|Bid||329.73 x 1300|
|Ask||329.72 x 800|
|Day's Range||323.26 - 330.72|
|52 Week Range||185.77 - 330.72|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||27.81|
|Earnings Date||Jul 28, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||3.28 (1.02%)|
|Ex-Dividend Date||May 08, 2020|
|1y Target Est||316.95|
The company's applications had been downloaded more than 50 million times on a worldwide basis to date, according to data from app intelligence firm Sensor Tower. A complaint filed by the Dept. of Justice on behalf of the FTC alleged that HyperBeard had violated COPPA by allowing third-party ad networks to collect personal information in the form of persistent identifiers to track users of the company’s child-directed apps.
Yahoo Finance’s Dan Howley joins Kristin Myers to discuss how Apple is tracking iPhones that were stolen from its stores amid looting and civil unrest across the country.
Zoom continues to focus greatly on improving the security of its platform amid a surge in new users.
On Friday, the U.S. Labor Department reported an increase in nonfarm payrolls of 2.5 million for the month of May, nowhere close to the decline of 8 million jobs that economists were expecting. The unemployment rate was also far better than expected, coming in at 13.3% in May. That's down from 14.7% in April, and well below forecasts calling for an unemployment rate of nearly 20%. The surprise gain in jobs sent the Dow Jones Industrial Average (DJINDICES: ^DJI) flying on Friday.
Semiconductor and enterprise software maker Broadcom saw its shares spike on Friday after delivering a reassuring earnings report, though its sales guidance for the current quarter was soft.
Broadcom indicated that the normal revenue uptick from orders from Apple for its next-generation iPhone is being pushed out into the fourth quarter.
While the S&P 500 has rallied 39% from its March 23 low, the market for long-dated dividend futures has risen just 7%, according to a Thursday note from Goldman Sachs, reflecting concerns over earnings growth and rising chances that a Democratic sweep in November will lead to a reversal of the 2017 corporate tax cuts.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in June 2020.
The smartphone market is among many industries getting crushed by the coronavirus outbreak, registering its biggest decline ever in the first quarter after the pandemic simultaneously gutted supply chains and destroyed demand, with consumers fearing a potential recession on the horizon. As the world continues to grapple with the disease, smartphone shipments are expected to remain under pressure for the rest of the year, according to recent estimates from market researcher IDC. Smartphone volumes in the first half of 2020 are expected to fall by 18% as the coronavirus crisis continues to hurt discretionary spending.
Store closures and supply chain disruptions on account of the COVID-19 pandemic have sent the global smartphone market into a tailspin this year. Worldwide smartphone shipments were down 11.7% year over year in the first quarter of 2020 to 275.8 million units, according to IDC, as key markets such as China, the U.S., and Western Europe came into the grip of the disease. The industry should have been ideally taking advantage of the shift to 5G smartphones in 2020, but that might not be the case anymore as the economic fallout of the novel coronavirus pandemic could delay upgrades and hurt demand.
DEEP DIVE The U.S. stock market has defied many analysts’ expectations, with the benchmark S&P 500 Index rallying 40% from the bottom March 23. In fact, it’s been the best 50-day rally ever, according to analysts at LPL Financial Research.
Don’t count Peter Tchir, head of market strategy at Academy Securities, in the markets-are-irrational camp. In an absolute stunner, the Labor Department reported 2.5 million jobs were added in May, and a decline in the unemployment rate of 1.4 percentage points to 13.3%.
From Mach to May, the best mutual funds invested over $1 billion in each of 11 top stocks to watch, including AMZN, AAPL, MSFT, NVDA and NFLX.
Spotify is hoping its investments in podcasting will improve its profitability as it diversifies from streaming music. It recently signed a deal to carry "The Joe Rogan Experience" podcast.
