|Bid||60.90 x 0|
|Ask||61.00 x 0|
|Day's Range||60.40 - 61.10|
|52 Week Range||48.45 - 63.10|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||14.85|
|Earnings Date||Nov 13, 2019|
|Forward Dividend & Yield||3.55 (5.82%)|
|1y Target Est||55.33|
MacRumors recently reported that Quanta Computer supplied autonomous driving solutions to Apple. Apple has tested its self-driving car in Cupertino.
Asian countries are looking for catalysts beyond China to drive their economies as the Sino-U.S. trade war forces Chinese demand for their exports to shrink. Luring foreign companies to their shores, finding ways to boost domestic consumption and scouring for alternate export markets are part of that policy mix as China's neighbours cope with flagging demand from the mainland, hitherto a large market for Asia in the regional supply chain. Malaysia set up a panel to fast-track investments to woo businesses, and said it approved more than $500 million in proposals this month.
(Bloomberg) -- Apple Inc. will manufacture its new Mac Pro computer in China, moving production of what had been its only major device assembled in the U.S., according to a person familiar with the company’s plans.The company will use Quanta Computer Inc. to make the $6,000 desktop computer and is ramping up production at a factory near Shanghai, according to the person, who asked not to be identified speaking about Apple’s decision-making. The Wall Street Journal earlier Friday reported the manufacturing move.The news comes as China and the U.S. are embroiled in a trade war, with the Trump administration having imposed billions of dollars in tariffs on Chinese-made goods, and threatening more tariffs that would hit Apple products. Chinese President Xi Jinping and U.S. President Donald Trump are scheduled to discuss the tariffs at a highly anticipated meeting Saturday during the Group of 20 summit in Japan. Trump has called out Apple specifically in the past asking it to move more of its production from China to the U.S.Apple shares fell less than 1% to $198.35 at 1:34 p.m. in New York. The iPhone maker announced late Thursday that Jony Ive, its chief designer associated with the company’s iconic products including the smartphone, Mac computer and Apple Watch, would soon be leaving the company.“Like all of our products, the new Mac Pro is designed and engineered in California and includes components from several countries including the United States,” Apple said in a statement. “We’re proud to support manufacturing facilities in 30 U.S. states and last year we spent $60 billion with over 9,000 suppliers across the US. Our investment and innovation supports 2 million American jobs. Final assembly is only one part of the manufacturing process.”By producing the Mac Pro at Quanta’s facility, which is close to other Apple suppliers around Asia, it will allow Apple to take advantage of lower shipping costs than if it shipped components to the U.S., the Journal said.For the last Mac Pro introduced in 2013, Apple Chief Executive Officer Tim Cook made a show of manufacturing the computer in Austin, Texas, as part of the company’s $100 million Made-in-the-USA push. Apple announced late last year it would invest $1 billion to expand its operations there with a new employee campus.But the Mac Pro caused production headaches, which slowed manufacturing and constrained Apple’s ability to make enough computers to meet demand. Three years later, some Apple engineers raised the possibility of moving production back to Asia, where it is cheaper and manufacturers have the required skills for ambitious products, a person familiar with the discussions told Bloomberg at the time.The Mac Pro is Apple’s lowest-volume product, however the decision on where to make it comes at a particularly sensitive time. For more than a year, Apple avoided major damage from the U.S. trade war with China, thanks in part to a White House charm offensive by Cook. But the recent round of tariffs proposed by the U.S. includes mobile phones, such as the iPhone, Apple’s most-important product that is made almost entirely in China. Laptops and tablets may also be encumbered with the 25% import levy.Cook urged the Trump administration not to proceed with the latest round of tariffs, saying it would reduce the company’s contribution to the U.S. economy.Apple spent decades building one of the largest supply chains in the world. The company designs and sells most of its products in the U.S., but imports them from China after assembly. That makes it one of the most exposed companies to tariffs. The company may also be evaluating moving some production out of China to elsewhere in Asia, according to a recent Nikkei report.To contact the reporter on this story: Mark Gurman in San Francisco at email@example.comTo contact the editors responsible for this story: Tom Giles at firstname.lastname@example.org, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Apple Inc is shifting manufacturing of its new Mac Pro desktop computer to China from the United States, the Wall Street Journal reported on Friday, citing people familiar with the matter. The move comes at a time when the Trump administration has threatened to impose new levies to cover nearly all imports from China and pressured Apple and other manufacturers to make their products in the United States if they want to avoid tariffs. Last week, Apple asked its major suppliers to assess the cost implications of moving 15% to 30% of their production capacity from China to Southeast Asia, according to a Nikkei report.
