265.79 +0.21 (0.08%)
After hours: 7:05PM EST
|Bid||265.65 x 1400|
|Ask||265.69 x 900|
|Day's Range||262.73 - 265.89|
|52 Week Range||142.00 - 268.25|
|Beta (3Y Monthly)||1.23|
|PE Ratio (TTM)||22.34|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||3.08 (1.18%)|
|1y Target Est||257.36|
Analysts at TF Securities is predicting that Apple will get rid of the charging plug on its highest-end phones by 2021. The device will create a “completely wireless experience” and will be the main differentiation between the highest-end and the high-end models in 2021.
As music streaming apps struggle to differentiate, Apple is making concert video a more central part of its strategy with tonight's big Billie Eilish show at its HQ's Steve Jobs Theater. The Apple Music Awards concert will be streaming live and then on-demand to Apple Music's 60 million subscribers. Apple would like to do more of these streamed concerts in the near future.
(Bloomberg) -- Apple Inc. is taking delivery this month of the first batch of carbon-free aluminum produced by a Montreal-based venture, helping move the iPhone maker closer to its greenhouse-gas reduction goal.Elysis, a joint venture between Rio Tinto Group and Alcoa Corp. backed by Apple, uses new technology that emits pure oxygen when producing aluminum. Apple has said in an environment report that 80% of its emissions from an iPhone 8 came during the production phase. The metal is also used in iPads, Macs and Apple watches.“For more than 130 years, aluminum — a material common to so many products consumers use daily — has been produced the same way,” Lisa Jackson, vice president of environment, policy, and social initiatives at Apple, said in an emailed statement.Rio’s commercial network is handling the first delivery to Apple, a Rio spokesman said in an email.“This is another important step towards zero carbon aluminum and a more sustainable future,” said Alf Barrios, Rio Tinto Aluminium chief executive officer.The metal being shipped to Apple was produced at the Alcoa Technical Center in Pittsburgh.“This first sale is tangible evidence of our revolutionary work to transform and disrupt the conventional smelting process by making a process that is both more efficient and more sustainable,” Benjamin Kahrs, an Alcoa executive vice president and Chief Innovation Officer, said in a statement.\--With assistance from Mark Gurman and Steven Frank.To contact the reporter on this story: Joe Deaux in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Peloton Interactive Inc. has been pilloried online and punished on the stock market following the release of a holiday ad for its stationary exercise bike that was deemed culturally insensitive. But the backlash could be a good thing for the company in the long run.The commercial, which features a woman documenting a year in her life with the Peloton bike her male partner gave her, struck some viewers as out of touch -- suggesting the already thin “Grace from Boston” was undergoing a strenuous workout in order to lose weight for the guy. The video, released about a month ago, went viral on social media, eliciting a scathing parody by comedian Eva Victor and prompting Peloton to close comments on the official YouTube video.As the internet buzz seemed to hit a peak earlier this week, Peloton’s stock fell 9%. But some experts say the increased attention could end up boosting sales.“They might benefit more because people are looking it up and learning more about it,” Laura Ries, president of advertising consultancy firm Ries & Ries, said. It’s still a short-term bump for a company that has historically been largely successful with marketing, with a total member base of 1.6 million people including more than 560,000 who have one of the proprietary bikes or treadmills plus a fitness subscription, according to Peloton’s most recent quarterly report. The official Peloton ad on the company’s YouTube channel has been seen by more than 3.6 million people.The controversy comes at a crucial time for the New York-based company, which is new to market scrutiny after listing shares in September, as it seeks to capitalize on the all-important holiday sales season and expand in new markets like the U.K. and Germany. The shares had gained 27% since its initial public offering before the wave of internet commentary dragged it down on Tuesday. The shares closed 5% lower on Thursday.The company is also facing increased competition in the booming at-home fitness market, especially among workout apps. Nike Inc., Aaptiv Inc. and apps like Kayla Itsines’s Sweat with Kayla have all gained followings for exercise programs available on a user’s phone.Peloton has been punished by Wall Street for its focus on growth over profitability. The company sells a stationary bike starting at about $2,000 and a treadmill that costs about $4,000, in addition to a basic “connected fitness” subscription plan at $39 a month for those pieces of hardware, and the separate digital apps that don’t require equipment. Its loss narrowed in the three months ended Sept. 30 to $49.8 million.The stock surged almost 10% last Friday after the company was reportedly seeing strong demand on Black Friday. And earlier this month, Peloton lowered the price of its digital subscription app to $12.49 a month from $19.99 in conjunction