stand out from Roku, Amazon, etc. An A8 CPU (found in the iPhone 6/iPad Air 2) is said to be included, along with "a dramatic increase" in storage from the current 8GB and support for "a selection" of devices leveraging Apple's HomeKit home automation platform.
    • 9to5 Mac reported two weeks ago Apple is "finishing up work on a slimmer Apple TV set-top-box with a more capable and tactile remote control and a redesigned operating system bundled with an App Store." Apple used its March 9 Watch event to announce a $30 price cut (to $69) for the current Apple TV, which was launched in 2012, and to state cumulative Apple TV sales have topped 25M.
  • Mon, Mar. 16, 10:33 PM
    • The TV service that Apple (NASDAQ:AAPL) is talking about (per WSJ) would be anchored by major broadcasters ABC (NYSE:DIS), CBS and Fox (NASDAQ:FOXA) -- but leaving out NBC (NASDAQ:CMCSA) because of hard feelings might make Apple's plan a harder sell.
    • WSJ's Shalini Ramachandran notes Dish Network (NASDAQ:DISH) launched Sling TV without Fox and NBC, and Sony (NYSE:SNE) Vue without Disney ... which might make this yet another messy middle step toward some customers' a la carte dreams.
    • The big broadcasters aren't all, though -- the talks with Disney could bring ESPN, and there may be other basic cable additions, though the ultimate package is likely to end up as a "skinny" bundle that leaves out the typically large number of channels in typical pay TV tiers.
    • According to the report, the service would work across all iOS devices: iPhones, iPads, Apple TVs.
    • Previously: WSJ: Apple talking Web TV service for fall launch (Mar. 16 2015)
  • Mon, Mar. 16, 10:06 PM
    • Apple (NASDAQ:AAPL) is in talks to launch a Web TV service this fall -- featuring about 25 channels (including ABC (NYSE:DIS), CBS and Fox (NASDAQ:FOXA)), costing $30-$40, and available on devices like Apple TV, according to The Wall Street Journal.
    • NBC (NASDAQ:CMCSA) isn't in the talks right now because of a falling-out between Apple and NBCUniversal owner Comcast over last year's negotiations, the paper says.
    • An announcement could come in June for a September launch.
  • Wed, Mar. 11, 10:51 AM
    • Following an outage that began at 5AM ET, Apple (AAPL -1.7%) states iTunes and the iOS App Store are "unavailable for all users." The iBooks Store and Mac App Store are also down.
    • Though some iTunes and App Store pages can be loaded, downloads aren't going through. The Next Web is providing running updates.
    • Apple is adding to the Tuesday losses it saw amid a market selloff. Shares are down 3.7% over the last two days, following Monday's Apple Watch event.
    • Update (2:00PM ET): Apple blames the outage on an "internal DNS error." The company has issued an apology.
    • Update 2 (4:40PM): It's finally over. Apple says iTunes and the App Store are back up.
  • Wed, Mar. 11, 10:36 AM
    • VentureBeat reports Intel's (INTC +3.7%) recently-announced XMM 7360 4G baseband modem (made by its Infineon unit) will go into 2016 iPhone units aimed at emerging markets in Asia and Latin America, thus partly taking a slot reserved for several years by Qualcomm's (QCOM -0.9%) Gobi modems.
    • The site adds Apple (NASDAQ:AAPL) engineers "have been making trips to Munich, Germany to work with Intel engineers to ready the Intel LTE chip for the iPhone," and that Intel "has been willing to go a long way to get its LTE chips into Apple phones." Infineon was once the iPhone's (3G) baseband supplier, before Apple switched to Qualcomm.
    • The XMM 7360 supports Cat-10 LTE (450 Mbps peak download speeds), as well as 3x carrier aggregation. Qualcomm, which still claims the lion's share of the 4G baseband market, announced a Cat-10 LTE modem (the Gobi 9x45) last November that was declared to offer better power consumption and take up less board space than the prior-gen/Cat-6 9x35.
