316.97 -1.76 (-0.55%)
Pre-Market: 9:03AM EST
|Bid||316.91 x 1300|
|Ask||316.88 x 3100|
|Day's Range||315.06 - 318.74|
|52 Week Range||151.70 - 318.74|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||26.81|
|Earnings Date||Jan 27, 2020|
|Forward Dividend & Yield||3.08 (0.97%)|
|Ex-Dividend Date||Nov 05, 2019|
|1y Target Est||288.78|
Apple's upcoming iPhones are expected to offer 5G wireless connectivity. But that might not be enough to power a selling supercycle.
Futures fell as Asia markets sold off Tuesday: Earnings season is the next test for the hot stock market rally. Netflix and Texas Instruments earnings are due Tuesday night.
FAANG's huge market value determines broader stock market movements, and any let-downs in their quarterly earnings report will surely have far-reaching implications.
Apple Inc dropped plans to let iPhone users fully encrypt backups of their devices in the company's iCloud service after the FBI complained that the move would harm investigations, six sources familiar with the matter told Reuters. It shows how much Apple has been willing to help U.S. law enforcement and intelligence agencies, despite taking a harder line in high-profile legal disputes with the government and casting itself as a defender of its customers' information. The long-running tug of war between investigators' concerns about security and tech companies' desire for user privacy moved back into the public spotlight last week, as U.S. Attorney General William Barr took the rare step of publicly calling on Apple to unlock two iPhones used by a Saudi Air Force officer who shot dead three Americans at a Pensacola, Florida naval base last month.
Walt Disney Company said on Tuesday it had moved up the launch of its video streaming service, Disney+, to March 24 in the United Kingdom and regions across Western Europe by a week, ahead of its earlier launch schedule of March 31. Disney+ would be available in the UK and Ireland for 5.99 pounds ($7.81) per month or 59.99 pounds every year, and in France, Germany, Italy, Spain, Switzerland and Austria for 6.99 euros ($7.76) per month or 69.99 euros annually. The streaming service is among the top players in the crowded streaming landscape, competing with Netflix Inc , Apple Inc's Apple TV+, and Amazon.com Inc's Amazon Prime Video in the region.
Apple's lawsuit against a former chip executive-turned-rival will have implications for employees all over California who are considering striking out on their own and creating the startups that drive tech business and culture. California's long-held public policy favors employee mobility in contrast to states that allow strong non-compete agreements. Apple filed the lawsuit in Santa Clara County Superior Court against Gerard Williams III, who left the company last year after more than nine years as chief architect for the custom processors that power iPhones and iPads to start Nuvia Inc, which is designing chips for servers.
The “darlings” of small caps are beating the Russell 2000 by an average of 2.5 percentage points, with 67% of the stocks edging the benchmark so far this year.
France has offered to suspend down payments on a digital services tax on big internet companies due in April as part of an effort to resolve a dispute with Washington over the levy, a French Finance Ministry source said on Tuesday. Washington has threatened to hit some goods with tariffs over France's digital services tax, which it considers to unfairly discriminate U.S internet groups. The aim is to give time for broader negotiations to take place in the mean time at the Organisation for economic Cooperation and Development to rewrite international tax rules, the source said.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year.Macron said on Monday he had a “great discussion” with Trump on the issue, without giving details.“We will work together on a good agreement to avoid tariff escalation,” he said on Twitter.“Excellent!” Trump said in a reply to Macron’s post, without providing additional information. Trump is en route to Davos, Switzerland, for the World Economic Forum.A White House readout of the call was notably more muted, saying only that the “two leaders agreed it is important to complete successful negotiations on the digital services tax” and “discussed other bilateral issues.” And neither a White House spokesman nor officials with the U.S. Trade Representative’s office would confirm that the U.S. president had called off his announced tariffs.Still, the possible respite may defuse transatlantic tensions that had been building between Washington and Brussels along another potential trade war front. Last week, Trump signed a cease-fire with China in phase one of a broader deal aimed at balancing trade between the world’s two largest economies.The European Union is an even bigger U.S. trading partner than China and supply chains between the two economies, particularly in automotive and financial services industries, are intertwined in ways that would make a tit-for-tat tariff dispute even more harmful to the world economy.Macron’s government still hopes to find a solution that fits within discussions at the Organization for Economic Cooperation and Development’s work on the issue, according to a French official who asked not to be identified in line with government rules.European finance ministers meeting in Brussels Tuesday will discuss progress of the OECD talks. While the OECD is still working on its proposal for taxing tech companies around the world, France pushed ahead with its own levy last year that hit U.S. internet giants like Google, Apple Inc. and Amazon.com Inc.