with the launch of new apps for Amazon’s Fire TV and the Apple Watch, a move that could entice new users. JMP Securities analysts raised their price target on the stock to $38 after the subscription reduction, saying it “broadens Peloton’s reach, improves conversion, and reduces purchase friction.” Ronald Josey, a JMP analyst, said there are “a lot of good things going on” at the company and that people will continue to buy the bike and other products despite the controversy.According to the most recent earnings report, Peloton expects its user base to grow to 680,000 or more by the end of its second quarter thanks to holiday sales and New Year’s resolutions.Scott Galloway, a professor of marketing a the NYU Stern School of Business, said the commercial itself is tone deaf and borderline offensive. But “in this attention-driven economy, anything that gets attention is arguably a positive,” he said in an interview. “It’s bringing Peloton into the social discourse on very regular basis, which is what ads are supposed to do.” If Peloton had to do it again, Galloway said, “I’d argue they probably would.”To contact the reporter on this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Mark Milian at email@example.com, Molly Schuetz, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
See who joins Facebook, Paycom, Vertex, ServiceNow, and Burlington Stores on this list of the fastest-growing large-cap stocks.
Apple is getting a lift from Citigroup, after the bank reiterated its Buy rating on the stock and raised its price target. “This Christmas is different for Apple,” Jim Suva wrote in a note to clients Thursday morning. On Jan. 2 this year, Apple said revenue for the quarter ended Dec. 29 would be lower than it had told investors to expect, citing weakness in emerging markets, among other factors.
The conglomerate is badly lagging behind the S&P 500. A stubborn approach to capital allocation is a big part of the problem.
Key market indexes reversed from early gains Thursday, as the Dow Jones industrials gave up a near 100-point gain despite advances from Nike and Apple.
Investing.com – Stocks were holding onto small gains Thursday afternoon after climbing back from early losses a day before Labor Department's monthly report on payroll employment and unemployment.
(Bloomberg) -- Apple’s price target was raised to $300 from $250 at Citi, which reiterated its buy rating on the iPhone maker and forecast strong results in the company’s holiday quarter.Analyst Jim Suva cited the company’s “pricing strategies and recent demand trends” as factors that “augur for a better Christmas quarter” than last year, when Apple cut its revenue forecast. The consensus is “underappreciating the Apple Watch and Apple AirPods demand strength,” he wrote, adding that Apple’s services business would also grow and help margins.Suva sees upside to both earnings and sales, but doesn’t see an expansion in Apple’s valuation multiple as this “has already expanded materially.”Shares of Apple are up nearly 70% thus far this year, putting the company on track for its biggest one-year gain since 2009. The stock rose as much as 1.2% on Thursday.Citi’s revised target implies upside of nearly 15% from Apple’s Wednesday close. The average price target for the stock is $260, which is slightly below the most recent close, according to data compiled by Bloomberg. Currently, 27 firms recommend buying Apple shares, while 14 have a hold rating on the stock and seven recommend selling it.Apple’s first-quarter results are expected to be released on Jan. 28.(Updates stock to market open in fourth paragraph)To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The metal is being made by Elysis, a Montreal-based joint venture of Alcoa Corp and Rio Tinto announced last year with $144 million in funding from the two companies, Apple and the governments of Canada and Quebec. The aluminum will be shipped this month from an Alcoa research facility in Pittsburgh and used in Apple products, although the technology company did not say which ones.
Amazon (AMZN), Google and others are leaving no stone unturned to rapidly penetrate the smart speaker market in India, which is booming due to rising adoption of virtual assistants in the country.
Shares of Apple Inc. gained 0.7% in premarket trading Thursday, after Citigroup analyst Jim Suva "materially" increased is earnings estimates and boosted by price target by 20%, saying he believed "this Christmas is different" for the technology giant. Suva reminded that on Jan. 2, 2019, Apple issued its first sales warning since the iPhone was launched in 2007. "This year Apple is not facing supply yield production constraints nor a staggered iPhone product launch," Suva wrote in a note to clients. And his research suggests the some of the "hottest" products across all segments during Black Friday and Cyber Monday were Apple AirPods and the Apple Watch 3 Series. Suva raised his stock price target to $300 from $250, and he expects fiscal first-quarter EPS of $4.58 and sales of $89.5 billion. That compares with the FactSet consensus for EPS of $4.51 and sales of $87.9 billion, while the average price target of the 43 analysts surveyed by FactSet is $258.03. The stock has climbed 66% year to date, while the Dow Jones Industrial Average has advanced 19%.
