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The Dow Jones Industrial Average early Monday was on track for its third straight declining session, with a downdraft in shares of Nike, Apple, and Goldman Sachs doing the most to drag the index lower. ...
The next iteration of the iPhone will boast more Broadcom chips than in past models, which should offset other weaknesses facing the chipmaker.
RBC Capital’s Amit Daryanani late yesterday issued a note to clients suggesting Apple’s (AAPL) rumored $1 billion budget for “content” could help the company’s effort to compete with Spotify, the privately held streaming music service, in addition to building Apple’s services business. Daryanani, who has an Outperform rating on Apple stock, and a $176 price4 target, takes as his cue the report last Wednesday by The Wall Street Journal’s Tripp Mickle stating that Apple has “set a budget of roughly $1 billion to procure and produce original content over the next year,” citing multiple unnamed sources. The article suggests that the effort would be run by former Sony (SNE) execs Jamie Erlicht and Zack Van Amburg, whom Apple hired in June, and that the budget might be spent on acquiring as many as 10 TV shows.