    • Apple sold 193M iPhones last year, and will likely top 200M this year. As is the case with many other clients, Qualcomm's modem sales to Apple help enable the sale of several complementary parts - an RF transceiver, a power management IC, a receive-only chip, and an envelope-tracking IC that lowers power draw.
    • Intel is up sharply today after selling off hard yesterday amid a market rout. The chip giant has already seen 18.2M shares traded vs.a 3-month daily average of 29M.
  • Tue, Mar. 10, 11:23 PM
    • A day after Apple (NASDAQ:AAPL) showed off both a smartwatch and a 12" retina MacBook featuring haptic Force Touch sensors that let users send different software commands based on how hard they press, the WSJ reports Apple plans to add the technology to its next-gen iPhones.
    • The paper also states the next-gen iPhones will have 4.7" and 5.5" displays (no surprise), and that Apple is testing a pink color option to go with its current silver, gold, and space grey options.
    • Apple demoed several Force Touch-related features for Mac OS apps at yesterday's event; Mail, Safari, and the Finder app were among the covered products. Messages, Music, and Calendar are among the Apple Watch apps with Force Touch controls; 3rd-party developers can also write apps supporting the technology.
    • Immersion (NASDAQ:IMMR) has licensed its haptic software and patents to many Android phone OEMs, and could strike more Android deals if the WSJ's report pans out. During its Q4 CC (transcript), when asked whether it plans to reach a licensing deal with or sue Apple, Immersion simply stated its guidance doesn't assume any Apple revenue or litigation expenses.
    • Meanwhile, a slew of hands-on reactions have been provided for Apple Watch from writers given a chance to test the device at Apple's event. The consensus: The Watch has plenty of interesting features and apps - here's a run-down of 3rd-party apps - but compared with the iPhone/iPad, its UI can be confusing to a new user.
    • Bloomberg's Stephen Pulvirent: "On first use, the device felt a little confusing and clumsy. Sometimes it seemed to do one thing; at other times, just the opposite ... it seems like the interplay between tapping, swiping, and turning the crown will take some getting used to."
    • The NYT's Farhad Manjoo: "Whether it’s calling an Uber car, checking into your hotel or answering a text, the watch will allow you to interact with the digital world at a glance, in a less outwardly antisocial way than you now do with your phone ... Should you really spend hundreds of dollars, let alone thousands, on a gadget to free you from the inconvenience of accessing your $650 smartphone? That remains the deepest unanswered question about the Apple Watch."
  • Mon, Mar. 9, 6:41 PM
    • Making the rounds after Apple's Watch event, HBO (TWX +1.3%) CEO Richard Plepler says he talked to Apple's (AAPL +0.4%) senior VP Eddy Cue last spring about a "shared vision" for the TV service -- though HBO's programming partners are scrambling a bit to sort out a response this month.
    • On the thorny issue of HBO's cable/satellite partners who may object: "We are talking to all of our partners," Plepler says, adding HBO thought "it would be a great vehicle for them."
    • While Apple has a three-month exclusive for its devices, program providers could get into that window via their existing relationship with HBO. Cablevision (NYSE:CVC) and Cox Communications were known to be in discussions with HBO already about providing the service. Cox is mum so far on how/if it will make HBO Now available to broadband-only customers.
    • Apple makes a pretty good partner for a content company that has no experience with direct customer service; meanwhile, Apple has a massive payments infrastructure and 400M credit cards already set up. NPD analyst John Buffone tells Tom's Guide that Apple TV is No. 1 in their last streaming device report, ahead of Roku, Chromecast and Fire TV. It's used by 25M.
    • No exclusive window comes without money changing hands; while financial terms are undisclosed, it's possible there's a middle ground between the 30% cut that Apple takes in apps and the 50-50 split HBO has with some existing program partners. HBO thinks the addressable market is 10M broadband-only subscribers, meaning a landscape of $150M/month to split more or less evenly.