Some companies spend to gain market share, while others burn cash to beat quarterly earnings estimates.
FT premium subscribers can click here to receive Trade Secrets by email Sometimes we pine for the days when you could turn off your phone for five minutes with a reasonable expectation that a major trade ...
(Bloomberg) -- U.S. Senator Elizabeth Warren is drafting a bill that would call on regulators to retroactively review about two decades of “mega mergers” and ban such deals going forward.Warren’s staff recently circulated a proposal for sweeping anti-monopoly legislation, which would deliver on a presidential campaign promise to check the power of Big Tech and other industries. Although the Trump administration is currently exploring their own antitrust probes, the proposal is likely to face resistance from lawmakers.According to a draft of the bill reviewed by Bloomberg, the proposal would expand antitrust law beyond the so-called consumer welfare standard, an approach that has driven antitrust policy since the 1970s. Under the current framework, the federal government evaluates mergers primarily based on potential harm to consumers through higher prices or decreased quality. The new bill would direct the government to also consider the impact on entrepreneurs, innovation, privacy and workers.Warren’s bill, tentatively titled the Anti-Monopoly and Competition Restoration Act, would also ban non-compete and no-poaching agreements for workers and protect the rights of gig economy workers, such as drivers for Uber Technologies Inc., to organize.A draft of Warren’s bill was included in an email Monday from Spencer Waller, the director of the Institute for Consumer Antitrust Studies at Loyola University Chicago. Waller urged fellow academics to sign a petition supporting it. He said Warren was working on the bill with Representative David Cicilline, the most prominent voice on antitrust issues in the House. Waller declined to comment on the email.Representatives for Cicilline and Warren declined to comment. The existence of the bill and Warren’s support of it were reported earlier this week by the technology publication the Information.In Washington, there is some support across the political spectrum for increased antitrust scrutiny of large technology companies. Warren positioned herself as a leader on the issue this year while campaigning on a plan to break up Big Tech. She has repeatedly called for unwinding Facebook Inc.’s acquisitions of WhatsApp and Instagram, along with Google’s purchase of YouTube and advertising platform DoubleClick.Read more: Warren Accuses Michael Bloomberg of ‘Buying the Election’It’s not clear when a bill would be introduced or whether it would move forward in its current form. Cicilline has said he would not introduce antitrust legislation until he concludes an antitrust investigation for the House Judiciary Committee in early 2020.Amy Klobuchar, a Senator from Minnesota who’s also vying for the Democratic nomination, has pushed legislation covering similar ground. Klobuchar plans to introduce additional antitrust legislation soon, according to a person familiar with the matter who wasn’t authorized to discuss the plans and asked not to be identified.Any proposal would face significant hurdles to becoming law, and Warren’s version could be particularly problematic because it promotes the idea that antitrust enforcement is equivalent to being against big business, said Barak Orbach, a law professor at the University of Arizona who received a draft of the bill. “The way I read it is that Elizabeth Warren is trying to make a political statement in the course of her campaign,” Orbach said. “It’s likely to have negative effects on antitrust enforcement, so I just don’t see the upside other than for the campaign.”The bill proposes a ban on mergers where one company has annual revenue of more $40 billion, or where both companies have sales exceeding $15 billion, except under certain exceptions, such as when a company is in immediate danger of insolvency. That would seemingly put a freeze on many acquisitions for Apple Inc., Alphabet Inc., Facebook, Microsoft Corp. and dozens of other companies. The bill would also place new limitations on smaller mergers.Chris Sagers, a law professor at Cleveland State University, said the proposal would serve as an effective check on corporate power. “I don’t think you’ll have new antitrust policy until Congress says the courts have incorrectly interpreted the statutes,” he said. “Someone has to do what Elizabeth Warren is doing.”(Michael Bloomberg is also seeking the Democratic presidential nomination. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)To contact the reporters on this story: Eric Newcomer in San Francisco at firstname.lastname@example.org;Joshua Brustein in New York at email@example.comTo contact the editor responsible for this story: Mark Milian at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.