FaZe Clan, one of the most prominent gaming organizations, recently celebrated its 10-year anniversary by announcing multiple collaborations and partnerships with different companies.The History Of FaZe ClanThe esports powerhouse evolved overtime after beginning as a trickshot clan in "Call of Duty" in 2010. The idea of trickshotting with snipers wasn't a new idea, but FaZe was one of the first to create content as a team.The brand has morphed into one of the most popular organizations in esports history as it hosts a number of teams in titles like "Call of Duty," "Counter-Strike," and "PUBG." The company's creative endeavors have blended video games, lifestyle content, and fashion together in a way no other brand has."You don't know you're making history while you're making it," Clinton Sparks, VP of Business Development at FaZe Clan said in a statement. "We have all collectively been apart of making history at Faze and I am extremely proud to have played a major role in building something so culturally significant and impacting. We've been through A LOT in such little time and continue to persevere and shape what gaming and esports culture can and will become."I know one thing is for certain. As long as I am involved in gaming and esports... it will continue to innovate, evolve and have the biggest impact in culture."See Also: Video Game Companies Announce Delays, Pledge Support Of ProtestsFaZe Collaborates With G FUEL And Apple BeatsFaZe Clan and G FUEL are no strangers when it comes to creating flavors for the brand's collection of energy drinks. Now the two have collaborated again to create a "remix" of FaZeberry. Sour FaZeberry "tastes like a taste buds-tingling combination of pomegranates, strawberries, and acai berries with an extra hit of sourness."To celebrate the new flavor and anniversary, the two companies partnered up to host the GFUELFaZeX Dream Setup, a giveaway that offered the new flavored drink as well as a list of streaming products."We continue to expand our eight-year partnership with G FUEL in 2020 with the rollout of Sour FaZeberry as a new update to our original, classic flavor FaZeberry energy," FaZe Clan Chief Revenue Officer Jeff Pabst said in a press release. "We also want to give back to the FaZe community in celebration of our tenth anniversary FaZe X, and are excited to launch the Dream Setup Giveaway contest in partnership with G FUEL where one lucky fan will take home the grand prize."In addition, FaZe has joined the Apple Inc. (NASDAQ: AAPL) family by partnering with Apple Powerbeats. The announcement was part of the "10 days of FaZe" celebration, where a summer collection of Powerbeats Pro earphones were dropped off to the organization by drone. The delivery was posted on the team's Instagram.See more from Benzinga * Activision Blizzard CEO Bobby Kotick's Pay 'Problematic,' Say Activist Shareholders * Electronic Arts Launches Over 25 Games On Steam * Nadeshot's 100 Thieves Enters 'VALORANT,' Announces Team Captain(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Apple Inc. (NASDAQ: AAPL) has weathered the economic impact of the novel coronavirus pandemic in a "Jacques Cousteau-like fashion," and the consumer electronics company could become the first to cross $2 trillion in market valuation by the end of 2021, according to Wedbush.AAPL Rating, Price Target Wedbush analyst Daniel Ives maintained an outperform rating and increased its price target from $350 to $375. Ives upgraded its bull case for AAPL shares from $400 to $425.'Major 5G cycle on the horizon' For Apple Wedbush said in an analyst note on Thursday that Apple is best set to benefit from the growth of 5G standard for cellular networks, alongside a growth in its services business.The analysts reiterated their stance that about 350 million iPhones are in the "window of an upgrade opportunity," meaning iPhone users who are looking to upgrade to a later version of the device."[We] believe Cupertino has a unique opportunity to capture this delayed super cycle opportunity with a major 5G cycle on the horizon which will include a host of new smartphone versions/models for iPhone 12," Wedbush noted.China will remain a key market for Apple, accounting for about 20% of these iPhone upgrades over the next year, as per Wedbush.Wedbush maintained that the iPhone 12 with a "mix of 4G/5G" is likely to be launched ahead of the holiday season in October.Apple's services business is set to exceed $60 billion revenue for the current financial year, as demand is projected to spike in the coming months, Wedbush said. It gave a valuation between $500 billion to $650 billion to the segment.The sales of the Cupertino-based company's wireless Bluetooth earbuds Airpods should also come near an "eye popping" 85 million units, compared to the 65 million last year, according to Wedbush.AAPL Price Action Apple shares closed about 0.9% lower at $322.32 on Thursday and inched further lower