    • Related programmers: CMCSA, TWC, T
  • Mon, Mar. 9, 2:42 PM
    • The 38mm Apple Watch (AAPL -0.6%) Sport edition will sell for $349, and the 42mm version for $399.  The 38mm version of the stainless steel/sapphire cover glass edition goes for $549-$1049, and the 42mm version for $599-$1099 (depending on the band). The 18-karat gold Apple Watch Edition starts at a whopping $10K.
    • Apple Watch becomes available on April 24. Pre-orders begin on April 10 in the U.S., the U.K., China, Canada, France, Germany, Japan, and Hong Kong.
    • Apple showed off a slew of a slew of Apple Watch-related features. Among them: Opening garages and hotel room doors; quick responses to messages (users choose from a list); receiving health-related notifications based on a user's activity (or lack thereof); and access to iPhone notifications. Tim Cook: "Any notification you can receive on your iPhone, you can receive on Apple Watch." The battery is promised to last 18 hours on a "typical day."
    • Early reactions to the 12" retina MacBook - it will be known just as a MacBook, with no Air suffix attached - have been positive. Apple Watch reactions have been more mixed - the feature set is liked more than the pricing.
    • After briefly spiking higher during its event, Apple has given back its gains.
    • Live blogs: The Verge, Engadget.
    • Prior Apple event coverage: I, II
  • Mon, Mar. 9, 2:00 PM
    • Apple's (AAPL +1.5%) long-rumored 12" retina MacBook has been unveiled - it's declared to be the thinnest and lightest MacBook Apple has ever made, as well as the first fanless MacBook. It's 13.1mm thin, and weighs just 2 pounds. For reference, the current 11" and 13" MacBook Airs respectively weigh 2.38 and 2.96 pounds.
    • The 12" MacBook has an all-metal enclosure, a new keyboard that's thinner and provides more precise/accurate keystrokes, and a clickless "Force Touch" trackpad with haptic force sensors (enables pressure-sensitive "Force Clicks"). Engadget wonders if Synaptics' (SYNA) ForcePad tech is being used. Immersion (IMMR +5%) has spiked higher, perhaps on hopes Apple rivals will adopt its haptic tech.
    • Some specs: A 2304x1440 display that consumes 30% less power than prior displays; a 14nm Intel (NASDAQ:INTC) Core M CPU (cores clocked up to 1.3GHz., rising to 2.9GHz. with Turbo Boost); 9 hours of battery life for wireless Web browsing; a single USB-C (reversible) connector that can serve as a data, power, or video-out (HDMI/VGA) connector.
    • The 12" MacBook begins shipping on April 10, and will be offered via $1299 and $1599 models; the costlier model has a faster CPU and twice the storage.
    • Also: 1) Apple has updated the 13" MacBook Pro, providing it with faster CPUs, and flash memory, improved battery life, and the Force Touch trackpad. The MacBook Air line has also received CPU and flash upgrades. 2) Apple has unveiled ResearchKit, an open-source software framework for medical researchers that enables diagnostics iPhone apps.
    • Live stream. Live blogs: The Verge, Engadget.
    • Earlier: Apple cuts Apple TV price, confirms HBO Now partnership
  • Mon, Mar. 9, 1:25 PM
    • Tim Cook states at Apple's (AAPL +1%) San Francisco event the price of the current Apple TV set-top (now 3 years old) has been cut by $30 to $69. That makes it more competitive with Roku's hardware ($50-$100) and Google's Chromecast ($35, requires another device to stream content). A new Apple TV set-top is rumored to be in the pipeline.
    • HBO (TWX +0.8%) CEO Richard Plepler announces Apple will be the exclusive launch partner for the standalone HBO Now streaming service (previous). He also confirms the service will be priced at $15/month.
    • Some shared stats: 700M iPhones and 25M Apple TVs have been cumulatively sold, and Apple Pay is now supported at 700K locations; 100K Coca-Cola vending machines will support it by year's end. All major auto manufacturers now support CarPlay.
    • Live stream. Live blogs: The Verge, Engadget.
    • Update: HBO says Now will be exclusive to Apple hardware for 3 months.
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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