1,829.22 +0.88 (0.05%)
After hours: 4:17PM EST
|Bid||1,828.01 x 1200|
|Ask||1,830.95 x 900|
|Day's Range||1,815.43 - 1,841.00|
|52 Week Range||1,566.76 - 2,035.80|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||81.01|
|Earnings Date||Jan 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,181.63|
Berkshire Hathaway landed on millennials’ top 10 list of investments in the fourth quarter of 2019, according to new research.
Amazon.com Inc.’s longstanding antitrust issues could take center stage ahead of the presidential election, say Monness Crespi Hardt analysts. Tech companies are increasingly the focus of Trump administration investigations, with the Justice Department and the Federal Trade Commission looking closely at antitrust issues. Perhaps sensing a bigger fight brewing, Amazon (AMZN) , along with Facebook Inc. (FB) and Apple Inc. (AAPL) , ramped up their lobbying to record levels in 2019, with Amazon spending $16.1 million.
Rick Probstein, one of the largest sellers of sports memorabilia on online auction site eBay, was at his computer working in his New Jersey office on Sunday when sale of items featuring former NBA superstar Kobe Bryant suddenly shot higher. Since the news of Bryant's death broke, about 50 people have contacted Probstein to list related memorabilia items on consignment on eBay, he said.
U.S. stocks fell more than 1% on Monday as investors worried about the economic impact of a virus outbreak in China as containment efforts including travel bans have been put in place in the world's second largest economy after the country extended the Lunar New Year holiday. The benchmark S&P 500 suffered its worst weekly performance since September last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. With cases being linked in as many as a dozen other countries, U.S. President Donald Trump offered China whatever help it needed to contain the virus.
The top stories in this digest are Intel's earnings, Netflix's surging share price, Apple's valuation concerns and the Google-Activision deal.
Apple has quietly been building its Portland workforce. It currently has 30 open positions in the region listed on its jobs board.
Wall Street's main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of sectors exposed to China's growth, including technology, materials and energy, pressured the markets.
Amazon stock recently formed a new stock-trading pattern that could move it into a buy range as the e-commerce giant reports quarterly earnings on Thursday, after the markets close.
Microsoft's vital signs are improving ahead of Wednesday's fiscal Q2 earnings report. Here is how Microsoft stock's technicals and fundamentals look.
With probes of Alphabet Inc's Google and other major platforms underway, the U.S. Justice Department's Antitrust Division is hiring both to bulk up for the big tech probes and to replace people who left, according to two Justice Department officials with knowledge of the matter. The posting includes a link to the agency's press release announcing the probes. Big tech companies like Facebook Inc, Google, Amazon.com Inc and Apple Inc face a slew of antitrust probes by the federal government, state attorneys general and Congress.
The e-commerce giant’s stock will rise due to its strong sales growth driven by its one-day shipping offering, according to Benchmark.
Last quarter, the company’s More Personal Computing segment—which comprises Windows, Surface, search ads, and gaming—posted $11.13 billion in revenue. Meanwhile, the Intelligent Cloud segment, which includes cloud-computing service Azure along with Windows Server, SQL Server, System Center, GitHub and consulting, saw $10.85 billion in revenue. Research firm CFRA estimates that revenue from cloud-based services hit 50% of total revenue in MSFT’s fiscal Q4, and this trend is helping operating margin.