at $322.10 in the after-hours session.Latest Ratings for AAPL DateFirmActionFromTo Jun 2020Morgan StanleyMaintainsOverweight May 2020B of A SecuritiesMaintainsBuy May 2020Deutsche BankMaintainsBuy View More Analyst Ratings for AAPL View the Latest Analyst RatingsSee more from Benzinga * Why Genius Brands Is On A Massive Rally, Adding Nearly 2500% Value In A Month * Warner Music Set To Go Public Today, In Anticipated Largest US IPO Of The Year * Peloton Makes Its Fitness App Available On Apple TV After Pandemic Demand Surge(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- Broadcom Inc., a major Apple Inc. supplier, suggested the latest iPhones will be launched later than usual this year.Hock Tan, chief executive officer of Broadcom, discussed a “major product cycle delay” at a “large North American mobile phone” customer, during an earnings conference call with analysts on Thursday.Tan often refers to Apple this way. This time, the executive said the delay will mean the bump in wireless revenue experienced by Broadcom will happen one quarter later than usual this year.“We are in,” Hock said, referring Broadcom components in the iPhone. “The question is timing.”“This year, we do not expect to see this uptick in revenue until our fourth fiscal quarter,” the CEO added. “So accordingly, we expect, our wireless revenue in Q3 will be down sequentially.”Apple is planning to release its next iPhone line multiple weeks later than usual, Bloomberg News previously reported. The company typically unveils its new iPhones in the second half of September, but has occasionally, like in the case of the iPhone X in 2017, launched major new models later in the year.Phone makers usually order components months ahead of product launches. Apple typically releases new versions of the iPhone in September. If it followed that time line, Broadcom would receive orders in the current quarter, which runs through July. The chipmaker said that’s not happening this year. “Because of product cycle delays the trough for our fiscal year will be Q3. This coming quarter,” Tan said. “Nothing has changed in terms of designs, nothing has changed in terms of the content,” including more 5G components, the CEO added. The delay to the new iPhone release is due to the Covid-19 pandemic, which has slowed Apple engineer travel to China to finalize the devices and required employees to mostly work from home in the early months of 2020.Broadcom’s Tan also warned about “supply constraints and an expected substantial reset in wireless” when the company’s results came out on Thursday. With much of the world’s population confined to their homes, handset demand has dropped.(Updates with CEO comment in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Broadcom Inc., a chipmaker that supplies Apple Inc. and other large electronics makers, gave a lackluster forecast, as weak demand for smartphone parts overshadowed rising orders from data center owners.Revenue in the three months ended in July will be $5.75 billion, plus or minus $150 million. That compares with an average analyst prediction of $5.77 billion, according to data compiled earlier on Thursday by Bloomberg.The San Jose, California-based company makes chips that filter radio signals and provide WiFi connections in iPhones and other smartphones. With much of the world’s population confined to their homes, handset demand has dropped. Broadcom is also a key supplier of switch chips, the complex semiconductors that manage data traffic in networking equipment, an area where demand is surging.Read more: Smartphone Shipments Projected to Fall a Record 12% in 2020“Looking ahead, our third-quarter guidance for semiconductors reflects a surge in demand from cloud, telecom and enterprise customers, offset by supply chain constraints and an expected substantial reset in wireless,” Chief Executive Officer Hock Tan said in a statement.Tan explained that his “large North American smartphone customer” -- typically how he refers to Apple -- is undergoing a “product cycle delay.” That means the usual improvement in wireless-related orders that comes in the company’s fiscal third quarter, which runs through July, will now be seen in the following three-month period. This implies the debut of the next iPhone will come later than its usual September release. Phone makers typically order chips months in advance of building the devices.Balancing that weakness in smartphones, orders for chips used in data center gear have strengthened into the current period, Tan said. Bookings remain “extremely strong” he said. A bright spot for the industry has been the rush to buy equipment by the large cloud-computing providers, who are spending to increase their capacity in an effort to meet a flood of extra traffic caused by the boom in remote work.Three months ago, Broadcom withdrew its annual sales forecast and gave weak near-term guidance, citing the coronavirus pandemic. Tan