“We now have an agreement between the two presidents to avoid any tariff escalation and avoid any trade war,” French Finance Minister Bruno Le Maire told reporters in Brussels before the meeting. “It’s remains a difficult negotiation -- with digital tax, the devil is in the details and we need to resolve the details.”Paris and Washington have discussed the possibility of France suspending the collection of the digital tax payments due in April as long as the U.S. refrains from imposing new tariffs, French officials said. But that wouldn’t constitute a withdrawal of the levy, they added. For its part, the French government denies its national tax is discriminatory and warned that the EU would retaliate if the U.S. imposed additional levies.The U.S. has said that the French tax discriminates against American technology companies, citing Section 301 of a 1974 American law that Trump has thus far reserved to justify tariffs against China. That opened the door to the U.S.’s threat to hit $2.4 billion of French goods with tariffs in retaliation.Among the French products targeted with duties of as much as 100% were luxury items like wine, cheese and makeup. One American wine merchant called it the biggest threat to the industry since Prohibition a century ago.For its part, the French government had warned that the EU would retaliate if the U.S. imposed additional tariffs.The dispute was another headache for European trade officials scrambling to expand their policy arsenal as the U.S. takes aim at a rules-based system for global trade that Trump argues is outdated and tilted against America. It also coincided with a change in leadership at the European Commission, the EU’s executive arm.EU trade commissioner Phil Hogan visited Washington last week for the first time in the job, partly to plead for talks rather than tariffs in disagreements like the French digital tax. At stake, he said, was transatlantic trade in goods and services valued at more than $3 billion a day.“Sounds like a fairly healthy relationship to me,” Hogan said Thursday in the U.S. capital. “So why put tariffs on these EU products to make them more expensive for your people?”The truce follows weeks of discussions between Treasury Secretary Steven Mnuchin and Le Maire, who were scheduled to meet Wednesday in Davos, Switzerland, the alpine resort town where government officials and business leaders gather during the winter to discuss whatever is ailing the global economy.The dispute has ramifications outside France as other countries try to come up with ways to generate revenue from the digital economy. Mnuchin told the Wall Street Journal that the U.K. and Italy will face American tariffs if they proceed with similar levies on foreign tech firms.U.S. and EU trade relations started to sour in 2018 when the Trump administration invoked national-security considerations to impose tariffs on steel and aluminum from Europe. As a U.S. military ally, the EU was infuriated and promptly retaliated with levies on iconic American brands such as Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans.A subsequent U.S. threat to wreak significantly more economic damage by targeting the European auto industry with duties on the same security grounds led to a hastily agreed truce and a pledge by both sides to work toward reducing industrial tariffs across the board.Since then, the Trump administration has refused to start the tariff-cutting negotiations unless Europe includes agriculture in them. Also, it imposed levies on EU products in retaliation over government aid to Airbus SE that was deemed illegal by the World Trade Organization, and disabled the WTO’s appellate body,The EU, meanwhile, is pressing ahead with a plan for tariffs against the U.S. in a parallel WTO case over unlawful subsidies to Boeing Co.Trump, scheduled to speak Tuesday in Davos at the World Economic Forum’s annual meeting, on Sunday reiterated his frustration with Europe as a trading partner.“Europe has had tremendous barriers to us doing business with them. All those barriers are coming down. They have to come down,” he told a conference of farmers in Austin, Texas. “If they don’t come down, we’re going to have to do things that are very bad for them.”He added, “Europe was, in many ways, more difficult -- and is more difficult -- than China.”(Updates with possible French concession in the 11th paragraph)\--With assistance from Jonathan Stearns, Justin Sink and Chelsea Mes.To contact the reporters on this story: Ania Nussbaum in Paris at email@example.com;William Horobin in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, Brendan Murray, Wendy BenjaminsonFor 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.
At CES 2020, Schneider Electric and Legrand unveiled smarter electrical panels, which allow users to track and manage energy consumption through voice-enabled apps.
France's Finance Minister Bruno Le Maire said on Tuesday talks with the United States on the taxation of digital companies "remained difficult" despite a pledge from the two countries to avoid a trade war until at least the end of this year. Le Maire said the truce agreed on Monday by French President Emmanuel Macron and U.S. President Donald Trump was a "very positive starting point" but now the two countries had to reach a compromise on how to tax digital activities at global level.
