|Bid||202.43 x 4000|
|Ask||202.56 x 900|
|Day's Range||202.36 - 206.50|
|52 Week Range||142.00 - 233.47|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||17.04|
|Earnings Date||Jul 30, 2019|
|Forward Dividend & Yield||3.08 (1.50%)|
|1y Target Est||211.18|
The coming iPhone cycle may be a non-event, but rising conviction in a strong 2020 lineup has one analyst feeling bullish about Apple Inc.’s prospects.
FaceApp has gone viral again with a feature that makes users look elderly, but experts say it may pose security concerns.
Investors fled Netflix (NFLX) stock after the firm reported potentially worrisome Q2 subscriber figures on Wednesday. Now many on Wall Street are left to wonder if the major user miss is a hiccup for an impressive growth stock, or the start of much tougher times.
(Bloomberg) -- Netflix Inc.’s biggest earnings surprise in years sent the shares plummeting the day after results were released, leaving analysts and investors wondering why they were caught so off guard.When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix.Instead, the company dropped a bombshell with no warning: Its customer growth was roughly half what it projected, and Netflix actually lost U.S. subscribers during the period. That hasn’t happened since 2011, when the company made a disastrous attempt to split up its streaming and DVD-by-mail operations.The fallout on Thursday included the worst stock rout in three years, with the stock declining 10% to erase more than $16 billion in market value. Shares in Netflix extended those declines on Friday, falling 3.1% to $315.10 per share, their lowest since January. The stock has fallen for seven consecutive sessions, the longest losing streak in nearly four years.“You would think Netflix would want to update guidance or give a pre-annoucement, as I’m sure they definitely knew about this for a while,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “But they probably didn’t want to do it because they were going to take a hit at that time or during earnings -- especially since subscriber numbers are the No. 1 thing analysts look at -- and in earnings you can spin it better than a stand-alone announcement.”Not Necessary?Another reason not to issue a warning: The company met most of Wall Street’s financial estimates, such as sales and profit. It was only the subscriber numbers that really came up short.“Revenue was very close to guidance and profits were actually above, so I’d guess they didn’t think it was necessary to pre-announce a weak sub number when other financial metrics were fine,” said Andy Hargreaves, an analyst at KeyBanc Capital Markets Inc.There’s also been a broader shift away from giving earnings warnings, said Huber Research Partners founder Craig Huber.“I have noticed companies in media and internet that I follow do not seem to pre-announce pending negative results with the same regularity as years ago,” he said.Netflix, based in Los Gatos, California, didn’t have an immediate comment.The streaming giant’s tight-lipped culture extends beyond earnings. Unlike traditional media companies, it’s very selective about the viewer information it provides. Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable.Third-Party ServicesThose kinds of data services failed to predict the latest shortfall, Wolfe Research analyst Marci Ryvicker said in a note.“For several days,” she said, “investors told us ‘such-and-such data service suggests domestic adds will come in line; while international might be somewhat soft.’ Wrong. I mean -- right in the sense that international was soft but totally wrong on the domestic subs part.”Netflix remains the dominant paid video streaming service, with its sights set on international expansion to counter slowing growth at home. But rising competition abroad -- such as a U.K. streaming venture announced Friday between ITV Plc and the BBC -- could challenge that growth as well.Netflix also delivers its earnings in an idiosyncratic way. Instead of doing a traditional Q&A conference call, the company releases an “earnings interview” on YouTube with a single analyst. It also issues its reports on its website, not through the paid services that many companies use to disseminate information.Though this week’s stock rout was especially severe, it’s common for Netflix’s earnings to spark a huge share move. The average change on the day after quarterly reports is almost 13%, according to data compiled by Bloomberg. Compare that with Apple Inc., where it’s 4.4%. Or Microsoft Corp., where it’s 4.1%.There’s another explanation for the huge swings in Netflix’s stock: overreaction. That was the message from Chief Executive Officer Reed Hastings this week. It’s easy to “overinterpret” subscriber figures, he said.“Sometimes we are forecast high, sometimes we forecast low,” he said. “We’re just executing forward and trying to do the best forecast we can.”(Closes shares in fourth paragraph.)\--With assistance from Morwenna Coniam.To contact the reporters on this story: Kamaron Leach in New York at email@example.com;Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In 2016, Xiaomi appeared to be on the verge of collapse. The company has since risen like a "Chinese phoenix," but it still faces challenges in the tough smartphone market.