(Bloomberg Opinion) -- How long should a manufacturer be responsible for maintaining support for legacy products? Consumer devices have increasingly become smart and connected, only to later be abandoned by the manufacturer. Smart suitcases have turned dumb, talking toys gone mute, and wireless security cameras bricked into paperweights. Most recently, Sonos got a lot of grief for announcing that older versions of their smart home speakers would soon lose access to services and functionality. Customers complained that they had spent thousands on their audio systems, with some products still on the market as recently as 2015.A hardware device is a one-time purchase, while software updates require continuous labor. As technology improves and devices last longer, the initial manufacturing cost may end up being a small proportion of the total lifetime cost of production. Many manufacturers have shifted to business models that treat the device sale as a loss leader for future revenue streams. Amazon can afford to underprice the Echo because it enables consumers to buy more stuff from Amazon, Google and Spotify teamed up to give away Google Home Minis, and even Apple recently lowered prices on its iPhones to grow a user base for its subscription services.At the more controversial end of the spectrum, companies like John Deere have used the Digital Millenium Copyright Act to legally prevent users from repairing their own equipment, forcing their customers to continue paying into a lucrative repair market.Sonos boxed itself into a corner early on by promising customers free software updates for life. As CEO Patrick Spence testified at a Congressional hearing earlier this month, “Our business model is simple — we sell products which people pay for once, and we make them better over time with software updates.”The company is in a particularly difficult position because Sonos began as a home audio company before the advent of smart home assistants. Its earliest speakers weren’t designed with the processing power and storage required to take advantage of today’s features. To minimize complexity, Sonos designed its audio system so that all devices in a home network would share the same software. Once one product is no longer eligible for updates, the whole setup would stop receiving updates. Sonos customers lodged public complaints and bullied the company into submission. Sonos promised to keep the updates coming.A better long-term solution for the company might be found by looking to a different coalition of rebellious customers: a group that has been quietly reverse-engineering their speakers to liberate them from the company’s software entirely. It’s not an easy task. A Sonos speaker integrates a speaker and a microprocessor running a proprietary operating system. In order to jailbreak the speaker, a user must gain access to the internal hardware and install their own software.It would no doubt please these customers were Sonos to make their legacy speakers open source. Sonos has already indicated that the company can remotely erase the software; it could similarly perform a remote reinstallation of an open-source operating system like Linux or Android. The company’s tech-savvy fans could then continue to improve the software — which could be downloaded by other users — while Sonos focuses on its core competency of manufacturing high-end speakers.In the future, device manufacturers may be less generous about promising a lifetime of free software support. After all, most technological improvements these days are done in software. When it comes to cars, the internal combustion engine hasn’t changed much since fuel injectors were introduced in the 1980s. The performance improvements seen in recent decades have come from better sensors and smarter software to interpret sensor data.Autonomous vehicles will have an even tougher sell, as it’s inevitable that self-driving technology will continue to improve after initial release. Will further updates be free, or will the vehicle manufacturer hold consumer safety for ransom?While it’s easy to insist that customers should have free access to software updates running on devices they rightfully own, it’s hard to reconcile a sustainable business model with a lifetime of free software. A device that requires a paid subscription or leaves software updates as an exercise for the customer is better than one that turns into a brick.To contact the author of this story: Elaine Ou at email@example.comTo contact the editor responsible for this story: Sarah Green Carmichael at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elaine Ou is a Bloomberg Opinion columnist. She is a blockchain engineer at Global Financial Access in San Francisco. Previously she was a lecturer in the electrical and information engineering department at the University of Sydney.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wall Street's main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of tech heavyweights that enjoyed a strong rally recently dragged markets lower.
(Bloomberg) -- If it turns out that Saudi Arabia hacked into the phone of Amazon.com Chief Executive Officer Jeff Bezos, as investigators have alleged, the oil rich nation likely utilized its preferred method of cyber espionage: outsourcing.While countries like Russia, China and North Korea have invested in developing powerful, tailored cyber weapons, Saudi Arabia has instead opted to purchase them, according to experts and former government officials.The Middle Eastern nation’s cyber arsenal is believed to be primarily composed of outsourced espionage tools, which it has combined with disinformation tactics on social media, they said.These purchased weapons can be “highly sophisticated, but of limited scope,” according to Jon Bateman, a cybersecurity fellow at the Carnegie Endowment for International Peace. While Saudi Arabia has tools that can be technically complex, countries that have invested in developing indigenous offensive and defensive capabilities -- such as Saudi Arabia’s Middle Eastern neighbors Iran and Israel -- possess a greater range of cyber weapons and tactics, he said.Nevertheless, Saudi Arabia’s purchased tools are an effective way for the regime to exert control, allegedly deploying these tools to spy on Saudi dissidents and journalists, according to experts.The Embassy of Saudi Arabia didn’t immediately respond to a request for comment sent through