(Bloomberg) -- Terms of Trade is a coming daily newsletter that untangles a world embroiled in trade wars. Sign up here. Apple Inc. has asked its largest suppliers to consider the costs of shifting 15% to 30% of its output from China to Southeast Asia in a dramatic shake-up of its production chain, the Nikkei reported.The U.S. tech giant asked “major suppliers” to evaluate the feasibility of such a migration, the newspaper cited multiple sources as saying. Those included iPhone assemblers Foxconn Technology Group, Pegatron Corp. and Wistron Corp., MacBook maker Quanta Computer Inc., iPad maker Compal Electronics Inc. and AirPod makers Inventec Corp., Luxshare-ICT and GoerTek Inc., Nikkei cited them as saying.China is a crucial cog in Apple’s business, the origin of most of its iPhones and iPads as well as its largest international market. But President Donald Trump has threatened Beijing with new tariffs on about $300 billion worth of Chinese goods, an act that would escalate tensions while levying a punitive tax on Apple’s most profitable product. Company spokeswoman Wei Gu didn’t respond to a request for comment.Two major Apple suppliers pushed back against the Nikkei report. The U.S. company has not asked for cost estimates for shifting production out of the world’s No. 2 economy, although suppliers are running the numbers on their own given the trade dispute, said one person familiar with the matter, asking not to be identified discussing internal deliberations. Another supplier said it too had not gotten such a request from Apple and that the Cupertino, California-based company had resisted a proposed production shift to Southeast Asia.Apple does have a backup plan if the U.S.-China trade war gets out of hand: Primary manufacturing partner Hon Hai Precision Industry Co. has said it has enough capacity to make all U.S.-bound iPhones outside of China if necessary, Bloomberg News reported last week.The Taiwanese contract manufacturer now makes most of the smartphones in the Chinese mainland and is the country’s largest private employer. Hon Hai, known also as Foxconn, has said Apple has not given instructions to move production but it is capable of moving lines elsewhere according to customers’ needs.Apple hasn’t set a deadline for the suppliers to finalize their business proposals, but is working together with them to consider alternative locations, the Nikkei said. Any move would be a long-term process, it cited its sources as saying.Beyond Apple’s partners, the army of Taiwanese companies that make most of the world’s electronics are reconsidering a reliance on the world’s second-largest economy as Washington-Beijing tensions simmer and massive tariffs threaten to wipe out their margins. That in turn is threatening a well-oiled, decades-old supply chain.Taiwan’s largest corporations form a crucial link in the global tech industry, assembling devices from sprawling Chinese production bases that the likes of HP Inc. and Dell then slap their labels on. That may start to change if tariffs escalate, an outcome now in the balance as Washington and Beijing spar over a trade deal.Apple is an outsized figure in that negotiation. The high-end iPhone, which accounted for more than 60% of the company’s 2018 revenue, drives millions of jobs across China as well as a plethora of different industries from retail to electronics. The country is also a major consumer market in its own right, yielding nearly 20% of last year’s revenue -- weakness there pushed Apple to cut its sales forecast in January.“Twenty-five percent of our production capacity is outside of China and we can help Apple respond to its needs in the U.S. market,” Hon Hai board nominee and semiconductor division chief Young Liu told an investor briefing in Taipei last week. “We have enough capacity to meet Apple’s demand.”(Updates with a source’s comments from the second parapraph.)To contact the reporter on this story: Debby Wu in Taipei at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
President Donald Trump’s decision to increase tariffs on $200 billion of Chinese imports last week will have convinced any undecided Taiwanese companies of the need to shift some production away from China, Kung Ming-hsin, Taiwan’s minister-without-portfolio in charge of economic affairs, said in an interview in Taipei Tuesday. After Taiwan, according to Kung, Vietnam and India are the next two preferred destinations for Taiwanese electronics companies.
May 10 (Reuters) - Quanta Computer Inc: * SAYS APRIL SALES UP 12.8% Y/Y Source text for Eikon: http://bit.ly/2VTgeQp Further company coverage: (Reporting by Hong Kong newsroom)
March 28 (Reuters) - Quanta Computer Inc: * SAYS 2018 (NOT Q4) NET PROFIT AT T$15.1 BILLION ($489.20 million) * SAYS Q4 NET PROFIT UP 15.0 PERCENT Y/Y AT T$4.1 BILLION * SAYS 2018 NET PROFIT UP 5.2 PERCENT ...
A Lithuanian man on Wednesday pleaded guilty to U.S. charges that he helped orchestrate a scheme to defraud Facebook Inc and Alphabet Inc's Google out of more than $100 million, federal prosecutors announced. Evaldas Rimasauskas, 50, entered his plea to one count of wire fraud before U.S. District Judge George Daniels in Manhattan. Rimasauskas also agreed to forfeit about $49.7 million he personally obtained from the scheme, according to a court filing.
U.S. technology companies are concerned that China could be spying on them using power cords and plugs, Nikkei Asian Review reported on Friday. As a result, the American companies have asked their Taiwanese suppliers to shift production out of mainland China, according to the report, citing unnamed executives from Lite-On Technology and Quanta Computer. Fearing that China could be spying on them using power cords and plugs, several United States technology companies have asked their Taiwan suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday.
Jan 10 (Reuters) - Quanta Computer Inc: * SAYS DEC SALES UP 18.35 PERCENT Y/Y AT T$102.66 BILLION ($3.34 billion) Source text in Chinese: https://bit.ly/2Ch9qAe Further company coverage: ($1 = 30.7740 ...