(Bloomberg) -- Tinder joined a growing backlash against app store taxes by bypassing Google Play in a move that could shake up the billion-dollar industry dominated by Google and Apple Inc.The online dating site launched a new default payment process that skips Google Play and forces users to enter their credit card details straight into Tinder’s app, according to new research by Macquarie analyst Ben Schachter. Once a user has entered their payment information, the app not only remembers it, but also removes the choice to swap back to Google Play for future purchases, he wrote.“This is a huge difference," Schachter said in an interview. “It’s an incredibly high-margin business for Google bringing in billions of dollars," he said.The shares of Tinder’s parent company, Match Group Inc., spiked 5% when Schachter’s note was published on Thursday. Shares of Google parent Alphabet Inc. were little changed.Apple and Google launched their app stores in 2008, and they soon grew into powerful marketplaces that matched the creations of millions of independent developers with billions of smartphone users. In exchange, the companies take as much as 30% of revenue. The app economy is expected to grow to $157 billion in 2022, according to App Annie projections.As the market expands, a growing revolt has been gaining steam over the past year. Spotify Technology SA filed an antitrust complaint with the European Commission earlier this year, claiming the cut Apple takes amounts to a tax on competitors. Netflix Inc. has recently stopped letting Apple users subscribe via the App Store and Epic Games Inc. said last year it wouldn’t distribute Fortnite, one of the world’s most popular video games, through Google Play.Match declined to answer questions about whether the company was also investigating bypassing Apple’s App Store. Match is expected to discuss the payment flow change with analysts and investors during its next earnings call on Aug. 6.“At Match Group, we constantly test new updates and features to offer convenience, control and choice to our users," Justine Sacco, a spokeswoman for Match, wrote in an email. “We will always try to provide options that benefit their experience and offering payment options is one example of this."Google didn’t immediately respond to requests for comment.Of the high-profile companies that have shunned the App store, Match is the only one that has changed the payment method in-app, Schachter noted. Others have instead forced subscribers back to their own websites to enter payment information.Tinder’s move could spark a domino effect.“Tinder is relatively small and it won’t have a massive impact, but the concern is if this grows and gets into gaming apps as it starts moving forward," Schachter said. “We’re going to see a lot of other companies potentially trying to experiment with this."\--With assistance from Mark Bergen.To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Leading the Apple (NASDAQ:AAPL) rumor mill today is news of of iPhone dummy models. Today, we'll look at that and other Apple Rumors for Friday.Source: Shutterstock iPhone Dummy: A new leak gives a look at three 2019 iPhone dummy models, reports MacRumors. These new dummy models show off what the 2019 iPhone lineup may look like. There's are 5.8-inch, 6.1-inch and 6.5-inch dummy models. The models look about the same as the 2018 iPhone line. However, they do all feature a square camera bump on the rear. The 5.8-inch and 6.5-inch are sporting three rear cameras. The 6.1-inch model only has two rear cameras.2020 iPhone: It looks like the 2020 iPhone may be rocking a much more powerful processor, 9to5Mac notes. A recent statement from TSMC CEO CC Wei claims that it will have 5nm chips ready in the first half of 2020. This means that the company may be preparing to supply Apple with the chips for next year's iPhone line. The new chips would offer much more power than the 7nm chips that will likely be in the 2019 iPhone line.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpyware: A recent claim from NSO Group says it can break Apple's security, reports AppleInsider. The Israeli spyware company claims that it can do this with its Pegasus malware. This would allow it to obtain all cloud data from anyone using the company's services. It isn't just AAPL that the group says it can hack. Alphabet's (NASDAQ:GOOG,GOOGL) Google, Microsoft (NASDAQ:MSFT) and others are also allegedly vulnerable.Subscribe to Apple Rumors As of this writing, William White did not hold a position in any of the aforementioned securities.The post Friday Apple Rumors: iPhone Dummy Models Leak appeared first on InvestorPlace.
US stock markets made an all-time high earlier this week. BlackRock CEO Larry Fink expects the markets to move even higher.
While some Apple bulls believe 5G networking will boost phone buyers’ interest in new Apple devices, that position isn’t unanimously held.