Roh is taking over the job from co-CEO Koh Dong-Jin, who will continue in his role as the conglomerate's overall IT and Communications unit, Bloomberg said. According to CIMB analyst Lee Dohoon, Roh's promotion comes as Samsung increases its focus on improving the design and quality of its phones. "Roh is known to be a person who expanded Samsung's original design manufacturing policy for low- to mid-range smartphones," Dohoon told Bloomberg.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Taiwan’s Pegatron Corp. plans to set up production facilities in Vietnam, according to people familiar with the matter, becoming the latest Apple Inc. assembly partner to establish a presence in the Southeast Asian nation as they diversify beyond China.Taipei-listed Pegatron is looking for a site to build a brand new facility in the north of the country, according to people familiar with the matter who asked not to be identified discussing private plans. It already has rented a separate facility in the northern city of Haiphong, they said. Pegatron will make styluses for Samsung Electronics Co.’s smartphones there, one of the people said. The gadget manufacturer’s share price remained largely unchanged in Tuesday trading.Pegatron joins Apple’s two other iPhone assemblers -- Wistron Corp. and Hon Hai Precision Industry Co. -- in developing manufacturing facilities or building extra capacity in Vietnam. None of the three are making iPhones in Vietnam and have no imminent plans to do so. The only Apple device Pegatron makes is iPhones. GoerTek Inc. is now making AirPods in the country, while two other Apple assembly partners, Compal Electronics Inc. and Luxshare Precision Industry Co., also have a presence in Vietnam.An almost two-year-long trade war with the U.S. has put China’s position as factory for the world of technology in jeopardy, undermining a decades-old global supply chain and pushing electronics companies to look for alternative production bases. Though Washington and Beijing have signed a phase-one trade deal, supply-chain diversification is still essential in the longer term given tensions are unlikely to fully subside and labor costs are rising in China.Taiwanese companies have been particularly active in their search for options, with companies from Inventec Corp. to Foxconn Technology Group either moving production back home or to more distant regions around Asia, seeking to escape U.S. tariffs.Vietnam has been a top beneficiary from tariff-related trade diversions. Indonesia has also gained, including garnering investment from Pegatron.“Vietnam’s enhanced vocational training has helped boost the quality of its pool of workers to close to China’s level and its government has been keen to clear hurdles including bureaucracy for foreign companies to invest in the country,” said Roy Lee, a researcher at Taipei-based Chung-Hua Institution for Economic Research.(Updates with share details in second paragraph)To contact the reporter on this story: Debby Wu in Taipei at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum Murphy, Vlad SavovFor 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.
Netflix is set to report its Q4 fiscal 2019 earnings results after the closing bell on Tuesday, January 21. The streaming TV giant's stock price has climbed over the last several months but Wall Street is worried about Netflix's growing competition...
French President Emmanuel Macron said on Tuesday he had a "great discussion" with U.S. President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs. France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide.
(Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook said he’s “hopeful and optimistic” the intergovernmental Organization for Economic Co-Operation and Development will strike a deal on corporation tax, as his company battles the European Union over a tax bill.Speaking at an event in Dublin on Monday, Cook said the debate on taxing “complex” multinational companies needs to take place at a global level. The OECD is meeting with countries this year about a plan to overhaul the tax system and address concerns that these firms, particularly tech giants, aren’t paying taxes in the right amounts or to the right countries.Read more about the OECD’s plans here.“Everybody knows” the system needs to be overhauled, Cook said, acknowledging it isn’t perfect. While law can’t be “retrofit,” Cook said he “desperately” wants taxes to be fair.Cook’s comments came as the company battles the EU after the bloc imposed a tax bill of as much as 13 billion euros ($14.4 billion) plus interest on the company, claiming Ireland illegally gave it special treatment that lowered Apple’s liabilities. Apple, which has appealed the decision, is the largest taxpayer in the world and has followed all tax laws, Cook said. Ireland also said it did nothing wrong.Cook visited Dublin to receive an award from Irish Prime Minister Leo Varadkar for his company’s contribution to the nation’s economy since it set up a base there in the 1980s. It employs more than 6,000 people in Cork.To contact the reporters on this story: Peter Flanagan in Dublin at firstname.lastname@example.org;Dara Doyle in Dublin at email@example.comTo contact the editors responsible for this story: Ambereen Choudhury at firstname.lastname@example.org, Amy Thomson, Christopher ElserFor 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.
The collaboration with Louis-Dreyfus is likely to provide an impetus to Apple's (AAPL) original content expansion strategy to penetrate the increasingly crowded streaming space.
Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. The growth of internet giants such as Apple has pushed international tax rules to the limit, prompting the Organisation for Economic Cooperation and Development (OECD) to pursue global reforms over where multinational firms should be taxed. The reforms being examined center around the booking of profits by multinational firms in low-tax countries such as Ireland where they have bases - and where Cook was speaking on Monday - rather than where most of their customers are.