said in March that the supply chain hadn’t been hurt by the lockdown. Then in April, the company told customers to place orders at least six months ahead of time because of shelter-in-place rules in Malaysia, Thailand, Singapore and the Philippines. That supply chain is now on the mend, he said.Read more: Broadcom Sounds Alarm on Unforeseen Tech Industry DisruptionsBroadcom, one of the latest to report earnings in the tech sector, is giving an up-to-date view on demand as the economy crumbles in the midst of the pandemic. The stock gained about 1% in extended trading following an initial decline. The shares closed at $308.89 earlier in New York.The company, one of the world’s largest chipmakers, has branched out into mainframe computer and security software. Tan assembled Broadcom in a string of acquisitions, giving its products a role in everything from powerful data center networking gear to smartphones.Net revenue in the fiscal second quarter rose 4% to $5.74 billion, the company said. Before certain items, profit was $5.14 a share.(Updates with comments from CEO throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Apple Inc. employees heading back to work at the company’s headquarters in Silicon Valley will face new realities in the Covid-19 era, such as optional testing for the virus, closed kitchens and a requirement to wear masks.Apple began bringing some workers in to the main Apple Park office in May, including some hardware and software engineers. When they arrive, they’ll have the option of taking a nasal-swab test to check for the virus, according to people familiar with the process. Temperature checks are required.As the building gradually reopens, some employees are working from the Apple campus only a few days a week. Apple is also limiting the number of people allowed in confined spaces at its offices. For example, as few as two are permitted in elevators at the same time, which normally would fit as many as 10 employees. The company has also closed many break-room kitchens and has posted signs asking employees to wear masks.The Apple campus in Cupertino, California, has several open floor work areas where staff members are used to working in close proximity, but the company will need to make changes to that layout in order to bring back the rest of its workforce. An Apple spokesman declined to comment.In a sign of a return to normalcy, some members of the company’s executive team have returned to the main campus instead of working from home. Deirdre O’Brien, Apple’s head of retail and human resources, for example, sent her most recent video update to staff from Apple Park.Many large U.S. corporations are rethinking how to get thousands of employees safely back to work before a vaccine is widely available. Testing is seen as one way to help control the spread of the disease, as is limiting the number of people in spaces and wearing masks.Some Silicon Valley rivals, including Facebook Inc., recently told staff they won’t be offering testing in the near future, though the company has extended remote work through the end of the year, except for those developing critical hardware, which will return sooner. Amazon.com Inc. is offering tests to workers at some warehouses, while employees at the company’s Seattle headquarters expect testing to be done when staff returns in early October.Facebook has also said it would “aggressively” hire remote workers and that as much as half of its staff could eventually be remote. But Apple has long prioritized in-person meetings and hands-on product development, and its central business is hardware, which is less conducive to off-site work.Still, the company has taken the pandemic seriously and acted quickly to protect its staff and the public, shuttering all of its retail stores at different points this year to help curb the spread of the virus. It has since reopened more than half of its stores globally.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Market breadth is often used to assess the overall health of the stock market and forecast its future direction. But market-breadth indicators can differ widely and lead investors astray.
Apple's streaming video service Apple TV+ is off to a slow start, but a Wall Street analyst thinks the consumer electronics giant can still make it a success. Apple TV+ launched Nov. 1.
The euro jumped to a 12-week high against the dollar on Thursday after another shot of European Central Bank stimulus to help economies slammed by the coronavirus pandemic, but world equity markets pulled in the reins after a strong seven-day run. The euro rallied for an eighth session after the ECB said it would increase the size of emergency bond purchases by 600 billion euros ($674 billion) to 1.35 trillion euros, more than the 500 billion-euro increase analysts had expected. A huge domestic support package from Germany also lifted the euro and briefly pushed European equities higher..