Sometimes, a fantastic breakout by a high-quality growth stock starts in average or barely higher than usual volume. Why?
Russian lawmakers want to make it a legal requirement for all smartphones, computers and smart TV sets sold in Russia to come pre-installed with certain Russian software in a bid to support domestic software producers, according to a draft bill. Russia's cell-phone market is dominated by Apple, Samsung and Huawei products. The bill also proposes fining companies that sell devices without pre-installed Russian software from 50,000 to 200,000 roubles ($790-3,170) starting from January 2021.
As one of the world's premiere chipmakers, Intel (NASDAQ:INTC) naturally attracts significant attention from market participants. However, this period draws more eyeballs than usual.Source: Shutterstock It's not only about the company's upcoming second quarter of 2019 earnings report. Rather, it's whether the semiconductor firm has finally addressed its challenges to justify taking a shot at Intel stock.Understandably, many investors are not convinced with INTC stock. In Q1, the chipmaker delivered a beat on both per-share profitability and revenue. Ordinarily, such results would spike the Intel stock price. But that's not what happened, primarily due to management disclosing a rather disappointing guidance for the rest of the year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor one thing, Intel didn't see a "clear path to profitability" in the mobile 5G space. Essentially, this move gave rival Qualcomm (NASDAQ:QCOM) significant leverage in the next-generation telecommunications sector. Just as critically, Intel lost credibility with its core customers. For instance, Apple (NASDAQ:AAPL) desperately hoped that Intel could provide a 5G solution because it has a poor relationship with Qualcomm.Failing your enterprise clients is a surefire way to ruin your reputation. Thus, I can't blame the markets for taking down the Intel stock price a few notches. * 7 Stocks Top Investors Are Buying Now Secondly, the competition smells blood. Of course, I'm mostly referring to Advanced Micro Devices (NASDAQ:AMD). A perpetual runner-up, AMD has finally taken Intel to task for its many errors. Now, AMD has the chipset portfolio to compete with Intel on laptop PCs, data servers and enterprise-level businesses. With the rival bringing attractive pricing and top-notch products to the table, INTC stock appears incredibly troubled. Intel Stock Is an Ideal Contrarian InvestmentNaturally, folks may wonder if they should take the obvious trade: dump INTC stock and get on board AMD (or another upstart rival)? Although the narrative doesn't appear compelling for INTC, I believe that shares offer an ideal contrarian investment.Generally speaking, both the investor and the techie community are heaping the love on AMD. I get it. Most folks love a good underdog story, and AMD is it. Plus, the company has a rabid following that is difficult to explain.If you want to start a verbal tussle, say something negative about AMD. If you want threats to your safety, talk positively about Intel stock in the same breath.But this scenario is ripe for going against the grain. Despite Intel's reputation as an established stalwart, it still has a viable growth narrative. For example, Q4 2006 to Q1 2019, the correlation coefficient between corporate revenue and INTC stock is 87%. Even under a more recent comparison from Q1 2014, the correlation remains strong at 82%. Click to EnlargeWhat am I saying here? As revenue increases, so too does the Intel stock price. And it's doing so consistently, meaning that this investment is rational: the technicals largely trade on the fundamentals.However, when the price action dips significantly as we saw following the Q1 2019 earnings report, I believe contrarians have an opportunity to profit. Mainly, I think this because the bad news is baked into the Intel stock price.Sure, the company has suffered some embarrassing internal and operational gaffes. But to be perpetually bearish on INTC stock doesn't really make sense. We're talking Intel here. If anything, they have the resources to aggressively reclaim lost ground that other competitors do not have. INTC Stock Remains a PowerhouseAnother factor to consider is that AMD may have matched Intel in terms of chip performance and capabilities. However, that's just one component. As a significantly smaller outfit, AMD doesn't have the bandwidth to take down INTC comprehensively.For instance, look at the PC market. Intel's delays in distributing its 10-nanometer chips have opened the door to AMD to steal segment share. However, AMD is only able to provide the chips themselves.But the PC market is much more than just processors. As the larger company, INTC offers related components to its enterprise clients, such as Wi-Fi chips and NAND flash. It also builds platforms so client manufacturers can maximize the potential of their PC products.In other words, Intel is too deeply embedded within the broader tech market to simply unseat. Therefore, I feel confident that Intel stock can rise from its present (and likely temporary) challenges.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post Hereas Why the Contrarian Case for Intel Stock Makes Sense appeared first on InvestorPlace.