its website form. Last week the Embassy denied involvement in the Bezos incident.In recent years, as cyber actors have generally grown more sophisticated, so have the tools for sale, said Andrew Grotto, a fellow at Stanford University who served as the senior director for cybersecurity policy on the National Security Council from late 2015 to mid-2017.The purchase of cyber weapons -- including from marketplaces in the Middle East and Europe, and possibly from criminals -- isn’t unique to Saudi Arabia, experts say. Other countries, such as Vietnam and the United Arab Emirates, have also utilized their defense budgets to outsource cyber arsenals.The embassy of Vietnam didn’t immediately respond to a request for comment, nor did the UAE embassy.Estimates for the start of Saudi Arabia’s purchasing of cyber tools range anywhere from half a decade to two decades ago, with the country appearing to focus on surveillance activities. While cyber tools can be used to delete or alter data, hold systems hostage and disrupt traffic, Saudi Arabia has primarily focused on using them for spying, the experts said.As Saudi Arabia has purchased offensive capabilities, the country’s defenses have also been put to the test, experts said. For example, a dramatic cyber-attack -- believed to be sponsored by Iran -- devastated the computers of the state oil company, Saudi Aramco, in 2012.These allegedly weak defenses can be problematic for American interests, as attacks on allies can be used as an indirect way to impact the U.S., said James Lewis, senior vice president at the Center for Strategic & International Studies.“The Saudis are not that sophisticated in their cyber capabilities and that has been a problem for the U.S.,” Lewis said. “What they are sophisticated in is the ability to buy outside capabilities.”In addition to purchasing cyber capabilities, Saudi Arabia has also become adept at deploying disinformation campaigns to promote national interests, according to experts.For example, in August, Facebook Inc. removed hundreds of government-linked accounts and pages engaged in a sophisticated and wide-reaching influence campaign that praised the regime and criticized neighboring countries. Two months later, Twitter Inc. removed thousands of state-backed accounts based in Saudi Arabia -- suspending tens of thousands of others -- which manipulated the platform in order to promote Saudi Arabia’s geopolitical interests and amplify support for its authorities.The spyware allegedly used to hack Bezos’s phone was “developed and marketed by a private company and transferred to a government without judicial control of its use,” according to two United Nations special rapporteurs, in a statement last week. The alleged purpose was to “influence, if not silence,” coverage of the Saudi regime by the Bezos-owned Washington Post, according to the rapporteurs.“The intrusion likely was undertaken through the use of a prominent spyware product identified in other Saudi surveillance cases,” such as tools purchased from Israel’s NSO Group or Italy’s Hacking Team, according to the statement.The allegations come following a December 2018 suit, in which Saudi dissident Omar Abdulaziz alleged NSO Group software enabled Saudi Arabia to hack his phone and track his communications with Jamal Khashoggi, a Washington Post journalist, and Saudi insider-turned-critic, who was slain by agents of the Saudi government, according to the U.S..Memento Labs, which acquired Hacking Team last year, didn’t immediately respond to request for comment; it has previously denied any involvement in the Bezos incident. An NSO Group representative referred to a statement published on its website: “We can say unequivocally that our technology was not used in this instance.” Regarding the lawsuit, a NSO Group spokesman said, “Khashoggi was not targeted by any NSO product or technology.”In a manner typical of Saudi’s digital operations, the murder of Khashoggi was followed by a “massive online campaign” that targeted Bezos’s business interests on social media, according to the U.N. rapporteurs. The following month, in November 2018, “Boycott Amazon” trended as the top hashtag on Saudi Twitter, they said.To contact the reporter on this story: Alyza Sebenius in Washington at email@example.comTo contact the editors responsible for this story: Andrew Martin at firstname.lastname@example.org, Molly SchuetzFor 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 housing numbers for 2019 are in, and they show that supply around Amazon.com Inc.'s (NASDAQ: AMZN) new headquarters was incredibly tight in 2019. Just 135 homes were sold in the 22202 ZIP code — an area that encompasses Pentagon City, Arlington Ridge and Crystal City — last year, the lowest number for any year in the decade, according to data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS. In 2017, 213 homes were sold in that ZIP code.
DEEP DIVE The five biggest U.S. tech companies will report their quarterly results over the next week. The group, led by Apple (AAPL) has propelled the stock market over the past year. Let’s see how some of their numbers compare heading into Tuesday, when Apple kicks off the round of earnings reports.
The FAANG stocks have been outperforming the market over the past three months buoyed by the initial U.S.-China trade deal. Hopes of better-than-expected earnings releases are also adding to the strength.
Investors will get a sense of how the company fared over the holiday period when it reports fourth-quarter earnings on Tuesday, Jan. 28 after the market closes.
Timothy Weakley, a Tennessee truck driver, is alleging he was coerced into violating federal hours-of-service laws while hauling freight for Amazon.com, Inc. (NASDAQ: AMZN) through his employer. Walmart Inc (NYSE: WMT) is asking a federal appeals court to reconsider an appellate panel's ruling that awarded $54.6 million to a class of former California truck drivers for time spent mostly on 10-hour layovers between trips. Bob Biesterfeld, president and CEO of CH Robinson, gives us the down low on everything we need to know about what exactly Robinson Labs is and where their FreightTech initiatives will take them.
U.S. stocks fell more than 1% on Monday as investors worried about the economic fallout of the fast-spreading coronavirus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of tech heavyweights that enjoyed a strong rally recently dragged markets lower.