Cash App is free to download, and its core functions free to use. So how does this app, which has been downloaded more often than Venmo, make money?
Tributes to the Japanese animation studio ravaged in a suspected arson attack lit up social media on Friday, with world leaders and Apple Inc's chief executive offering condolences to the families of the 33 people who were killed. The man suspected of torching the studio of Kyoto Animation, which resulted in Japan's worst mass killing in two decades, did so because he believed the company had plagiarized his novel, media said on Friday. "Canadians send our deepest condolences to the families of those killed in the arson attack in Kyoto that has taken so many innocent lives," Prime Minister Justin Trudeau said on Twitter.
(Bloomberg) -- Sure, I like privacy in the abstract. But I’m applying for an apartment in New York City, and I just sent out my only slightly redacted W-2, credit history and screenshots of my bank account to several people just because they said they’re real estate brokers.So I cannot judge the thousands of Americans who sent in a picture of themselves to a Russian-made smartphone application that they hadn’t heard of the day before. FaceApp is a viral app that allows people to create startlingly realistic images of themselves as seniors or as children. And this week, it incited a panic as reports emerged that people using the app were sending their images to a little-known Russian company for doctoring.The scandal is not surprising. Whether it’s a hip thing like FaceApp (literally all it does is age you)—or the age-old torture of applying for an urban apartment—it doesn’t take much to get any of us to hand over our data.I have no idea whether people should be wary of FaceApp in particular. Security researchers have found no evidence that it sucks up all your photos or does anything similarly nefarious. The company said it deletes most images within 48 hours and that it will remove user data upon request.The fact that it’s Russian isn’t enough to discredit it. But Democratic Senate Minority Leader Chuck Schumer has called for an FBI investigation. And if we were living in a movie, the all-powerful facial recognition machine that brings humanity to its knees would certainly be built on the back of viral human vanity.It’s interesting to look at the FaceApp panic in the context of the broader privacy conversation around Silicon Valley’s tech giants. At Facebook Inc., the company has argued that its size is part of the reason it’s able to safeguard user data better than smaller, less controllable competitors. And compared to any random app, I’m sure Facebook is fairly responsible. (Listen to this podcast for a compelling argument that the whole Cambridge Analytica scandal might have been kind of overblown.)Facebook’s opponents argue that by breaking it up, its various pieces and their competitors would be forced to compete by offering superior privacy protections. But with so many people so willing to trade their data for convenience (or a discount, or an apartment, or a face filter), the invisible hand of the market probably won’t protect us from tech overreach.The most obvious answer is privacy regulation. This is why we elect leaders to create a regulatory state to watch out for us. I’m not particularly interested in investigating the factory farm that pumps out the eggs that I buy. That’s why I rely on the Food and Drug Administration to keep an eye on things.But in the absence of strong government oversight in the internet world, we’ve had to rely on app stores and other log-in tools to protect us. That has some mixed results. And it means the gatekeepers—Apple Inc., Google and Facebook, in particular—know a ton about us.I’m sure some privacy-minded people will object to this sort of defeatism. Yes, people can take some responsibility for their privacy. As in, maybe do some background googling before downloading an app from a company that you’ve never heard of? But more likely, people will just embrace the post-privacy dystopia. If regulators won’t police the most obvious targets, Apple, Google and Facebook (which has even called for regulations!), I guess the Russians can enjoy looking at our smiling, naïve faces.This article also ran in Bloomberg Technology’s Fully Charged newsletter. Sign up here.And here’s what you need to know in global technology newsWeWork's CEO reaps cash riches without IPO. Adam Neumann has sold $700 million through sales and loans, the Wall Street Journal reports.Trade wars aren't all bad. The markets seem to think that South Korean chipmakers stand to benefit.Grindr struggles under new management. The president of the gay dating app once said "holy matrimony" should be between a man and a woman. BuzzFeed dug into the company's challenges.Worried about making enough money? Getting that dream job? Take a moment to try the Bloomberg Work Wise career calculator and learn how your salary stacks up, and how much your dream job might pay.To contact the author of this story: Eric Newcomer in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.